Optional Retirement Plan
Effective 7/1/1990, employees who are eligible for membership in TRSL are given the
choice of joining TRSL or VOYA Retirement, one of the Optional Retirement Plans (ORP).
The decision of which retirement plan to join is a one-time irrevocable decision. ACT 92 of 1992 allows members of TRSL eligible for the ORP to make an irrevocable
decision to participate in an ORP prior to the attainment of five years of creditable
service in TRSL. Employees who join an ORPcan change carriers at any time during the
year. If an employee selects an ORP, their contributions are tied up until they terminate
employment and elect to draw a monthly payout. In accordance with Louisiana statutes,
employees who terminate employment cannot receive a lump sum cash refund of contributions.
Under the ORP, employee contributions are fully and immediately vested in the employee's
retirement annuity contract. This allows portability to or from other institutions
of higher education for the purchase of additional annuity contracts.
For more information about VOYA Retirement, please visit their home page at http://www.voyaretirementplans.com.
You can contact either of our local VOYA for more information:
Keith Jones (601) 248-1689, email@example.com
Colette Riha (225) 266-9413 firstname.lastname@example.org
Tiffany Knapp (225) 937-2097