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: 9.53% - 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 AS PART OF THE TOTAL COMPENSATION PACKAGE, UCP MAY CONTRIBUTE AN ADDITIONAL AMOUNT ANNUAL LIMIT OF $61,000 IMMEDIATE VESTING NO EMPLOYEE MANDATORY CONTRIBUTION $305,000 (IRS LIMIT) MAX $25,925 ANNUAL CONTRIBUTION
PLAN INFORMATION
STATE SYSTEM STRS OPERS
ARP AXA VOYA
PLAN ADMINISTRATORS
FIDELITY TIAA
FIDELITY TIAA
PLAN ELECTIONS ARE MADE BY SUBMITTING THE UC RETIREMENT PLAN ELECTION FORM VIA EMAIL TO benefits@uc.edu IF NO ELECTION IS MADE WITHIN 120 DAYS OF THE START OF EMPLOYMENT, EMPLOYEES WILL BE ENROLLED IN THE APPLICABLE STATE SYSTEM (STRS/OPERS) IF YOU ELECT THE ARP, VENDOR AND INVESTMENT CHOICES ARE MADE VIA THE UC NETBENEFITS PLATFORM www.netbenefits.com/universityofcincinnati o ACCESS TO THE ARP ACCOUNT IN NETBENEFITS IS AVAILABLE AFTER UC BENEFITS RECEIVES THE UC RETIREMENT PLAN ELECTION FORM AND SENDS A CONFIRMATION EMAIL TO THE EMPLOYEE
VENDOR AND INVESTMENT CHOICES CAN BE MADE ANYTIME VIA THE UCP NETBENEFITS PLATFORM www.netbenefits.com/ucp DEFAULT VENDOR IS FIDELITY NEW HIRES ARE ENTERED INTO NETBENEFITS 2X PER MONTH
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