State of California

  M E M O R A N D U M

  REFERENCE CODE:
  99-039

  DATE:
  September 22, 1999

  TO:
  Personnel Management Liaisons

  FROM:
  Department of Personnel Administration
  Savings Plus Program

  SUBJECT:
  Part-Time, Seasonal, Temporary Retirement Plan Changes

  CONTACT:
  Janet Macias, Customer Service Supervisor
  (916) 445-9803
  FAX: (916) 327-1885
  OFFICE VISION: 
  INTERNET: JanetMacias@dpa.ca.gov


  Part-time, seasonal, and temporary employees who are not 
  eligible for membership in the California Public Employees' 
  Retirement System (CalPERS) and are not covered by Social 
  Security, are automatically enrolled in the PST Retirement 
  Plan.
  
  When PST employees separate from employment, they can (1) 
  request a refund of their contributions or (2) transfer 
  their funds to another employer-sponsored 457 Deferred 
  Compensation Plan.
  
  When PST employees become CalPERS eligible, contributions 
  stop and retirement contributions begin. Employees can (1) 
  request a refund of their contributions or (2) transfer 
  their PST funds to the Savings Plus Program's (SPP) 457 
  Deferred Compensation Plan.
  
  To receive a refund, the employee sends a completed Benefit 
  Payment Application, STD. 951, rev. 9/1999, directly to the 
  SPP. Personnel offices are no longer required to sign 
  certifying the separation. The SPP will verify eligibility 
  for refund prior to distribution. Refunds are issued 60 to 
  90 days after the SPP receives the request.
  
  The Benefit Payment Application is available from SPP or 
  quantity orders may be ordered from State Stores after 
  November 15, 1999. The application is packaged 50 sheets to 
  a pad and the order number is 7540-000-9510-8.
  
  
  To transfer funds, the employee sends a completed PST Plan 
  Transfer Request, DPA 661, rev. 7/1999, to SPP. Eligibility 
  for transfer will be verified prior to distribution. The 
  transfer will be issued 60-90 days after SPP receives the 
  request. SPP will make the form available upon request.
  
  SPP revised the PST Retirement Plan Brochure, STD. 950, 
  rev. 9/1999, to assist personnel transaction staff 
  providing information to newly hired PST employees. The 
  brochure provides an overview of the PST Retirement Plan 
  and employee's rights and responsibilities. It is suggested 
  that all newly hired PST employees be provided a copy of 
  the brochure. The brochure will be in State Stores after 
  January 1, 2000.
  
  Enclosed are  masters' for the STD. 950, STD. 951 and the 
  DPA 661, for your immediate use.
  
  Any questions regarding the changes to the PST Retirement 
  Plan may be directed to the SPP Customer Service 
  Representatives at (916) 322-5070, (800) 700-8466, or 
  CALNET 8-492-5070. 
  
  
  
  
  ____________________________________
  Kent Suemnicht, Administrator 
  Savings Plus Program
  
  Attachments
  
  
  
  
  
  Attachments will be distributed via mail.