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Core-CT HRMS Daily MailDate: 10/4/2017 SEBAC Agreement – Tier II ARP Hybrid Plan The 2017 SEBAC agreement called for employees participating in the Tier II
ARP Hybrid plan to have the option of reducing their employee ARP contributions
to offset the required increase in SERS contributions. It has been determined
that allowing such an option may conflict with IRS rules. For that reason, the
negotiating parties have instructed the Comptroller’s Office to reduce the ARP
contribution (deduction code RSHYA) for such employees by 1.5 percent (to .5
percent) beginning on the 10/13/17 check date. Employees who wish to increase
the amount of their retirement savings in light of this change can do so through
the state’s 403(b) or 457 plans, which have identical investment menus to the
ARP. Please inform any affected employees in your agency of this pending
reduction and their options for increasing their retirement contributions
through the 403(b) or 457 plans. Return to Core-CT HRMS Daily Mail Home Page
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