PTS Deferred Compensation Retirement Plan
The PTS Deferred Compensation Retirement Plan was established in 1996 by Chapter 88F, Hawai`i Revised Statutes as an alternative retirement program for part-time, temporary, and seasonal/casual (PTS) employees. Under this Plan, PTS employees will be automatically enrolled and 7.5% of their gross pay each pay period will be deducted, in lieu of Social Security taxes, and placed in an interest-bearing PTS account. Unlike the money taken for Social Security, the money in the individual’s PTS account – contributions plus earned interest – is returned to the employee when the employee leaves State employment.
See the PTS Deferred Compensation Retirement Plan Employee Information Booklet for more information. If after reading the booklet you have further questions regarding the PTS Deferred Compensation Retirement Plan, please call the local Service Provider/Administrator, Comprehensive Financial Planning / Life Insurance Company of the Southwest at 596-7006 (neighbor islands may call toll free at 1-800-600-7167).
Please insert this PTS Deferred Compensation Retirement Plan Welcome Letter into the PTS Plan Employee Information Booklet.
Online PTS account access is now provided to PTS Plan participants! If you are a PTS Plan participant, click on the following link to access your account and obtain PTS Plan related forms: