UCF Mandatory Retirement Plans

    1. Florida Retirement System (FRS) Pension Plan 

      Eligible: A&P, Faculty and USPS

    2. Florida Retirement System (FRS) Investment Plan

      Eligible: A&P, Faculty and USPS

    3. State University System Optional Retirement Program (SUSORP)

      Eligible: A&P and Faculty

    4. FICA Alternative Plan (FAPLAN)

      Mandatory: Post-Doctoral Associates, OPS Non-Students, Adjunct Faculty and Medical Residents


 Decision Making Tools

Compares the FRS Pension Plan, FRS Investment Plan & SUSORP

Compares the FRS Pension Plan & FRS Investment Plan


New Hire Resources

Voluntary Retirement Plans

All employees have the option to contribute to a voluntary retirement plan:


Additional Voluntary Retirement Plan Resources

Loans & Hardships

*Note: Loans/Hardship Distributions are not permitted in the State University System Optional Retirement Program (SUSORP). They are only permitted in the voluntary 403(b) accounts, with the exception of 403(b)(7) accounts with Fidelity, T-Rowe Price & Vanguard.




ORP (Optional Retirement Program)

The SUSORP is a 403(b), Internal Revenue Code, qualified defined contribution plan that provides full and immediate vesting of all contributions submitted to the participating companies on behalf of the participant. Employees in eligible positions (Faculty and A&P filling line positions) are compulsory participants in the Optional Retirement Program during the first 90 days of employment. If the employee fails to execute the enrollment form ORP-Enroll, choosing SUSORP membership and a provider company during that 90-day period, the employee will be defaulted to FRS membership.

The University of Central Florida contributes on behalf of the participants an amount equal to 5.14% of the participant’s bi-weekly gross salary as required by law. In addition, effective July 1, 2011, each participant is required to contribute 3% of their gross salary. Participants may also contribute a voluntary amount up to 5.14% of their own salary, however they are not required to do so. The mandatory 3% contribution does not count toward any voluntary contributions. Please view the following state website for more information at


To Enroll:

  • Participants must submit a completed ORP-Enroll form accompanied by a completed application for an ORP provider(s).
  • Note: For College of Medicine Faculty members, the ORP-Mandatory form is required in lieu of the ORP-Enroll form.

To Make Changes to ORP Contributions: 

As a participant of the SUS ORP, you have several options available to you regarding the distribution of your employer-funded benefits. Keep in mind that in order to receive these benefits, you must be terminated from all employment with all Florida Retirement System employers.

Currently, the following options are available:

  1. A lump-sum distribution to the participant;
  2. A lump-sum direct rollover distribution to an eligible retirement plan, as defined in s. 402(c)(8)(B) of the Internal Revenue Code.
  3. Periodic distributions.
  4. A partial lump-sum payment.
  5. Such other distribution options as are provided for in the participant’s optional retirement program contract.

For more information regarding these options, as well as survivor and death benefit options, contact your ORP provider.

Note: These options, as well as all of the regulations governing the administration of the SUSORP, can be found in 121.35, F.S.

ORP Participating Companies

The five approved participating companies (and local representatives) with which participants must invest their ORP funds are:

  • AXA
    • Damon Basco: (407) 926-2539
    • Ravina Claussen: (407) 926-2553
    • Steven Pilling: (407) 926-2554
    • Joshua Schenker: (407) 926-2558
  • MetLife
    • Fazeela Ali: (407) 393-6632
    • Timothy Bol: (407) 393-6691
    • Salvatore Cino: (407) 333-3078
  • VALIC Retirement
    • Jacquie Bletzacker: (407) 375-2090
    • Jonathan Costanza: (407) 403-8747
    • Kelly Torresin: (407) 212-5003
    • Todd Chamelin: (407) 780-8989
    • Ann Adams: (321) 527-6153
    • Online Application
  • VOYA
    • Pat Tierney: (407) 252-3151
    • Nick Hill: (407) 470-2547
    • Rob Schultz: (407) 462-8751
    • Philip Grant: (407) 405-3608
    • John M. Billington, IV: (321) 245-2180
    • Eddie Corbett: (407) 341-2411
    • Dustin Riggs: (321) 277-3589


FICA Alternative Plan

The Omnibus Reconciliation Act of 1990 (OBRA 90) introduced into the law IRS Section 3121(b) (7) (f). As a result, temporary employees of a government entity may deposit money into a private retirement plan instead of Social Security. Under the UCF 401(a) FICA Alternative Plan participants contribute 7.5% of their compensation to an account in their name. Enrollment in the plan is mandatory and automatic for all OPS non-students, Medical Residents, Post-Doctoral Associates and Adjunct Faculty. Full-time student employees, Graduate Assistants, Graduate Teaching Assistants, Graduate Research Assistants, and employees holding dual compensation positions do not currently pay Social Security taxes and will not be enrolled in the plan.

