You must apply to receive Retirement System benefits. They are not paid automatically.Find out what to do if your employer doesn't offer a 401(k) retirement savings plan, including alternative investment options. Each tax year, you may be required to fill out Form 5500, depending on the type of plan you choose. This plan allows eligible employees to: Set aside money towards their retirement. Make Roth contributions that can grow tax-free. If your membership is optional and you do not wish to join the Retirement System, do not complete this application. Retirement planning is easier when you can see what your 401(k) could be worth in the future. Try Suffolk Credit Union's 401(k) Calculator to find out. These benefits are afforded you in addition to your annual salary and, with the exception of the Legal Service Fund, are made with non-taxable dollars.