Full-time employees working for CTC within Texas and the Continental and Navy campuses are eligible for employer-paid health insurance or additional monetary compensation if this coverage is waived. Employees can select from one of the available Health Select of Texas plans. Optional coverage consists of dependent health coverage, two dental plans, term life, AD&D, short- and long-term disability coverage and dependent life.

• TRS: Full-time employees contribute to the state retirement administered by the Teachers Retirement System of Texas (TRS). Visit www.trs.texas.gov/for more information on Texas State retirement.
• ORP: As an alternative to membership in the TRS, the college offers faculty, librarians, and certain administrators the Optional Retirement Program (ORP), a (403(b) individualized retirement annuity plan.

Central Texas College maintains two private, ERISA-qualified 401(a) defined contribution pension plans for its employees. The Employees’ Pension Plan and Trust (QPP) is for eligible full-time employees, and the Employees’ Supplemental Plan and Trust (SPP) is for eligible part-time employees. Both plans are separate from any state plans you may be eligible for.

• Eligible part-time employees start to participate in SPP on their date of hire.
• Eligible full-time employees start to participate in QPP after they have completed one year of employment and reached the next available QPP Entry Date. There are two QPP Entry Dates every year: March 1 and September 1.

• SPP participants contribute a mandatory 3.75% of their wages (after-tax) to their account. CTC will match 100% of employee contributions (pre-tax).
• Eligible employees contribute a mandatory 6% of their compensation (after-tax) to their account. CTC will contribute 7% of each eligible employee’s compensation to the Plan for each Plan Year. Each eligible employee can voluntarily contribute up to 4% of their wages (after-tax) to their account.

• Your Mandatory Employee (after-tax) Contributions, as well as, the Employer Matching Contributions into the plan are non-forfeitable and fully vested immediately.
• Employee Voluntary and Mandatory (after-tax) Contributions into the Plan are nonforfeitable and fully vested immediately. The Employer Contributions become non-forfeitable and fully vested based on a “6-year graded” schedule as described below.

When employees begin to contribute to SPP or QPP, their initial contributions are automatically invested in the T. Rowe Price Retirement Fund based on their date of birth. After initial contributions, plan members can choose their investments from a diversified portfolio through TIAA.