Retirement

The retirement plans described below are the current versions available to new hires. If you were hired prior to 7/1/17 or are a postdoctoral research associate hired prior to 1/14/22, your plan features will be different. Information about the SERS Tier I, II, IIA, and III Plans can be found at the following website: https://www.osc.ct.gov/rbsd/stateretire.htm. For ARP participants, the employer and employee contributions may vary and are identified in your paycheck deductions and Prudential statements.

State Employees Retirement System (SERS) Tier IV

The following chart describes the SERS Tier IV retirement plan for employees hired on or after 7/1/17.

Type of Plan
Defined Benefit
Eligibility State Employees (full- and part-time)
Employee Contribution 1. 5% (8% Hazardous Duty) of compensation (pre-tax)(plus up to an additional 2% for adverse actuarial performance)

2. Mandatory 1% of compensation (pre-tax) to a defined contribution plan

Employer Contributions 1. Actuarially determined
2. 1% of compensation (pre-tax) to a defined contribution plan
Benefit Calculation Formula based, in part, on average of 5 highest years earnings and years of service.
Investment Method Professional Managed
Investment Risk Employer
Earliest Benefit Eligibility Age 58 +10 years of vesting service
Normal Retirement Age Age 63, 25 years of vesting service
Age 65, 10 years of vesting service
Hazardous Duty Retirement: Any age after completing 25 years of hazardous duty service
Disability Retirement Yes, at any time for service-related disability. If unrelated to service, 10 years of vesting service required.
Minimum Vesting Period 10 years vesting service
Benefit Form Lifetime monthly benefit payment
Cost of Living Adjustments Yes
Additional Employee Contributions? No
Pre-Retirement Death Benefit? Spousal benefit, if employee met age and service required for immediate retirement or completed 25 years of service (at any age). If not, contributions are refunded.
Purchase of Service Credit Allowed (restrictions apply)
Rollovers from other retirement plans? No
Limit on wages used to calculated contributions IRS Limits Apply
Employee Social Security & Medicare Participation Both
Portability None
More Information www.osc.ct.gov/rbsd/stateretire.htm

State Employees Retirement System Hybrid Plan (Hybrid)

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

The following chart describes the SERS Hybrid Plan retirement plan for employees hired on or after 7/1/17.

State Employees Retirement System Hybrid Plan

Type of Plan Defined Benefit with a "CashOut" Option
Employee Contribution 1. 8% of compensation (pre-tax)(plus up to an additional 2% for adverse actuarial performance)

2. Mandatory 1% of compensation (pre-tax) to a defined contribution plan

Employer Contributions 1. Actuarially determined
2. 1% of compensation (pre-tax) to a defined contribution plan
Benefit Calculation Formula based, in part, on average of 5 highest years earnings and years of service.
Investment Method Professional Managed
Investment Risk Employer
Earliest Benefit Eligibility Age 58 +10 years of vesting service
Normal Retirement Age Age 63, 25 years of vesting service
Age 65, 10 years of vesting service
Disability Retirement Yes, at any time for service-related disability. If unrelated to service, 10 years of vesting service required.
Minimum Vesting Period 10 years vesting service
Benefit Form Lifetime monthly benefit payment
OR
One-time, lump-sum "cash out"
Cost of Living Adjustments Yes, if lifetime monthly benefit payment elected
Additional Employee Contributions? No
Pre-Retirement Death Benefit? Spousal benefit, if employee met age and service required for immediate retirement or completed 25 years of service (at any age). If not, contributions are refunded.
Purchase of Service Credit Allowed (restrictions apply)
Rollovers from other retirement plans? No
Limit on wages used to calculated contributions IRS Limits Apply
Employee Social Security & Medicare Participation Both
Portability None
More Information www.osc.ct.gov/rbsd/stateretire.htm

Alternate Retirement Program (ARP)

The following chart describes the Alternate Retirement Program (ARP) for employees hired on or after 7/1/17 and for postdoctoral research associates hired on or after 1/14/22.

Alternate Retirement Program (ARP)

Type of Plan Defined Contribution
Employee Contribution 6.5% of compensation (pre-tax); employees may elect to contribute 5% of compensation (pre-tax)
Postdoctoral research associates: 5%
Employer Contributions 6.5% of compensation
Benefit Calculation Based, solely, on contributions and investment performance
Investment Method Employee-directed through menu of mutual or annuity funds
Investment Risk Employer
Earliest Benefit Eligibility Age 55 (applies to employees with 5 or more years of participation
Normal Retirement Age Age 65
Disability Retirement No; employer-provided disability insurance policies. May continue 13% contributions to plan during disability.
Minimum Vesting Period None (immediate)
Benefit Form Flexible (lump sum, periodic, or monthly payment)
Cost of Living Adjustments Not applicable
Additional Employee Contributions? No
Pre-Retirement Death Benefit? Account balance payable to spouse or named beneficiary, as applicable
Purchase of Service Credit Not applicable
Rollovers from other retirement plans? Allowed
Limit on wages used to calculated contributions IRS Limits Apply
Employee Social Security & Medicare Participation Both
Portability Yes, if employee separates from service before 5 years of plan participation
More Information www.CTdcp.com

Teachers Retirement System (TRS)

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 8.25% : (7% pension, 1.25% retiree insurance fund) 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 IRS Limits Apply
Employee Social Security & Medicare Participation Medicare only
Portability None
More Information www.CTdcp.com

Retiree Health

Retiree Health Fund Contributions

Generally, employees who qualify for State-paid healthcare under the State Employee Medical Plan are required to contribute 3% of their compensation on a pre-tax basis to offset the cost of future retiree healthcare benefits. Employees hired prior to 7/1/17 are required to contribute for 10 years; employees hired on or after 7/1/17 are required to contribute for 15 years. Employees who leave prior to becoming eligible for retiree health benefits qualify for a refund of their contributions.

Employees who have earned retiree health benefits through a previous employer can apply for an exemption. If granted, no Retiree Health Fund contributions will be required and the employee is exempted from eligibility for the Retiree Health Plan.

More information about the Retiree Health Fund is available at 3% Contribution for Retiree Health Coverage (ct.gov).

Eligibility for Retiree Health Plan

The rules regarding eligibility for participation in the Retiree Health Plan are based on hire date and retirement plan as outlined in Division Memorandum 2013-06.

Retiree Life Insurance

Employees who are enrolled in the State’s Basic Life Insurance Plan at retirement will qualify for a reduced amount of life insurance free in retirement. For employees with 25 years or more of service, the amount will be one-half. That amount will be prorated for employees with less than 25 years of service. Employees who retire under a hazardous duty retirement receive one-half regardless of their years of service.

More information about the plan is available at the following website: https://www.osc.ct.gov/empret/grouplife/plandoc.htm#retire.

Retirement Savings Plans (403b, 457)

The State’s 403(b) and 457 plans are voluntary retirement savings plans that offer tax-favored ways to save for retirement. You have the option to defer income 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.

Information, including plan highlights and enrollment forms, is available at www.ctdcp.com or by calling 1-844-505-7283.