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Optional Retirement Plan

For employees in positions requiring a minimum of a Bachelor's Degree you may choose the Optional Retirement Plan.
 

Your contribution to the ORP is 8.185% of your gross pay and the University's contribution will be 8.74% of your gross pay. This money (both your contribution and the MSU contribution) will be forwarded to the annuity company in which you choose to participate. Contribution rates are governed by state statute and are, therefore, subject to change each fiscal year.
 

ORP Features:

  • You are immediately vested, which means upon termination of employment, you retain your 8.185% contribution and the 8.74% university contribution.
  • Your contribution is exempt from Federal and State taxes. They are, however, subject to Social Security Tax, Morehead City Tax and Rowan County Tax.
  • Your investment options are greater and you determine how to allocate your investment funds. ORPs do have management and administrative fees that you will be required to pay and there are no survivor, death, or LTD benefits and no medical insurance upon retirement. 


To participate in an Optional Retirement Plan (ORP) please contact the provider of your choosing from the list below:


Providers

TIAA
Five Concourse Parkway Suite 2700
Atlanta GA 30328-6104
1-800-732-8353
Contact: Chad Seabaugh
 

VALIC
2919 Allen Parkway
Houston TX 77019
1-800-892-5558 (Ext. 89211)
Contact: Mark Spinosa


VOYA 
10100 Innovation Drive
Suite 120
Miamisburg, OH 45342
1-800-451-4702 (Ext. 4025472)
Contact: Derek Stiles


Fidelity
100 Magellan Way KW1A
Covington, KY 41015
1-859-240-0939
Contact: Mike Fischer