If you begin employment in an ORP-eligible position* on or after January 1, 1993, you automatically will be enrolled in ORP at the start of your employment. However, if you wish to remain in ORP, you have 90 days, beginning from your employment start date, in which you must do the following:
- Enroll with an ORP provider
- Complete and sign the Ballot/Enrollment Form (ORP-ENROLL) electing membership in ORP, and forward to your personnel office – to obtain a copy of this form, click here or contact your personnel office.
If you fail to do this within 90 days of your employment start date, you will default into FRS.
To select Voya for your ORP, please call 1-800-584-6001 and schedule an appointment with your local representative.
Your representative will guide you through the enrollment process, as well as help you:
- Develop a plan to help work towards your investment and retirement objectives
- Select the investment options that will help you pursue your objectives
- Designate a beneficiary for your plan benefits
Note: The retirement plan choice you make may be irrevocable. If you elect to remain in ORP or you elect FRS, you must remain in that plan as long as you remain employed with the same institution and continue to meet the eligibility requirement.
*Eligible positions include persons who are employed or appointed for no less than one academic year in one of the following: General Faculty; Administrative and Professional; Chancellor of the State University System; President of the University; member of the SUS Executive Service.
Effective 7/1/12, benefits including employee contributions, are not payable under this plan for employee hardships, unforeseeable emergencies, loans, medical expenses, educational expenses, purchase of a principal residence, payments necessary to prevent eviction or foreclosure on an employee’s principal residence or any other reason except a requested distribution for retirement, a mandatory de minimis distribution authorized by the administrator, or a required minimum distribution provided pursuant to the Internal Revenue Code.
Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners LLC (member SIPC). All companies are members of the Voya™ family of companies. Securities may also be distributed through other broker-dealers with which Voya has selling agreements. Insurance obligations are the responsibility of each individual company. Product and services may not be available in all states.