Your AP-MPPP team has made a purchase of service calculator and benefits chart to help you navigate this decision. Please see additional details regarding the specifics of this plan in the links below.Īurora Police Hybrid Plan Enrollment FormĬlick here for an overview of the Hybrid Plan.Ĭlick here for a Summary Plan Description of the Defined Benefit Plan Officers hired after January of 2022 have up to 36 months from the date of hire to opt into the defined benefit or “hybrid” option. All officers hired prior to January of 2022 have until June of 2023 in order to make a decision on whether to enter the Hybrid Plan. It is called a Hybrid plan because it still has a Money Purchase Pension or defined contribution component, but also a Defined Benefit component. Optional enrollment in the Hybrid Plan option started in December of 2021. The Aurora Police Defined Benefit Hybrid Option Watch this video for an overview of the Aurora Police Money Purchase Pension Plan (AP-MPPP). For more information on your Plan, access Plan Highlights here: You do not need to complete any forms to become a Plan participant you will be automatically enrolled in the Plan on your first day of full-time employment with the Aurora Police Department. The City also provides a 100% match to each participant’s account with every paycheck. Effective January 1, 2020, an amount equal to 12% of your compensation is withheld from each paycheck and paid into your account. APMPPP is a self-directed 401(a) Defined Contribution Plan, therefore there is no fixed dollar amount or pre-determined retirement benefit established by a third party, as found with Defined Benefit plans. The City of Aurora Police Money Purchase Pension Plan (APMPPP) serves serves as a Social Security replacement plan and is the primary pension plan for the civil service employees of the Aurora Police Department (APD).
The Aurora Police Money Purchase Pension Plan Recent News About the Plan - You Have Choices
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