Retirement Plans

Mandatory Retirement Enrollment

State Teachers’ Retirement System Defined Benefits Plan (Faculty)
800.228.5453
www.calstrs.com
Employee Contribution Rate: 10% Classsic Members; 10.25% PEPRA Members

State Teachers’ Retirement System Cash Balance Plan (Associate Faculty)
800.228.5453
www.calstrs.com
Employee Contribution Rate: 4% Classic and PEPRA Members

Public Employees Retirement System (Classified & CalPERS members serving in temp staff assignments)
888.225.7377
www.calpers.ca.gov
Employee Contribution Rate: 7% Classic & PEPRA Members
CalPERS Annual Compensation Limit Notice

PARS (temporary & seasonal, part-time classified employees)
P.O. Box 12919
Newport Beach, CA 92658
800.540.6369
www.pars.org/agency-search/ (Enter "MiraCosta Community College District")
Employee Contribution Rate: 3.75%

Voluntary Retirement Savings

Public employees have the option to set additional money aside for retirement on a pre-tax basis by electing a 403b, 457 and/or Roth 403b tax shelter. MiraCosta College is a member of the Fringe Benefits Consortium Deferred Compensation Program (FBC).

View approved list of investment companies (vendors) (CalSTRS maintains the list of approved vendors)

Fringe Benefits Consortium (FBC) / Empower

The FBC/Empower offers retirement investment conseling and can explain the various investment options available. To find out more about the services the FBC offers: www.fbc-retire.com/about-the-program .

SchoolsFirst

SchoolsFirst is the third party administrator of the deferred compensation program responsible for receiving employee pre-tax contributons and transferring the funds to the various investment companies based on employee elections.

How to Enroll

Select an investment company from the approved list.
Contact the investment company of your choice to set-up an account.
Log-in to your Workday homepage to enroll AFTER your account has been established.
Select the "My Benefits" icon from your Workday homepage to enroll.