Enrollment in the retirement program is required, effective the first day of employment for all permanent full-time and part-time employees. Temporary employees must enroll in the retirement program once they have worked 750 hours in a calendar year.
Employees have 30 days from the first day of eligibility to select enrollment in either the ARP or SERS. If you do not make an election, you will automatically be enrolled in the SERS plan. Your election or default election is irrevocable and cannot be changed.
Group Retirement ComparisonThe State System offers two additional voluntary options to save and invest extra money for retirement. Whether you are supplementing your group retirement plan or you are not eligible to enroll in the group retirement plan, the voluntary retirement plans are available to all employees upon their date of hire.
Employees can choose to contribute up to the annual IRS limits in both plans. There are no employer contributions for these plans.
Voluntary Retirement Comparison
| Plan | Employee Contribution | Employer Contribution |
| Alternative Retirement Plan | 5% | 9.29% |
| SERS Class A5 Hybrid Plan | 8.25% | 2.25% + Pension Fund Calculation* |
| SERS Class A6 Hybrid Plan | 7.5% | 2% + Pension Fund Calculation* |
| SERS Class 40 – Investment Plan | 7.5% | 3.5% |
*The pension plan employer contribution is calculated each year based on assets and liabilities of SERS pension fund.
