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Supplemental Retirement Options

Kent State offers a variety of retirement plans.  Employees at Kent State are required to participate in one of the state retirement systems - Ohio Public Employees Retirement System (OPERS) or the State Teachers Retirement System of Ohio (STRS).  University employees do not contribute to the federal social security system and all retirement benefits related to their employment come from the state retirement system(s).  Employees who at some time work in employment covered by the federal social security system may have an adjustment in their social security benefits as a result of their coverage under one of the state retirement systems.  The Windfall Elimination Provision notice from the Social Security Administration Form SSA-1945 contains more information on this adjustment.

Full-time classified and unclassified employees may elect to participate in either OPERS or an Alternative Retirement Plan (ARP).  Full-time faculty members may elect to participate in either STRS or an ARP.  Part-time classified and unclassified employees must participate in OPERS and part-time faculty must participate in STRS.  There is no ARP option available for part-time employees.

In addition, all university employees are eligible to participate in the 403(b) and 457 retirement savings programs described below.


Tax Deferred Annuity Program (403(b) Plan)

Tax deferred annuities as provided in §403(b) the Internal Revenue Code are available through payroll deduction providing employees with the opportunity to invest in a fixed annuity, a variable annuity, a combination of both or in mutual funds. The University does not contribute to this program.  Employees must establish an account with an approved 403 (b) vendor and submit a Salary Reduction Agreement to the Benefits Office in order to enroll in a plan.  A list of the annuity companies authorized for payroll deduction and the Salary Reduction Agreement form are available on this site.  For calendar year annual contributions to a §403(b) plan click HERE.  NOTE:  The contribution limits for future years will be announced by the IRS during the fourth quarter of the previous year.

Contact the Benefits Office at 330-672-3107 for more information.

Deferred Compensation Program (457 Plan)

Deferred compensation programs as provided in §457 the Internal Revenue Code are available, permitting employees to have portion of their pay contributed on a tax deferred basis via payroll deduction. These programs are known as "457 plans" because they are authorized under §457 of the Internal Revenue Code.  A list of the companies authorized for payroll deduction  and the Salary Reduction Agreement form are available on this site. Employees wishing to establish a 457 account with one of the insurance companies on the list should complete an application with the company and submit a Salary Reduction Agreement to the Benefits Office. The Ohio Public Employees Deferred Compensation Plan, not Kent State, handles enrollment in its §457Plan. For calendar year annual contributions to a 457 plan click HERE.  NOTE:  The contribution limits for future years will be announced by the IRS during the fourth quarter of the previous year.

Contact the Benefits Office at 330-672-3107 for more information.