What Changed for Employees Hired After July 1, 2024?
Just one thing changed — but it's the kind of thing that's easy to miss if nobody points it out. The active choice stayed the same. What happens if you don't choose flipped completely.
💬 GLP Retirement MinuteDefault: DC Plan
If you didn't actively choose within 75 days, you were automatically placed in the pure Defined Contribution plan — no pension component at all.
Default: Pension Plus 2
Now, doing nothing for 75 days lands you in the hybrid Pension Plus 2 plan instead — a pension component plus a smaller savings account.
The actual choice is identical to before: you still have 75 days from your first paycheck to actively elect Pension Plus 2 or the DC Plan, and that election is still irrevocable once made. The only thing that changed is what happens if you let the window pass without deciding.
A new hire letting the 75 days pass isn't necessarily wrong — Pension Plus 2 as a default isn't a bad outcome for most people. But given the choice is permanent, it's worth an active decision rather than a passive one. Run Step 1's tool to confirm exactly where you stand.
This wasn't a change to the plans themselves — Pension Plus 2 and the DC Plan work exactly like they did before. It was a change to what the state assumes you want if you don't say otherwise, shifting from "assume you want pure savings" to "assume you want some guaranteed pension income."