The Statewide Hybrid Plan Tier offers a combination of a Defined Benefit Component and a Money Purchase Component. Active members of the Plan on the effective date of transfer may elect to participate in both the Defined Benefit AND Money Purchase Component of the Hybrid Plan Tier, or the Money Purchase Component ONLY of the Hybrid Plan Tier.
An employer may also elect to offer their members a third option, the Statewide Defined Benefit Plan Tier.
For more information click on the links below to view and or download the following documents:
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For specific information about retirement benefits click on the links below:
- Statewide Hybrid Plan - Defined Benefit Component Retirement Benefit Percentages Chart
Under the Statewide Hybrid Plan - Defined Benefit Component, there are four types of retirement: normal retirement, deferred retirement, early retirement and vested retirement. Benefits under each four retirement benefits mentioned above are payable directly to you. Additionally, benefit options that provide for a continued survivor benefit to a beneficiary are available under each retirement type. These benefit options are discussed in the following document.
- Statewide Hybrid Plan - Defined Benefit Component Benefit Option Charts
As a retired member, you will have a choice of several benefit options for the payment of your pension. These charts will help you select the option best suited for your situation.
In addition we have provided the following documents with the actual Plan Document language, an Executive Summary, and the Rules & Regulations associated with the Statewide Hybrid Plan.
Click the following links to view and download a copy of the:
- Statewide Hybrid Plan Document
- Statewide Hybrid Plan Executive Summary
- Statewide Hybrid Plan Rules & Regulations
Questions?
General Benefit Questions: generalbenefits@fppaco.org
General Retiree Questions: retireepayroll@fppaco.org