The Optional Retirement Plan (ORP) is a mandatory retirement plan for faculty and professional staff administered by Fidelity Investments. Employees are immediately vested in both their contributions and the university’s contributions upon enrollment. For more information, visit Fidelity’s NetBenefits Idaho or call (800) 343-0860.
Are You Vested in PERSI?
If you’re a faculty or professional staff member who is vested in PERSI (i.e., you have at least 60 months of service to the State of Idaho) before your hire at Boise State, you may opt to remain in PERSI. However, you must contact the Benefits Team at (208) 426-4429 to ensure that your retirement plan selection is processed.
Contribution Rates
Both you (the employee) and Boise State (the employer) contribute a percentage of your salary toward your retirement. These contribution rates are determined by the State of Idaho and are automatically deducted from your paycheck.
- Employee Contributions: 6.97% of your salary
- Employer Contributions: 9.27% of your salary
These contribution rates are fixed and cannot be changed. However, Boise State offers optional Supplemental Retirement Accounts to help you build additional retirement savings.
Disability Protection
The University purchases a retirement deposit protection policy from The Standard Insurance. In the event of an approved disability absence of six or more months, this policy ensures that retirement contributions continue to be made to your account while you are on disability. Your paycheck will show the University’s contribution for this coverage under the label ORP Disability 2.