Open Enrollment Reminder for State ORP Eligible Employers

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Date Posted: January 4, 2011
Category: Employers

The enrollment period for all State Optional Retirement Program (State ORP) participants is January 1 through March 1 of each year. During the open enrollment period, State ORP participants may change vendors or, if eligible, may irrevocably elect to join the South Carolina Retirement System (SCRS). Any State ORP participant who wishes to change vendors should complete a State ORP Notice of Termination or Change (Form 1162). A State ORP participant is eligible to switch from the State ORP to SCRS during the 2011 open enrollment period if at any point during the open enrollment period the member has a minimum of 12 months but no more than a maximum of 60 months participation from his initial enrollment in the State ORP (in other words, if the initial enrollment was between January 1, 2006 and March 1, 2010). 

Employers are responsible for notifying all State ORP participants of the open enrollment period. The enrollment period offers significant choices for State ORP participants so we encourage you to consider providing an opportunity for the four State ORP vendors, VALIC, Hartford, MetLife, and TIAA CREF, to meet with interested, eligible employees at your worksite to answer any questions they may have. The vendors may contact you to arrange a meeting with your eligible employees. Also, please provide your employees with the Select Your Retirement Plan guide, or have them view “It’s Your Choice: SCRS vs. State ORP” in order to assist them in making this important retirement decision. 

Any State ORP participant who decides to irrevocably join SCRS must complete and sign:

These forms, the guide, and video are available on our website at www.retirement.sc.gov.

Since any changes made during the open enrollment period are not effective until April 1, 2011, do not make any applicable payroll changes until the first payroll on or after April 1, 2011.

If you have any questions, please contact Customer Services at 800-868-9002, 803-737-6800 or www.retirement.sc.gov.

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