[NCASG] Question on retirement plan options

[Sunderland, Dori B]

The State of West Virginia has the Public Employees Retirement System for
the majority of the state employees (excluding teachers, judges,
law enforcement, etc. who have their own plan). Employees *do not* have a
choice and are put into either Tier 1 or Tier 2 based on their hiring date
(anyone before July 1, 2015 is in Tier 1 and everyone on or after is Tier
2). I have included an attachment with basic information about our various
retirement plans in case you would like that information.

Please let me know if you have any questions.

Thanks,

*Dori B. Sunderland, M.S.*

Human Resources Manager

Classification and Compensation

WV Division of Personnel

*Phone*: 304.414.0854
*Address*: WV State Capitol Complex, Building 3, Suite 500

1900 Kanawha Boulevard East

Charleston, WV 25305

*Website*: https://protect-us.mimecast.com/s/uIVRCERpXxf6znQ1uNH6f-?domain=personnel.wv.gov <https://protect-us.mimecast.com/s/DetlCG6rX8ULPqVWc7MWDS?domain=personnel.wv.gov>


On Tue, May 31, 2022 at 2:43 PM Hart, Lynn L. <lyhart at nd.gov> wrote:

> Do your state employees have an opportunity to choose among alternative
> retirement plans?
>
>
>
> Here in North Dakota, our main retirement plan is a defined benefit
> (pension) plan.  The state also offers a defined contribution retirement
> plan.  Currently only non-classified employees and appointed and elected
> officials are eligible for the defined contribution plan, but there was an
> earlier period (October 2013 to July 2017) when the plan was available to
> all regular state employees.   New, eligible employees can make an
> irrevocable choice within the first six months of employment to opt out of
> the defined benefit plan and participate in the defined contribution plan.
>
>
>
> Does your state offer any similar option?
>
>
>
> To keep the question simple, I am ignoring the fact we have separate
> retirement plans for judges and law enforcement.
>
>
>
> I would appreciate any information you can provide.
>
>
>
> Thanks,
>
>
>
> Lynn Hart, SPHR, SHRM-SCP, CCP, CEBS
>
> *Total Rewards Manager*
>
>
>
> 701.328.4739     •     *lyhart at nd.gov <lyhart at nd.gov>*     •     *https://protect-us.mimecast.com/s/B1NnCJ6xKQUQ2y7pFzghzC?domain=omb.nd.gov
> <https://protect-us.mimecast.com/s/B6EbCKry7QCrY9j8UAzcXm?domain=nd.gov> *
>
>
>
>
>
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