Open Enrollment | ORPHE

Open Enrollment | ORPHE
Open Enrollment
Participants in the Optional Retirement Plan for Higher Education (ORPHE) have an opportunity to change providers each year. Open Enrollment occurs annually from October 1 to October 31, effective the first payroll in the following calendar year.
Participants have a choice of two providers: DCP (record kept by Voya Financial) and TIAA. See
Provider Options
for information on the plan investments available through each provider.
Frequently Asked Questions
What are the differences between investment providers?
You can use the
ORPHE provider options chart
to compare each provider’s services and plan features.
How can I learn more about investment performance and fees?
For more information, refer to
Performance & Fees
May I transfer my existing funds from one provider to another?
Yes. This is called a plan-to-plan transfer. Plan-to-plan transfers are permitted, subject to any fund-specific trading restrictions or short-term trading redemption fees. Check with your provider regarding any restrictions or fees.
Is my ORPHE account portable if I move to an employer covered under a different plan?
Yes. As required by Internal Revenue Code regulations, assets are always portable once a participant separates employment and becomes eligible for a distribution.
Assets may be rolled over to a new employer's plan or to an Individual Retirement Account (IRA).
If a new employer offers the same provider, the plan is administered under the new employer's contract with the provider. The same investment options may not be available.
Publications
Forms
Handbook for Participants in ORPHE Plan 1 and ORPHE Plan 2
Learn more about your plan, benefits and investments in the Optional Retirement Plan for Higher Education.
Choose the Plan and Provider That’s Right for You
As a new college or university president, chancellor or faculty member engaged in teaching, administration or research, you have a choice in retirement planning.
State Health Benefits Program Enrollment Form for Retirees, Survivors and LTD Participants
VRS Group Life Designation of Beneficiary (VRS-2)
VRS members and retirees can update beneficiaries online through their secure
myVRS account
VRS Group Life Designation of Beneficiary - Continuation (VRS-2A)
VRS members and retirees can update beneficiaries online through their secure
myVRS account
Request for Transfer of Funds to ORP (VRS-3ORP)
Conversion of Group Life Insurance Enrollment (VRS-35)
Request for Health Insurance Credit (VRS-45)
Notice of Return to Covered Employment Optional Retirement Plan Retiree (VRS-7ORP)
Termination Certification Form – Optional Retirement Plan for Higher Education (VRS-65D)
Optional/Alternative Retirement Plan Health Insurance Credit Employer Certification of Service (VRS-75)
VRS Durable Power of Attorney (VRS-901)
Additional Resources
How to Use a Benchmark Index
Performance & Fees
Annual Fee Disclosure
Bundled DC Plan Investment Policy Statement
Unbundled DC Plan Investment Policy Statement
Optional Retirement Plan
for Higher Education