Employee Retirement

For New Employees

Day one: Choose between the ORP and TCRS

Faculty and staff exempt from the Fair Labor Standards Act must choose between the ORP and membership in TCRS upon their first day of employment. If you do not make an election, or if you are not exempt, you will be automatically enrolled into the TCRS Hybrid Plan. Watch the below video for more details.

• Retirement Plan Options

  Mandatory Participation For Full-Time, Regular Employees:

   

  • Non-Exempt Employees Must Participate In:

    • Hybrid Retirement Plan for State Employees and Teachers 
      
      • TCRS and 401K 
    • Supplemental 401(k)
      • Employees are auto-enrolled at 2%, but they can opt out after first payroll.

  • Exempt Employees May Choose Between: 

    • Hybrid Retirement Plan for State Employees and Teachers
      • TCRS and 401K
    • Supplemental 401(k) 
      • Employees are auto-enrolled at 2%, but they can opt out after first payroll.

  OR
  

  • • Optional Retirement Program (ORP), which is a Defined Contribution 401(a) plan.
      • TIAA and Voya are the vendors
    • Supplemental 401(k) 
      
      • Employees are auto-enrolled at 2%, but they can opt out after first payroll.

  *Exempt employees who make no retirement plan election will be enrolled in TCRS Hybrid as a default.

• TCRS/ORP Enrollment Forms

  TCRS/ORP Enrollment  Forms

   

  TCRS:

   

  Both forms required for enrollment in TCRS.

  • Notice of Participation in TCRS Form
  • Active Member Change of Beneficiary Form

  ORP:

   

  Both forms required for enrollment in ORP.

  • Notice of Participation in TCRS or ORP Form*
  • ORP Contribution Specification Form

   

  *Exempt employees must complete a Notice of Participation in TCRS or ORP Form regardless of which retirement plan is selected.

• 401(k)/457 Plan Enrollment

  401(k)/457 Plan Enrollment

   

  When a new employee is included on the payroll file which is sent to Empower Retirement, a Welcome Letter is sent via USPS to the address of record.  In the case of employees who are TCRS Hybrid Plan Members, participating in the State’s 401(k) Plan, an Auto Enrollment Welcome Letter is sent.  These letters offer the below-referenced information so that they may elect to either enroll, change, or opt out of plan participation. 

   

  • Visit retirereadytn.gov and select “Log in to your 401(k)/457 account”.  

  
  1. Register your account.  This is the preferred method in that you, the employee, take ownership of the account(s) and are able to set up multifactor authentication and security questions.  

  2. Enroll in the plan, designate a deferral percentage or amount, make investment elections, and select a beneficiary.
   

  • Contact the dedicated RetireReadyTN Call Center at 800-922-7772.

  
  1. Speak to a representative,

  2. Validate your information on file to confirm your identity, and then

  3. The representative will be able to assist you with designating a deferral percentage or amount, making investment elections, and selecting a beneficiary.

  Please be advised Empower is encouraging all employees enrolling into the 401(k) and/or 457 Plans or making changes to their account to utilize the above options on an ongoing basis.

   

   

For Current Employees

Have questions about your retirement account? Ready to Retire? Visit the Retire Ready Tennessee website for more information or to schedule a one-on-one consultation with your retirement plan advisor. Don't forget to update your beneficiaries for your insurances and retirement.

Retirement need not mean the severance of ties to the university and colleagues. The ETSU Retirees Association (ETSURA) provides the opportunity to continue a meaningful relationship with the university and with other retirees.

All retired employees and their spouses and spouses of deceased employees are eligible for membership in the ETSU Retirees Association. Former employees with five or more years of service at the university who are retired from other institutions or businesses are also eligible for membership with their spouses. Visit the ETSURA website to learn about other great benefits ETSU retirees enjoy.

Eligible employees enjoy many other 'perks' after retirement including education assistance and access to campus services. Learn more on the Retirement Benefits webpage.

• Questions about Your Plan?

  • How do I contact my Retirement Vendor?

    • Empower (401K and 457)

      

      Empower
      (800) 922-7772
      participant_services@empower-retirement.com

    • TIAA

      

       

      Please utilize the link below to schedule a virtual appointment with your TIAA representative. Be sure to select the "Schedule" option under the Virtual Consultation menu.

      East Tennessee State University Virtual Meeting Schedule

      Timothy Tubbs 

      (865) 347-5011

      Timothy.Tubbs@tiaa.org

       

      Establish your TIAA account online.

