RETIREMENT & BENEFIT SERVICES DIVISION MEMORANDUM

January 23, 1998

TO ALL CONSTITUENT UNITS OF HIGHER EDUCATION

The Alternate Retirement Program (ARP) is a state-administered, portable pension plan offered to eligible unclassified employees of the constituent units of higher education as an alternative to the State Employees Retirement System. ARP is underwritten by the Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) in accordance with the provisions of the State Employees Retirement Act.

TIAA-CREF, in cooperation with the Retirement & Benefit Services Division, endeavors to provide on-site, retirement counseling to interested ARP participants. During these counseling sessions, participating employees are afforded the opportunity to obtain detailed information regarding ARP's retirement plan provisions and its various investment options. Sessions are specifically designed to provide ARP participants with individualized retirement planning assistance.

The campuses which have taken advantage of the counseling services provided by TIAA-CREF advise the Division that, as a result of the important retirement plan information conveyed therein to participating employees, there has been a reduction in the number of ARP inquiries directed to personnel and payroll officers.

Accordingly, Martin Volpe, TIAA-CREF's ARP representative, will be contacting your office in the near future to provide additional information on ARP counseling sessions, as well as to schedule a convenient time for providing on-site services to participating employees. The Division encourages your assistance in arranging these counseling sessions.

Any questions you have regarding retirement counseling for ARP participants may be directed to James Schnell, Coordinator to the Division's Miscellaneous Systems Unit, at (860) 702-3508 or TIAA-CREF at 1-800-842-2011.

Very truly yours,

STATE EMPLOYEES RETIREMENT COMMISSION
NANCY WYMAN, SECRETARY EX OFFICIO

BY:

Steven Weinberger, Director
Retirement & Benefit Services Division

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