A Form 2-Notice of Enrollment will be sent to the employee in the benefits orientation package. This form must be completed by the new employee, include a designation of beneficiary and notarized signature, and returned to the Personnel Office. They will process the application, record the designation of beneficiary, assign a retirement account number, and send a confirmation to the employee and employer when this process is completed. If a beneficiary change or update is needed, the employee should contact the Personnel Office to request a Form 2C-Change in Beneficiary. The employee contributes 6 percent of gross salary which is tax-sheltered from Federal and State income taxes.
Payment is made through payroll deduction.
Of General Administration's contributions, 8.15 percent funds the Retirement System Pension Fund, 0.52 percent funds the Disability Income Plan, 0.16 percent funds the Death Benefit Trust Fund, and 2.00 percent funds the Health Plan Reserve. After one year of creditable service, if a member dies while in active service, the beneficiary is eligible to receive the Death Benefit, which provides a single lump sum payment. This benefit is also paid if the member dies within 180 days of the last day for which the member was paid salary. This benefit is in addition to any other benefits to which the beneficiary may be entitled. The Personnel Office provides information about each of the disability plans including eligibility criteria, coverage provisions, the application process and how to access these benefits.