Pensions and Supplemental Savings PlansAn important part of your retirement planning is saving to have enough income after you stop working. This page has information about two kinds of savings tools offered through OUSD - Pension plans and Supplemental Annuity accounts.Read on to learn more about your Retirement savings opportunities through OUSD!PLEASE NOTE: OUSD Benefits staff cannot advise you on setting up or managing any savings plans! OUSD is not a financial advisor and will not act in that role for employees. Management of your savings is very personal and our providers and these public pension plans all have expert advice available.Pension PlansPENSIONS are savings plans employees pay into through their work which will then be there for them after work ends.All OUSD employees are enrolled in one of these pension plans:
- CalPERS, the California Public Employee Retirement System (for Classified Employees),
- CalSTRS, the California State Teacher Retirement System (for Certificated Employees) or
- PARS, the Public Alternative Retirement System for employees who are hourly or work less than .25 FTE
These are public employee retirement systems with millions of members. They are govered by elected boards and their purpose is to maintain a growing and solvent fund through investment and contributions which will fund members' retirements.
Additionally, classified employees are Social Security contributors. Certificated employees are not Social Security contributors while they are employed as certificated staff, but may have Social Security earnings contributions from prior and subsequent positions.
Contact information and websites for these plans are shown below - we encourage you to learn more about your retirement savings options!
(PLEASE NOTE: OUSD Benefits staff cannot advise you on your retirement plan or answer any questions about the state pension funds - your plan has experts available to advise you).
(optional additional savings opportunities)
403b and 457 supplemental annuities allow you to set aside some of your income each month to go into tax-deferred retirement accounts.
For information about setting up these plans, please visit the CALPERS (classified) or CALSTRS (certificated) website to identify options and plans from which to select.
PLEASE NOTE: OUSD Benefits staff cannot advise you on setting up or managing these savings plans. These plans must be set up by you working directly with a preferred provider - you can find plan descriptions, providers and contact information on your pension plan website.
- All OUSD Supplemental Annuity information is handled by a Third Party Administrator (TPA):
TPA for Classified Employees
BeneSys Administrators (effective 09/01/2016)
7180 Koll Center Parkway, Suite 200
Pleasanton, CA 94566
(925) 398-7045 Main
(877) 494-0522 Toll Free
(925) 462-0108 Fax
Hours of Operations: Monday - Friday, 8:00am to 4:30pm
TPA for Certificated Employees
4160 Dublin Blvd., Suite 400
Dublin, CA 94568
Phone: 866-376-2307 Fax: 925-833-7301