Retirement and Savings Plan Information
Enrollment in the retirement program is available to all permanent, full-time and part-time employees. Eligibility for part-time employees varies based on position and pay schedule. Employees have 30 days from the
first date of eligibility to select enrollment in either a state retirement program (SERS or PSERS) or to enroll in the Alternative Retirement Program (ARP), or the employee will be automatically enrolled in
the SERS retirement plan. Once the retirement plan selection has been made, it cannot be changed. See the Retirement Programs Overview Guide and the Retirement Programs Comparison for more details. Questions regarding eligibility should be addressed to the university human resource office.
|State Retirement Programs|
The two state retirement programs offered to PASSHE employees (SERS and PSERS) are similar in that they determine the retirement benefit based on a fixed formula that
considers years of service, age, and final average salary. The benefit amount is guaranteed and not affected by the investment earnings of the plan. Employees are
100% vested in a state retirement plan after 5 years of service (10 years if employment began after 1/1/2011). Visit the
PSERS website for more information.
Alternative Retirement Plan
The Alternative Retirement Plan works very differently in the way it calculates
retirement income. Employee and employer contributions are paid to the employee's retirement account and employees make investment decisions about their own account.
The benefit is determined by the account balance, which is made up of all contributions plus any investment earnings. Employees may invest their ARP contributes with
Voluntary Supplemental Retirement Plans
PASSHE offers two additional options for retirement plans that are entirely optional to employees. PASSHE participates in the Commonwealth of Pennsylvania's
Deferred Compensation Plan currently administered
through Great West. This program allows employees to contribute to a long-term savings plan on a pre-tax basis up to amounts allowed by the IRS.
The other option open to PASSHE employees is the Tax Sheltered Annuity
(TSA) program. The TSA program is a supplemental retirement savings plan under Section 403(b) of the Internal Revenue Code. This voluntary program allows employees to
contribute, on a pre-tax basis, a portion of your salary for retirement savings.
Already an employee?
Navigate to Employee Self-Service (ESS) for more information about your current benefits and enrollments.
Interested in becoming an employee?
View our Open Job Opportunities for more information about positions available at PASSHE.