Choosing a Retirement Option
To make your election, first you need to understand what options are available. OU offers two different retirement plan tracks and two voluntary retirement plans.There are also a few additional programs for specific employee groups listed at the bottom of this page.
- Track A includes the Defined Contribution Plan (DCP) and the Oklahoma Teachers' Retirement System (OTRS).
- Track B includes the Optional Retirement Plan (ORP).
- Voluntary Retirement Plans include 403(b) and 457(b) plans.
Eligibility to participate in the university retirement plans through Track A or Track B is determined by several factors. Review your eligibility and deadlines in Section 2 below. Then, review our entire Retirement Plan Decision Guide to help make the important decision between Track A and Track B. Salaried employees under age 45 must make a one-time, non-reversible election of a track within the first 90 days of employment. The required forms for Track A and Track B must be completed and received before salaried employees under age 45 are enrolled in Track A or Track B. Your plan enrollment date is the 1st of the month following receipt of the required forms.
A printable PDF version of the Retirement Plan Decision Guide is available by clicking on the Retirement Guides link in the above box.
Section 1 |
Hitting the Highlights: What are Track A and Track B |
Section 8 |
Questions and Answers about Making an Election |
Section 2 |
Review Your Eligibility |
Section 9 |
Track A Details |
Section 3 |
Track Comparison Chart |
Section 10 |
Track B Details |
Section 4 |
Questions to Ask Yourself |
Section 11 |
Voluntary Retirement Plans Details |
Section 5 |
A Look at Some Decision Factors |
Section 12 |
Looking Down the Road: Retirement Eligibility and Potential Retirement Earnings |
Section 6 |
By the Numbers: Determine your potential retirement benefits in each track |
Section 13 |
Social Security |
Section 7 |
Important Terms and Definitions |
|
Enrollment Forms |
Additional Information for Specific Employee Groups
Disclaimer
