Enrollment in the Optional Retirement Plan (ORP)

Enrolling in the Louisiana Optional Retirement Plan (ORP) is simple, but investing for your life goals requires experience.

The ORP is offered to the academic and unclassified employees of Louisiana’s public institutions of higher education as an alternative to the Teachers’ Retirement System of Louisiana (TRSL).

An eligible new employee must make a decision to become or to remain a member of the TRSL Regular Plan or participate in the ORP within 60 days of employment. If no decision is made within 60 days, the new employee must be placed in TRSL Regular Plan. For members who choose to participate in ORP within the first 60 days of hire, employee and employer contributions will be transferred to the chosen ORP carrier.

Note: An election to enroll in ORP is irrevocable and you will never again be a contributing member of TRSL, regardless of changes in employment.

For members who choose to participate in ORP after being a TRSL member, only the member portion of retirement contributions are transferred to the carrier. The employer portion remains with TRSL.

Before enrolling in the ORP, you should use this website to:

  • Understand the plan features
  • Review the investment options offered
  • Understand the investment option performance

There are two ways you can enroll in the plan with Voya:

1. Meet with your Voya® local financial professional.
Make an appointment with a local financial professional to enroll in a plan. We maintain regional representatives to serve campus locations throughout Louisiana and can guide you through the enrollment process. When you meet with your representative you can develop an asset allocation model to illustrate your investment and retirement objectives, decide how much to contribute, select investment options, and designate a beneficiary for your plan benefits. You can also set up time for periodic account reviews to help ensure you remain on track toward meeting your investment objectives.

2. Online enrollment.
Online enrollment is a quick and easy process. To get started, select the “Enroll Now” button on this page. Before enrolling online, be prepared to provide the name of each person you wish to designate as your beneficiary. You may submit up to 10 beneficiaries online. If you have more than 10 beneficiaries, we suggest that you contact a local financial professional for additional assistance.

While enrolling online, you will be offered electronic copies of a participant disclosure booklet, investment fact sheets, and other documents we are required to provide at enrollment. Included is a “Payroll Authorization” link that opens the “Application for Optional Retirement Plan” form. You must complete and return the form to your employer. If you would prefer to review a hard copy of these materials, you can request them by contacting a local financial professional.

You should consider the investment objectives, risks, and charges and expenses of the mutual funds offered through a retirement plan, carefully before investing. The fund prospectuses and information booklet containing this and other information can be obtained by contacting your local financial professional. Please read the information carefully before investing.

Louisiana is a "community property" state. Under the Louisiana Civil Code, a spouse is entitled to 50% of any payout from a public or private pension or retirement plan, an annuity policy or plan, an individual retirement account, a Keogh plan, a simplified employee plan, or any other similar retirement plan.

Neither Voya nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.

Mutual funds under a custodial or trust account agreement are intended as long-term investments designed for retirement purposes. Account values fluctuate with market conditions, and when surrendered, the principal may be worth more or less than the original amount invested. The Plan's Stable Value Option invests in the Voya Stable Value Fund, which is a collective investment trust maintained by Wilmington Trust Company. The Plan's Stable Value Option is backed by a group annuity contract issued by Voya Retirement Insurance and Annuity Company ("VRIAC"). Guarantees are based on the claims paying ability of Voya Retirement Insurance and Annuity Company. The Plan's Stable Value Option, the Voya Stable Value Fund and the VRIAC group annuity contract are not registered investment companies and are not registered with the Securities and Exchange Commission. Although it is possible to have guaranteed income for life with a fixed/variable annuity, there is no assurance that this income will keep up with inflation. Early withdrawals taken prior to age 59½ are subject to an IRS 10% premature distribution penalty tax unless an exception applies. Money distributed will be taxed as ordinary income in the year the money is distributed. An annuity does not provide any additional tax benefit, as tax deferral is provided by the Plan. Annuities may be subject to additional fees and expenses, to which other tax-deferred funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.

Not FDIC/NCUA/NCUSIF Insured | Not a Deposit of a Bank/Credit Union | May Lose Value | Not Bank/Credit Union Guaranteed | Not Insured by Any Federal Government Agency

Insurance products issued by Voya Retirement Insurance and Annuity Company, One Orange Way, Windsor, CT 06095-4774. Securities are distributed by Voya Financial Partners, LLC (member SIPC). Custodial account agreements or trust agreements are provided by Voya Institutional Trust Company. Insurance obligations are the responsibility of each individual company. All companies are members of the Voya® family of companies. Securities may also be through other broker-dealers with which Voya has selling agreements. Product and services may not be available in all states.

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