The Alternate Retirement Program (ARP) allows full-time and part-time faculty to contribute 5% of their salaries to a pension plan, while the state contributes 8% to the plan. There are currently 24 funds available for investment purposes. For more information, please visit the State of Connecticut’s Defined Contribution Plans website. For a comparison of all the available retirement plans, please see here.
In 2009-2010, a great deal of activity took place regarding the ARP. Please see the timeline below:
1. In 2009, a number of ARP participants raised concerns about the plan, which lead to the filing of a grievance through the State Employees Bargaining Agent Coalition (SEBAC). The grievance alleges that some state employees were “steered “into the Alternate Retirement Plan (ARP).
2. The grievance was settled in arbitration on September 22, 2010.
3. A delay in Award implementation has occurred due to the State Employees Retirement Commission’s decision to seek advice on certain tax related questions and concerns surrounding the provisions of the Award.