The Texas Optional Retirement Program (ORP) is designed for full-time faculty at state-supported institutions of higher education. Created by the Texas Legislature in 1967, it is offered as an alternative to participation in the Teacher Retirement System of Texas (TRS). Upon employment at an institution, an employee is given 90 days to choose whether to invest his or her retirement fund in ORP or TRS. This choice is irrevocable. Therefore, new employees are urged to make this decision carefully.
Though we do not endorse or favor any particular plan, we hope the following reports and links will aid you in your discernment process.
Perusing personal retirement sites and online tools can help aid you in getting to know a company, investigate fund performance, and learn about your options (a few of which are listed below).
Morningstar (free registration required)
Five Things to Know About Asset Allocation – The Motley Fool
How Much Do I Need to Retire? – Investopedia
Roth IRA Calculator – ThriveNT
Financial Literacy in the Black Community – Annuity.org
Estate Planning – traviswalkerlaw.com
401K Average Rate of Return – SoFi
401K Retirement Calculator – BankRate
How Much Is Your 401(k) Match Really Worth? – The Motley Fool
What Happens to Your 401(k) When You Leave Your Job – US News
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