Add'l Service Credit ORP Company Contacts ORP Forms Withdrawals FAQ's Enroll in ORP Online
Tennessee's state retirement system is a qualified retirement plan under Section 401(a) of the Internal Revenue Code. All full-time state employees are required to participate in the state's retirement system as a condition of employment. Certain part-time employees have the option of participating. Faculty and exempt employees of the University of Tennessee or the Tennessee Board of Regents may choose between membership in Group I of the Tennessee Consolidated Retirement System (TCRS) and membership in the system's Optional Retirement Program (ORP). (Refer to POLICY HR0375, RETIREMENT PLANS) Once an employee elects to participate in the ORP, that election is irrevocable except for a one time window to transfer upon attaining five years, but less than six years of service.
The ORP is a "defined contribution" retirement plan, which means that the amount of any future benefit will be determined by the member's account balance. Employer contributions are credited to each ORP member's account during service to a Tennessee higher education institution. The employer contributes 10% of gross salary covered by Social Security and 11% of salary in excess of the Social Security Wage Base.
Effective July 1, 1981, the retirement system became noncontributory for state employees, including employees of the University of Tennessee and the Tennessee Board of Regents. Employees may not make any type of contributions (salary reduction, voluntary, before-tax, after-tax, etc.) to the Tennessee Optional Retirement Program at any time. Higher education employees who wish to set aside supplemental retirement savings on a before-tax basis may make salary reduction contributions to a 403(b) plan or to the state's 401(k) plan or 457 plan.
RESOURCES:
Campus/Institute Contacts:
Chattanooga
Family Practice- Chatt.
Health Science Center
Knoxville Area
Martin
UTSI
UT Memorial Hospital
SEND FORMS TO:
Deferred Compensation (401k, 457, 403b) Forms:
Total Rewards/ Benefits & Retirement Office
600 Henley St, #115
Knoxville, TN 37996-4115
Insurance Forms:
Insurance & Retirement
P115 Andy Holt Tower
1331 Circle Park
Knoxville, TN 37996-0100
Retirement Forms:
Total Rewards/ Benefits & Retirement Office
600 Henley St, #115
Knoxville, TN 37996-4115
Other Links:
Deferred Compensation (State site)
Deferred Compensation (Great West site)
Optional Retirement Program (ORP State site)
Tennessee Consolidated Retirement System (TCRS State site)
Office of Personnel Management- OPM (CSRS & FERS)
