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ORP plan

Please access the link below to view the features and highlights of your employer’s retirement plan.

The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.

Take advantage today

Participation in the plan is open to all eligible employees excluding leased employees. An eligible employee can participate in the plan immediately on their hire date. An eligible participant may enroll in the plan online, by phone or with a financial professional.


Click here for enrollment instructions.

Starting early has its advantages

Employee contributions

Through payroll deduction, your mandatory contribution rate is 6% of your regular compensation not to exceed the contribution limit. Special age 50 catch-up provisions may also be available. Talk to your financial professional for more information. 

If you have an existing qualified retirement plan (pretax), 403(b) tax-deferred arrangement or deferred compensation plan account with a prior employer, you can transfer or roll over that account into the plan on becoming a participant in the plan.

Contribution limit

Employer matching contribution

The employer will make a matching contribution to the plan at a rate of 10% of eligible compensation for each employee who makes mandatory employee contributions.


Vesting

Employer matching contributions will be 100% vested after one year of service

Accessing your money before retirement

Withdrawals

The plan was established to encourage long-term savings, so withdrawals prior to age 59½ might be subject to federal restrictions and a 10% federal early withdrawal penalty. 

Money can be withdrawn from the plan in these events:
 

  • Your attaining age 59½
  • Death
  • Severance from employment
  • Hardship 

Income taxes are payable upon withdrawal and federal withdrawal restrictions and a 10% federal early withdrawal penalty may apply to withdrawals prior to age 59½. 

Distribution from the ORP must begin by April 1 of the calendar year following the later of the calendar year in which you attain age 72 (age 70½ if born before July 1, 1949) or retire, whichever is later. 

Be sure to talk with your tax advisor before withdrawing any money from your plan account.


Loans

The plan is intended to help you put aside money for your retirement. However, your ORP plan includes a feature that lets you borrow money from your account.
 

  • Loans are available from employee contributions, rollovers and vested employer contributions. 
  • The amount the plan can loan to you is limited by rules under the tax law. All loans will be limited to the lesser of: one-half of your vested account balance or $50,000.
  • All loans must generally be repaid within five years.

Unpaid loan amounts will be taxed as ordinary income and may incur a 10% federal early withdrawal penalty if the employee is under age 59½. 

Other requirements and limits must be met prior to borrowing money from your account. For additional information regarding loans, please see your financial professional. 

An array of investment choices

The following investment options are available in your Arkansas State University plan. They provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences. 

View the entire list of funds and their performance available to Arkansas State University plan participants. (Please note: It may take a few minutes to load the performance.)   

To view or print a prospectus, access “Prospectuses and Other Important Materials”. The prospectus contains the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing. Please read the prospectus carefully before investing or sending money. You can also request a copy by calling 1-800-428-2542.