Alternative Retirement Plan (ARP)
The Alternate Retirement Program (ARP) allows UConn Health Center Faculty to contribute 5% of their salaries to a pension plan, while the state contributes 8% to the plan. There are currently 24 funds available for investment purposes. For more information, please visit the State of Connecticut’s Defined Contribution Plans website. For a comparison of all the available retirement plans, please see here.
In 2009-2010, SEBAC members raised concerns that they had been “steered” into the ARP, the defined contribution plan, and away from the SERS or Hybrid Plans, both defined benefit plans. A grievance was filed on their behalf.
The grievance was settled in arbitration on September 22, 2010. A delay in Award implementation has occurred due to the State Employees Retirement Commission’s decision to seek advice on certain tax related questions and concerns surrounding the provisions of the Award. For more information, please click here.