Optional Retirement Program. A. An Optional Retirement Program is provided for employees who are employed for no less than one academic year in accordance with Florida Statutes and applicable rules of the Division of Retirement.
Optional Retirement Program. (a) An optional Retirement Program is provided for faculty who are employed for no less than one academic year including the following provisions:
Optional Retirement Program. LEAVE WITH AND WITHOUT PAY
Optional Retirement Program. (ORP). The University will participate in the Optional Retirement Program (hereafter “ORP”) to the extent offered by the State of Florida in accordance with the provisions of State law. Eligibility criteria and terms for ORP participation are as follows:
Optional Retirement Program. Effective July 25, 1997, full-time bargaining unit members that are eligible may choose to participate in MPSERS or the ORP as regulated by state law. Less than full-time employees are not eligible to participate in the ORP and are automatically enrolled in MPSERS at hire.
Optional Retirement Program. Which will reduce my gross compensation by the amount specified by the State of Texas to provide retirement benefits; and apply said funds as payment for a retirement annuity contract selected by me and approved by the University of Houston System, in accordance with the terms of the Optional Retirement Program. The University of Houston System reserves the right to amend these amounts should future legislation make it necessary to do so. I acknowledge that the State’s contribution for the first full year (or fractional part thereof) of participation will be refunded to the state by the ORP carrier in the event I do not begin a second year of employment with the State of Texas in an ORP eligible position in accordance with the provisions of the Optional Retirement Statute. ❑ Tax Deferred Annuity Program – Which will reduce my gross compensation by the amount shown below and apply said sum toward the purchase in my name of a retirement annuity contract. Contract Criteria: Name of Carrier: Agent Name Telephone # ❑Initial Authorization ❑ Amended Authorization ❑Termination of Salary Agreement ❑Carrier Change Reduction Amount: Monthly: or Bi-Weekly: Is Age Related or Retirement Date Catch-up provision being used? ❑Yes ❑No Is 402(g) Service Date Catch-up provision being used? ❑Yes ❑No
Optional Retirement Program. Which will reduce my gross compensation by the amount specified by the State of Texas to provide retirement benefits; and apply said funds as payment for a retirement annuity contract selected by me and approved by the University of Houston System, in accordance with the terms of the Optional Retirement Program. The University of Houston System reserves the right to amend these amounts should future legislation make it necessary to do so. I acknowledge that the State’s contribution for the first full year (or fractional part thereof) of participation will be refunded to the state by the ORP carrier in the event I do not begin a second year of employment with the State of Texas in an ORP eligible position in accordance with the provisions of the Optional Retirement Statute. Contract Criteria: Name of Carrier: (ORP Program Only) Agent Name Telephone # (ORP Program Only) (ORP Program Only) Is Age Related or Retirement Date Catch-up provision being used? Yes No
