The Optional retirement Program (ORP) is available to full-time,
benefits-eligible faculty and select professional/administrative staff. You
have 90 days from your first day of employment in an ORP-eligible position to
make a one-time irrevocable election of ORP in lieu of TRS. The Overview
of TRS and ORP provides general information to help you choose the
retirement plan that best suits your situation. Employees are
enrolled in the Teacher Retirement System of Texas (TRS) program
until an election for ORP participation is made in writing. If a written ORP
election is not made within 90 days of the first day of eligibility, the
employee will remain in TRS the remainder of their employment in Texas higher
education.
When participating in ORP, employees:
- Choose from a
list of approved companies and their representatives.
- Are responsible for selecting a company to invest their retirement contributions.
- Contribute 6.65% of their gross salary monthly. The state contributes 6.6% of the employee's gross salary.
- Are vested after one year and one day of participation.
- Earn interest on contributions based on the stock market performance of their selected investment portfolio.
- Are required to have the minimum age and service requirement established under the TRS law to be considered a retiree.
For more information on ORP benefits, contact ESO's Benefits Team. For information on managing your ORP, review the
Retirement@Work Overview or log in to Retirement@Work.
