Retirement

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. 

Need assistance?

Employees who need help navigating their retirement benefits and other financial priorities such as budgeting, debt, credit, college savings and more, can rely on CAPTRUST's participant advice program. They are available to help you plan, save, invest and retire comfortably. Their services can assist you with selecting a retirement plan, budget toward financial goals, manage accumulated debt and make sure you stay on track.

To take advantage of the available CAPTRUST services, call 800-967-9948 or visit the CAPTRUST website.

Faculty | STRS

As a faculty member, you are automatically enrolled in STRS at the time of hire. Full-time faculty also have the choice to elect the Alternative Retirement Plan (ARP). 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 calendar days from, and including, the effective date of your eligible appointment. If an ARP election form is not received timely, you will automatically remain in STRS. If you remain in STRS, you have 180 calendar days from your date of hire to select an option 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 must 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 at the time of hire. Full-time staff have the choice to elect the Alternative Retirement Plan (ARP). All full-time and part-time 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 calendar days from, and including, the effective date of your eligible appointment.  If an ARP election form is not received timely, you will automatically remain in OPERS. If you remain in OPERS, you have 180 calendar days from your date of hire to select an available option within OPERS.

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

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.