Retirement Benefits for Employees - Benefits Office

Summary

Ohlone College offers its employees a generous pension plan and various retirement savings plans (403(b) and 457B) enabling employees to achieve a secure retirement following their career. 

CalPERS

The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that manages pension for more than 1.6 million California public employees, retirees, and their families. 

Employees hired on or after January 1st, 2013 are subject to restrictions imposed by PEPRA.

Under this plan, employees contribute 6% ( for employees who are hired after Jan. 1st, 2013 and affected by PEPRA) or 7% (for employees hired before Jan 1st, 2013 and considered Classic employees) of their salary to their CalPERS retirement plan. The District contributes a percentage of the employees’ salary towards their retirement.

A list of most requested CalPERS forms are available below:

Website and Customer Service Contact

CalSTRS

  • Active CalSTRS Employee:
    • Common forms for Active CalSTRS Employee
  • Employees Who are Leaving CalSTRS Membership:
    • Common forms for transitioning CalSTRS Employee
  • Planning for Retirement:
    • Common forms for retiring CalSTRS Employee

Website and Customer Service Contact

  • CalSTRS website
  • Member Services

Tax Sheltered Annuities - 403(b)/457B

Ohlone College provides supplemental retirement plans for all eligible employees. The plans allow participants to make tax-sheltered contributions to a retirement account. 

Any regular employee and part-time adjuncts are eligible for participation in the District’s 403(b)/457 plan on the first of the month coinciding with or immediately following the date of hire. 

The amount of the contribution is determined by the employee, but must be an amount that does not exceed the employee’s statutory exclusion allowance under Section 403(b) or the limitations of Section 415 or 402(g) of the Internal Revenue Code, whichever is less. The tax-deferred contribution is made on a monthly basis coinciding with the pay date. The contribution becomes effective on the first day of the pay period following the completion of a Salary Reduction Agreement.

Employees who want to participate in a 403(b) or 457B plan (or both plans), change an existing contribution amount, or cancel their contribution must complete a salary reduction agreement (available below) and submit it directly to Alta Montclair. Alta Montclair is the District’s Third Party Administrator, which processes employees’ Salary Reduction Agreement(s).

Employees may view the Administrative Guideline for more information on setting up an retirement plan.

(TPI = Teacher's Pension & Insurance Services.)

Website and Customer Service Contact

Alta Montclair
Phone: +1-408-371-7661
Fax: +1-408-371-9327 or +1-408-371-1500
Email: tpa@altamontclair.com

Plan Documents Mailing Address:
2542 S. Bascom Avenue, Suite 100, Campbell, CA 95008
http://altamontclair.com/
https://altamontclair.org/

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