Employer Update

It’s time to notify participants in the Optional Retirement Plan for Higher Education (ORPHE) of the open-enrollment period that takes place in October.

Active ORPHE participants have a choice of two providers: DCP (VRS investment options record-kept by MissionSquare Retirement) and TIAA.

Participants who wish to change investment providers can compare and select their provider in myVRS. Provider changes become effective on the first pay date in January.

Encourage employees who are considering changing providers to use the ORPHE Provider Options chart to review each provider’s fees, services and plan features.

The Employers page on the ORPHE website includes instructions in the myVRS Navigator section for acknowledging provider changes.

Make sure your payroll records accurately reflect provider changes and remittance of contributions to the correct provider beginning with the first pay date in January.

Attend the annual ORPHE employer webinar: Get an overview of ORPHE resources, open enrollment materials and other plan administration updates. Attend the Annual ORP for Higher Education Employer Update webinar, Tuesday, September 19, 10-11 a.m.