Optional Retirement Plan (ORP). For work performed on or after January 1, 0000, Xxxxxxx Xxxxxx University shall pay on behalf of ORP participants the statutorily required employee contribution under ORS 243.800(8). For employees participating in the ORP hired on or after July 1, 2014, the University will make all employer contributions to the ORP required under ORS 243.800(10)(a) and (b).
Optional Retirement Plan (ORP). For work performed on or after January 1, 2004, Western Oregon University shall pay on behalf of ORP participants the statutorily required employee contribution under ORS 243.800(8).
Optional Retirement Plan (ORP). The Optional Retirement Plan is a defined contribution plan established in accordance with the Official Code of Georgia Annotated, Section 47-21-7. Faculty and principal administrators hired on or after July 1, 1990, and exempt employees hired on or after July 1, 2008, have a one-time irrevocable decision to participate in the Optional Retirement Plan in lieu of the Teachers Retirement System of Georgia. This decision must be made within the 60 days following employment. If an election is not made within the 60 days of eligibility, all eligible employees will automatically be enrolled in the TRS plan for the remainder of their employment with the University System of Georgia. Employees whose status changes from a TRS to an ORP covered position are not eligible to participate in the ORP plan. Detailed information on the available ORP investment companies may be obtained by contacting the Department of Human Resources. Vesting: Vesting in the Optional Retirement Plan is full and immediate. Each participant is 100% vested in all plan contributions.
