Washington State University offers retirement plan options for Faculty and Administrative Professional (AP) employees to participate in.
For Faculty and AP hired prior to July 1, 2011, the retirement plan offered was the Washington State University Retirement Plan (WSURP). As of July 1, 2011, new Faculty and AP employees have two retirement plans to elect to participate in:
- The Washington State University Retirement Plan (WSURP) (for Faculty and Administrative Professional), OR
- The Teachers Retirement System (TRS) Plan 3 (for Faculty), OR
- The Public Employees Retirement System (PERS) Plan 3 (Administrative Professional)
New employees have 30 days from their date of hire to irrevocably select the retirement plan they wish to participate in by completing the Retirement Participation Election form (form A). As of January 1, 2012, participation in the selected plan is required as of the hire date, and contributions will begin as of that date. In the majority of cases, if an employee has not made a selection within 30 days, they will be defaulted to the WSURP.
Retirees or individuals who are eligible to retire under a Department of Retirement Systems plan are not eligible to participate in the WSURP. Newly hired individuals who have had prior Washington State retirement plan service should contact Human Resource Services to discuss their retirement plan participation options.
More detailed information is available below:
- The Washington State University Retirement Plan (WSURP)
For Faculty and AP, with the plan vendor being TIAA.
- DRS Plan 3 The Teachers Retirement System (TRS) Plan 3
- The Public Employees Retirement System (PERS) Plan 3
For Administrative Professionals
Employees of WSU who move from a civil service or hourly position to a faculty or AP position should contact HRS to discuss their retirement plan participation options.
Additional retirement saving options are universally available to all employees through the Voluntary Investment Plans offered through WSU payroll deduction.