Positions eligible for the ORP are indicated in the University Pay Plan . 02.03 Participation in the TSA and DCP programs is voluntary, is in addition to membership in the TRS or ORP, and is available to both TRS and ORP participants. Additionally, benefits-eligible student employees appointed by RBC may also participate in the TSA and DCP programs. Both the employee and the employer make contributions to TRS based on legislatively-determined percentages of the employee's salary. It provides stability and does not require any investment decisions from individual members.
Benefits are available for retirement, disability and death.
Retirement benefits are based on a legislatively- determined formula that uses highest salary and number of years of service at certain ages. Retirement income is provided for a specified number of years or for life. Both the employee and the employer make contributions to ORP based on legislatively-determined percentages of the employee's salary. Since participants manage their own personal investment accounts, ORP entails more individual risk and responsibility than that associated with TRS membership. Benefits are a direct result of the amounts contributed and the return on investments made by each participant.