Retirement

Who Can Enroll in this Plan?

• Non-exempt (hourly) benefits-eligible employees
• Exempt (salaried) staff employees
• Faculty members

Required

All non-exempt benefits-eligible UNG employees are required to participate in TRS.

Defined Benefit

TRS is considered a "defined benefit" program. Your benefit is "defined" by calculation using your years of membership service, the average of your two highest membership salary years, and a 2% multiplier.

Vesting

Members are vested after 10 years of membership service and any unused sick leave may be applied towards additional membership service.

Risk

Under TRS, you assume no investment risk and you are guaranteed retirement income for the rest of your life.

Contributions

Employees who participate in TRS contribute 6.00% of their salary; UNG contributes 14.27% (effective July 1, 2015).

TRS Links

Who can Enroll in this Plan?

• Exempt (salaried) staff employees
• Faculty members

Optional

Faculty members and exempt staff employees also have the option to participate in ORP.

Defined Contribution

ORP is a "defined contribution" program.

Vendors

There are three authorized ORP vendors:

• Fidelity
• TIAA-CREF
• Valic

Important: The decision to elect TRS or ORP is irrevocable and may not be changed at a later date.

Vesting

ORP members are immediately vested in both employee and employer contributions.

Risk

Retirement income is directly linked to the value of the account and the performance of investment choices.

Contributions

Employees who participate in ORP contribute 6.00% of their salary; UNG contributes 9.24% (effective July 1, 2015).

ORP Links

As an employee of the University of North Georgia you can participate in a 403(b) or 457(b) tax deferred retirement program on a voluntary basis. Participation in these supplemental plans is voluntary and would be in addition to TRS or ORP, not a replacement for either.

Who Can Enroll in This Plan?

All benefited employees of UNG.

Vendors

There are three authorized vendors:

• Fidelity
• TIAA-CREF
• Valic

Vesting

Members are immediately vested in employee contributions.

Risk

Retirement income is directly linked to the value of the account and the performance of investment choices.

Contributions

There is no match from USG to either plan.