Retirement Plan Overview

State of Tennessee Hybrid Plans (TCRS and ORP)

Effective July 1, 2014

Legislation has been enacted to create a new Hybrid pension plan for state employees, Higher Education and K-12 teachers hired on or after July 1, 2014.

Employees hired 6/30/2014 or before are not affected by these changes.

The state of Tennessee Retirement System offers two Hybrid retirement plans. As a condition of employment all full time employees (40 hours per week) must participate in the retirement; Non-exempt employees are automatically enrolled in the Tennessee Consolidated Retirement System (TCRS)-Hybrid plan. Exempt staff and faculty have the option to elect either the TCRS-Hybrid or Optional Retirement Plan (ORP)-Hybrid. Participation will be optional for regular, part-time employees (less than 40 hours per week).