As of July 1, 2014, all newly hired eligible employees are automatically enrolled into the Hybrid Pension Plan. The 401k component of the plan includes an auto-enrolled 2% contribution from you. You can change the amount of this percentage by contacting RetireReady Tennessee, by calling (800) 922-7772. Please note, by continuing to contribute, the state will also contribute a dollar-for-dollar match contribution up to $100 per month. For those enrolled in the Hybrid Pension Plan, 5% of your salary is contributed by the state to your plan regardless of whether or not you contribute to 401k.
For more detailed information on the Hybrid Pension Plan, please visit: