University employees hired into permanent positions have the option to participate in either the South Carolina Retirement System's traditional pension program or the State Optional Retirement Program. Those in eligible law enforcement positions, participate in the Police Officers Retirement Program. In addition, you may also choose to participate in the State Deferred Compensation Program with 457(b) and 401(k) plans, or in 403(b) plans with private insurance/investment companies.
Open Enrollment for State Optional Retirement Program Participants
The enrollment period for all State Optional Retirement Program (State ORP) participants is January 1 through March 1 of each year. During the open enrollment period, State ORP participants may change vendors or, if eligible, may irrevocably elect to join the South Carolina Retirement System (SCRS). Any State ORP participant who wishes to change vendors should complete a State ORP Notice of Termination or Change (Form 1162). State ORP participants are eligible to switch from the State ORP to SCRS during the 2014 open enrollment period if at any point during the open enrollment period they have a minimum of 12 months, but no more than a maximum of 60 months, participation from their initial enrollment in the State ORP (initial enrollment between January 1, 2009 and March 1, 2013).
The ‘Select a Retirement Plan Guide’ and the ‘It's Your Choice’ video are available at https://www.peba.sc.gov/retirement.html in order to assist you in making this important retirement decision.
Any State ORP participant who decides to irrevocably join SCRS must complete and sign:
- Retirement Plan Enrollment (Form 1100), and
- Beneficiary Designation (Form 1102).
These forms, the guide, and video are available on the retirement website at https://www.peba.sc.gov/retirement.html. Changes made during the open enrollment period will be effective on April 1, 2014. Please submit signed forms for processing to the USCB Human Resources department.
General Retirement Information
- SC Retirement System Website
- SC Retirement System Resources
- "It's Your Choice: SCRS Plan or State ORP" (video)
- Select Your Retirement Plan Guide