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You are here: TWU Human Resources>Benefits & Welfare >Optional
Retirement Program
Benefits
& Welfare
Optional Retirement Program (ORP)
An Optional Retirement
Program (ORP) is available for certain full-time professional and
administrative employees in lieu of the Teacher Retirement System (TRS).
Eligible employees are given 90 days from the date of employment to make
a one-time choice to relinquish membership in TRS and to become a
participant in the ORP. The decision to participate in TRS or ORP is
extremely important because this is a one time irrevocable election.
The ORP is a personal
retirement plan purchased by the member to which the state makes
contributions. Benefits are based on the accumulated contributions and
interest in the member's account. Vesting occurs after one year and one
day of participation.
Eligible employees who are
interested in the ORP can click on the following links:
·
TWU Authorized ORP Carriers
·
Comparison between TRS and
ORP from the Texas Coordinating Board
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ORP Forms
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