Retirement & Savings Programs
California State University offers retirement programs to both full-time employees, and eligible part-time and temporary employees. In addition, employees can take advantage of various voluntary retirement and savings programs.
Full-time appointments that exceed six months and half-time appointments averaging 20 hours per week for one year or longer are automatically enrolled in this employer/employee funded plan. You can find more detailed information about retirement plans and options at the CSYOU website. CSU Employee Resources Retirement Page
Employees excluded from CalPERS membership are covered by the CSU Part Time Seasonal Temporary (PST) Retirement Plan.
The CSU 403(b) Supplemental Retirement Plan (SRP), formerly referred to as the Tax Shelter Annuity Program (TSA), is a voluntary program that allows eligible CSU employees to save toward retirement under Internal Revenue Code [IRC Section 403(b)].
The Savings Plus Plan (SPP) is a voluntary retirement savings program for eligible state and CSU employees, offering pre-tax or Roth (after-tax) contributions through payroll deductions.
Eligible Faculty members who retire and participate in the Faculty Early Retirement Program are provided benefits through CalPERS.
ScholarShare is California's 529 College Savings Plan. Earnings grow tax-deferred, and distributions for qualified higher education expenses are tax-free. California State employees can make automatic payroll deductions, and the money can be used at accredited colleges, vocational-technical schools, in-state or out of state, including eligible foreign institutions. Benefits include:
- Earnings on after-tax contributions grow tax-deferred
- No federal or state taxes on qualified distributions
- Wide range of investment options
- High contribution limits