Get the free ORP Retirement Plan Election Form - Cornell University - hr cornell

CORNELL UNIVERSITY CONTRACT COLLEGE RETIREMENT PLAN ELECTION FORM Human Resources Benefit Services East Hill Office Building, Suite 130 395 Pine Tree Road Ithaca, NY 14850 (607) 2553936 PART A: CONTRACT

How to fill out orp retirement plan election

How to fill out orp retirement plan election:

1. Obtain the necessary forms: Contact your employer or retirement plan administrator to request the ORP Retirement Plan Election form.
2. Review the instructions: Carefully read and understand the instructions provided with the form. This will help you accurately complete the document.
3. Personal information: Fill in your personal details such as your name, address, social security number, and contact information. Ensure that all information is accurate and up to date.
4. Current retirement plan information: If you are currently enrolled in another retirement plan, provide the necessary information about that plan, such as the name of the plan and your account number.
5. Choose your investment options: The ORP retirement plan offers various investment options. Consider your risk tolerance and investment goals to select the investment option(s) that best align with your preferences.
6. Beneficiary designation: Determine who you want to designate as your primary beneficiary and any contingent beneficiaries. Provide their names, relationship to you, and appropriate contact information.
7. Signature and date: Sign and date the ORP Retirement Plan Election form to indicate your agreement and understanding of the terms and conditions.
8. Submit the form: After completing the form, follow the provided instructions to submit it. This may involve returning it to your employer, retirement plan administrator, or another designated party.

Who needs ORP retirement plan election?

1. Employees in certain professions: ORP retirement plans are commonly available to employees in higher education institutions, such as professors, researchers, administrators, and academic staff.
2. Individuals seeking a retirement savings plan: Those who want to save for retirement and are eligible to participate in an ORP retirement plan can benefit from this option.
3. Employees with an existing retirement plan: If you are currently enrolled in another retirement plan and wish to switch to an ORP retirement plan, you will need to complete the ORP Retirement Plan Election form to make the change.

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What is orp retirement plan election?

The ORP retirement plan election is a form that allows state employees to choose between the Optional Retirement Program (ORP) or the Teachers' Retirement System (TRS) for their retirement benefits.

Who is required to file orp retirement plan election?

All state employees who are eligible for both ORP and TRS are required to file an ORP retirement plan election.

How to fill out orp retirement plan election?

The ORP retirement plan election form can be filled out online or in person with your HR department. The form will require personal information, retirement plan selection, and beneficiary designation.

What is the purpose of orp retirement plan election?

The purpose of the ORP retirement plan election is to allow state employees to choose the retirement plan that best fits their needs and preferences.

What information must be reported on orp retirement plan election?

The ORP retirement plan election form requires personal information such as name, social security number, date of birth, as well as retirement plan selection and beneficiary designation.