The Alternate Pension Plan is a pension option available to eligible tenured and contract faculty and professional employees.
Ball State will make the following contributions into the pension plan based on the employee’s hire date as follows:
- If hired before September 30, 2010—the university contributes 12.27 percent of wages to the plan investment vendor you choose.
- If hired after September 30, 2010—the university contributes 5 percent for the first three years and 10.5 percent thereafter to the plan investment vendor you choose.
Employees are immediately vested at 100 percent for all contributions made to their account.
Within 60 calendar days of a qualifying assignment date, the employee must first choose an investment vendor and open an account, and then provide Payroll and Employee Benefits with the APP Election Form. The employee must complete all forms required by the university and the vendor selected by the employee to participate in the plan.
For additional plan information, refer to the Alternate Pension Plan Summary Plan Description (PDF).