The Alternate Retirement Program (ARP) allows full-time and part-time faculty to contribute 5% of their salaries to a pension plan, while the state contributes 8% to the plan. There are currently 24 funds available for investment purposes. For more information, please visit the State of Connecticut’s Defined Contribution Plans website. For a comparison of all the available retirement plans, please see here.
In 2009-2010, a great deal of activity took place regarding the ARP. Please see the timeline below:
- In 2009, a number of ARP participants raised concerns about the plan, which lead to the filing of a grievance through the State Employees Bargaining Agent Coalition (SEBAC). The grievance alleges that some state employees were “steered “into the Alternate Retirement Plan (ARP).
- The grievance was settled in arbitration on September 22, 2010.
- A delay in Award implementation has occurred due to the State Employees Retirement Commission’s decision to seek advice on certain tax related questions and concerns surrounding the provisions of the Award.
- For more information, please click here.