Employee Benefits - Fringe Benefits
C.E.S.P. 8-10: U.A. Optional Retirement Plan - Federal Employees
Date Revised: 5-15-2014
Summary: Establishes policies and procedures for participation in the University of Arkansas Retirement Plan for Civil Service Retirement System employees, Civil Service Retirement System Offset employees and Federal Employees Retirement System.
Civil Service Retirement System (C.S.R.S., C.S.R.S. Offset) employees and Federal Employees Retirement System (F.E.R.S.) may participate in the University of Arkansas Retirement Plan (the Plan)
• C.S.R.S. employees may make contributions to the Plan, but it is not mandatory. Extension will contribute an amount equal to 5 percent of the employee's salary. Employees may contribute any amount. Extension will match the employee's contribution up to 9.2 percent of $62,700 plus 3 percent of salary above $62,700.
• C.S.R.S. Offset employees may participate in the Plan. Extension will match the employee's contribution up to 3 percent of salary.
• F.E.R.S. employees may make contributions to the Plan, but it is not mandatory. There is no employer matching contribution.
• Employees are vested immediately.
There are two companies in the Plan: Fidelity Investments and T.I.A.A./C.R.E.F. Employees may allocate contributions to either company or both. Fidelity Investments is a mutual fund company which offers the employee an opportunity to make pooled investments in stocks, bond, and short-term investments. T.I.A.A./C.R.E.F. is a nonprofit life insurance company which offers investment opportunities in long-term bonds and common stocks. Benefits from each include lifetime annuities and lump sum payments.
For additional information about these retirement plans you may contact the Human Resources Office at 501-671-2219.