Retirement

Bowling Green State University supports the efforts of all employees to plan a fulfilling secure retirement.  As part of the benefits package and total rewards, the university offers several options to assist you with meeting your financial goals. Please review the BGSU Approved Providers page for important information.

Unsolicited contact from financial advisors may appear legitimate even if they are not approved reirement plan providers. Please check the list of approved providers before responding. 

Mandatory Retirement Plan Options

Retirement program eligibility is based on your employment type. The two state-mandated retirement programs are the State Teachers Retirement System (STRS) and the Ohio Public Employees Retirement System (OPERS). In addition, we also provide the Alternative Retirement Plan (ARP) option, which is available for full-time employees only.

Both the employee and the University contribute to your retirement account. Employee contributions are made on a pre-tax basis; federal and state taxes are deferred until benefits are paid. Employees of Ohio public colleges and universities do not participate in the federal Social Security system, other than contributions to Medicare. If you are eligible for a Social Security benefit from other employment in addition to your OPERS/STRS/ARP benefit, there may be a reduction in your Social Security benefit. Learn more about the Windfall Provision at Social Security Administration website.

Ohio law (Ohio Revised Code Section 3305.06) requires a portion of the employer contribution for an ARP member go to the state retirement system to mitigate any negative financial impact of the ARP on the state retirement system. This portion is known as the mitigating rate. In addition, OPERS and STRS have the authority to collect a mitigating rate from the employer contribution made on behalf of their members who elect their defined contribution or combined plan. The mitigating rate is subject to fluctuation and may increase or decrease at any time based on current law. Only the Ohio General Assembly has the ability to reduce the impact of the mitigating rate on plan participants. 

Faculty | STRS

As a faculty member, you are automatically enrolled in STRS upon your hire, rehire, or job change. Full-time Faculty also have the choice to elect the Alternative Retirement Plan (ARP), however part-time and adjunct-faculty members are not eligible. All faculty members are eligible to participate in the voluntary retirement plans.

Full-time faculty who select to participate in an ARP, an election form must be received by the Office of Human Resources no later than 120 days from, and including, the effective date of your eligible appointment. If an ARP election form is not received timely, you will automatically be placed into STRS. If you remain in STRS, you have 180 days from your date of hire to select a plan within STRS.

If you elect to participate in an ARP and waive your right to participate in the STRS, it is irrevocable while continuously employed at BGSU. You would have to have a break in service of 365 days or more, in order to change to STRS.

To compare the difference between the STRS plans and an ARP, please see retirement plan comparison chart provided by STRS website.

Both you and the University contribute to your retirement account. Your contributions are made on a pre-tax basis; federal and state taxes are deferred until benefits are paid. Benefits are exempt from local and municipal taxes within Ohio, except school district income tax. Any investment return on your account is also tax-deferred.

To learn more about the three options offered by STRS, please visit the STRS website or contact them directly at 1-888-227-7877.

Administrative/Classified Staff | OPERS

As a staff member, you are automatically enrolled in OPERS upon your hire, rehire or job change. Full-time staff also have the choice to elect the Alternative Retirement Plan (ARP), however staff members who are not considered full-time are not eligible. All staff members are eligible to participate in the voluntary retirement plans.

If you elect to participate in an ARP, an election form must be received by the Office of Human Resources no later than 120 days from, and including, the effective date of your eligible appointment.  If an ARP election form is not received timely, you will automatically be placed into OPERS. If you remain in OPERS, you have 180 days from your date of hire to select a plan within OPERS.

If you elect to participate in an ARP and waive your right to participate in the OPERS it is irrevocable while continuously employed at BGSU. You would have to have a break in service of 365 days or more, in order to change to OPERS.

Both you and the university contribute to your retirement account. Your contributions are made on a pre-tax basis; federal and state taxes are deferred until benefits are paid. Benefits are exempt from local and municipal taxes within Ohio, except school district income tax. Any investment return on your account is also tax-deferred.

To learn more about the three options offered by OPERS, please visit the OPERS website or contact them directly at 1-800-222-7377.

Approved Retirement Providers

BGSU has selected TIAA to assist with ongoing administration plans. Visit this resource page to learn more about TIAA's services and contact information for the state retirement plans and the providers of the University-sponsored plans. 

Voluntary Retirement Savings Plans

BGSU offers two voluntary retirement plans, the 403(b) and 457(b). Eligible employees may participate in both plans, which doubles the available amount that can be contributed each year, up to the annual IRS limits, on a pre-tax and/or Roth basis.

Alternative Retirement Plan (ARP)

BGSU offers a 401(a) Alternative Retirement Plan account, and is a defined contribution plan in which an employee and employer contribute a defined pre-tax percentage of pay. The employee makes the investment decisions and those choices determine the amount of investment risk that the employee bears.

Updated: 03/18/2024 10:02AM