NEWS TO USE
State ORP Open Enrollment:
The open enrollment period for the State Optional Retirement Program (State ORP) is January 1 through March 1. During the open enrollment period, State ORP participants may change vendors or, if eligible, may irrevocably elect to join the South Carolina Retirement System (SCRS).
Any State ORP participant electing to change vendors should complete a State ORP Notice of Termination or Change (Form 1162) and an enrollment form for the new vendor selected. Forms are available from the Benefits Office (803-777-6650), your campus Human Resources Office, or online. Completed forms must be returned to the Benefits Office by Friday, February 28, 2014.
State ORP participants who have a minimum of 12 months of participation but no more than 60 months of participation by March 1, 2014 (hired between January 1, 2009 and March 1, 2013) are eligible to switch from State ORP to SCRS during the 2013 open enrollment period. The choice to switch to SCRS is irrevocable. Please view the video “It’s Your Choice: SCRS Plan or State ORP”, for more detailed information to assist you in making this important retirement decision. SCRS membership for State ORP participants who elect to permanently join the SCRS is effective April 1, 2014. Consequently, Visual Information Processing (VIP) will not reflect SCRS as the employee’s retirement plan until April 1, 2014.
State ORP participants who decide to permanently join the SCRS must complete and sign both the Retirement Plan Enrollment Form (Form 1100) and the Active Beneficiary Form (Form 1102).
In addition, SCRS members may purchase service for periods of State ORP participation based on an actuarially neutral service purchase formula.
ORP participants will be notified by letter with details about their current options. If you are within one to five years of membership and have not been contacted, or if you have any questions or concerns, please contact the Benefits Office at (803) 777-6650 or your campus Human Resource Office.
Affordable Care Act:
As you prepare for the individual and employer mandates under the Affordable Care Act (ACA), the following frequently asked questions will assist in your understanding of this topic:
General Employee Frequently Asked Questions: ACA