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POLICY #5.36 
SUBJECT: State Retirement System Plan


I. PURPOSE

The purpose of this Policy is to summarize policy for contributory and non-contributory systems of the state retirement program.


II. REFERENCES

  1. Utah System of Higher Education Policy R851 Guidelines for Retirement Programs

III. DEFINITIONS

N/A


IV. POLICY

  1. The State of Utah administers a retirement program under Federal and state law, and regulations of the Internal Revenue Service. Staff employees of SUU whose employment normally requires an average of 20 or more hours each week and who receive benefits normally provided by the institution are eligible for enrollment in the retirement program. A person already enrolled in the Utah State Retirement System (USRS) on the date of employment or re-employment may elect to maintain USRS enrollment regardless of the fact that they have been employed in a position otherwise requiring enrollment in the TIAA/CREF program.
  2. Contributory and non-contributory systems, as defined by the Internal Revenue Service, are offered to employees under guidelines issued by the State Retirement Board. Both systems are approved for SUU employees.
  3. Further information on the retirement program and its associated benefits are available from the Human Resources Office.

V. RELEVANT FORMS/LINKS

N/A


VI. QUESTIONS/RESPONSIBLE OFFICE

The responsible office for this Policy is the Vice President for Finance and Administration. For questions about this Policy or the state retirement program, contact the Office of Human Resources.


VII. POLICY ADOPTION AND AMENDMENT DATES

Date Approved: November 2, 1990

Amended: May 7, 2004