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Ready to Retire - ORP Track

ORP Retirement Plan

ORP is a defined contribution plan that is similar to a 401(k) plan with employer "matching" contributions. ORP retirement benefits are based on the accumulated amount of funds in the participant's ORP account (no age/service formulas). ORP participants become eligible to take funds out of the plan upon termination of all employment with all Texas public institutions of higher education. Participants who are still employed become eligible to take funds out of the plan at age 72.

happy retired couple with grand kids

Retirement Checklist

Financial Component

 

 

 

Benefits Component

 

 

  • Review ERS Retiree Insurance Eligibility to determine retiree insurance eligibility.
  • Complete the ERS Retiree Insurance Enrollment Form 2 months from retirement date by contacting your local HR.
  • Visit the ERS website for additional information.
  • Review Medicare and State Health Insurance information.
  • Ensure that you enroll in Medicare Part A + B at age 65.

 

Retirement Information Resources

 

 

  • Attend a Planning Ahead for Retirement workshop offered at various LSC campuses.
  • Attend a Preparing for Retirement workshop (facilitated by LSC).
  • Confirm/update your personal info (address, email, and emergency contact) in MyLoneStar.

 

Contact Information

ERS Medical Benefits

Employee Retirement System of Texas
www.ers.texas.gov
877.275.4377

TRS Financial Benefits

Teachers Retirement System of Texas
www.trs.texas.gov
800.223.8778

ORP Financial Benefits

Optional Retirement Program
If you have ORP, contact your ORP agent.

Lone Star College

Benefits Department
LSC-Benefits@Lonestar.edu
832.813.6767
Fax#: 832.813.6740
5000 Research Forest Dr
The Woodlands, TX 77381

Medicare

www.medicare.gov
800.633.4227

Social Security Administration

www.ssa.gov
800.772.1213

Disclaimer: Lone Star College staff do not represent the retirement plans, health care systems, nor are they licensed financial advisors. The participant is responsible for researching and speaking directly with the entity for information as related to the participant's concerns. The contents herein are for informational purposes only.

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