The SERS Tier IV retirement plan is available to all state employees, both full- and part-time. It is a defined benefit plan (pension) based on years of service and salary.
Employees contribute 5% (hazardous duty employees contribute 8%), plus up to an additional 2% for adverse actuarial performance. There is a mandatory 1% contribution to 401a, which the State matches.
An employee must serve for 10 years to vest in SERS Tier IV.
 

SERS Tier IV Retirement Plan

The State Employees Retirement System Hybrid Plan (Hybrid) is available to AAUP, UCPEA, Management/Confidential, and Law School Faculty. It is a defined benefit plan (pension) with a cash-out option. Employees contribute 8%, plus an additional 2% for adverse actuarial performance. There is a mandatory 1% contribution to 401a, which the State matches.

Employees must serve for 10 years to vest in the Hybrid Plan. At retirement, vested employees have a choice of a SERS benefit (pension) or a cash out employee contributions. If the cash out option is chosen, the employee receives their contributions, plus a 5% State match, plus 4% interest.

• Plan Document
• Enrollment Form
• Beneficiary Form

 

State Employees Retirement System Hybrid Plan

The Alternate Retirement Program (ARP) is available to AAUP, UCPEA, Management/Confidential, and Law School Faculty. It is a defined contribution plan.Employee contribute 5% or 6.5%, which the State matches 6.5%.

Administered through Prudential, employees direct how monies are invested. Vesting is immediate.

Long-Term Disability Coverage is provided to ARP members at no cost to the employee.

• Plan Document
• Enrollment Form
• Beneficiary Form

 

Alternate Retirement Program (ARP)

The Teachers Retirement System (TRS) is available to AAUP, UCPEA, Management/Cionfidential, and Law School Faculty with previous service in the TRS. It is a defined benefit plan. Employees contribute 7.25% (exclusions apply). Employees must serve for 10 years to vest in TRS.

• Plan Document
• Enrollment Form
• Beneficiary Form

Teachers Retirement System (TRS)

Type of Plan	Defined Contribution
Eligibility	State employees in a position requiring CT teaching certification or employees teaching in CT higher education system (half-time or more). There may be CBA limitations.
Employee Contribution	7.25% of compensation (pre-tax), excluding earnings from coaching, summer school, or non-teaching.
Employer Contributions	Actuarially determined
Benefit Calculation	Formula based on average of 3 highest years earnings multiplied by years of service.
Investment Method	Professionally managed
Investment Risk	Employer
Earliest Benefit Eligibility	20 years of service (15 in CT), age 55 25 years of service (20 in CT), any age
Normal Retirement Age	Age 60 + 20 years of CT service Any age, 35 years of service (25 in CT)
Disability Retirement	Yes, disability allowance available
Minimum Vesting Period	10 years CT service
Benefit Form	Monthly benefit payment
Cost of Living Adjustments	Yes
Additional Employee Contributions?	Yes, into Voluntary Account (after tax only)
Pre-Retirement Death Benefit?	Spousal benefit payable if employee met age and service requirements for retirement. If not, survivorship benefit will be paid.
Purchase of Service Credit	Allowed (restrictions apply)
Rollovers from other retirement plans?	No
Limit on wages used to calculated contributions	$270,000 (2017)
Employee Social Security & Medicare Participation	Medicare only
Portability	None
More Information	www.CTdcp.com

Adjunct faculty are eligible to enroll in the Alternate Retirement Plan (ARP) or waive membership. Election to enroll or waive is irrevocable.

• Plan Document
• Enrollment Form
• Beneficiary Form
• Waiver of Retirement Plan Participation for Adjunct Faculty

Many families discover – sometimes too late – that their retirement and Social Security income are insufficient after retirement. The state’s Defined Contribution retirement savings plans can help you save for a more financially secure retirement. Defined Contribution Plans are voluntary retirement savings plans that permit you to defer income into the retirement plan either on a pre-tax basis or after-tax (Roth) basis. The plans offer a wide variety of investment options and accept pre-tax funds (rollovers) from other 401, 403(b), and 457(b) government plans and traditional IRAs.

457 Plan Eligibility
Employees are eligible to enroll in the plan on their first day of employment, provided they are age 18 or over. The minimum contribution is $20 per pay period.

Additional information, including plan highlights and enrollment forms, are available at http://www.ctdcp.com or call 1-844-505-7283.

403(b) Plan Eligibility
Employees are eligible to enroll in the plan on their first day of employment, provided they are age 18 or over. The minimum contribution is $200 annually, which equals $8 per pay period. While the 403(b) is not available to all State of Connecticut employees, UConn employees (including UConn Health) are eligible to enroll.

Additional information, including plan highlights and enrollment forms, are available at http://www.ctdcp.com or call 1-844-505-7283.

How to Enroll
Enrollment in either plan is open all year. Prudential representatives can assist you in completing an enrollment form and discuss the investment options available to you. You may also obtain an enrollment form online at http://www.ctdcp.com or call 1-844-505-7283.