If you were hired on or before July 1, 1984 and elected to participate in the State Employees Retirement System you are a member of Plan A, Plan B or Plan C of the Tier I plan. Membership was elected between October 1, 1973 and December 31, 1973 if you were hired prior to April 1, 1973; mandated thereafter by statute if you were hired prior to July 2, 1984, or elected by you in lieu of membership, if eligible, from TIER II or another state system, through October 1, 1985, the last date on which a transfer membership was allowed.

For detailed information, please check http://www.osc.state.ct.us/empret/tier1summ/index.html

If you were first hired by the University (or the state) on or after July 1, 1984 you are a member of the non-contributory Tier II Plan, unless you were eligible to elect membership in another retirement plan.

For detailed information, please check http://www.osc.state.ct.us/empret/tier2summ/index.html

If you were first hired by the University on or after July 1, 1997, you are a member of the contributory Tier IIA Plan, unless you were eligible to elect membership in another plan.

For detailed information, please check http://www.osc.state.ct.us/empret/tier2asumm/index.html

Unclassified employees of the University are eligible to participate in the Alternate Retirement Program. Full time eligible employees must make a written election to participate in the plan within six months of employment. Those who fail to make a selection within the time period will be defaulted into Tier IIA. Eligible part time employees have 90 days from the date of employment to make a selection. Those who do not wish to join a retirement plan must sign an irrevocable waiver.

Currently ING Life Insurance and Annuity Company (ING) is the third-party administrator for the State of Connecticut Alternate Retirement Program. ING is responsible for counseling participants on asset allocations, financial education, and record keeping for the retirement account. The annual administrative fee is .12% for ING services.

The Alternate Retirement Program (ARP) is a defined contribution plan. Participants in ARP must contribute 5% of their gross salary and the State will match 8% based on the employee’s gross salary.

The ING investment menu offers participants 24 different options to invest in. These 24 investment options fall into four categories.

• A Stable Value Option: provides a periodically declared rate and a guaranteed minimum rate of 3.00%.
• Target Date Life Cycle Funds: a portfolio of investment options that track to a certain date for retirement.
• Passively Managed Index Funds: designed to mirror a specific market index.
• Actively Managed Funds: receive the attention of a portfolio or team manager who monitors the individual stock positions in their fund on a daily basis.

 
The State of Connecticut Retirement and Benefits Services Division is responsible for the ongoing review of the Plan to make available developments in plan services, technology, education and investments.

Upon hire, participants in the ARP will have their asset allocations defaulted to the Connecticut Stable Value Fund. Upon receiving a confirmation letter of enrollment and PIN from ING, participants may make asset allocation changes via the website www.CTdcp.com and selecting Account Access, through a toll-free telephone number 1-800-584-6001, or through the agency’s assigned ING representative. An ING representative visits Eastern Connecticut State University periodically and newly hired employees are encouraged to review their asset allocations with the representative.

Contact Information for ING:
Toll-free telephone: 1-800-584-6001
Via Internet: www.CTdcp.com

Check the link for complete information about ARP.

The Teachers Retirement System is available to AAUP members at the time of hire at ECSU. As part of membership in the TRS, state law requires that contributions of 7.25% of your annual salary be paid into the retirement fund. You contribute 6% of your annual salary to your personal retirement account and 1.25% of your annual salary to the Health Insurance Account used to fund health insurance benefits for retired members and their spouses.

For details, please check the Teacher's Retirement Board web site.

Part time lecturers must select a retirement plan or waive membership in a retirement plan within 90 days of your employment. If you do not make an election or sign a waiver form within 90 days, you will automatically become a member of SERS. No change of retirement plan membership is permitted after initial election or following 90 day default. Once membership in a retirement plan is waived the adjunct faculty member is no longer eligible to participate in a retirement plan in any subsequent part-time employment with CSU or the Board of Governors of Higher Education or any other of its constituent units within the State of Connecticut including the Community Colleges. However, if you elect ARP membership and are subsequently employed in a position not eligible for ARP participation, you must be enrolled in SERS.

Upon employment, part time lecturers must complete one or more of the forms listed below:

• Waiver of Retirement Plan Participation
• Adjunct Faculty Retirement Election Form
• Form CO-931: Designation of Retirement System-Tier-Plan-Beneficiary
• Form CO-1088: Retirement Credit Purchase Request for Prior Miscellaneous Service (Tier IIA members only)
  

• Employee Handbook
• State Retirement and Benefits Services
•   Social Security Administration
• ING
•   ING Retirement Workshop Library
• TIAA-CREF