If you are interested in the ORP, your personnel office can provide more information. Monthly annuity determined by employer and member contributions and investment return on those contributions. Contributions do not determine benefits. Employee payroll contribution is 8 percent of salary. Total employer contribution is the same as for the Optional Retirement Plan.
Contributions determine benefits.
Employee payroll contribution is 8 percent of salary. Also, approximately 7 percent of salary, part of what is contributed by the employer, is added to the ORP account. No matter how long a member lives, the retirement benefit will continue. Lifetime benefit based on amount accumulated in contributions account. Lifetime benefit payable after 20 years of service or 10 years of service at age 60.