In addition to defined benefit plans like PERF, defined contribution plans are a valuable and important tool to help Hoosiers adequately prepare themselves and their families for retirement. As administrator of Hoosier S.T.A.R.T., the State of Indiana Deferred Compensation and Matching Incentive Plans, I encourage all Hoosier state and eligible local public employees to utilize this significant before-tax savings benefit as part of their retirement planning. The Hoosier S.T.A.R.T. 457 and 401(a) plans, like their private sector counterpart, the 401(k) plan, offer public employees an excellent way to save for their retirement through tax deferred contributions to their own individual accounts.