Participation in the Plan is open to:

• All eligible employees, non-student employees. 

The Plan does not allow participation by employees who are:

• McNamara-O'Hara Service Contract Act of 1965 wage determination employees compensated under applicable Department of Labor wage determinations.

Participation in the Plan is open to all eligible employees who have met the following requirements:

• Completed 1 year of service, as defined by the Plan.

• You have completed 1 year of service if, at the end of your first twelve consecutive months of employment, you have been credited with at least 1000 Hours of Service. If you have not been credited with 1000 Hours of Service by the end of your first twelve consecutive months of employment, you will have completed a Year of Service at the end of any following Plan Year during which you were credited with 1000 Hours of Service.

You may join the Plan the first day of the Plan Year or the first day of the seventh month of the Plan Year coinciding with or next following the date you satisfy the Plan's eligibility requirements.

• As an employee, you must make mandatory after-tax contributions equal to 6% of your eligible pay.

• Central Texas College will also make mandatory contributions equal to 7% of your compensation (pre-tax).

• In addition to your mandatory 6% contribution, you may elect to make additional after-tax contributions of up to 4% of your eligible pay.

• Your 6% (after-tax) contributions and Central Texas College's 7% (pre-tax) contributions are mandatory and cannot be stopped.

• If you elect to make additional after-tax contributions of up to 4% of your eligible pay, you may start or stop those contributions at anytime.

Vesting refers to your "ownership" of a benefit from the Plan. You are always 100% vested in your employee contributions, plus any earnings they generate. Employer contributions to the Plan, plus any earnings they generate, are vested as follows:

If you terminated employment on or before 8/31/02 for reasons other than death, Retirement on or after Normal Retirement Age, or for Total and Permanent Disability, you are vested as follows:

0 – 2 - 0%

3 - 20%

4 - 40%

5 - 60%

6 - 80%

7 or more - 100%

If you terminated employment on or after 9/1/02 for reasons other than death, Retirement on or after Normal Retirement Age, or for Total and Permanent Disability, you are vested as follows:

Less than 2 - 0%

2 - 20%

3 - 40%

4 - 60%

5 - 80%

6 or more - 100%

You decide how to invest your Plan account, selecting from investment choices provided under the Plan, as determined by Central Texas College District. Click here for a complete list of investment options and performance.

• You may change your investment choices anytime.

Money may be withdrawn from the Plan in these events:

• Severance from employment

• Retirement at the Plan's Normal Retirement Age of 65.

• Death

• Disability

Please note, income taxes are payable upon withdrawal and federal restrictions and a 10% tax penalty may apply to early withdrawals prior to age 59½. Be sure to talk with your tax advisor before withdrawing any money from your Plan account.

• You will receive a personalized account statement quarterly that shows your account balance as well as any contributions and earnings credited to your account during the reporting period.

• You will also be able to view and print the welcome letter, plan highlights, planning guide, fund fact sheets and forms by accessing ePrint from this Web site.

• In addition, you will have access to the following systems which are designed to give you current information about your Plan account:

   o VALIC's Voice Response telephone access at 1.800.448.2542

   o VALIC Online, an online account maintenance system. You may also access this system under the 'Account Access' tab within this Web site.

You will receive additional information on how to use the Voice Response system and Internet access.

• You have been automatically enrolled in your VALIC pension account. Your funds have been placed in a "default" investment allocation chosen by VALIC's investment consultants and the Central Texas College Employees' Pension Plan Trust Committee. You do not need to take any action, unless you want to change your investment allocation. If you do wish to change your investment allocation, contact your financial advisor at 254.526.1417 or by email at Pension.Plan@ctcd.edu.