Membership is mandatory for all employees in covered positions.
Covered positions include state employees with at least 1,000 hours of paid work per year. Non-school employees must complete one year of continuous employment prior to becoming a member. The State Board of Regents plan covers only faculty and certain unclassified employees in Regents universities. The employees' retirement annuities are based on the total amount of money accumulated in their personal defined contribution account. This consists of the amount of employee contributions during their career, the amount of employer contributions on their behalf, and the investment earnings thereon.