Optional Retirement Program (ORP)

Employees who participate in the ORP may choose among two carriers: Teachers’ Insurance & Annuity Association of America (TIAA) or Fidelity Investments. The Optional Retirement Program is a 403(a) “defined contribution plan” in which the participant’s benefits are determined by the amount contributed and the investment earnings of the contributions. In addition to the employee’s mandatory 6% contribution, the University contributes 6.84% to the employee’s ORP account. If the employee leaves the University before he/she is vested (five years), then the employee may have to forfeit the University’s contributions to their ORP unless certain State requirements are met. Contact the Benefits Office for further details, or visit the Web sites for TIAA or Fidelity.