Retirement

As a faculty member, you are automatically enrolled in STRS upon your hire, rehire, or job change.  Faculty who are considered full time also have the choice to elect the ARP, however part time and adjunct faculty members are not eligible.  All faculty members are eligible to participate in the supplemental 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 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.  To learn more about the ARP, please review the Alternative Retirement Plan Tab.

As a staff member, you are automatically enrolled in OPERS upon your hire, rehire, or job change.  Staff who are considered full time also have the choice to elect the ARP.  Staff members who are not considered full time are not eligible for the ARP.  All staff members are eligible to participate in the supplemental 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.  To learn more about the ARP, please review the Alternative Retirement Plan Tab. 

The Alternative Retirement Plan(ARP), a 401(a) account, 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.  The account balance consists of contributions made by the employee and the employer, along with the account’s investment gains or losses.  This provides flexibility to the employee to make choices that are right for you.

Ohio Law 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 is known as the mitigating rate.  The mitigating rate is subject to fluctuation and may increase or decrease at any time based on current law.

The current mitigating rate for staff who selected the ARP in place of OPERS is 2.24%.  

The current mitigating rate for faculty who selected the ARP in place of STRS is 2.91%.  

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 the state retirement system. 

The ARP Plan Document defines retirement as age 65.  If you participate in the ARP and choose to leave BGSU prior to age 65, it will be considered a resignation and not a BGSU retirement.

If you elect to participate in an ARP and waive your right to participate in the state retirement system 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 the state retirement system. 

Both your contributions and the contributions of BGSU are fully vested immediately in the ARP, however there are no defined benefits such as disability or health care.  The vested account balance would be available to the employee or beneficiary in the event of retirement, termination, disability, or death.

As a participant in the ARP at Bowling Green State University, you are entitled to change your ARP vendor to another BGSU approved vendor, anytime throughout the calendar year.  To do so, please use the Retirement @ Work website. 

The ARP Plan Document is available upon request from the Office of Human Resources.

The university has four approved providers that you may select from.

Bowling Green State University offers supplemental savings options to help employees plan for retirement.  This allows you to set aside additional money through pre-tax contributions to help reach your retirement goals.  Most employees are eligible to participate in the 403(b) and 457(b) plans.   When making your selection, remember to consider fees, surrender charges, and investment returns.

If you would like to participate in the 457 program, please contact Ohio Deferred Compensation directly at 1-877-644-6457 or view their website.  

The 403b Plan Document is available upon request from the Office of Human Resources.

The university has four approved providers that you may select from.

If you would like to participate in the 403(b) program, please enroll by using the Retirement@Work website.   You may make changes to your supplemental retirement plan election at any time.  

Should you have any questions, please contact the Office of Human Resources at 419-372-8421.