Submitted by Matthew Wetmore on
We’re here to help! Enrolling in the plan is simple, but investing for your life goals requires you to be informed. To help guide you through the enrollment process, please contact a local representative.
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.
- If you wish to remain in ORP, you have 90 days, beginning from your employment start date, in which you must enroll with an ORP provider. If you fail to do this within 90 days of your employment start date, you will default into FRS.
- 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.
- 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.
There are two ways you can select Voya for your ORP:
1. Meet with your local representative.
Call 1-800-584-6001 and schedule an appointment to meet/speak with a local representative to enroll in the plan. 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
2. Online enrollment.
Online enrollment is a quick and easy process. To get started, select the “Enroll Now” button on this page. Before enrolling online, be prepared to provide the name of each person you wish to designate as your beneficiary. You may submit up to 10 beneficiaries online. If you have more than 10 beneficiaries, we suggest that you schedule an appointment to meet with a local representative for additional assistance.
While enrolling online, you will be offered electronic copies of a participant disclosure booklet, investment fact sheets, and other documents we are required to provide at enrollment. Included is a “Payroll Authorization” link to the State University System Optional Retirement Program (SUSORP) Retirement Plan Enrollment form. You must complete and return the form to your employer. If you would prefer to review a hard copy of these enrollment materials, you can request them by meeting with a local representative.
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.
Not FDIC/NCUA/NCUSIF Insured I Not a Deposit of a Bank/Credit Union I May Lose Value I Not Bank/Credit Union Guaranteed I Not Insured by Any Federal Government Agency
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). Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. 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. Products and services may not be available in all states. CN2055477_0224
Ready to Enroll? Get started today!