Keyword Analysis & Research: savings plus pst

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Frequently Asked Questions

Does savsavings plus offer a PST program?

Savings Plus administers the PST Program in accordance with the Internal Revenue Code Section 457 Deferred Compensation Plan (DCP). Employees in the PST Program are not covered by Social Security and are excluded from a pension through the California Public Employees' Retirement System (CalPERS), based upon their length of employment or time base.

What is the PST program deduction for savings plus?

The PST Program withholds 7.5% of an employee's gross wages (pre-tax). PST Program contributions are in addition to Medicare taxes. Savings Plus invests PST Program deductions in the Savings Plus Short-Term Investment Fund – PST (STIF-PST), under the employee's name. This fund seeks to maximize total return consistent with capital preservation.

What is a savings plus account?

Internally, Savings Plus often refers to the 401 (k) and 457 (b) Plans as "main plan" accounts to distinguish them from the Part-Time, Seasonal, and Temporary (PST) Employee Retirement Program mandatory account. All permanent state employees, Rehired Annuitants, and active PST Program participants are eligible to contribute to a main plan account.

What does PST stand for in retirement?

About PST The Part-time, Seasonal, and Temporary (PST) Employees Retirement Program is a mandatory retirement savings program created by federal law for State employees and California State University employees who are not covered by a retirement system or Social Security.

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