Optional Retirement Plan (ORP) is Mandatory
The 1990 state legislature established the Optional Retirement Plan (ORP) for Faculty and Non-Faculty professional staff – this is a mandatory retirement program. The ORP is a defined contribution plan and is administered by Fidelity Investments. Information and frequently asked questions (FAQs) are posted online at myfidelitysite.com/ISBOE.
- Employee contribution: 6.97%
- University contribution: 9.27%
Employees are immediately vested in both their contributions as well as the University’s contributions to their account upon enrollment.
Eligibility requirements and benefits are governed by the ORP plan document found on the Idaho State Board of Education website.
- Fidelity Blackout Period Dec. 2 to Dec. 23, 2024 (sent 11/5/24)
- Your Optional Retirement Plan is Moving to Fidelity (sent 9/23/24)
Disability Protection with the ORP
The University purchases a retirement deposit protection policy from The Standard Insurance which, in the event of an approved disability absence of six or more months, continues retirement contributions to your account while you are on disability. Your on-line pay advice will reflect the University’s contribution for this coverage as “ORP Dis.”
Contact Information:
Fidelity Investments: Retirement Service Center
1-800-343-0860
netbenefits.com/idaho.
Schedule an appointment with Fidelity – Use “Idaho State Board of Education” as
the employer name.