|FRS Investment Plan:
||Public Employee Optional Retirement Plan (PEORP) is a new defined contribution program. Participants are fully invested after one year of creditable service. The College pays all contributions.
|Type of Plan:
||Defined contribution plan
||Full-time and regular part-time employees are eligible. During your first five months of employment, you have the option to remain in the FRS-Regular Class or enroll in the FRS Investment Plan.
||You are vested after one year of creditable service. Pension plan service counts toward the one-year requirement.
||The College pays all contributions toward your retirement plan.
||Your retirement benefit is based upon the benefit option you select and your annuity account balance, which is based on employer contributions, income and investment gains/losses, minus account expenses.
||You must meet the vesting requirement. There may be tax implications if you retire prior to the year of your 55th birthday.
|Other Plan Features:
||This retirement plan has a disability feature and health insurance subsidy.
|Selection of Investment Plans:
||Information is available on the MyFRS Web portal or by calling the toll-free employee service number: 1.866.446.9377.