Take advantage today

Your specific eligibility in the Alternative Retirement Plan (ARP) is determined by your employer at date of your full-time employment.

As an eligible employee, you have 120 days from commencement of full-time employment to enroll in the ARP plan or you will be automatically enrolled in the state defined benefit plans. Your choice between the ARP and the state defined benefit plan is generally irrevocable once elected.

Please note that you should review your University's plan document in order to get the specific details of your plan or you may contact your financial professional.

Starting early has its advantages

Your contributions

An employee who participates in the plan is deemed to have authorized the employer to deduct a certain percentage of your compensation to be deposited as a nonelective contribution to the plan.

Employer contributions 

Your employer contributes a certain percentage of your total compensation to the plan as well. The actual percentage amounts for the employee and employer contributions are determined based on whichever state system you were eligible to participate under. Please contact a financial professional for more information about contribution percentages and amounts. 

Vesting

Vesting is a participant’s right of ownership to the money in his or her plan account. You are always 100% vested in employee contributions, rollover contributions, plus any earnings they generate.

For employer contributions, vesting schedules may apply. See your University's plan document for more details.

Please note that you should review your University's plan document in order to get the specific details of your plan or you may contact your financial professional.

Accessing your money 

Withdrawals

Generally, the money in your account may be distributed under any of the following circumstances per your University's plan provisions: 

• Separation from service
• Retirement
• Disability
• Death 

Income taxes are payable upon withdrawal. Federal restrictions and a 10% federal early withdrawal penalty may apply to withdrawals prior to age 59½ unless an exception applies. Be sure to talk with your tax advisor before withdrawing any money from your plan account.

Loans

Loans may be permitted subject to your employer’s ARP plan document allowances. Please contact a financial professional or your employer for more information regarding loan provisions related to all of your employer's retirement plans. 

Please note that you should review your University's plan document in order to get the specific details of your plan or you may contact your financial professional.