Full-time employees and continuing part-time employees working 30 or more hours per week are enrolled in the Teachers’ and State Employees’ Retirement System. Six percent is deducted monthly from all wages earned to contribute to this retirement benefit, and the state contributes a percentage of all wages paid as the employer’s contribution to the employee’s retirement account.
As of July 1, 1982, employees’ contributions were placed into a State employee tax-sheltered annuity account. These contributions are deferred from State and Federal income taxes until the employee retires or withdraws the funds.
For additional retirement information, see Separation from the College and Re-employment of Retired Persons in this Employee Handbook.