Retirement

Retirement Plans

Each eligible State of Connecticut employee is required to be enrolled in a retirement plan (see eligibility chart, below). The Office of the State Comptroller offers four different retirement plans, depending on eligibility.

Retirement Plan Comparison

 

Retirement Plan Eligibility, by Audience

Audience SERS Hybrid ARP
Management / Confidential Yes Yes Yes
UCPEA Yes Yes Yes
AAUP & Law School Faculty Yes Yes Yes
Adjunct Faculty* No No Yes
Post-Docs No No No
NP-2 Yes No No
NP-3 Yes No No
NP-5 Yes No No
Graduate Assistants / Interns / Fellows No No No
Special Payroll No No No
* Part-time adjunct faculty members may elect to waive retirement plan membership. A part-time adjunct's election to waive is irrevocable.

Employees must elect their chosen retirement plan on or before their first day of employment. If an employee fails to elect a retirement plan, the State will default the employee into a retirement plan, as shown below.

Default Retirement Elections Chart, by Applicable Bargaining Unit

UConn - Faculty* AAUP ARP
UConn - Non-Faculty UCPEA Hybrid
UConn - Unclassified Non-Union Management / Confidential SERS Tier IV
* Part-time adjunct faculty members may elect to waive retirement plan membership. A part-time adjunct's election to waive is irrevocable.

 

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.

  • Plan Document
  • Enrollment Form
  • Beneficiary Form

 

SERS Tier IV Retirement Plan

Type of Plan
Defined Benefit
Eligibility State Employees (full- and part-time)
Employee Contribution 1. 5% of compensation (pre-tax)
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
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 $270,000 (2017)
Employee Social Security & Medicare Participation Both
Portability None
More Information www.osc.ct.gov/rbsd/stateretire.htm

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

Type of Plan
Defined Benefit with a "CashOut" Option
Eligibility Teachers and professional staff memebers within CT higher education system and central office of Department of Higher Education
Employee Contribution 1. 8% of compensation (pre-tax)
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 $270,000 (2017)
Employee Social Security & Medicare Participation Both
Portability None
More Information www.osc.ct.gov/rbsd/stateretire.htm

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)

Type of Plan
Defined Contribution
Eligibility Teachers and professional staff members within CT higher education system and central office of Department of Higher Education
Employee Contribution 6.5% of compensation (pre-tax); employees may elect to contribute 5% of compensation (pre-tax)
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 $270,000 (2017)
Employee Social Security & Medicare Participation Both
Portability Yes, if employee separates from service before 5 years of plan participation
More Information www.CTdcp.com
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/trb
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://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://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://CTDCP.com or call 1-844-505-7283.