Enrolling in the ORP

The Louisiana ORP is offered to the faculty and staff of Louisiana’s public institutions of higher education as an alternative to the State Teachers’ Retirement System of Louisiana (TRSL).

Within 60 days of joining the Louisiana public higher education system, you’ll need to make an important decision concerning your retirement plan - whether to enroll in the TRSL or the ORP.

Note: An election to enroll in ORP is irrevocable and you will not be eligible for TRSL at any time after that. However, if you initially enroll in TRSL, you may change to ORP within five (5) years from your employment date.

Enrolling in the ORP requires the following steps:

1. Select an ORP vendor from the list of authorized companies

2. Decide whether to enroll with ING

3. Return the Application for Optional Retirement Plan or Change of Carrier (Form 16) to your college or university within the specified time frame

If you select ING, your enrollment process depends on the service option chosen (see below). See Service Options for details on the two service options.

Two ways to enroll with ING

Personal Retirement Planning Service

If you select the Personal Retirement Planning Service, you will have a one-on-one meeting with your ING representative prior to enrolling in the plan, which will include a retirement needs analysis and asset allocation assistance. You will fill out the paper enrollment form included in the Forms section of the enrollment book to enroll in the plan. Your ING representative can help you with the paperwork.

Personal Enrollment Service

If you select the Personal Enrollment Service option, you will enroll online rather than fill out the paper enrollment form included in the enrollment book. It’s easy to enroll online – see the instructions in the enrollment book to walk you through the process step-by-step. An ING representative is available if you want assistance enrolling.

You should consider the investment objectives, risks, charges, and expenses of the variable products and the underlying fund options carefully before investing. The contract and fund prospectuses contain this and other information. You may obtain a prospectus by contacting your ING representative or the Company at the address listed below. Please read the prospectus summary carefully before investing.

Variable annuities offered through a retirement plan are long-term investments designed for retirement purposes. Early withdrawals taken prior to age 59½ may be subject to an IRS 10% premature distribution penalty tax. Money distributed from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. Tax deferral is provided by your employer’s plan and the annuity does not provide any additional tax deferral benefit. Annuities may be subject to additional fees and expenses to which other tax-qualified plan funding vehicles may not be subject. However, annuities provide features and benefits such as lifetime income payments and death benefits which may be valuable to you.

Louisiana is a "community property" state. Under the Louisiana Civil Code, a spouse is entitled to 50% of any payout from a public or private pension or retirement plan, an annuity policy or plan, an individual retirement account, a Keogh plan, a simplified employee plan, or any other similar retirement plan.

Neither ING or 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.