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Wednesday January 28th 2015

Notice to SERS, ARP, and Hybrid Plan participants

In March 2013, the State Comptroller and university Human Resources departments distributed information to eligible SERS (Tier II & IIA) and Hybrid Plan participants (see “Important Notice”). 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.” Please be advised, the deadline to retain the normal retirement date of age 60 with 25 years of service or age 62 with 10 years of service has been extended to September 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 the deadline. Employees transferring to the Hybrid plan after 9/1/13 will have 30 days from the time they submit their documents for the transfer to elect to “grandfather” their normal retirement date.

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