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EnrollmentWho’s Eligible to Enroll in the Plan? The Plan is a voluntary plan available to all employees of the State, including individuals performing services by appointment or election for which compensation is paid. It is also available to employees of cities, counties, towns and other municipalities that have adopted the State Plan. Any eligible employee may elect to participate in the Plan and defer a portion of future compensation. To participate, you must agree to defer a minimum of $300 annually. There are no minimum age or service requirements. Based on the Plan and IRS requirements, the earliest date your agreement to defer can be effective is the first pay period of the month following the date you complete the agreement. You can specify a later date if you choose. Once you’ve enrolled, your contributions will start one or two pay periods into the month following the month you complete the enrollment process.
Important Information Variable investment options are considered long-term investments designed for retirement purposes. Money taken from the plan will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions and when redeemed, the principal may be worth more or less than the amount originally invested. You should consider the investment objectives, risks, charges and expenses of the investment options carefully before investing. Fund prospectuses and an information booklet containing this and other information can be obtained by contacting your local representative. Read the information carefully before investing.
How do I Enroll in the Plan? If you are a State employee, there are two ways you can enroll in the Plan which are described below. Employees of local governments that have adopted the State Plan enroll by meeting with a local representative (option 1 below). 1. Meet with your ING local representative. You will complete a Participation Agreement to specify your deferral amount and designate a beneficiary. You will also fill out an Enrollment Form to select your investments. 2. Enroll through the Internet. Online enrollment is an easy and entirely paperless process. Before enrolling online, be prepared to provide the following: While enrolling online, you will be offered electronic copies of the “Participant Information Booklet,” investment fact sheets, and other documents we are required by law to provide at enrollment. If you would prefer to review a hard copy of these materials, please call (800) 232-0024 (select option 5). Note: If you currently have an account under the Plan but are not contributing, you do not need to re-enroll in the Plan. To restart your contributions, call (800) 232-0024 (select option 5). To learn more about enrolling by Internet and to complete the enrollment process online, click here.
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