Effective 7/1/1990, employees who are eligible for membership in TRSL are given the choice of joining TRSL or TIAA-CREF, 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 ORP can 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.