Retirement

Eligibility

Full-time Faculty and Staff are eligible to participate in one of two mandatory retirement plans:

State Employees Retirement System (SERS)

  • General Phone Number           (800) 633-5461
  • Local Office - State College    2525 Green Tech Drive, Suite AA
                                                  State College, PA  16803

Penn State Alternate Retirement Plan (Administered by TIAA)

  • General Phone Number          (800) 842-2252
  • Local Office – State College  (814) 278-5000
                                                 328 Innovation Boulevard
                                                 Suite 301
                                                 State College, PA 16803

Part-time Faculty and Staff: Eligible to participate in one of the two retirement plans once they have worked 750 hours in a given calendar year. Employees who meet the hourly requirement will be contacted by their unit's Human Resources Representative to discuss enrollment. All elections must be received within 30 days of notification of eligibility or you will automatically be enrolled in SERS, based on state regulations.  Once you are enrolled in a retirement plan, the enrollment is irrevocable. Additionally, if you are enrolled in the TIAA retirement plan, and return as a part-time employee after having not received any pay for more than 155 calendar days, you must re-qualify for a retirement plan by working 750 hours in a given calendar year. However, you may enroll in a TIAA supplemental retirement plan at any time. 

Full-time Faculty and Staff: Have 30 days from the effective date of your appointment to choose your retirement plan.  If you do not make your decision within that time period, state regulations require that you automatically be enrolled in SERS. Once you are enrolled in a retirement plan, the enrollment is irrevocable. However, you may enroll in a TIAA supplemental retirement plan at any time.

Postdoctoral Employees: Are not eligible to participate in the mandatory retirement plan, but may enroll in a TIAA  supplemental retirement plan at any time. 

Retirement Plan Comparison

To see the retirement plan comparisons, please choose the option below that pertains to you:

 

 

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