Oregon Public Universities Retirement Benefits (OPURP)
COVID - 19 INFORMATION
Questions about your TIAA account?
On Tuesday, June 23, the Internal Revenue Service released Notice 2020-51 which states that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver for 2020. The 60-day rollover period for any RMDs already taken this year has been extended to August 31, 2020, to give taxpayers time to take advantage of this opportunity.
This website is designed to provide you with all the information you need to adequately assess your retirement plan options through the Oregon Public University System.
Here you will find:
- Guidebooks and highlights for our plans
- Information on advisory committee meetings
- Our quarterly newsletter
- Any updates to the plans due to statute changes or internal review
- Forms for all of your rollover, transfer, enrollment and retirement needs
- Contact information for OPURP and benefits managers for all seven universities
- Information and links to helpful pages on the Public Employees Retirement System (PERS)
Brief Sumary of Plan Options through Oregon Public Universities
Optional Retirement Plan (ORP)
A Pension alternative for academic and administrative unclassified employees, which is designed to provide choice and portability of retirement investments. Eligible employees may participate in the ORP in lieu of PERS.
Tax-Deferred Investment 403(b) Plan (TDI)
A voluntary retirement savings plan for classified and unclassified employees, the TDI provides pre-tax savings for retirement.* The TDI can be used in addition to the basic pension, and by eligible employees regardless of whether they participate in the ORP or PERS.
* Our plan Providers do offer Roth (post-tax) savings options as well.
Public Employees Retirement System (PERS)
Administered by the State of Oregon, PERS is a retirement pension program open only to public sector employees in the State of Oregon. Participating employees can still be eligible for participation in the TDI. Please see the PERS website for the most up to date information regarding this option.
Oregon Savings Growth Plan (OSGP)
As an alternative to the TDI, OSGP provides voluntary pre- and post-tax retirement savings options to public employees in the State of Oregon. This is a 457(b) plan, not a 403(b) plan like the TDI. Please see the OSGP website for the most up to date information regarding this option.