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Monday November 24th 2014

Notice to ARP and Hybrid Plan participants (updated Q&A)

The State Comptroller and university Human Resources departments recently distributed information to eligible SERS (Tier II & IIA) and Hybrid Plan participants (see here). The letter states that “Beginning July 1, 2022 the Normal Retirement Date will be raised to age 63 with 25 years of service or age 65 with 10 years of service… This letter explains an opportunity for eligible members to make a one-time irrevocable option to retain a normal retirement date of age 60 with 25 years of service or age 62 with 10 years of service… The forms must be completed and signed prior to July 1, 2013.”

CSU-AAUP has received several inquiries from ARP participants who are considering transferring to the Hybrid Plan about their ability to utilize the option after July 1, 2013. SEBAC has revised its Q&A to address these questions from ARP participants. Please see “Q&A Cumulative Revision as of 3/26/13,” specifically questions 27 and 28, for more information.

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