BASE RETIREMENT SAVINGS EMPLOYER CONTRIBUTIONS UC and UCP offer the following retirement contributions in lieu of contributing to social security. As state of Ohio public employees, employees will not contribute to social security.
FACULTY OPTION 1: STRS: STATE TEACHERS RETIREMENT SYSTEM Available to full-time and part-time employees Vesting schedule applies UC contribution: 11.09% - defined contribution plan 14% - defined benefit plan 14% - combined plan Employee mandatory contribution – 14% OPTION 2: ARP: ALTERNATIVE RETIREMENT PLAN Available to full-time (100% FTE) employees Defined contribution plan Immediate vesting UC contributes 11.09% of employee’s eligible pay Employee mandatory contribution – 14% STAFF OPTION 1: OPERS: OHIO PUBLIC EMPLOYEE RETIREMENT SYSTEM Available to full-time and part-time employees Vesting schedule applies UC contribution: 11.5% - defined contribution plan 14% - defined benefit plan Employee mandatory contribution – 10% OPTION 2: ARP: ALTERNATIVE RETIREMENT PLAN Available to full-time (100% FTE) employees Defined contribution plan Immediate vesting UC contributes 11.76% of employee’s eligible pay Employee mandatory contribution – 10%
ALL EMPLOYEES Available to full-time and part-time employees Defined contribution plan UCP contribution: 8.5% of first
$360,000 (IRS limit) Max $30,600 annual contribution
As part of the total
compensation package, UCP may contribute an
additional amount Annual limit of $72,000
PLAN INFORMATION
Immediate vesting
No employee
mandatory contribution
STATE SYSTEM STRS OPERS
ARP AXA VOYA
PLAN ADMINISTRATORS
FIDELITY
FIDELITY TIAA
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