Provider Options
Use the chart below to compare each ORPHE provider’s available services and plan features.
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| Record Keeper | MissionSquare RetirementVoya Financial will become the third-party record keeper for the VRS Defined Contribution Plans (DCP), effective January 1, 2025. Any investment changes will be determined by VRS, which will continue to select the available investments, as with the previous record keeper. |
TIAA |
| Services | DCP offers an economically priced fee structure with diversified investments to help public sector employees build retirement security. Investments are organized into three pathways, making it easier to implement your strategy. Count on the support of a local team of DCP Retirement Specialists focused on helping you meet your goals. Manage your account 24/7 with a suite of online and mobile-friendly tools and resources. |
TIAA is here to help you achieve a lifetime of financial well-being. TIAA ranks #1 in assets among all financial firms serving higher education. As a full service financial organization, TIAA has local, dedicated financial consultants in Virginia to help you reach your short and long-term goals. TIAA annuities are managed at cost – we do not make a profit. |
Investment Performance |
View Now | View Now |
Plan Administrative Fees See Performance & Fees for additional information. |
Effective until 12/31/2024: $30.50 flat fee annually. Effective 1/1/2025: $35.50 flat fee annually. Details
A record-keeping/plan administration fee of $2.54 will be deducted from your account on a monthly basis ($30.50/year). If you participate in more than one Commonwealth of Virginia (COV) defined contribution plan, like the COV 457 Deferred Compensation Plan or Virginia Cash Match Plan, only one annual fee of $30.50 will be deducted from your account. Additional fees may be associated with the self-directed brokerage account. |
$28.00 flat fee annually DetailsNew WindowDetails
A record-keeping/plan administration fee of $7.00 will be deducted from your account on a quarterly basis ($28.00/year). The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. If your account balance is less than $25 on the date a quarterly fee is to be assessed, no fee will be charged. Additional fees may be associated with the self-directed brokerage account and other non-investment related expenses embedded in the proprietary annuity account options in both the active and legacy/inactive plan. |
Range of fees (All provider fees subject to change.) See Performance & Fees for additional information. |
0.01% - 0.59% annualized |
0.01% - 0.77% annualized Some funds may include investment and administrative expenses. DetailsNew WindowDetails
A record-keeping/plan administration fee of $7.00 will be deducted from your account on a quarterly basis ($28.00/year). The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. If your account balance is less than $25 on the date a quarterly fee is to be assessed, no fee will be charged. Additional fees may be associated with the self-directed brokerage account and other non-investment related expenses embedded in the proprietary annuity account options in both the active and legacy/inactive plan. |
| Number of Investments Available Target date fund series are treated as one option |
11 | 11 |
| Default Investment Option | Target Date Funds | Target Date Funds |
| Self-Directed Brokerage Account | Yes | Yes |
| Annuities Available as a Plan Distribution Option | Yes | Yes |
| Dedicated Plan Representatives Investment advice is not an authorized service for the ORPHE plan. |
Yes | Yes |
NoteIf you are a new faculty member at The College of William and Mary, including the Virginia Institute of Marine Science; George Mason University; University of Virginia; Virginia Commonwealth University and Virginia Tech, these institutions have opted out of the VRS-administered optional retirement plan (ORP) and offer an employer-administered ORP plan. Faculty members at these institutions do not have access to the compare and select plan features in myVRS nor the provider options and services indicated on this website.
