 Retirement Plans and Programs

All University employees are encouraged to supplement their state and federal retirement benefits by participating in one or more of the supplemental retirement savings programs available to them.

With a defined benefit plan, benefits are based on salary, years of service and a retirement factor. The retirement benefit is not based on the amount of contributions nor the investment earnings. The retirement benefit for a defined benefit plan is based on a formula and not on the amount you or the state contribute. There is no investment risk for the individual since the state takes on the risk and guarantees the retirement benefit.