Part-Time, Seasonal, And Temporary (PST)
The PST Employees Retirement Program is a mandatory retirement savings program authorized by federal law for employees who are not covered by a retirement system or Social Security. Savings Plus, part of the California Department of Human Resources, administers the PST Program for California State employees and California State University employees.
This requirement applies to California State University (CSU) employees who are presently excluded from membership in the California Public Employees’ Retirement System (CalPERS).
Eligible non-CalPERS employees are placed into the Part-Time/Seasonal/Temporary Employees Retirement (PST) Program
If your employment status (length of employment or time base) changes and you become eligible for CalPERS membership, or if you become eligible for benefits under another state retirement system, the 7.5% PST deduction from your paycheck will stop and your retirement deduction will start.
Once the Saving Plus Program verifies your CalPERS enrollment, Savings Plus will establish a 457(b) Plan account for you and transfer 100% of your PST assets to the 457(b) account.
The transferred account is deposited in the Target Date Fund best aligned with your date of birth. However, you may exchange your assets from the Target Date Fund to another investment of your choice within the Savings Plus investment menu. You can manage your 457(b) Plan account with greater flexibility and begin your contributions online at savingsplusnow.com or by calling (855) 616-4776.
You will receive quarterly statements for your 457(b) Plan account and Savings Plus will deduct $1.50 per month for administrative expenses. If you also start contributing to a 401(k) account, Savings Plus will deduct $1.50 per month from that account.
Service Prior to Membership: You may be able to use your 457(b) Plan account to purchase permissible service credit with CalPERS or other public pension plans. Discuss your permitted service credit options with Human Resources 559.278.2032.