Optional Retirement Plan for Political Appointees: Retirement Solutions Made Simple

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    Leaving Employment

    You do not have to take your money out of ORPPA when you retire or terminate employment. You can leave your money in the plan until you are age 70½, when you are required to take minimum distributions PDF icon. Keeping your money in your ORPPA account may provide you with potentially more cost-effective retirement opportunities than rolling your money into a traditional IRA.

    Why keep your assets in the plan? Several considerations are found in the Leaving Employment Guide PDF icon.

    Distribution Options

    ORPPA offers a variety of distribution options to suit your needs. Most distribution options can be changed at any time. You can obtain a Distribution Form online PDF icon or by calling toll-free 1-877-327-5261.

    Distribution options Include:

    • Full lump-sum distribution
    • Partial lump-sum distribution
    • Periodic payments (monthly, quarterly, semi-annually or annually)
    • Partial lump-sum distributions combined with periodic payments
    • Purchase of an annuity with all or a portion of the account balance
    • Roll over into an eligible retirement plan, such as a 401(a), 401(k), 403(b), governmental 457(b), traditional IRA or Federal Employees Thrift Savings Plan, that accepts such rollovers.*

    *An IRS penalty for withdrawals from these plans prior to age 59½ may apply. Check with the plan that you are rolling into to ensure it accepts such rollovers.

    Consolidation Options

    ORPPA accepts incoming rollovers of pre-tax money from other eligible retirement plans, such as a 401(a), 401(k), 403(b), 457(b), traditional IRA or Federal Employees Thrift Savings Plans, as long as you maintain a balance in the plan. Certain after-tax rollovers are permitted into ORPPA. However, balances from Roth IRAs cannot be rolled into the plan. For additional information on consolidation, contact your VRS Defined Contribution Plans Retirement Specialist.

    Account Access
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