ARP Retirement News

August 2014
The enclosed statement includes
an account summary covering
July 1, 2013 through June 30, 2014.
ARP Newsletter
Information about the Alternate Retirement Program
What’s the Alternate
Retirement Program?
ARP is a retirement savings program
administered by Savings Plus. Eligible
employees were automatically enrolled
for their first two years of employment
with the State of California. ARP
provides up to two years of retirement
savings in lieu of retirement service
credit under CalPERS.
You may have heard ARP ended on
June 30, 2013 and wonder why you’re
still in the program. As of July 1, 2013,
new State employees are no longer
enrolled in ARP. However, existing
ARP participants remain in the program
through its normal duration. For more
information, visit savingsplusnow.com.
Select the ARP tab, then How Does
ARP Work?
Employees enrolled
in ARP in 2010
This year, you’ll make a decision about
your ARP account (Phase III). You’ll
receive a postcard in your 45th month
of ARP participation notifying you of
your upcoming election period.
How does ARP work?
ARP has three phases. Here’s a summary of each phase:
Phase I
Phase II
Phase III
Months 1-24
Month 25
Months 47-49
Month 51
For the first 24 months
after you become
a CalPERS member,
you contribute to
your ARP account.
At Month 25, you
begin to accrue
CalPERS retirement
service credit.
You elect a
payout option.
Savings Plus
processes your
payout election.
The amount deducted
from your check depends
on whether you’re an
excluded, exempt, or
represented employee
and the bargaining
terms therein.
Your paycheck deductions Option 1: Transfer your ARP funds to CalPERS
automatically stop going in return for service credit for the time you
to ARP and begin going
worked during Phase I.
to CalPERS.
Option 2: Take a distribution of your ARP funds.
Under IRS rules, your
Option 3: Transfer your ARP funds to a
ARP funds must remain
Savings Plus 401(k) account.
in your ARP account for
two additional years.
At Month 25, your personnel office
should give you CalPERS Publication 52,
State Miscellaneous & Industrial
Members Retirement Benefit Election
Package. Contact your personnel office
if you don’t receive it.
At Month 45, you’ll receive a postcard
in the mail that you’re approaching
your Phase III decision period.
Just prior to Month 47, you’ll receive
your ARP Payout Election Notification
in the mail. It’s important that you
make an election. For details about
this process, visit savingsplusnow.com,
select the ARP tab, then How Does
ARP Work?
Visit savingsplusnow.com and select the ARP tab for details about the
Alternate Retirement Program and to access your account online.
savingsplusnow.com • (855) 616-4SPN (4776)
Basic facts about your
ARP account
How do I access my
account online?
• Although
The first time you access your
account through savingsplusnow.com:
you don’t receive
retirement service credit with
CalPERS during Phase I, you’re still
a CalPERS member and entitled to
other CalPERS benefits.
• Select
Go to Secure Site
• Select
Are you a new user?
• ARP
• Enter
• Your
• Review/confirm
is governed by the IRS as a
401(a) Plan.
ARP timeline begins when you
become CalPERS-eligible. This might
not be when you started State service.
• Savings
Plus invests ARP funds in
the Short Term Investment Fund–
ARP, a capital preservation fund.
• If
you permanently separate from
State employment, you’re eligible
to take a distribution from your
ARP account. For details, go to
savingsplusnow.com and select
Leaving Employment on the
ARP page.
• You
may contribute to a Savings Plus
401(k) and 457 Plan while in ARP.
Go to savingsplusnow.com
and select the 401(k)/457 Plans tab
to learn more.
personal identifiers for
authentication purposes
your
contact information
• Create
a User ID, password,
and hint
Who do I contact with
ARP questions?
Contact your personnel office if
you have questions about your ARP
eligibility. For additional information
about the program, read the ARP Fact
Sheet available at savingsplusnow.com.
Select the ARP tab, then Forms and
Publications. Or call a Service
Center representative.
• Choose
security questions
and answers
• Register
your device
Update your address
if you move!
It’s important that we have your current
mailing address to ensure you receive
your annual statement, ARP Newsletter,
and critical communications for Phase
III. If your address changes and you’re
still employed with the State, notify your
personnel office of your new address.
If you’re no longer employed with the
State, you have two ways to change
your address with Savings Plus:
at savingsplusnow.com—log
in to your account, select Your Profile
and then Personal Information
• Online
• Call
Savings Plus toll-free at
(855) 616–4SPN (4776)
California Department
of Human Resources
1515 S Street
North Building, Suite 500
Sacramento, CA 95811
Contact Information
savingsplusnow.com
(855) 616-4SPN (4776)
Relay Service: Dial 711
FAX (847) 554-1804
Service Center representatives are
available 7:00 a.m. to 7:00 p.m. PT,
Monday–Friday for online chat or
by phone
Walk-in Service Center
1810 16th Street, Room 108
Sacramento, CA 95811
Enter on 16th Street, between R and S streets
SOC129.0714
146281
ARP Newsletter • August 2014
Open 8:00 a.m. to 5:00 p.m. PT,
Monday–Friday, excluding
State holidays

Download Report