Welcome to the Tennessee Optional Retirement Program Website
Investing for retirement requires a good plan and the discipline to follow it, but there are several options available. Voya Financial™ is one of your choices for the Tennessee Optional Retirement Program (ORP) -- a retirement program available to employees of the state's public higher education system as an alternative to the Tennessee Consolidated Retirement System (TCRS).
To offer you simple access to information about the ORP, we have developed this custom website that allows you to access your account information and make account transactions. It will also provide you with comprehensive plan information, and investment and retirement planning educational materials. Just click on the links at the top of the page to change the menus that appear on the left side bar.This website is only one of the methods for you to receive information about the ORP and your account. Other services available include:
- One-on-one meetings on a variety of issues, including enrollment, investment principles, and distribution planning
- Investment education tailored to individual learning needs
- Toll-free access to a customer information center and 24-hour automated voice response unit; Customer Service is available Monday - Friday 7:00 a.m. - 8:00 p.m. (Central Time)
- Timely and detailed quarterly account statements
- Informative newsletters
- Dedicated representatives
If you have any questions about the Tennessee ORP or Voya™, please feel free to contact our Tennessee regional office at (866) 776-6704.You should consider the investment objectives, risks, charges and expenses of the mutual funds offered through a retirement plan carefully before investing. Fund prospectuses containing this and other information can be obtained by contacting your local representative. Please read all information carefully before investing.
Please note: Prior to July 2010, a variable annuity contract (VA) was used as a funding vehicle for the program. Any existing cash values in the VA prior to July 2010 may remain in the VA. However, current and future contributions are now applied, according to participant election, among mutual funds that are available through a trust agreement and also the Voya Stable Value Fund option.Mutual funds under a 401(a) trust agreement are intended as long-term investments designed for retirement purposes. Mutual fund values fluctuate with market conditions, and when surrendered, the principal may be worth more or less than the original amount invested. The Plan's Stable Value Option invests in the Voya Stable Value Fund, which is a collective investment trust maintained by Wilmington Trust Company. The Plan's Stable Value Option is backed by a group annuity contract issued by Voya Retirement Insurance and Annuity Company ("VRIAC"), which guarantees that the return on the Plan's Stable Value Option will not be less than 0%. The net crediting rate is declared quarterly. The initial net crediting rate will be determined based on market conditions within 30 days of the contract funding date. Guarantees are based on the claims paying ability of Voya Retirement Insurance and Annuity Company. The Plan's Stable Value Option, the Voya Stable Value Fund and the VRIAC group annuity contract are not registered investment companies and are not registered with the Securities and Exchange Commission. Although it is possible to have guaranteed income for life with a fixed/variable annuity, there is no assurance that this income will keep up with inflation. Early withdrawals taken prior to age 59 ½ are subject to an IRS 10% premature distribution penalty tax unless an exception applies. Money distributed will be taxed as ordinary income in the year the money is distributed. An annuity does not provide any additional tax benefit, as tax deferral is provided by the Plan. Annuities may be subject to additional fees and expenses, to which other tax-deferred funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.
Neither Voya nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.
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