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To be eligible to participate in ORP, an employee must be in a position that:

(a) satisfies job-related criteria established by the Texas Higher Education Coordinating Board, as interpreted by the system member chief executive officer;
(b) is budgeted for 100 percent time for at least four and one-half months; and
(c) does not require student status as a condition of employment.

Each eligible employee is allowed 90 days from the date of employment or eligibility to elect to participate in ORP. If this election is not made on or before the first day of employment, a new employee is required to become a member of TRS with the right to change to ORP within 90 days and apply for a refund of the employee's TRS contributions. Any eligible employee not exercising the irrevocable one-time option to participate in ORP during the 90-day period is thereafter required to continue membership in TRS.

Starting early has its advantages


All employer and employee contributions will be deposited into your Texas ORP account after every payroll period. Percentages for both the employee and employer contributions are set by the Texas State Legislature. All deferrals are made on a pre-tax basis.


Vesting refers to the length of service required for you to own the money deposited into your account. You are always 100% immediately vested in your own contributions. You are 100% vested in your employer's contributions after completing one year and one day of active participation in ORP.

Accessing your money before retirement

Distributions, Loans, Rollovers and Transfers

  • Terminated participants choose how and when to take distributions, including complete or periodic withdrawals and for some accounts, lifetime annuities. Early withdrawal penalties may apply.
  • ORP funds are available for withdrawal only upon termination of all employment with all Texas public institutions of higher education (up until Required Minimum Distributions as required by law).
  • Eligible distributions can be rolled over to eligible retirement plans such as an IRA.
  • Post-retirement cost-of-living adjustments (COLAs) are not available in an ORP-type plan.
  • There are no provisions in ORP to take out a loan or financial hardship withdrawal.

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.

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.

RO 2767020 (03/2023)