Home > For Campus Employees > Optional Retirement Program > Maintaining an ORP Account > Changing Providers

Changing Providers

Future Contributions
Participants may change ORP Providers as the recipient of future contributions anytime after 12 months have elapsed since (the more recent of) initial enrollment or the last change. To change Providers for prospective contributions, submit a new ORP Enrollment/Change Form and a new Provider Application to the college's Benefits Administrator.

Note: Changing the destination of future contributions (to a new Provider) does not automatically transfer current assets between Providers.

Transferring Existing Assets Between Providers
Participants may transfer assets between Providers at any time. The Providers’ forms should be used to establish a new account and to facilitate the transfer from one Provider to the other. These transfers do not require authorization from the Plan Administrator. Submit completed applications to the college's campus Benefits Administrator if future contributions will be remitted to the new Provider. Be certain to understand any fees and restrictions that may apply to such a transaction.

Participants younger than age 55 should remind the current Provider to send information about “old money” (grandfathered lump sum rules) to the new Provider when transferring funds.

Note: Changing the destination of current assets between Providers does not change Providers receiving future contributions.