Alternative Retirement Plan Overview
The Alternative Retirement Plan (ARP) is a defined contribution plan with enrollment available to full-time employees with 75% or greater FTE. You have options at retirement for how and when to receive your account balance, including gains or losses. The benefit is determined by your account balance and the payment option(s) you choose when you apply to receive benefits. In the event of death, your beneficiary(ies) is eligible to receive your account balance. Should you separate from Ohio State, you may request a refund or rollover of your accumulated contributions.
Manage Plan Elections
The NetBenefits portal allows employees to manage their ARP account and change provider(s).
Trouble with the NetBenefits site? Contact the Fidelity Service Center at (800) 343-0860 or HR Connection at (614) 247-myHR (6947).
Vesting and Contributions
All employee and employer contributions to the plan are immediately 100% vested.
A percentage of the total employer contribution is applied to the mitigating rate which is required by Ohio law (Ohio Revised Code Section 3305.06). This requires a portion of the employer contribution be sent to the applicable state retirement system where it is permanently retained. To learn more, visit Mitigating Rate and Employer Contributions.
Source and Limit | Faculty | Staff |
---|---|---|
Employee contribution | 14% | 10% |
Employer contribution | 14%
Contribution Breakdown: |
14%
Contribution Breakdown: |
2025 Contribution Limit | $70,000 (employee and employer) | $70,000 (employee and employer) |
Plan Documents and Resources
Frequently Asked Questions
After electing ARP, how do I select investments and name my beneficiaries?
After your account is opened, select your investments and name your beneficiaries directly with your provider. See retirement provider contact information.
What are the contribution rates for the ARP?
Please see the contribution section above.
Can I change the amount I contribute to the ARP?
No. The contribution rates are based on state retirement system mandates. If you wish to contribute additional funds to retirement, Ohio State employees are eligible to participate in the 403(b) and 457(b) Supplemental Retirement Accounts.
What is the maximum amount I can contribute to the ARP?
Your retirement limit is determined by your retirement plan and/or date of hire. Review limit information in the contribution section above.
How do I contact ARP providers?
See our list of approved providers for contact information.
Can I borrow against my ARP account?
No, a loan feature is not available.
Can I rollover funds from another qualified plan to my ARP account?
Yes, you may rollover funds from an eligible retirement account to your ARP account. See Distributions, Transfers and Rollovers for details.
What can I do with my ARP account after I leave Ohio State employment?
You may rollover, transfer, or take a distribution from your account. You will be required at age 73 to take a Required Minimum Distribution (RMD) from your account. See Distributions, Transfers and Rollovers for details.
I’m enrolled in an ARP, what happens if my appointment decreases below 75% FTE?
Once enrolled in an ARP, the enrollment shall apply to your employment in all positions/appointments at Ohio State unless you terminate employment and do not return in any position at Ohio State prior to one year after your date of termination. If you return to employment after one year, you will then have the opportunity to make a new retirement selection.
As a student employee, can I elect the ARP?
No. Students are not eligible to elect the ARP. The plan is available to 75% or greater full-time employees.
What is the mitigating rate?
See Mitigating Rate and Employer Contributions for detailed information.
Are there any impacts to my retirement plan if I previously contributed to Social Security?
Employees of Ohio public colleges and universities do not participate in the federal Social Security system, other than contributions to Medicare. If you are eligible for a Social Security benefit from other employment in addition to your ARP benefit, there may be a reduction in your Social Security benefit. Learn more about the impacts to your Social Security benefit.
What is the Required Minimum Distribution (RMD)?
The RMD is a portion of your account, determined by the account value and IRS life expectancy factors, that must be withdrawn from your account beginning at age 73. It ensures that account holders begin taxable distributions of a minimum percentage.
Are RMDs required from Roth balances?
With the passage of SECURE 2.0 and effective January 1, 2024, RMDs are no longer required from Roth account balances within the 403(b) and 457(b) plans.
When does the RMD need to occur?
The IRS requires the first RMD be taken by April 1 of the year following the calendar year in which you reach age 73. The second RMD must be taken by December 31 and each year thereafter.
What plans have an RMD requirement?
The Alternative Retirement Plan (ARP), 457(b), and Retirement Continuation Plan (RCP), require an RMD is taken at age 73 regardless of employment status. An RMD from the 403(b) plan is not required while actively employed.
Who is responsible for calculating the RMD?
Your provider is responsible for calculating your RMD amount. Contact your provider directly to begin your RMD and with any questions related to the RMD calculation and/or distribution.
How can I know what plans will require an RMD?
Look at the section for Distributions, Transfers and Rollovers. Look at the applicable accordion drop-down regarding employment status and find the section of the chart for RMD.
Key Plan Information
Plan Fees
Understand the fees that you are paying.
Investments
Learn about your investment options and how to manage them.
Distributions
Understand when you can request a withdrawal, how to apply for one and at what age you are required to take one.
Providers
There are four approved providers within this plan.
Legacy Accounts
Consider your account options and understand the fees you may be paying for balances held in accounts prior to January 1, 2021.