    • Voya

      

       

      Email  VoyaTN@Voya.com

      Phone (866) 776-6704 x 2

      Schedule a virtual appointment with a Voya representative here. 

    • Retire Ready TN

      Get a complete picture of your retirement readiness by meeting with your RetireReadyTN Plan Advisor. In your one-on-one meeting, your Plan Advisor will look at your overall financial picture and provide customized recommendations tailored to help you achieve your personal retirement goals. If you plan to retire in the next three years, consider requesting a Retirement Counseling session.

      Tim Crawford
      (423) 341-3088
      tim.crawford@empower-retirement.com

      Tim Crawford is available for virtual appointments.  Please click here to schedule an appointment.

    • Tennessee Consolidated Retirement System (TCRS)

      Contact TCRS
      (800) 922.7772 (Main line)
      (800) 766.4952 (TDD)
      TCRS.CustomerSupport@tn.gov

       

      TCRS Members may create an account via the TCRS self-service portal.

    • Valic [now Corebridge Financial]

      This vendor is no longer accepting new ORP or 403b enrollments as of August 2022.

      Mike Middleton

      mike.middleton@corebridgefinancial.com 

     

  • How can I save more for retirement? 

    An employee cannot change their contribution rate into their primary retirement account (either TCRS or ORP).  The treasury at the State of TN has set the employee’s contribution rate and ETSU’s contribution rate for the primary retirement account.

    If you would like to save more for retirement, there are several ways to accomplish this. 

    You can contribute more into your 401k.  You can enroll or change your contribute rate by logging in online  or by calling Empower at (800) 922-7772.  Remember that ETSU will match the first $50.00 per month that you contribute voluntarily into your 401k.
     
    You can ask Voya or TIAA to open a 403b account on your behalf.  The 403b and the 401k have a shared IRS contribution limit each year.  There are no matching dollars offered for the 403(b).  The 403(b) contribution form may be found on the payroll website.
     
    You can contribute to a 457b.  You can enroll or change your contribute rate by logging in online  or by calling Empower at (800) 922-7772.  There are no matching dollars offered for the 457(b).  Please review the Treasury Department’s 401k vs. 457b comparison chart

  • How do I change my beneficiaries?

    ETSU Designation of Beneficiary 

     

    ETSU requires the designation of a beneficiary for payout of last wages, annual leave and sick leave.

    Designation of Beneficiary Form

    This form should be returned to the Office of Human Resources via email to hr@etsu.edu. 

    Dynamic Form coming soon.

    Basic Life Insurance Beneficiary Designation Application

     

    You can update your beneficiary by using Employee Self Service in Edison at: www.edison.tn.gov.

     

    Voluntary Accidental Death Insurance Beneficiary Form 

     

    You can update your beneficiary by using Employee Self Service in Edison at: www.edison.tn.gov. 

     

    Securian Financial (Minnesota Life)--Optional Life Insurance

     

    1.       Log on to lifebenefits.com/stateoftn  with the ID and password provided below. You will be prompted to change your password the first time you log on.

    Your ID: The letters TN followed by your Edison ID number

    Your password: Your password is your eight-digit date of birth (MMDDYYYY) followed by the last four digits of your Social Security number.

    If you do not have access to a computer or the internet, a Minnesota Life Beneficiary Form may be submitted to the Office of Human Resources via email to hr@etsu.edu.  

    2.       Enter your information. Follow the instructions on the site to enroll for insurance coverage for you and your spouse and children if desired, and to designate/update your beneficiary. After submitting your information, please print a copy of your application for your records.

     

    TCRS Participants

     

    Change your beneficiary online through the Tennessee Consolidated Retirement System (TCRS)

     

    ORP Participants

     

    • Contact your ORP vendor. Vendor contact information can be found on the ETSU Retirement website
    • The contact number for TIAA is 1-800-842-2252 
      The contact number for VOYA is 1-800-584-6001.

     

    401k from Empower

     

    • Log into the Empower website - 401K Empower Beneficiary Change Log-in or call 1-800-922-7772.

     

    For questions please contact the Office of Human Resources at: hr@etsu.edu. 

  • How do I know which Retirement Plan I have?

    Check Goldlink Self-Service

    To check this now, simply visit the Employee tab in Goldlink and select "Employee Dashboard/Self Service". Expand the "Benefits" pane and select "Current Enrollment" then "Retirement Plans."

  • At what age am I Eligible to Apply for Retirement?

    It depends.

    TCRS Legacy members may apply for an unreduced retirement benefit at age 60 and vested OR at any age with 30 years of service.  Please click here to read more about TCRS Legacy. 

