Notice:
MyFloridaHome Contact DMS Site Map DMS CUSTOMER SATISFACTION SURVEY

Department of Management Services

SUSORP - How to Enroll

An employee must actively elect to participate in the State University System Optional Retirement Program (SUSORP) within the first 90 days of employment to be eligible for a SUSORP benefit. Employees who do not become participants within the first 90 days of employment, or who terminate without enrolling in the SUSORP, default to the FRS Pension Plan unless they are mandatory SUSORP participants.

   

Active Election to Participate

  1. The employee and the employer must complete Form ORP-ENROLL-1 (Adobe PDF Document) and submit it to the Division of Retirement (division) within 90 days of employment; and
  2. The employee must execute a contract with at least one Investment Provider Company to establish a SUSORP account.

The Form ORP-ENROLL-1 (Adobe PDF Document) requires the employees to choose an Investment Provider Company and indicate the level of additional voluntary employee contributions (Choose from 0.00 percent to 5.14 percent).

Upon completion of the SUSORP active enrollment, employees are immediately vested.

Current Required Contributions to the SUSORP
Employer required investment contribution 5.14%
Employee required investment contribution 3.00%
Total 8.14%

SUSORP participants may designate an additional voluntary pre-tax investment contribution of up to 5.14 percent.

  

Mandatory Participants (Active and Renewed Membership)

It is very important that mandatory SUSORP members complete and submit the Mandatory Participation Form, ORP-MAND-1 (Adobe PDF Document) and provider contract as soon as possible. Without the participation form and completed provider contract, contributions paid on the member’s behalf will not be forwarded to an Investment Provider Company and contributions do not accrue interest.

  

Back to SUSORP Home Page