Important Notice Re: Part-Time, Temporary and Seasonal/Casual Employees (PTS) Retirement Plan
Chapter 88F of Hawaii Revised statutes authorizes the State to implement the PTS Deferred Compensation Retirement Plan for part-time, temporary, and seasonal and casual employees (Lecturers teaching less than seven (7) credits, Casual Hires, 89-Day Hires) who are not eligible to participate in the state's Employees' Retirement System. Contributions to the PTS Plan replace the contributions to Social Security.
Enrollment is mandatory unless you are part of the excluded groups, and all eligible employees shall be automatically enrolled. Despite being "automatic," however, enrollment forms need to be completed. Please return completed forms to the UH Hilo Human Resources Office for processing.
Among the excluded groups are student helpers, retirees and certain visa holders (F-1, J-1, M-1, Q-1), graduate assistants who are full-time students, and student nurses.
Each pay period, seven and five-tenths percent (7.5%) of your gross pay will be deducted from your paycheck in place of the six and two-tenths percent (6.2%) amount for Social Security. The funds will be placed in an interest-bearing PTS Plan account.
For more details, refer to the PTS Deferred Compensation Retirement Plan Employee Information Booklet.