Vesting After 5 years of creditable service. Benefits based on account accumulation, which consist of contributions, investment performance and expenses. Contributions State contributions are actuarially determined. No employee contribution. Employees bear no risk.
Employee selects one of four investment vendors and selects investment options.
The employee bears the risk. Benefits may begin upon separation from employment. Portability Within some state agencies only. Complete portability with other academic institutions. Retiree Health Benefits Prorated state subsidy after 5 years of creditable service.