The PST Employees Retirement Program is a mandatory retirement savings program authorized to satisfy state and federal requirements for CSU employees who are:
Part-time employees who work less than half time;
Temporary and Permanent-Intermittent (PI) employees who work less than six months or 125 days if employed on a daily basis or less than 1,000 hours in a fiscal year (July 1 through June 30) if employed on an hourly basis; or
Half-time CSU employees who have less than one academic year of credited service
Employees who do not qualify for membership in CalPERS do not pay into Social Security and are placed into the Part-Time, Seasonal, Temporary Employees (PST) Retirement Program. The PST Program is:
Section 457 Deferred Compensation Plan and are subject to a mandatory 7.5% pre-tax contribution each month.
Administered by Nationwide, Savings Plus Program (SSP) Office.
Participants include non-represented employees and employees in all Bargaining Units.
PST assets are invested in a "Stable Asset Fund" which preserves capital and provides a stable rate of return. You can obtain more information about this fund by contacting Savings Plus Program at (855) 616-4776.
If your employment status (length of employment, or time base) changes and you become eligible for CalPERS, the PST deduction from your paycheck ceases. If you become eligible for CalPERS membership, you may wish to inquire about "Service Prior to Membership", which may allow you to have that prior service counted towards CalPERS Service credit. For more information on Service Prior to Membership, visit the CalPERS website, or contact Benefits services.
If you separate from employment, you become eligible to withdraw money from your account 90 days after your last contribution posts.