Salaried faculty members and eligible non-faculty professionals or administrators may elect to participate in the VCU Optional Retirement Plan (ORP).

For individuals who joined the plan and have an ORP or VRS balance prior to July 1, 2010, VCU will contribute an amount equal to 10.4% of their salary to the VCU ORP.

Employees hired on or after July 1, 2010, with no previous ORP or VRS account, contribute 5% of their salary and VCU will contribute an amount equal to 8.5% of their salary into the VCU ORP.

You have 60 days from your date of hire in a faculty position to enroll in the VCU ORP. If you do not enroll in the VCU ORP within 60 days, you will be enrolled in the Virginia Retirement System (VRS) and will no longer be eligible to participate in the VCU ORP. Your enrollment responsibility is to choose your vendor and investment options.

Salaried faculty members and eligible non-faculty professionals or administrators may elect to participate in the VCU Optional Retirement Plan (ORP).

For individuals who joined the plan and have an ORP or VRS balance prior to July 1, 2010, VCU will contribute an amount equal to 10.4% of their salary to the VCU ORP.

Employees hired on or after July 1, 2010, with no previous ORP or VRS account, contribute 5% of their salary and VCU will contribute an amount equal to 8.5% of their salary into the VCU ORP.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, reach age 59½, as defined by your plan.

Learn more about and/or request a withdrawal online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

If you have not already selected your beneficiaries, or if you have experienced a life-changing event such as a marriage, divorce, birth of a child, or a death in the family, it’s time to consider your beneficiary designations. Fidelity’s Online Beneficiaries Service, offers a straightforward, convenient process that takes just minutes. To make your elections, click on the “Profile & Settings” icon in the upper right-hand corner, then select “Beneficiaries” and follow the online instructions.