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<br />Public Employees Retirement Association of MN <br /> <br />Page 3 of3 <br /> <br />Employee payments for past service are recorded in the participant's account as taxed <br />contributions. Consequently, the partiCipant will not have tax liability for these contributions upon <br />withdrawal. <br /> <br />Because the DCP is tax-qualified, enrollment in the plan may lower the maximum contribution <br />participants may make to a deferred compensation plan and may also, depending upon income level, <br />eliminate the tax deductibility of contributions to an individual retirement account (IRA). <br /> <br />Administrative Charges <br />Two percent of the employer contributions to the DCP (2 cents for each $1.00 contributed by your <br />employer) is used by PERA for administrative costs of the plan. I"addition, 0.25 percent (one quarter of <br />one percent) of the value of your shares is also retained by PERA each year to help defray the costs of <br />administering the plan. This asset-based charge amounts to $2.50 for each $1,000 in your account <br /> <br />_'____v_~<,.^.".,~"."^..~..,^,.._....,.,.._...,','".".,,n~....'.h.'._...".._~..~____._~,,~___,~______ <br /> <br />60 Empire Drive, Suite 200, St. Paul, MN 55103/1-800-652-9026 or 651-296-7460 I FAX 651-297-2547 <br /> <br />, " . . :I ,,'. .. I <br />* "'...:II...Il....II.,,...'..., <br />~' .. .. .. .. 't a . " <br /> <br /> <br />II ..... ;r"..... <br />.. .. .. .. 1 <br />" .. " .. .. .. .' .. .' <br />. " .. I' . 'Il .. " . ~ <br />~..'..I... <br />, ., . . .. .. " .' .. , <br />. .- " " .. .. .: $" . <br />, ~ 11 .. .. .. '" .. OIl' 1 <br />.. ....... 1 ~ " " '" '/J -,1/,' <br /> <br />-243- <br />http://www.mnpera.org/index.asp?Type=B_BASIC&SEC={ IF 154A6F-38A2-4426-BDC9... 12/1/2006 <br /> <br />