Provider Options

Use the chart below to compare each ORPHE provider’s available services and plan features.

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2020 Updates	No changes in 2020.	Fidelity is no longer a provider option for new hires.	The TIAA investment lineup will be updated for 2020. Details coming this fall.
Record Keeper	ICMA-RC	Fidelity Investments	TIAA
Services	DCP offers an economically priced fee structure with diversified investments to help public sector employees build retirement security. Investments are organized into three pathways, making it easier to implement your strategy. Count on the support of a local team of DCP Retirement Specialists focused on helping you meet your goals. Manage your account 24/7 with a suite of online and mobile-friendly tools and resources.	Fidelity offers a variety of self-service educational aids, including articles, tools and other online resources to assist with your planning needs; access to Fidelity representatives, who can provide information on enrollments, balances, contribution elections and other transactional and service-related requests; and web-based workshops on various educational topics. These online educational resources help build your knowledge and support your decision-making.	TIAA is here to help you achieve a lifetime of financial well-being. TIAA ranks #1 in assets among all financial firms serving higher education. As a full service financial organization, TIAA has local, dedicated financial consultants in Virginia to help you reach your short and long-term goals. TIAA annuities are managed at cost – we do not make a profit.
Investment Performance	View Now	View Now	View Now
Plan Administrative Fees See Performance & Fees for additional information.	$30.50 flat fee annually Details Details A record-keeping/plan administration fee of $2.54 will be deducted from your account on a monthly basis ($30.50/year). If you participate in more than one Commonwealth of Virginia (COV) defined contribution plan, like the COV 457 Deferred Compensation Plan or Virginia Cash Match Plan, only one annual fee of $30.50 will be deducted from your account. Additional fees may be associated with the self-directed brokerage account. Details A record-keeping/plan administration fee of $2.54 will be deducted from your account on a monthly basis ($30.50/year). If you participate in more than one Commonwealth of Virginia (COV) defined contribution plan, like the COV 457 Deferred Compensation Plan or Virginia Cash Match Plan, only one annual fee of $30.50 will be deducted from your account. Additional fees may be associated with the self-directed brokerage account. Close	$60.00 flat fee annually Details Details A record-keeping/plan administration fee of $15.00 will be deducted from your account on a quarterly basis ($60.00/year). The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. Additional fees may be associated with the self-directed brokerage account. Details A record-keeping/plan administration fee of $15.00 will be deducted from your account on a quarterly basis ($60.00/year). The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. Additional fees may be associated with the self-directed brokerage account. Close	$66.00 flat fee annually Details Details A record-keeping/plan administration fee of $16.50 will be deducted from your account on a quarterly basis ($66.00/year) from your Retirement Choice (RC) contracts. The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. If your account balance is less than $25 on the date a quarterly fee is to be assessed, no fee will be charged. Additional fees may be associated with the self-directed brokerage account. Details A record-keeping/plan administration fee of $16.50 will be deducted from your account on a quarterly basis ($66.00/year) from your Retirement Choice (RC) contracts. The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. If your account balance is less than $25 on the date a quarterly fee is to be assessed, no fee will be charged. Additional fees may be associated with the self-directed brokerage account. Close
Range of fees (All provider fees subject to change.) See Performance & Fees for additional information.	0.02% - 0.58% annualized	0.05% - 1.00% annualized May include investment and administrative expenses. Details Details A record-keeping/plan administration fee of $15.00 will be deducted from your account on a quarterly basis ($60.00/year). The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. Additional fees may be associated with the self-directed brokerage account. Details A record-keeping/plan administration fee of $15.00 will be deducted from your account on a quarterly basis ($60.00/year). The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. Additional fees may be associated with the self-directed brokerage account. Close	0.07% - 0.89% annualized May include investment and administrative expenses. Details Details A record-keeping/plan administration fee of $16.50 will be deducted from your account on a quarterly basis ($66.00/year) from your Retirement Choice (RC) contracts. The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. If your account balance is less than $25 on the date a quarterly fee is to be assessed, no fee will be charged. Additional fees may be associated with the self-directed brokerage account. Details A record-keeping/plan administration fee of $16.50 will be deducted from your account on a quarterly basis ($66.00/year) from your Retirement Choice (RC) contracts. The record-keeping/plan administration fee is prorated and may be reduced by revenue credits applied to certain investment options in the Plan. If your account balance is less than $25 on the date a quarterly fee is to be assessed, no fee will be charged. Additional fees may be associated with the self-directed brokerage account. Close
Number of Investments Available Target date fund series are treated as one option	11	12	11
Default Investment Option	Target Date Funds	Target Date Funds	Balanced Fund
Self-Directed Brokerage Account	Yes	Yes	Yes
Annuities Available as a Plan Distribution Option	Yes	Yes	Yes
Dedicated Plan Representatives Investment advice is not an authorized service for the ORPHE plan.	Yes	N/A	Yes

Note: If you are a new faculty member at The College of William and Mary; George Mason University; University of Virginia, including UVA at Wise and Southwest Virginia Higher Education Center; Virginia Commonwealth University and Virginia Tech, these institutions have opted out of the VRS-administered optional retirement plan (ORP) and offer an employer-administered ORP plan. Faculty members at these institutions do not have access to the compare and select plan features in myVRS nor the provider options and services indicated on this website.

Publications
Forms

Handbook for Participants in ORPHE Plan 1 and ORPHE Plan 2 Learn more about your plan, benefits and investments in the Optional Retirement Plan for Higher Education.

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Choose the Plan and Provider That’s Right for You As a new college or university president, chancellor or faculty member engaged in teaching, administration or research, you have a choice in retirement planning.

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State Health Benefits Program Enrollment Form for Retirees, Survivors and LTD Participants (T-20879)

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Designation of Beneficiary (VRS-2)

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Designation of Beneficiary - Continuation (VRS-2A)

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Request for Transfer of Funds to ORP (VRS-3ORP)

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Conversion of Group Life Insurance Enrollment (VRS-35E)

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Request for Health Insurance Credit (VRS-45)

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Notice of Return to Covered Employment Optional Retirement Plan Retiree (VRS-7ORP)

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Termination Certification Form – Optional Retirement Plan for Higher Education (VRS-65D)

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Optional/Alternative Retirement Plan Health Insurance Credit Employer Certification of Service (VRS-75)

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VRS Durable Power of Attorney (VRS-901)

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