RETIREMENT PLANS
Retirement plan contributions are paid by the University and participation is mandatory.
Regular non-exempt employees participate in the Tennessee Consolidated Retirement System. Regular full-time faculty and exempt staff participate in either the Tennessee Consolidated Retirement System (TCRS) or the Optional Retirement Program (ORP).
View a comparison of TCRS and ORP plans.
JCRS Retirement Plan
If you were a member of TIAA-CREF (the only retirement plan available) on June 30, 1977, you are a member of the Joint Contributory Retirement System (JCRS). JCRS has been closed since July 1, 1977. JCRS provides a benefit from the Optional Retirement Plan (ORP) company with the possibility of a state component. To determine if a participant will receive a state benefit, it will be necessary to perform the TN Consolidated Retirement System formula, then apply a hypothetical offset to the state formula benefit. The formula benefit and offset are individually specific.
TCRS Retirement Plan
The Tennessee Consolidated Retirement System is the retirement plan that covers employees of the State of Tennessee, public colleges and universities, and public elementary and secondary schools. TCRS retirement benefits are computed under a formula which uses the average of the member's highest five consecutive years of salary (while a member of TCRS) and the years of service credited in TCRS. The member makes no contributions to the plan. Employees participating in TCRS are vested after 5 years of service. You may project your TCRS benefit.
- Forms
To participate in TCRS or ORP - TCRS Membership Form (list one beneficiary only)
ORP Retirement Program
All contributions made to the Optional Retirement Program are 100% vested from the date of contribution. The member makes no contributions to the plan. ORP retirement benefits are based on the member's account balance and the member's age at the time benefits begin. You may choose from one or more of the three investment companies:
- ING Aetna (local representative is Jim Gilbertson 423-842-6689)
- TIAA-CREF (representative is Andrew Hall 866-842-2336 ext 6405)
- AIG Retirement (local representative is Ken Spann 423-238-7618)
Forms
