Optional Retirement Program (ORP)
You are eligible to retire from the Optional Retirement Plan (ORP) after separation from the University, and after attaining ten years of service at age 55 or 60 (depending on hire date).
To begin the retirement process from ORP, you should contact your retirement plan vendor (Fidelity, TIAA-CREF or VALIC) to initiate the distribution paperwork. You should plan to begin the retirement process about 120 days ahead of your retirement date. If you wish to enroll in retiree health insurance, you will be required to draw monthly income from your ORP account to cover the cost of your insurance premiums. Your retirement plan vendor will work with the Department of Higher Education to calculate the minimum monthly distribution in order to cover your insurance premium deductions.