ORP Retirement Process

Retirement Eligibility

  • Optional Retirement Plan (ORP)
    • Normal Retirement Age is age 55, effective January 1, 2018.
    • Normal Retirement Age allows you to take distributions from your retirement account without being subject to the IRS early withdrawal penalties. If you retire and/or leave University employment prior to age 55, you may leave your funds in your ORP account, rollover your account balance to a qualifying retirement account (not subject to early withdrawal penalties), or take a distribution (may be subject to early withdrawal penalties).

Disability Retirement

If you become totally disabled due to an injury or illness and are no longer able to work, you may be eligible to take distributions from your ORP retirement account.

For more information, contact the Oregon Public Universities Retirement Plans, the Plan Administrator for the Optional Retirement Plan (ORP).

Accrued Leave When Retiring from OSU

If you have any questions concerning your unused leave payout when retiring from OSU, please contact the HR Support Services team at [email protected].

Classified Employees

Staff (Classified) Leave Accrual & Use of Leave Time Webpage: https://hr.oregonstate.edu/benefits/leaves/classified-leave-accrual-use…

  • Sick Leave
    • Unused balance Is not paid out
  • Vacation
    • Unused balance is paid out up to the accrual limit of 250 hours.
  • Compensatory Time (Comp Time)
    • Balance is paid out.
  • Exchange Time
    • Balance is not paid out.
  • Personal Leave
    • Unused balance is not paid out.
    • IMPORTANT: Personal Leave is awarded in July each year. If you retire/terminate employment prior to working 1,040 hours in the fiscal year (July — June), the value of any used Personal Leave may be recovered when you retire/terminate employment.

Unclassified Employees

Faculty (Unclassified) Leave Accrual & Use of Leave Time Webpage: https://hr.oregonstate.edu/benefits/leaves/unclassified-leave-accrual-u…

  • Sick Leave
    • Unused balance is not paid out.
  • Vacation
    • Unused balance is paid out up to 180 hours (accrual limit is 260 hours).
  • Compensatory Time (Comp Time)
    • Unused balance is paid out.

ORP & Retirement

Optional Retirement Plan (ORP) vested benefits are available for distribution or rollover when an employee leaves Oregon Public Universities employment. An employee who has reached the normal retirement age of the plan (age 55) or who is participating in a formal retirement incentive program—such as (but not limited to) tenure relinquishment at separation—becomes a retired participant by meeting certain criteria.

A retired participant's eligibility criteria, distributions and rehire provisions are outlined in the "How Retirement Affects your ORP Account" section (page 15) of the Decision Making Guide.

Tenure Relinquishment Agreements - Information for ORP Retirees under a Tenure Relinquishment Agreement

You will work directly with your ORP Plan Vendor (provider) to take distributions or to rollover your account:

Required Minimum Distribution

Employees enrolled in the ORP are subject to Required Minimum Distributions (RMDs) per Federal law. Please review the ORP Required Minimum Distribution Q&A for information on Required Minimum Distributions and how these rules affect you as a participant in the ORP.

Voluntary Retirement Savings Programs

You will work directly with your Voluntary Retirement Savings Program plan vendor (provider) to rollover or take distributions from your retirement account(s).

Tax Deferred Investment (TDI) 403(b) Plan

IMPORTANT: Information on Required Minimum Distributions from the TDI 403(b) Plan can be found on page 14 of the TDI Guide.

Oregon Savings Growth 457(b) Plan (OSGP)

ORP Newsletter

Oregon Public Universities Retirement Plans (OPURP)