What Are the Contribution Amounts?

Contributions to the Optional Retirement Plan are the same as those required for PERS participation, except that the University’s contribution is split between the ORP and PERS. You contribute 7.25% on total earnings up to a maximum of $150,000, and the University contributes 9.35% to the ORP and 2.50% to PERS. Both the University’s and your contributions, which vest immediately, are portable.

University payments to PERS on behalf of ORP participants are applied to the accrued liability fund to offset losses resulting from nonparticipation but do not earn employees participating in the Optional Retirement Plan any additional retirement benefits from PERS.

• If you are an ORP-eligible employee, you have 30 days from the date of hire in which to elect retirement plan participation.

• If no election is made, you will default into PERS and the University will contact you to complete the necessary paperwork.

• An election to participate in the Optional Retirement Plan (ORP) is irrevocable and results in an employee’s ineligibility to participate in PERS.

Note: If you have participated in PERS within the past year with any agency or institution of the state of Mississippi, you may not be eligible to participate in the Optional Retirement Plan.

The ORP is administered by the Board of Trustees of the Public Employee’s Retirement System of Mississippi.

ORP of Mississippi