Welcome to your DCP plan. Click below to view the features and highlights of your employer’s retirement plan.
The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.
All Academic Faculty, Administrative Professionals, Post Doctoral Fellows, Veterinary Interns and Clinical Psychology Interns appointed on or after April 1, 1993, are required as a condition of employment under Colorado law to participate in either the University's Defined Contribution plan (DCP) for retirement or, in very limited cases, in the Public Employees' Retirement Plan (PERA) of Colorado, a defined benefit plan.
You are required to contribute 8% of your Covered Monthly Salary on a tax-deferred basis to the Defined Contribution Plan.
The University will contribute an amount equal to 12% of your covered monthly salary to the DCP accounts of Regular and Special appointees of half-time or greater from date of appointment, and Temporary Academic Faculty and Administrative Professionals, Post Doctoral Fellows, Veterinary Interns, and Clinical Psychology Interns of half-time or greater appointment after one year of continuous service at that level.
To complete one year of service, a 9-month employee must complete two consecutive semesters of continuous 1/2 time or greater employment (excluding summer term) and a 12-month employee must complete 12 months of 1/2 time or greater employment. An interruption in continuous appointment requires the eligible employee to complete one year of service again before CSU will provide the employer match to the DCP.
You are always 100% vested in your employee contributions and employer contributions.
Termination prior to age 55
If you leave CSU prior to "normal" retirement age of 55 for any reason other than death or disability:
Termination at or after age 55
When you leave CSU at or after age 55, you are entitled to your entire DCP account balance. Depending on the DCP investment company and the type of investment you have selected, you may be able to take your account balance as a lump sum cash payment, in installment payments, or convert it to an annuity which provides monthly payments for life. You can also leave it with the investment company for a distribution at a later date subject to certain limitations established under Federal Tax Law; or you can roll your account balance into another IRS-eligible, tax qualified plan. Taxes are payable upon withdrawal and a 10% penalty may apply to withdrawals prior to age 59½.
Early withdrawal penalty does not apply in certain circumstances such as:
You may take advantage of a tax-free loan from your AIG Retirement Services account. This provision gives you access to cash without permanently reducing the value of your accounts. It is especially attractive since it's not subject to federal withdrawal restrictions imposed on plan distributions prior to age 59½. Your financial professional can provide information regarding maximum loan amounts and loan repayment terms. Keep in mind, however, defaulted loan amounts will be taxed as ordinary income and tax penalties may apply.
The following mutual funds are available in your retirement plan.
For those participants still invested in annuity funds
To view or print a prospectus, access “Prospectuses and Other Important Materials”. The prospectus contains the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing. Please read the prospectus carefully before investing or sending money. You can also request a copy by calling 1-800-428-2542.