Retirement Plans
- Tennessee Consolidated Retirement System (TCRS)
1-800-770-8277
Home Page
Benefits Calculator
Forms - ING
(901) 496-2741 or 1-800-262-3862
Representative: Calvin Reid
Home Page - VALIC
(901) 755-9277 or 1-800-892-5558 ext. 88369
Representative: Scot Brothers
Home Page - TIAA-CREF
1-770-512-3508 or 1-800-842-2888
Representative: Jim Hogan
Home Page
Enrollment/Change Periods
Employees who are eligible to participate in the ORP but who elected to participate in TCRS may make a one-time election to transfer membership from TCRS to the ORP. Members are advised to obtain a TCRS benefit estimate before making a decision to transfer.
Employees who participate in the ORP generally may not transfer membership to TCRS, however beginning in 2005, ORP members with 5 years of service will have a one-time transfer option to TCRS.
- All full and part-time employees (faculty and staff)
- Non-US citizens on F-1 or J-1 visas are not eligible for retirement membership
- Monthly paid employees are eligible for both TCRS and ORP
- Bi-weekly paid employees are eligible for TCRS only
The University of Memphis offers a state-supported, noncontributory retirement system. The University pays all retirement contributions; employees pay nothing. There are two programs offered:
Tennessee Consolidated Retirement System (TCRS)
Employees who are members of the TCRS are eligible to retire at age 60 or upon completion of 30 years of service, regardless of age. A member with 5 years of service may retire at age 55 with reduced benefits. There is also a disability benefit.
Optional Retirement Program (ORP)
The ORP is authorized by the State's statutes on retirement. The University contributes an amount equal to 10% of the employee's gross monthly salary each month into the ORP. The employee can not make contributions to the ORP. Employees may choose from among three companies, ING, TIAA-CREF, and AIG-VALIC, in which to invest these retirement contributions. Employees who participate in the ORP may direct employer contributions made on their behalf to one or more of the companies designated to provide annuity contracts under the state's ORP. Once funds are on deposit with a designated company, the participant may move those funds among the different investment accounts offered under the company's annuity contract, subject to the restrictions of the contract. The participant may authorize such internal transfers by telephone directly with the company.
Other Information
TCRS/ORP Comparison Chart