Final State ORP open enrollment reminder
By Megan Joyner, MEGANF@mailbox.sc.edu
The last day for State Optional Retirement Program (State ORP) open enrollment is Tuesday, March 1, 2016. During this period, State ORP participants may change vendors [pdf] or, if eligible, may choose to irrevocably switch to the South Carolina Retirement System (SCRS). Any changes made during this time will be effective as of April 1, 2016.
All employees who are currently enrolled in the State ORP should have already received an email from the Benefits Office regarding their open enrollment options.
State ORP participants are eligible to change from the State ORP to SCRS if they have been enrolled in the State ORP for at least 12 months, but no more than 60 months, from their initial enrollment in the State ORP (i.e., initial enrollment between January 1, 2011, and March 1, 2015) Please note, the next open enrollment period will not take place until January 1, 2017. If you reach 60 months of participation in the State ORP between March 2, 2016 and January 1, 2017, this open enrollment period will be your last opportunity to switch to SCRS.
An eligible State ORP participant who wishes to irrevocably elect to participate in SCRS must submit Form 1100 and Form 1102 to the Benefits Office, located at 1600 Hampton Street, Suite 801, Columbia, SC 29208. Vendor changes should be made through PEBA’s Member Access. If you are unable to change your vendor online, please submit Form 1162 to the Benefits Office.
For more information about your options during this open enrollment period, please visit the South Carolina Public Employee Benefit Authority (PEBA). You will also find resources such as the Select Your Retirement Plan guide and It’s Your Choice: SCRS or State ORP video to help you understand your retirement options. If you have any questions, please contact the Benefits Office at 803-777-6650.
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