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Benefits For Those Hired Between April 1, 2010 and December 31, 2020


The Deseret Mutual Master Retirement Plan is a defined benefit (pension) plan completely funded by Brigham Young University and is designed to enhance your retirement income when it is combined with other programs, such as Social Security and personal savings. At retirement, benefits are calculated based on your salary, years of service, age, and benefit credit.


You will automatically become a participant in the Master Retirement Plan (MRP) after you meet the requirements for eligibility. These include:

  • Age 21 or older
  • Work at least 1,000 hours within the first 12 months of employment or within any future year
  • Not be hired into an excluded class


Benefit credit means the number of years of credited service you have earned as a participant. This is used to calculate your retirement benefit. Benefit credit:

  • Begins the later of age 21 or your hire date,
  • Has a maximum of 33 years, and
  • Is calculated and awarded on a monthly basis.

All credited service begins on the first day of the month. If your participation date is:

  • The first day of the month, credited service begins that day.
  • After the first day of the month, credited service begins the first day of the following month.


Vesting means ownership of retirement benefits. In other words, you have worked long enough to qualify for a benefit at retirement, even if you terminate employment before then. Vesting credit begins at the later of age 18 or your hire date. Eligible participants are 100% vested after five years of credited service.

You may be entitled to the Master Retirement Plan benefits at normal retirement age, at early retirement age, or as a vested employee who terminated employment before retirement age.


Your final average salary is the average of the highest five (5) years of salary.


For the Standard Retirement Benefit at age 65, the retirement benefit is calculated by using the following formula:

  1. Add your annual eligible salaries for your five highest years
  2. Divide the result by 60 to get your monthly final average salary
  3. Multiply your monthly final average salary by .75% (your benefit accrual rate).
  4. Multiply that result by the number of years of benefit credit you have earned.

Other factors (e.g. age at retirement, your choice of payment option) may affect the final benefit amount.


Several payment options are available upon retirement. Careful consideration of each option is recommended to determine which option best suits your needs. An appointment with the Retirement Specialist at 801-422-4486 may be scheduled at any time to plan for retirement, but should at least be scheduled four (4) months prior to retirement to begin the retirement process.


For eligible employees hired between April 1st 2010 and December 31st, 2020, BYU provides and fully funds an EDRC equal to a percentage of their compensation. BYU chooses the percentage of compensation you will receive and this percentage is subject to change each year. The EDRC is calculated and deposited into your Deseret 401(k) account at the end of each regular pay period. For employees hired after April 1st, 2010, the current EDRC amount is 3.5%.

Here is some further information about the EDRC:

  • This EDRC is 100% funded by the employer and employees are immediately vested in it.
  • Because they are immediately vested, employees who leave BYU at any time can take the full 401(k) and EDRC amounts with them.
  • The EDRC is in addition to any employee contributions and any BYU match.
  • The BYU match and EDRC do not impact the amount of money employees can contribute to the 401(k), but are in addition to these limits.  In 2021, the 402(g) limit for savings plans remains $19,500, with a $6,500 catch-up contribution limit for those aged 50 or older.


Employees that retire from BYU with at least 10 years of full-time eligible BYU service may qualify for the retiree medical plan. Please see the information below regarding eligibility and timeframes.

  • Employees that started working for BYU and all eligible service was after April 1, 2010, may be eligible for retiree medical when they are at least age 60 with 10 years of eligible service.  Between the ages of 60 and 65, the retiree may enroll in the same plans offered to our active employees; however, the retiree will pay a larger share of the premium.
  • BYU contributes a fixed dollar amount toward the monthly medical premiums in retirement for individuals between the age of 60 and 65. The amount BYU contributes depends on the employee’s years of eligible credit (see table below)   At 10 years of eligible service BYU will contribute 50% of the fixed dollar amount Once an employee reaches 20 years of eligible service, BYU will pay 100% of the employer fixed dollar amount toward the retiree medical premiums. 
  • NOTE:  BYU’s maximum contribution does not pay the entire monthly premium. The employee is responsible for paying the balance.
  • BYU’s fixed dollar contribution for retiree medical ends at age 65.

Your Years of Eligible CreditPercentage of Maximum Employer Contribution
Fewer than 10 yearsNot eligible
10 to 11 years50%
12 to 13 years60%
14 to 15 years70%
16 to 17 years80%
18 to 19 years90%
20 or more years100%
  • At age 65 retirees must enroll in Medicare as their primary insurance. A retiree may enroll in the DMBA Medicare Supplement plan, Deseret Alliance, to supplement their Medicare benefits; however, the retiree will pay the full Deseret Alliance premium.  They could also look for a different supplement plan on the market.
  • An employee has the option to pick up different amounts of Retiree Supplemental Group Term Life insurance (RSGTL) in retirement. For more information on RSGTL, please look at the Summary Plan Descriptions for that plan at  This description is found by going to “My Plans,” “Summary Plan Descriptions,” “Other Handbooks,” and then under the “Life and Disability Plan” section, select “Retiree Supplemental Group Term Life:  New Hires.”

Information on this page is for general reference only.  See the appropriate DMBA Handbook for more complete information on retirement program.