Worcester State University
Human Resources & Benefits

 
Retirement


State employees do not contribute to Social Security (FICA). Membership in the Massachusetts Retirement System is mandatory; Vice Presidents and Deans must choose between membership in the State Employees’ Retirement System (SERS) and the Optional Retirement Program (ORP). If the employee enrolls in ORP, s/he must choose the company into which her/his funds will be invested. The companies are: Lincoln National, TIAA-CREF and VALIC. 9% of the first $30,000, plus an additional 2% (for a total of 11%) on the amount over $30,000, of gross salary is deducted each pay period before taxes. The State also contributes 5% for each deduction. These deductions are refundable upon termination of State service before the age of 55.

 
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