Actions for Current Participants

Once you're already enrolled in a retirement option, your opportunities to make changes depend on your employee group (see below). Any employee can start, stop, or change their contributions to the Voluntary Retirement Savings Plans at any time.

Descriptions of Your Plan Participation

Salaried & Hourly Employees

Benefits-eligible salaried and hourly employees have made a one-time, non-reversible choice whether or not to participate in the Oklahoma Teachers' Retirement System (OTRS). Most employees made this choice at the time they were hired or when the state law changed May 7, 2021. The amount that OU contributes to your 401(a) defined contribution plan depends on if you are participating in OTRS. 

For employees hired on or before 12/31/22:

You're on Target!          7% + 8% = 15%

If you're participating in OTRS, you are contributing 7% of your total compensation to OTRS. The university also contributes 8% of your base salary after $9,000 on your behalf to the OU Contributory Retirement Plan, a 401(a) defined contribution plan. 

You're on Your Way        9% + x%

If you're not participating in Oklahoma Teachers' Retirement System (OTRS), then you're not automatically saving any of your own money for retirement. If you're benefits-eligible, the university contributes 9% of base salary on your behalf to the OU Retirement Plan, a 401(a) defined contribution plan on your behalf. You can move toward the 15% savings target by adding your savings to the contributions made by OU through a Voluntary Retirement Savings Plan.

For employees hired on or after 1/1/23:

OTRS Option 1:          7% + x% 

If you're participating in OTRS, you are contributing 7% of your total compensation to OTRS. You can increase your savings by also contributing to a voluntary retirement plan.

Option 2:        9% + x%

If you're not participating in Oklahoma Teachers' Retirement System (OTRS), then you're not automatically saving any of your own money for retirement. If you're benefits-eligible, the university contributes 9% of base salary on your behalf to the OU Contributory Retirement Plan. You can increase your savings by also contributing to a voluntary retirement plan.

Retirement Plans - Changing Your Information

Before you retire, change your address with the university by loggin in to Employee Self-Service and change your name by contacting employee records. HR will automatically share your information with the retirement companies.

After you retire, contact Human Resources to change your name or address. Then, follow the directions below to make changes with the retirement companies directly.

 

Complete the Name/Address Change Form available on the OTRS website and return the completed form to OTRS.

Before you retire, change your address in Employee Self-Service. Contact HR Employee Records to make a name change. This information will be automatically shared with Fidelity.

Retirees or terminated employees should call Fidelity at (800)-343-0860 to request a name or address change. When you call Fidelity about a name change, they will send you the required forms. Return the completed forms and required documentation to Fidelity.

Log in to the TIAA website or call (800)-842-2733. Address changes can be made over the phone. When you call TIAA about a name change, they will send you the required forms. Return the completed forms and required documentation to TIAA.

Address changes are not required until retirement benefits begin. To change your name, visit the Social Security-Change Name webpage. Applications must include legal documentation of name change.

In the Voluntary Retirement Savings Plans and the 401(a) defined contribution plans (both the OU Contributory Retirement Plan and the OU Retirement Plan), you can change the investment funds and the amounts you have invested in each fund by logging in to Fidelity NetBenefits. 

To make changes to investments with TIAA-CREF, log in to the TIAA-CREF website (www.tiaa-cref.org) or call (800-842-2733).

Credit for Previous OU Service

Current university employees who were employed at the Health Sciences Center, Tulsa Campus, or the Norman Campus and have prior university benefits-eligible service receive credit for those years of service towards their university retirement. The following criteria will be used to determine an employee's eligibility for additional years of service:
  1. Current benefits-eligible employee;
  2. Prior university benefits-eligible service on the Norman Campus, Health Sciences Center, or Tulsa Campus.
All employees that meet the above mentioned criteria should submit the Previous OU Employment Verification form to Human Resources(HR) Employee Services. Once the form is completed and returned to HR, your prior employment service will be verified and the appropriate changes will be made to your payroll records.

Previous years of OU service may be eligible for calculation in your campus's staff senate service awards. Please contact your campus staff senate for eligibility rules and additional information.

Please note if you participate in Oklahoma Teachers' Retirement System (OTRS), your previous years will only be counted if you left your contributions or you bought back those years. If you have any questions regarding your years of service for OTRS, please contact them at 405-521-2387.

If you have any questions, please contact HR.