ORP Vesting FAQ
When am I vested?
When you are a new participant in the Optional Retirement Plan, you become vested once you have two years of continuous employment.
If I leave UVA employment before I am vested, can I take any of the accumulated funds with me?
The 5% contribution you have made is yours when you leave UVA employment. However, if you leave UVA before you are vested, you will not have access to any of the contributions made by UVA.
If I transfer from another position and elect ORP, does my previous service count towards the vesting requirement?
The vesting requirement must be fulfilled while you are actually in the retirement plan. The previous service does not count toward the two-year requirement.
For example, if you transitioned from an Operational & Administrative position to a Managerial & Professional position or from the UVA Medical Center to the Academic Division, you might be newly eligible for ORP and decide to enroll. Your service starts counting toward the two-year requirement when you enroll in ORP.
When do I have to choose a retirement program?
You have 60 days from your date of hire to elect a retirement program. If you do not select a program during the 60 days, state policy requires you to be enrolled in VRS.
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