State University System Optional Retirement Program (SUSORP)
The State University System Optional Retirement Program allows participants to decide how to allocate the money in their account among available investment funds. The benefit depends on the amount of money contributed and its growth over time.
Eligibility
- TEAMS Exempt (Salaried)
- Law Enforcement (Salaried)
- Faculty (Health Science Center Faculty are required to participate in the SUSORP)
Enrollment for New Employees
- College of Medicine and Health Science Center faculty:
- All other employees:
- Execute a contract with a SUSORP investment provider.
- Fax a completed ORP Enroll Form to UFHR Benefits at (352) 392-5166 within 90 calendar days from hire.
- You may email the form to benefits@ufl.edu instead, but omit your SSN if you do.
Contribution Rates
- Employer: 5.14%
- Note: Employers also pay Admin/UAL fees to State of Florida. Therefore, the employer contribution you see on your paychecks will be higher than the amount deposited into your account.
- Mandatory Employee: 3.00% of biweekly earnings
- Voluntary Employee: Up to 5.14% of biweekly earnings
You may change your investment provider and add or manage voluntary SUSORP contributions by faxing a completed ORP Change Form to UFHR Benefits at (352) 392-5166. Please note that if you change your provider, you will need to execute a contract with your new one.
IRS Contribution Limits
The contribution limits for this plan are based on our fiscal and calendar years. Visit the Retirement Plan Contribution Limits page for the current year’s maximums.
Resources
Loans/Hardship Withdrawals
Loans and hardship withdrawals are not permitted.
Update My Beneficiary
Contact your investment provider to update your beneficiary information.
Ready to Retire?
Visit our Ready to Retire page for more information.