Eligible participants in the State University System's Optional Retirement Plan (ORP) will have an opportunity to opt out of the ORP and into the Florida Pension Plan or the Florida Investment Plan. JHMHSC-mandated faculty are not eligible for this opt-out.
Participants who wish to change to the Pension Plan will receive service credit for the total number of years in the ORP. This service credit will be purchased with funds in participants' ORP accounts; any remaining cost will be paid by participants from personal funds.
Participants wishing to change to the Investment Plan will have employer contributions from the date of election forward placed in the Investment Plan, and all assets previously contributed to the ORP plan will remain in the ORP.
Information from the Division of Retirement will be mailed to all eligible participants during the last week of November.
Questions? Contact University Benefits and Retirement at 392-2477 (SC 622-2477) or firstname.lastname@example.org.