What retirement plan options are available?
Employees do not contribute to Social Security but rather are automatically enrolled in the State Universities Retirement System, if they are employed in a position that requires work for a continuous academic term or four months, whichever is less. Three different SURS retirement plans are available to employees: the Traditional, Portable or Self-Managed plan. New employees have six months to make the choice as to which option will best suit their needs; the choice is irrevocable.
The Program is able to tailor your retirement plan to best suit your needs. Different plans make sense for different practices. The program will work with your practice to determine if a traditional 401(k), safe harbor 401(k), simplified employee pension, simple IRA or other design fits your specific needs.
