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Ohio Administrative Code (Last Updated: January 12, 2021) |
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3342 Kent State University |
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Chapter3342-6. Administrative Policy on Awards and Compensation for University Employees |
3342-6-10. University policy regarding retirement
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(A) Salary deducion.
(1) It is mandatory that tenured, tenure track, and non-tenure track faculty holding membership within a bargaining unit participate in either the state teachers retirement system of Ohio (STRS) or a qualified alternative retirement plan (ARP).
(2) It is mandatory that full-time classified staff and unclassified administrative staff participate in either Ohio public employees retirement system (OPERS) or a qualified alternative retirement plan (ARP).
(3) Faculty, classified staff, and unclassified staff retirement contributions (the deferred salary) are calculated with each payroll. The deferred salary is forwarded by the univeristy to the appropriate retirement system to be applied on behalf of the employee. The university makes an additional contribuiton. Current contribution percentage amounts are available from the university benefits office.
(4) Pamplets containing information on the STRS, OPERS, and ARP retirement plans are available in the benefits office or on the university's human resources website.