The university is in the process of opting out of the Virginia Retirement System Optional Retirement Plan for those employees who participate in the ORP. Employees who participate in one of the VRS defined benefit pension plans are not impacted by the change to the ORP.
Employees in the Optional Retirement Plan will be able to make new investment choices beginning January 3, 2018. Likewise, employees who participate in the 403(b) and Cash Match Plans will also have new investment choices available to them in 2018. Details about the changes and the timing of these changes are described in the FAQs.