Optional Retirement Plan

• Am I Eligible to Retire?

  You can access all the funds in your account, including employee and employer contributions, at age 59½. You can do this even if you are actively working and contributing to the plan.

  For an estimate of your retirement annuity, consult your ORP Provider Financial Advisor.

• How to Proceed if You are Eligible and Ready to Retire

  Retirement Counseling:

  Contact your ORP Provider Financial Advisor to schedule a pre-retirement counseling session.

  Contact PEBA for information regarding your retiree insurance options. Schedule your appointment with PEBA.

  ORP members may use the Applying for Service Retirement Checklist as a guide to assist through the service retirement application process.

  Health Coverage:

  Applying for the State Retiree Insurance: Enrollment in the state retiree insurance coverage is not automatic. Before enrolling in retiree insurance, you must confirm your eligibility by completing the Employment Verification Record (PDF).

  Send the Employment Verification Record to PEBA Insurance at 202 Arbor Lake Drive, Columbia, SC 29223 up to six months prior to your anticipated retirement date. Determination of eligibility comes from PEBA (SC’s Public Employee Benefits Authority) and will be sent to you in writing via the U.S. Postal Service.

  Enrolling in Retiree Insurance: Upon confirmation of eligibility, complete the Retiree Notice of Election form (PDF) and Certification Regarding Tobacco or E-cigarette Use (PDF). Send the forms to PEBA Insurance at 202 Arbor Lake Drive, Columbia, SC 29223 within 31 days of your retirement date.

  Enrolling in Medicare: If you are 65 years or older, contact your local social security office to determine how to sign up for your Medicare options.

  Notify Your Department:

  Complete the Notice of Resignation or Retirement Form (PDF) and submit to your supervisor for acknowledgment.

  Once you submit the Notice of Retirement, your decision to retire cannot be rescinded unless authorized by the Chief Human Resources Officer.

• Additional Information

  Annual Leave Payout:

  Employees in regular full-time equivalent (FTE) positions and temporary time-limited positions may receive a lump-sum payment for unused annual leave not to exceed 45 days on your final paycheck.

  Access Kronos to review your annual leave balance.

  Deferring Annual Leave Payout for Tax Savings: Set aside payout funds in a Supplemental Retirement Account (SRP) for tax saving purposes. Contact one of our approved Supplemental Retirement Account providers to open your account.

  • To defer a 401(k) or 457(b) account, complete the Annual Leave Worksheet (PDF) and submit to empins@clemson.edu.
  • To defer a 403(b) account, complete the request for reduction in salary form (PDF) and submit to empins@clemson.edu.

  Donate to the Leave Pool:

  An eligible faculty or staff member may donate up to one-half of the annual or sick leave earned within a calendar year to the appropriate leave pool. Learn more about the Leave Transfer (Pool) Program by visiting the Leave Donation webpage. All donations must be finalized prior to separation of employment.

  Supplemental Retirement Account:

  If you contribute to a 401K, 457(b) or 403(b) account, contact your SRP provider financial advisor for assistance with distribution options.

ORP Retirement Support:

• PEBA

  PEBA offers assistance with:

  • Retiree insurance options
  • Employment Verification Forms
  • Retiree Notice of Election Forms

  Email or Phone Consultations

  PEBA’s Customer Contact Center is available to provide full services to its members from 8:30 a.m. ET until 5:00 p.m. ET, Monday through Friday.

  Contact PEBA

  Video Consultations

  Video consultations are a good option if you have questions related to PEBA-administered benefits that have not been resolved over the phone or through email.

  Schedule an Appointment

• ORP Financial Advisors

  ORP Financial Advisors offer assistance with ORP account annuity, distribution options and other aspects of your account.

  Contact ORP Providers

• Social Security Office

  Contact your local social security office for assistance with Medicare enrollment and other Medicare related questions.

  Submit request for employment information (CMS-L564) to empins@clemson.edu.