It gave teachers a choice between a traditional defined benefit plan and a hybrid plan that combined a less - generous defined benefit with a defined contribution component. (educationnext.org)
Profit sharing and matching contribution components are also available. (goodfinancialcents.com)
The investment options for the defined contribution component are organized into three pathways to make it easier for you to implement your investment decisions according to your knowledge of investments and investment style. (varetirement.org)