Employee Type
Retirement Plan
Regular, Non-Exempt Employees
Regular, non-exempt employees are required to join the Maryland State Pension System.
Regular, Exempt Employees
Maryland State Pension System, or
Optional Retirement Plan (ORP) with the choice of two managing companies:
OLD CONTENT BELOW:
- Choosing a Retirement Program: Highlights of the SRPS & ORP Retirement Programs
- State of Maryland Pension Plan
- USM Optional Retirement Plan
- Plan Provider:
- ORP Plan Document
- First Amendment to the ORP Plan Document
- Optional Retirement Program Handbook for Retiree Health Benefits for Employees Hired Before July 1, 2011
- Optional Retirement Program Handbook for Retiree Health Benefits for Employees Hired on or After July 1, 2011
- ORP Vendor Selection Form
- Retiring from the State of Maryland System for ORP Members, TIAA Presentation
- Maryland State Employees Supplemental Retirement Plans (MSRP)
- MSRP Agency Website
- Plan Provider:
- MSRP Plan Documents
- USM Supplemental Retirement Plans
Welcome to UMBC!
Regular, benefit-eligible UMBC employees (Exempt and Faculty) must select a retirement plan: either the MD State Retirement and Pension System retirement plan OR the Optional Retirement Program (ORP). Maryland State Law requires employees to make a retirement plan selection PRIOR to their first day of employment.
Steps for New Hire Retirement Selection:
- Review the Choosing a Retirement Program handbook.
- Review the Retirement Plan Comparison Chart and the additional resources at the bottom of this webpage.
- Complete and submit the Retirement Selection Form via DocuSign as soon as possible but at the latest by the hiring department’s deadline.
Employees should make this selection as soon as possible to avoid any delay in the start of their benefits.
The retirement plan selection is irrevocable. If new employees have questions about the retirement plan differences, please email hrbenefits@umbc.edu.
Please note: Regular Nonexempt employees should not complete the Retirement Plan Selection form. Nonexempt employees are required by MD State Law to enroll in the MD State Employees’ Pension system.