I was hired July 2013, I will now be vested in 5 years instead of 10. My question is will I still have to contribute 4 percent to my retirement and will I still be 90 and out. thank you.
Yes, you will still have to contribute 4% of pay to your future retirement benefit. It is important to note that the 5-year vesting for MSEP 2011 members will go into effect on 1/1/2018. MSEP 2011 members must be actively employed on or after 1/1/2018 to be covered by this change.
Members of MSEP 2011 will become eligible for normal retirement when they are age 67 and have 5 years of service OR under the �Rule of 90� which is when they are at least age 55 and their age and service equal 90 when they terminate/leave state employment.
For more information on vesting, see The Change from 10 to 5-Year Vesting for MSEP 2011 Members.