A former SPA employee who elects to convert to exempt SAAO status, under I.A.,
above, and who holds a permanent three-quarter time or more position within the
University, has 30 days from the effective date of his or her election to convert to SAAO
status to enroll in the ORP.
Other incumbent employees, under I.B., above, must elect to enroll in the ORP by
no later than March 31, 1999.
The process for electing ORP is effected by doing both of the following:
The senior officer completes an “Election of Optional Retirement Program The
University of North Carolina,” Form ORP-1A. 
The institutional representative transmits this
form to the State Retirement System, with a copy sent to the Office of the Associate Vice
President-Finance and University Benefits Officer, UNC General Administration.
The senior officer completes an ORP enrollment form, that is submitted to the
appropriate ORP carrier(s) through the institutional representative.
If the employee elects to withdraw his or her TSERS contributions, he or she must complete an
“Application for Refund of Retirement Contributions,” Form 5. This form is sent to the State
Retirement System, through the institutional representative, and should include (1) the name of
the IRA sponsor (usually a financial institution) or ORP carrier or other qualified plan carrier
(such as the ORP) to whom the refund check should be made payable, (2) the employee’s
address,and (3) his or her account number if the employee elects to have a direct rollover. (The
payment is actually sent to the employee for transmittal to the appropriate sponsor or qualified
augmented on January9, 1998 and November 13, 1998).
