This is a reminder that as of January 1, 2013, purchase of Additional Retirement Service Credit (non-qualified service credit) will not be an option for CSU employees. The ability to purchase this type of service credit is eliminated as the result of Assembly Bill 340 (Public Employee Pension Reform Act of 2012), unless the employee submits an application to CalPERS prior to 1/1/13.
The current Savings Plus contract for administrative services with Nationwide Retirement Solutions expires at the end of the year. After a thorough proposal and evaluation process, Savings Plus awarded the new contract to Aon Hewitt effective January 2, 2013. This change brings exciting new features, cutting-edge technology, and interactive tools designed to make retirement planning easier.