Please be advised that the FICA Alternative Plan is considered to be a “tax qualified plan” for purposes of determining your ability to make before-tax contributions to an individual retirement account (“IRA”). If your total income (or, if married and filing a joint return, the total income of you and your spouse) exceeds certain levels you may not be eligible to make before-tax contributions to an IRA due to your participation in the FICA Alternative Plan. Accordingly, you may want to seek the advice of your individual tax advisor before making IRA contributions.

Effect of Plan Participation on Social Security Benefits

Benefits of the Plan

Contributions to the plan are made on a pre-tax basis. This is the least expensive way to save for retirement, and allows participants to accumulate a higher retirement benefit. Participants pay no taxes on their earnings or contributions in their accounts until retirement. Both UCF and participating employees permanently save the 6.2% Social Security tax. Any benefits which the participant has earned under Social Security or any other retirement plan will not be reduced by participating in this plan.

How The Plan Works

Participation in the plan is mandatory. Eligible employees will be automatically enrolled in the plan as of their first paycheck. Once a contribution has been made to the plan, the employee will receive an Enrollment/Designation of Beneficiary form and an introduction letter from TIAA CREF, the plan Administrator. The plan is funded with TIAA CREF’s Life Cycle fund. However, employees can opt to diversify their funds among other investment options with TIAA CREF.

Withdrawal Periods

Withdrawals from the plan may be made at the following times:

  1. Termination of employment
  2. Retirement
  3. After age 70 1/2 or retirement, if later, when the IRS requires minimum distributions be made to the participant each year
  4. Participant’s total disability
  5. Participant’s death

Withdrawals from your account may be made in a lump-sum cash payment (IRS 10% penalty on early withdrawals may apply) or plan balances may be rolled over to an IRA or other eligible retirement plan. No IRS penalty applies to these transfers.

Who is the Plan Administrator?

TIAA CREF (Teachers Insurance and Annuity Association, College Retirement Equities Fund) is the recordkeeping and administrative firm that specializes in qualified retirement plans. They offer a wide range of investment products and services designed to meet specific financial needs. For more information, participants can contact TIAA CREF at 1-800-842-2776 or by accessing their website at http://enroll.tiaa-cref.org/ucf/.

Bencor was the recordkeeping and administrative firm prior to April 13, 2007. These duties have been transferred to VALIC. For account information and distribution requests prior to this date, please contact VALIC at 1-800-448-2542 or visit their website at www.valic.com


Pre-Tax Investments

One way to meet long-term financial goals is to participate in tax-deferred programs that serve to supplement employer-sponsored retirement plans. The IRS defines the 403(b) and 457 plans that are available to all UCF employees as retirement plans. This designation brings with it specific rules regarding but not limited to loans, hardship distributions, rollovers, in-service distributions, and plan-to-plan transfers.

Given that 403(b) and 457 plans are designed for long-term planning, employees should consider alternative options to save for immediate needs.


Participating 403 (b) Companies

  • MetLife Investors
    • Fazeela Ali: (407) 393-6632
    • Timothy Bol: (407) 393-6691
    • Salvatore Cino: (407) 333-3078
    • George “Sandy” Couch: (813) 205-3186
    • Jeff Freiser: (813) 632-5120
    • Barbara A. Vaught: (813) 632-5153
  • VALIC Retirement (ROTH Option also available)
    • Jacquie Bletzacker: (407) 375-2090
    • Jonathan Costanza: (407) 403-8747
    • Kelly Torresin: (407) 212-5003
    • Todd Chamelin: (407) 780-8989
    • Ann Adams: (321) 527-6153
  • VOYA (ROTH Option also available)
    • Pat Tierney: (407) 252-3151
    • Nick Hill: (407) 470-2547
    • Rob Schultz: (407) 462-8751
    • Philip Grant: (407) 405-3608
    • John M. Billington, IV: (321) 245-2180
    • Eddie Corbett: (407) 341-2411
    • Dustin Riggs: (321) 277-3589
  • VOYA Reliastar
    • Phil Mendelson: (407) 249-4038
    • Sarah Nicolaides: (407) 312-3511
    • Alex Garcia (Se habla espanol): (407) 314-0110


457 Deferred Compensation

The 457 plan is administered by the State Office of Deferred Compensation; employees interested in more information may call 1-877-299-8002 or visit their web site at www.myfloridadeferredcomp.com.