Alternative Retirement Plan (ARP)

All full-time faculty and staff members who are appointed to work at least 75% full-time equivalency (FTE) are eligible to enroll in the Alternative Retirement Plan (ARP). The ARP is a defined contribution retirement plan and the retirement benefit is determined by the amount of contributions and investment earnings which accumulates in the ARP account over time. If elected, ARP enrollment is a replacement for your participation in either the State Teachers Retirement System of Ohio (STRS) or the Ohio Public Employees Retirement System (OPERS).

Enrollment in the ARP must be indicated within the first 120 days of eligible employment. To enroll, you will need to select and establish an ARP account with one of five active ARP vendors listed below.  Once your account is established, you will need to complete the Retirement Plan Election Form (PDF) and return to Human Resources within 120 days of your hire date.  

What are the ARP contributions?
An ARP participant and Wright State University is required to contribute the same amount under the ARP as they would to the state retirement systems (STRS or OPERS).

                            Employee                             WSU
OPERS             10% of salary                   14%* of salary
STRS                14% of salary                   14%* of salary

Ohio Revised Code Section 3305.06 requires, when an ARP is chosen, that a portion of the employer contribution be sent to the state systems (STRS or OPERS) to “mitigate” (lessen) any negative financial impact of the ARP enrollment on the state systems.

*Mitigating Fees:          

ARP-STRS         4.47% to STRS, remaining 9.53% of WSU’s contribution to your ARP

ARP-OPERS      2.44% to OPERS, remaining 11.56% of WSU’s contribution to your ARP

ARP – Changes to Mitigating Rate Effective July 1, 2017 (PDF) – Emailed April 11, 2017

Vesting and Retirement

You are immediately vested in both your employee and Wright State University contributions to your ARP account. Should you leave Wright State for any reason at any time, the full balance is available to you for a withdrawal or a rollover to an IRA or another employer qualified account.  You will need to consider all IRS tax laws when making a decision regarding a distribution or rollover. 

Retirement occurs when you leave Wright State at age 59 ½ or later, regardless of your years of service.

Changing ARP Vendors

Once selected, ARP participants are eligible to change ARP vendors to another Wright State University approved ARP vendor at any time. To initiate a vendor change, your first step is to set-up an account with your chosen vendor.  Once complete, you will need to submit an ARP Vendor Change Form (PDF) to Human Resources instructing Wright State University to send your new ARP contributions to your new vendor.  NOTE: Your existing balance will remain with your existing vendor. If you desire to transfer your balance, your new vendor can assist you with the necessary paperwork which will need to be submitted to Human Resources for processing.  Please allow sufficient time for these changes to occur in accordance with the Payroll processing timelines.  

ARP Vendors

One of these approved ARP vendors can be selected for your ARP Contributions:
 

AXA

4000 Smith Rd., Suite 300
Cincinnati, OH 45206
(513) 762-7734 or (800) 551-2423
https://us.axa.com/home.html

Representative: Glynnis Reinhart
(513) 382-5865

Representative: Ed Buffington
(937) 367-6600

Plan ID# 652523

Fidelity Investments

Representative: Don Harvey
(513) 760-8472

100 Magellan Way KW22
Covington, KY 41015

Open an ARP Account online at https://nbacctopen.fidelity.com/

Use Plan ID #22306

TIAA-CREF

485 Metro Place South, Suite 450
Dublin, OH 43017
(877) 277-6446
www.tiaa-cref.org/wright

Representative: Randy Martinez
(614) 659-1025

Representative: Laura Maxwell
Cincinnati, OH
(513) 263-2825
(877) 209-3138 xt 25-2825

Plan ID# 103346  

VALIC

8050 N. High St.
Columbus, OH 43235
(800) 448-2542
www.valic.com/ohiohighered

Representative: Carrie Cummings
(937) 542-2936

Plan ID# WSUARP

Voya Insurance and Annuity Company (formerly ING)

10100 Innovation Drive
Suite 120
Miamisburg, OH 45342
www.voya.com
www.voyaretirementplans.com

Representative: Brian Link, CRPC®
(937) 353-5490
BrianLink@voyafa.com

Representative: Laurel Link
(937) 353-5491
LaurelLink@voyafa.com

Representative: Jeffrey Rankin
(937) 353-5492
JeffreyRankin@voyafa.com

Representative: Donnie Bell
(937) 353-5495 or (800) 451-4702 Ext. 4025495
donnie.bell@voyafa.com

Plan ID# VF2233


 

These are inactive ARP vendors who may still be handling prior ARP balances:
 

Lincoln National Life Insurance Company

Representative: Lenardo Colvin
(513) 251-1452 or (866) 956-1189
P.O. Box 141124
Cincinnati, OH 45250
(800) 454-6265
www.lincolnfinancial.com

Plan ID#: CR31549

Nationwide Life Insurance Company

Vantage Point Financial Services, LLC.

329 Regency Ridge Drive
Centerville, OH 45459
(937) 432-1111
www.vantagepointadvisor.com

Representative: Mark Black, CFP®
(937) 272-4899


 

ARP – Changes to Mitigating Rate Effective July 1, 2017 (PDF) – Emailed April 11, 2017