Bonus Contributions

Q. Will the state make additional contributions to my account?

If a participant was an employee or elected officer on July 1, 2007 and retires after June 30, 2007 but before July 1, 2017 with unreduced retirement benefits and has at least 15 years of state service (10 years for an elected or appointed officer), they will then receive the product of $1,000 times the years of state service credited to their account.

For a Retired Participant who has continuous service with more than one Employer, years of service are the sum of all of the Retired Participant’s years of service with all Employers.

(See Section 3.4 of the Plan document)

Q. When will I receive this additional contribution?

A. The Retired Participant’s Employer must make the additional contribution ($1,000 x eligible years of service) no more than 60 days after the Retired Participant’s last day of service.

(See Section 3.4)

Q. If I transfer to an eligible agency, can I use time accrued at an ineligible agency to count towards creditable time or bonus contributions?

A. No, years of service that accrued to an individual at an ineligible agency may not be included in determining the individual’s eligibility for the retirement medical benefits account.

(See Section 2.6 and 2.8)

Q. Will I continue to receive annual contributions after I retire?

A. A Retired Participant’s Reimbursement Account will not be increased after the Participant becomes a Retired Participant.

(See Section 3.6)