    TCRS Hybrid members may apply for an unreduced retirement benefit at age 65 or the "Rule of 90" in which your age and years of service add up to 90.  Please click here to read more about TCRS Hybrid.

    ORP members may begin drawing retirement subject to IRS requirements.  Click the links to read more about the Hybrid ORP or the Legacy ORP.

• For Separating Employees

  Employees who participate in the Optional Retirement Plan (ORP), 401(k), and/or 457(b) at ETSU are 100% vested in these retirement plans upon exit from ETSU.

   

  Employees who participate in the Tennessee Consolidated Retirement System (TCRS) become vested upon attainment of 60 months of service.  Employees who do not reach vesting while employed at ETSU can either leave their contributions in TCRS and pick up on their vesting schedule if they return to a TCRS employer within 7 years of leaving ETSU.   Or employees can withdraw their contributions from TCRS once they leave ETSU, but they would forfeit the ETSU employer match.  

For Those Considering Retirement

• How do I know which Retirement Plan I have?

  Check Goldlink Self-Service
  To check this now, simply visit the Employee tab in Goldlink and select "Employee Dashboard/Self Service". Expand the "Benefits" pane and select "Current Enrollment" then "Retirement Plans."
• At what age am I Eligible to Apply for Retirement?

  It depends.
  TCRS Legacy members may apply for an unreduced retirement benefit at age 60 and vested OR at any age with 30 years of service.  Please click here to read more about TCRS Legacy. 

  TCRS Hybrid members may apply for an unreduced retirement benefit at age 65 or the "Rule of 90" in which your age and years of service add up to 90.  Please click here to read more about TCRS Hybrid.

  ORP members may begin drawing retirement subject to IRS requirements.  Click the links to read more about the Hybrid ORP or the Legacy ORP.

• Am I eligible to continue health insurance in retirement?

  Contact Partners for Health
  Employees may contact Partners for Health to verify eligibility to continue insurance at retirement.  Partners for Health can be reached at (800) 253-9981; press 2 to speak to a Retirement Specialist.  The Retirement Specialist will review your service and your dependents to explain eligibility to continue insurance, premiums, and/or eligibility to purchase the TN Plan Medicare supplement. 
• Where can I learn more about insurance available to retirees?

  You can learn more about insurance available to retirees by visiting the Partners for Health Retirement page.  You will find premiums for retiree health, dental, vision, and the Tennessee Plan Medicare supplement.
• What happens to my Sick Leave at Retirement?

  It depends on your retirement plan.
  TCRS - An employee's remaining sick leave balance is reported to TCRS upon retirement.  TCRS credits the remaining sick leave balance as service toward the retirement plan.  The sick leave balance is not paid out in a lump sum.

  ORP - An employee's remaining sick leave balance may be credited toward service for the purpose of continuing insurance in retirement.  It is not reported to the ORP vendor, and the balance of sick leave is not paid out in a lump sum.

• What happens to my Annual Leave at Retirement?

  2 options

  
  Lump sum payout - Retirees have the option to receive a lump sum payout of their annual leave balance at retirement.

  Terminal leave - Retirees have the option to use their annual leave balance after their last working day until it is exhausted.  Employees may receive  pay for holidays that fall within the terminal leave period.  Retirement contributions and insurance deductions continue throughout the terminal leave period.  No new leave is accrued during the terminal leave period.

• Am I eligible to Receive Longevity before Retirement?

  You must be on payroll to receive longevity.
  If your longevity date falls during the terminal leave period, you will be eligible to receive the longevity payment.

  Academic faculty whose longevity date is at the beginning of the academic year and choose to retire after completion of an academic year are eligible to receive longevity. 

• How do I enroll in Medicare?

  You can enroll in Medicare online at Medicare.gov or by making an appointment at the Social Security Office.

• Who can I contact with Medicare questions?

  Tennessee Ship (TN SHIP) is a non-profit organization that provides unbiased information about Medicare to individuals.  TN SHIP may be contacted at (877) 801-0044 or by emailing tn.ship@tn.gov   Alternately, you may complete the contact form available on the TN SHIP website.

• Is there a class I can attend to learn more about my Medicare options?

   If you would like to review a recording of the 2023 class, please click here: ABCs of Medicare

• I want to enroll in the Tennessee Plan Medicare Supplement when I retire.  What form do I use?

  Upcoming retirees may complete the Application to Continue Insurance in Retirement and return it to the Office of Human Resources (or e-mail to HR@ETSU.EDU) before their last paid day at ETSU.