As a status university employee, you pay into the State University Retirement System (SURS) instead of Social Security. This may affect your future social security benefits due to the Windfall Elimination Provision.
As a new employee, you have six months from your first day of employment to select your retirement savings plan:
This is a very important decision and once you select a plan, the selection is irrevocable. If you do not selected a plan within the first six months, you will default into the Tradition plan. Status employee contribute 8% of earning to SURS.
How to make your election:
As an employee, you have the opportunity to invest in voluntary tax-deferred retirement options. Your options include 403(b) and 457. For more information on additional retirement saving plans, please go to the "Retirement" drop down tab to "Voluntary Tax-Deferred Retirement".