Skip to main content

You are here

Practice Management

Retirement from Optional Retirement Plans

Q. Once an employee in Texas retires from an optional retirement plan (ORP) or the teacher retirement system (TRS) (college market), she or he is never allowed to participate in the system again. Is this mitigated by an employee reaching age 59½?
 
A. For ORP, the answer may be a little different. Currently, as you point out, there are separate definitions of “retirement” under state law. So yes, it is age 59½ that is the issue…at least for now. It is unclear how this will be handled under the new 403(b) pre-approved plan documents; we are working to find out.