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 of each year. During the Open Enrollment period State ORP participants may change their State ORP 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, your campus’ human resources office, or online. Completed forms must be returned to the Benefits Office by Friday, February 27, 2015.
State ORP participants who have a minimum of 12 months of participation but no more than 60 months of participation by March 1, 2015 (hired between January 1, 2010 and March 1, 2014) are eligible to switch from the State ORP to the SCRS during the 2015 Open Enrollment period. The choice to switch to SCRS is irrevocable. Please watch It’s Your Choice: SCRS Plan or State ORP for more detailed information to assist in making this important retirement decision. State ORP participants who elect to irrevocably join the SCRS will have a SCRS membership effective date of April 1, 2015. Consequently, Visual Information Processing (VIP) will not reflect SCRS as the employee’s retirement plan until April 1, 2015.
State ORP participants who decide to join the SCRS must complete and sign the following forms:
SCRS members may purchase service for periods of State ORP participation based on an actuarially neutral service purchase formula.
Letters with specific information will be forwarded to ORP participants with more details. If you are within one to five years of membership and have not received a letter, or if you have any other questions, 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 ACA Frequently Asked Questions