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Talent Development and Human Resources

Retirement Plans

Retirement Plans

Full-time employees must participate in one of two programs:  A State of Ohio retirement system or the Alternative Retirement Plan.   All full time employees may enroll in the Alternative Retirement Program, but each of the retirement systems is assigned based on job duties.  For example, only faculty members may enroll in STRS, which police officers may enroll in OPERS-LE.

The University also offers several voluntary retirement plans and tax sheltered annuities to employees including traditional 403(b), 457, and Roth 403(b) accounts.   Contact the Office of Benefits Administration for more information.

*This chart has been prepared by The University of Akron to provide a very broad overview of the plan options currently available.  Please refer to the specific plan documents for more detailed information.   Should any information differ between this sheet and the official plan documents, the plan documents shall prevail.

Retirement Plans Information

 

System/Vendor

Name

Website

Employee Contribution

University Contribution

Defined Contribution or Defined Benefit?

STRS

Ohio State Teachers Retiree System

www.strsoh.org

10%

14%

Both

SERS

The School Employees Retirement System of Ohio

www.ohsers.org

10%

14%

Defined Benefit

OPERS-LE

Ohio Public Employees Retirement System

www.opers.org

11.6%

18.10%

Both

ARP

Alternative Retirement Plan

Vendor Contacts

10%

14% - mitigating rate

Defined Contributions

The University of Akron

Akron, OH 44325
Phone: 330-972-7111
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