There are additional flexible benefit plans that help you save money by allowing you to pay for certain eligible expenses with pre-tax dollars. The tax savings help offset the impact of these expenses your income. Programs available are:
Benefits
Yes. If you waive the CSU medical and/or dental coverage because you have other non-CSU coverage, you can receive additional cash in your paycheck each month. You will be taxed on this additional income. Currently, you can receive $128 per month if you waive medical coverage and $12 per month if you waive dental coverage. You must be covered by an employer-sponsored, non-CSU alternative group policy.
You may purchase supplemental life insurance for yourself and eligible dependents. There is a guaranteed issue amount if you enroll within the first 60 days of your qualifying appointment.
The amount of life insurance that the CSU provides is based on your occupational field or collective bargaining agreement. Please see the CSU Employee Benefits Summary for details
You are vested with 5 years of CalPERS service and are eligible to retire at age 50 or 52 depending on your CalPERS plan. Vesting for health benefits in retirement may differ. Contact the Payroll Office to find out your specific vesting period.
The CSU contributes an amount that is determined each fiscal year based on the CalPERS valuation process.
If CalPERS eligible prior to 12/31/12, you are required to pay 5% of your gross salary in excess of $513. If CalPERS eligible after 12/31/12, you are required to pay 8% of your gross salary (as of July 1, 2022).
CalPERS is a defined benefit program unlike a 401(k), 457 or 403(b), defined contribution accounts. Therefore, you are unable to roll these funds into CalPERS. However, CSU does provide several investment options under the defined contribution program. These accounts or employee funded accounts only. There is no employer contribution to the defined contribution plans. Other rollover options may apply. Contact CalPERS directly for specific details.
If you or any of your covered dependents need a prescription before you receive your identification card, you will need to pay for the prescription in full at a participating pharmacy, save your receipt, and then file a claim for reimbursement with your insurance carrier once you receive your I. D. card.
Most Primary Care Physicians will honor a copy of your enrollment form that is mailed to your home address after the Benefits Office has processed your enrollment. If your provider will not see you until you receive your I. D. card, contact the Benefits Office. We will contact your provider to determine additional options.
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