As a full- or part-time member of the support staff hired between July 1, 1989 and June 30, 1993, you were considered a participant in the Pension Plan immediately upon employment. You were 100% vested in the Plan after five years of service. “Vesting” refers to your ownership of your Plan benefit.
If you were hired between July 1, 1993 and June 30, 2009 you are a participant in the Pension Plan once you complete two continuous years of full-time or part-time service. You are 100% vested immediately upon participation.
Support staff members hired on or after July 1, 2009 are not eligible for the Pension Plan.
About the Plan
The monthly retirement income you’ll receive from the Plan is based upon:
- Your length of service with the university;
- Your earnings and salary history while at the university; and
- Your age when retirement income payments begin.
You can obtain an estimate of your pension benefits from the Empower/Prudential Online Retirement Center at www.prudential.com/online/retirement or by calling customer service at 877-778-2100.
When you can retire:
- Normal retirement date: The first day of the month or following your 65th birthday.
- Early retirement: As soon as you reach 55, provided you are fully vested.
- Late retirement: Generally, any time after your normal retirement date.
When you’re vested:
- 100% vested after five years of service, if you were first employed prior to July 1, 1993.
- 100% vested immediately upon becoming a participant, if you were first employed between
July 1, 1993 and June 30, 2009.