Retirement

State University System Optional Retirement Plan (SUSORP)

Eligibility

The State University System Optional Retirement Program (SUSORP) is available to Administration and Faculty. Employees appointed to a Faculty position in the College of Medicine are required to participate.

Note:  Enrollment in this plan must occur within 90 days from the date of hire. 

Description of the Plan

The SUSORP is a defined contribution plan sponsored by the State of Florida. It is not a matching plan. Participants are immediately vested in the plan. The amount of your benefit at retirement is determined by the contributions made to your account and the performance of your investment choices. More information on SUSORP is available on the MyFlorida website.

The plan is funded through the following contributions:

Contributions are directed into an individual account, and you will be able to decide how to allocate the contributions among various investment funds.

Retirement Contributions are limited by the IRS. (More information.)

How to Enroll

Changes to Voluntary Contributions

How to Change SUSORP Vendors

SUSORP Loans and Hardship Withdrawals

There are no loan or hardship withdrawals available from SUSORP accounts.

How to Retire

  1. Contact your provider company to initiate a distribution/rollover from your Employer funded account.
  2. Complete the ORP-RETIRE form.
  3. Contact your HR Benefits Representative in your Service Center to schedule a retirement appointment.