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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 number of contributions and investment earnings that accumulate 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 it to Human Resources within 120 days of your hire date.
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).
|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.
- 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
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 distribution or rollover.
Retirement occurs when you leave Wright State at age 59 ½ or later, regardless of your years of service.
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.
One of these approved ARP vendors can be selected for your ARP Contributions:
8050 N. High St.
Columbus, OH 43235
Representative: Carrie Cummings
Plan ID# WSUARP
4000 Smith Rd., Suite 300
Cincinnati, OH 45206
Representative: Ed Buffington
Plan ID# 652523
100 Magellan Way KW22
Covington, KY 41015
Representative: Don Harvey
Plan ID# 22306
485 Metro Place South, Suite 450
Dublin, OH 43017
Representative: Randy Martinez
Representative: Laura Maxwell
877-209-3138 Ext. 25-2825
Plan ID# 103346
10100 Innovation Drive Suite 120
Miamisburg, OH 45342
Representative: Brian Link, CRPC®
Representative: Laurel Link
Representative: Jeffrey Rankin
Representative: Tina Hohl
Plan ID# VF2233
These are inactive ARP vendors who may still be handling prior ARP balances:
P.O. Box 141124
Cincinnati, OH 45250
Representative: Lenardo Colvin
513-251-1452 or 866-956-1189
Plan ID#: CR31549