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Eligibility for the State University of New York ORP is limited to:

  • employees in the unclassified (e.g., UUP and MC-13) service who are full-time,
  • part-time faculty and staff who have term appointments
  • part-time Management Confidential employees
  • employees designated as eligible under local community college contract.

Starting early has its advantages


The State University of New York ORP is a defined contribution New York State Public Retirement Plan. Individual retirement benefits will depend on the value upon distribution of annuity contracts purchased on behalf of electing employees through employer and required employee contributions.


New York ORP does not accept rollovers from other retirement plans, traditional IRAs or Roth IRAs.


Vesting is a participant’s right of ownership to the money in his or her plan account.

  • Vesting in employer contributions occurs after 366 days of active service. This period may be waived for employees coming to State University of New York with active employer sponsored retirement annuity contracts from one of the State University of New York currently authorized investment providers. All contributions will become the property of, and all investments will be directed by, the participant upon vesting.
  • Employees are always vested in their contributions.

Important considerations before deciding to move funds either into or out of a Corebridge Retirement Services account
There are many things to consider. For starters, you will want to carefully review and compare your existing account and the new account, including: fees and charges; guarantees and benefits; and, any limitations under either of the accounts. Also, you will want to know whether a surrender of your current account could result in charges. Your financial professional can help you review these and other important considerations. Consult a tax professional before making a decision to move funds either into or out of a Corebridge account.

Accessing your money before retirement


The State University of New York ORP is designed to allow retirement at any age.
  • Distributions from ORP contracts are permitted any time after separation from services, subject to an IRS 10% penalty for distributions prior to age 59½, unless separating from service after reaching the normal retirement age of 55.
  • Inservice distributions are not allowed.
  • Other allowed distributions include: certain hardship withdrawals, loans, QDRO account distributions, and distributions made upon your separation from service, death, or disability.

In addition, the Internal Revenue Service (IRS) requires you to take Required Minimum Distribution (RMD) withdrawals from your retirement account(s) annually beginning the year you reach the RMD eligible age. RMD eligible age is:

  • Age 73 if you were born January 1, 1951, or later (The RMD eligible age will increase to age 75 after December 31, 2032)
  • Age 72 if you were born after June 30, 1949, and before January 1, 1951 (For individuals turning age 72 in 2023, no RMD payment is required in 2023)
  • Age 70 ½ if you were born before July 1, 1949.


Loan provisions in the plan make it possible to access your account, subject to certain limitations, without permanently reducing your account balance. Defaulted loan amounts (not repaid on time) will be taxed as ordinary income and may be subject to a 10% federal tax penalty if you are under age 59½.

Employees may borrow up to 50% of the accumulated value of their contracts, subject to IRS regulations. Current IRS regulations set a maximum aggregate loan balance of $50,000.

RO 2767020 (3/2023)