554.0 |
Retirement Plans |
| P-554.0 |
The College participates, as required by
Missouri State Law, in the Public School Retirement System of
Missouri (PSRS) and the Public Education Employees Retirement
System of Missouri (PEERS). |
| Pr-554.0.1 |
Eligible employees are required, at hire or
when hours hired to work reach eligibility levels, to
participate in either the PSRS or PEERS.
The College determines into which system employees are
placed by following eligibility rules set forth by the
PSRS/PEERS. |
| Pr-554.0.2 |
PSRS contribution amount, effective July
2008 is 13% plus a College match of 13%. PEERS contribution
amount, effective July 2008 is 6.25% plus a College match
of 6.25%. |
| Pr-554.0.3 |
Employees eligible to participate in the PSRS
do not contribute to the social security part of FICA, but
they do contribute to the Medicare portion. |
| Pr-554.0.4 |
The Payroll Department is available to answer
questions; however, employees are encouraged to call
PSRS/PEERS member services at 1-800-392-6848. |
| Pr-554.0.5 |
Membership information will be issued to
eligible employees by the Human Resources Department.
Employees may also call PSRS/PEERS member services at the
number listed above or access information on-line at
www.psrs-peers.org |
