The State Optional Retirement Program (State ORP) open enrollment period is in progress and will run through Sunday, March 1, 2020. Changes made during this time will be effective April 1, 2020.
Current ORP participants will be sent an email from the SC Public Employee Benefit Authority (PEBA) no later than January 15 with details concerning this enrollment period and an outline of their options. If you do not receive this communication, please contact the Benefits Office at 803-777-6650, and they will be happy to forward it to you.
During this period, State ORP participants may change vendors or, if eligible, may choose to irrevocably switch to the South Carolina Retirement System (SCRS).
State ORP participants are eligible to change from State ORP to SCRS if they have been enrolled in State ORP for at least 12 months, but no more than 60 months, from their initial enrollment in State ORP (i.e., initial enrollment took place between January 1, 2015 and March 1, 2019). Please note, the next open enrollment period will not take place until January 1, 2021. For employees who will reach 60 months of participation in the State ORP between March 2, 2020 and December 31, 2020, this open enrollment period will be the last opportunity to switch to SCRS.
For more information about options during this open enrollment period and how to make changes, please visit PEBA’s State ORP website to find resources such as the Select Your Retirement Plan guide and It’s Your Choice: SCRS or State ORP video.
Posted January 9, 2020