Enrollment

Enrollment

Enrolling in the UT System Retirement Program is easily accomplished. Investing for your life goals, however, requires experience.

There are six plans that you can choose from through Voya:

  • University of Texas System Optional Retirement Program (ORP) Variable Annuity Program
  • University of Texas System Optional Retirement Program (ORP) Mutual Fund Program
  • University of Texas System UTSaver TSA 403(b)(1) Variable Annuity Program
  • University of Texas System UTSaver TSA 403(b)(7) Mutual Fund Program
  • University of Texas System UTSaver DCP 457(b) Variable Annuity Program
  • University of Texas System UTSaver DCP 457(b) Mutual Fund Program

Before enrolling in a plan, 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:

  1. Meet with your dedicated UT approved financial professional.
    Contact your dedicated UT approved financial professional to schedule an appointment to enroll in the ORP, TSA, or DCP. Financial professionals are on campus throughout the University of Texas System and can guide you through the enrollment process. When you meet with your local financial professional, you can develop a retirement planning strategy, decide how much to contribute, select investment options, and designate a beneficiary for your account. You can also schedule appointments for periodic account reviews to check your progress and help ensure you remain on track toward meeting your retirement goals.
     
  2. Enroll in the Plan online.
    You can enroll online in the UT System ORP, UTSaver TSA and UTSaver DCP mutual fund programs. Online enrollment is a quick and easy process. To get started, select the “Enroll Now” button on this page. You must enroll in each plan separately and you must complete a Salary Reduction Agreement (available after login) to complete the enrollment process. To enroll in the UT System ORP, UTSaver TSA and UTSaver DCP variable annuity program, your must enroll through your dedicated UT approved financial professional.

    While enrolling online, you will be offered electronic copies of a participant disclosure booklet, investment fact sheets, and other documents we are required by law to provide at enrollment. If you would prefer to review a hard copy of these materials, you can request them by contacting your financial professional.

Investment adviser representative and/or registered representatives of, and securities and investment advisory services offered through Voya Financial Advisors, Inc. (member SIPC). Investment advisory services are only offered through Investment adviser representatives of Voya Financial Advisors.

You should consider the investment objectives, risks, and charges and expenses of the variable product and its underlying fund options; or mutual funds offered through a retirement plan, carefully before investing. The prospectuses/prospectus summaries/information booklets contain this and other information, which can be obtained by contacting your local representative. Please read the information carefully before investing.

Mutual funds under a trust or custodial account agreement are intended to be long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59 ½, an IRC 10% premature distribution penalty tax will apply, unless an IRS exception applies. Account values fluctuate with market conditions, and when surrendered, the principal may be worth more or less than the original amount invested. A group fixed annuity is an insurance contract designed for investing for retirement purposes. The guarantee of the fixed account is based on the claims-paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. Money taken from the plan 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.

For 403(b)(7) custodial accounts, employee deferrals and employer contributions (including earnings) may only be distributed upon your: attainment of age 59½, severance from employment, death, disability, or hardship. Note: hardship withdrawals are limited to: employee deferrals and '88 cash value (earnings on employee deferrals and employer contributions (including earnings) as of 12/31/88).