Optional Retirement Plan

The Optional Retirement Plan (ORP) for Higher Education was established for employees of Virginia’s public colleges and universities who could benefit from the portability of a defined contribution plan and to assist institutions of higher education recruit faculty employees.

Eligible employees include:

  • Full-time, part-time, salaried employees in teaching, admin/research positions who hold faculty rank
  • The president of a participating institution of higher education
  • The Chancellor of the Virginia Community College System

Company comparison sheets are distributed at orientation, and an annual Benefits Fair is held in the fall.