Office of Human Resources
Location:
Dwight Hall Room 207
Office Hours:
Monday - Friday 9 a.m. to 5 p.m.
Ph: 508-626-4530
F: 508-626-4581
Mailing Address:
Office of Human Resources
Framingham State University
100 State Street, P.O. Box 9101
Framingham, MA 01701
Retirement Plans
The Commonwealth of Massachusetts requires that all employees both state and contract enroll in a qualified retirement plan. The State Board of Retirement administers the State Employees’ Retirement System (“SERS”). Membership in the system is mandatory for nearly all state employees who are regularly employed part-time (18.75 hours a week) or greater. In addition to the “SERS, the Board of Higher Education has an Optional Retirement Plan (“ORP”) for its members in accordance with section 401(a) of the Internal Revenue Code. Contract employees and those who do not meet the membership criteria of either of these programs are required to enroll in the Alternate Retirement Plan (OBRA). Commonwealth retirees do not contribute to any Commonwealth Retirement Plan.
For information about Retirement Plan options, please see the information below. Questions regarding enrollment may be directed to the Office of Human Resources at ext. 4530.
Retirement Programs:
The State Employees’ Retirement System is
administered by the State Board of Retirement.
The Board of Higher Education’s Optional Retirement Plan is administered
by the Department of Higher Education.
The Alternate Retirement Plan is administered by the Deferred
Compensation Unit at the Office of the State Treasurer.
Each of these programs is offered to Commonwealth employees based on eligibility.
State Employees’ Retirement SystemThe State Employees' Retirement system is a defined benefit plan provides predictable and guaranteed retirement income. In this type of plan, the employer bears the investment risk. The Commonwealth is responsible for ensuring that adequate funds are available to pay the benefit that has been promised to you at retirement. This plan is available to all part-time, benefited and all full-time, benefited employees.
Board of Higher Education Optional Retirement Plan (ORP)
The Board of Higher Education Optional Retirement Plan “(ORP”) is a defined contribution plan where contributions made by the employee and the Commonwealth are invested in custodial accounts or retirement annuity contracts offered by providers which have been approved by the Higher Education Coordinating Council. Only limited positions are eligible to participate in this program, as an alternative to the SERS. This plan is only available to faculty, librarians, professional and senior administration employees.
Alternate Retirement Plan (OBRA)
The IRS has issued regulations regarding retirement coverage for public employees (both state and contract) who are not members of a state retirement plan. The Omnibus Budget Reconciliation Act of 1990 (OBRA) regulation mandates that such public employees participate in an alternate retirement plan after July 1, 1991.
The definitions of types of employees required to contribute to the Alternate Retirement plan include employees who normally work 18.75 hours or less per week; employees who work on a full-time basis for less than 5 months in a year; and employees performing services for the employer pursuant to a contract of less than 2 years in duration. An employee must contribute 7.5% to this plan. Additional Discretionary employee deferrals to OBRA are permitted.
Special note regarding Social Security: Massachusetts state employees do not have social security taxes withheld from their earnings. Employees retiring with a state pension who are eligible for social security benefits may have their social security benefits reduced by Social Security's windfall elimination provision or government pension offset. Please contact your local Social Security Office if you have questions regarding this information.
