Exempt Retirement - 7 - Optional Retirement Program 1

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Exempt Retirement - 7 - Optional Retirement Program 1

The Optional Retirement Program is a defined contribution plan, which provides a benefit based on your account balance at the time of retirement.  The ORP is a 403(b) Plan.  Your ORP account is made up of contributions from the University and any accumulated investment earnings.  The growth of your account balance will determine the benefit received upon retirement.  
 
Each year, the University contributes a certain percentage of your salary to your ORP account, as determined by law.  The current contribution rate is 7.25% of your annual salary, which is processed over 20 pay cycles from approximately August to May.
 
updated 7/23/2016
 EDIT 

   New Employee Orientation

    - Exempt Staff