Open Enrollment
Participants in the Optional Retirement Plan for Higher Education (ORPHE) have an opportunity to change providers each year. Open Enrollment occurs annually from October 1 to October 31, effective the first payroll in the following calendar year.
Watch the 2024 VRS ORPHE Open Enrollment recording to learn more.
(Registration required to access the recording.)
Participants have a choice of two providers: DCP (currently record kept by MissionSquare Retirement, transitioning to Voya on January 1, 2025) and TIAA. See Provider Options for information on the plan investments available through each provider.
Jump-Start Your Financial Future
Learn about services and features offered by Voya Financial.
View Presentation
Get a Head Start on Your Future
Learn more about services and features offered by TIAA.
View PresentationFrequently Asked Questions
What are the differences between investment providers?
You can use the ORPHE provider options chart to compare each provider’s services and plan features.
How can I learn more about investment performance and fees?
For more information, refer to Performance & Fees.
May I transfer my existing funds from one provider to another?
Yes. This is called a plan-to-plan transfer. Plan-to-plan transfers are permitted, subject to any fund-specific trading restrictions or short-term trading redemption fees. Check with your provider regarding any restrictions or fees.
Is my ORPHE account portable if I move to an employer covered under a different plan?
Yes. As required by Internal Revenue Code regulations, assets are always portable once a participant separates employment and becomes eligible for a distribution.
Assets may be rolled over to a new employer's plan or to an Individual Retirement Account (IRA).
If a new employer offers the same provider, the plan is administered under the new employer's contract with the provider. The same investment options may not be available.
