REGENTS UNCLASSIFIED RETIREMENT - TAX SHELTERED ANNUITIES
The Board of Regents Basic Retirement Plan provides a defined contribution retirement program for unclassified Board of Regents employees. All unclassified employees who are eligible shall participate in the Plan after completing one year of service. Eligible employees may, under certain circumstances, be permitted to enroll right away. The major features of this plan are:
- Employee contributions are tax sheltered.
- Vesting is immediate. The current value of the combined employee and employer contributions is payable to beneficiaries if the employee dies before retirement.
- The employee's contributions shall be made to any one of two approved insurance companies:
* TTAA/Cref (Teachers Insurance Annuity Association/College Retirement Equities Fund).
- Employee contributions are 5.5% of gross compensation and are tax sheltered. Employer contributions are 8.5% of gross compensation.
- Members do not make contributions to KPERS but are covered by the KPERS Death and Disability Benefits Program.
- The Board of Regents approved Plan Document for the Mandatory Retirement Plan for faculty and unclassified academic and professional staff at the state universities can be found at http://kansasregents.org/download/index.htm
Board of Regents Retirement - 403(b) Program
Board of Regents employees also have available a 403(b) voluntary retirement program. For more information, employees should contact their university Human Resources Office.