Optional retirement program allows for open enrollment through February: 1/30

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Optional retirement program allows for open enrollment through February

The enrollment period for all State Optional Retirement Program (ORP) participants is from Jan. 1 through March 1 of each year.

This year, based on the extreme volatility in the financial markets and requests from members, an early transfer period was allowed. The early transfer period began Sept. 19, 2008, and only allows ORP members to switch from their existing ORP investment provider to a new one. However, during the open enrollment period, state ORP participants may change investment providers or, if eligible, may irrevocably elect to join the South Carolina Retirement System traditional plan (SCRS). State ORP participants who have a minimum of 12 months of participation but no more than 60 months of participation by March 1, (hired between Jan. 1, 2004 and March 1, 2008) are eligible to irrevocably switch from state ORP to SCRS during the 2009 open enrollment period.

For more information, university employees should contact the university benefits office at 792-2607 and medical center (MUHA) employees should call 792-8108.

Friday, Jan. 30, 2009

The Catalyst Online is published weekly by the MUSC Office of Public Relations for the faculty, employees and students of the Medical University of South Carolina. The Catalyst Online editor, Kim Draughn, can be reached at 792-4107 or by email, catalyst@musc.edu. Editorial copy can be submitted to The Catalyst Online and to The Catalyst in print by fax, 792-6723, or by email to catalyst@musc.edu. To place an ad in The Catalyst hardcopy, call Island Publications at 849-1778, ext. 201.