Retirement Allowance Plan (RAP)

The Retirement Allowance Plan (RAP) provides eligible employees with a retirement benefit based on their years of service with the University. You are eligible if you are not covered by the Tax-Deferred Retirement Plan and you work at least 1000 hours per year.

Your benefit amount under the RAP is determined by a formula based on a percentage of your salary for each year that you participate in the plan. The formula used to calculate your annual RAP benefit is:

Your Final Average Pay x years of service in the RAP x 1.25% (Final Average Pay is the average of your highest 5 years of earnings over your last 10 years of participation in the RAP.)

The amount calculated by this formula is a guaranteed benefit amount which is payable to you for life. You become fully vested in your RAP benefits after completing 1000 hours of service per year for 5 years. Benefits are generally available only upon retirement. Full, unreduced benefits are available at age 65; reduced benefits are available beginning at age 55.

You do not need to sign up for the RAP or contribute anything towards it. The University makes contributions on your behalf to a pension fund, to be used when you reach retirement. When you reach retirement, you will receive your fixed annual benefit amount based on the RAP formula shown above. Contact the Benefits Office for more detailed information about receiving retirement benefits under the RAP.

Download the RAP Summary Plan Description (Adobe Acrobat PDF) for more information about the RAP.

Please note that you may supplement this retirement plan by making tax-deferred contributions through the Supplemental Retirement Annuity (SRA).