ORP Open Enrollment 2019
Dear Colleagues:
This year’s ORP open enrollment takes place from Feb. 1 through Feb. 28, 2019. During this period, you may change your account provider for future contributions to the VCU ORP. Changes made during this time become effective on March 1, 2019 and will be reflected on your pay stub documentation in eServices/VCU Self Service beginning March 15, 2019.
Your options:
- Take no action and your current account provider will stay the same for 2019. Your next opportunity to change your ORP account provider will be during next year’s annual open enrollment. You may change investment elections within your provider’s approved investment lineup at any time.
- Change your participation between the approved ORP account providers: Fidelity Investments and TIAA. Please note that changing your ORP account provider during open enrollment affects future contributions only. It will not automatically transfer your existing VCU ORP balance to the new provider. To transfer your existing ORP balance, you will need to contact that provider for the appropriate paperwork to initiate an in-plan exchange for existing funds. You can find account provider information on the Optional Retirement Plan (ORP) page.
Making the change
To change your ORP account provider, complete and return to VCU Human Resources the ORPAccount Provider Change Form. Please note that if you do not already have a VCU ORP account with the provider you are selecting, you must set up an account with that provider. Visit the Optional Retirement Plan (ORP) page for instructions on how to set up an account.
ORP information
For more information about the ORP, a current list of approved funds, links to fund performance, and instructions to change your account provider during open enrollment, visit the Optional Retirement Plan (ORP) page. Representatives from TIAA and Fidelity Investments are on campus regularly for individual counseling sessions. Questions? Please contact benefits@vcu.edu or call (804) 827-1723.
All my best,
Cathleen C. Burke
Assistant Vice President for Human Resources
Virginia Commonwealth University