ORP Retirement

Optional Retirement Plan (ORP)

All retirement planning sessions with TIAA, Fidelity, Mission Square (formerly ICMA) and VRS are available through the signup links below. You can choose to meet virtually or in-person. 

To learn how to make the most of your appointment, watch this video developed by TIAA.

UVA partners with TIAA and Fidelity Investments to offer a robust retirement plan so you can save for your future. When you enroll in ORP, you also have short- and long-term disability, and life insurance with The Standard.

Listen to the Retirement Podcast about VRS, ORP, and UVA's 403b Transcript of Retirement Podcast

Get the Most from ORP Membership

  1. Choose from either TIAA or Fidelity Investments. Discover resources and representatives to help you choose your plan. Set up a consultation or attend a seminar right here at UVA.

  2. Contact TIAA, log in to your account, and more

    Account login

  1. Contact Fidelity, log in to your account, and more

    Account log-in

  2. ORP Plan Document

    View the Document

Enroll in ORP

Learn more about who is eligible and how to enroll. As a reminder, the choice you make between enrolling in VRS and ORP is permanent and affects coverage for disability, accidental death and dismemberment (AD&D), and life insurance.

You have 60 days from your date of hire to select a retirement plan, otherwise you will be enrolled in VRS.

  • Who is eligible?

    ORP is available to the following employee types:

    • University Staff Managerial & Professional
    • University Staff Executive
    • Faculty
    • Professional Research Staff

    If hired on or after 7/1/10, you can enroll in ORP Plan 2.

    You can stay in ORP Plan 1 if you were hired before 7/1/10 and have not taken a refund - as long as you have documentation of the most recent statement (or a current statement proving your account balance).

  • How do I enroll?

    • For new hires only, navigate to Workday>Inbox and follow the instructions for your new hire enrollment action

    • Select specific investments from either TIAA or Fidelity (you must make a specific fund choice, or be placed into the default investment plan)

    • Complete the VRS-65: Optional Retirement Plan for Higher Education form and return it to the HR Solution Center

How does ORP work?

ORP is a defined contribution plan based on tax-deferred accumulations (meaning taxes are paid later, during retirement). UVA contributes a percentage of your annual compensation to your account. If you have ORP Plan 2, you also make a contribution.

With ORP, you have more control over your account. You choose how contributions will be invested, and the amount of your benefit depends on net investment earnings. (However, this also means you bear the investment risk.)

  • ORP Plan 2

    For employees hired on or after July 1, 2010:

    • You contribute 5%.
    • UVA contributes 8.9%.
  • Vesting

    Vesting is the minimum length of service you need to be eligible to withdraw employer contributions from a retirement plan. If you were hired on or after 7/1/14, you are fully vested after two years of continuous employment.

    Service when a direct transfer, without a break in service from the MCRP, will count towards the 2-year ORP vesting requirement. Previous service in a VRS plan does not count toward the 2-year requirement.

    If you leave UVA before you are vested, you will only have access to the 5% contribution you made - not contributions made by UVA.

    If you were hired between 7/1/10 and 7/1/14, you are fully vested from the start to receive all money UVA contributes.

  • ORP Plan 1

    For employees hired before 7/1/10, who did not take a refund:

    • UVA contributes 10.4%.
    • You are not required to invest your own money.
    • You are fully vested from the start to receive all money UVA contributes.
  • Can I receive retirement annuities?

    You may not receive a retirement annuity while UVA is making contributions to your account. If you are receiving a retirement annuity from any Commonwealth of Virginia agency, please contact UVA HR.

Learn More about Your Retirement Options

  • 403(b) and 457 Supplemental Savings Plans

    If you are eligible for one of the retirement plans, you may also have a supplemental savings plan. Housestaff, temp, and wage employees may also enroll in a supplemental savings plan.

    Learn More