Printer FriendlyReporting Requirements for Annual Financial Reports of State Agencies and Universities
Notes & Samples
NOTE 9 – Defined Benefit Pension Plans and Defined Contribution Plan
Universities
University system offices and independent universities that administer the ORP as their defined contribution plan must disclose the amounts contributed by members and by the employer for that plan. The amounts reported in this note must match those sent from your institution to the Texas Higher Education Coordinating Board ORP coordinator.
Sample Disclosures for University Systems and Independent Universities’ ORP
The state established an optional retirement program (ORP) for institutions of higher education. Participation in ORP is in lieu of participation in the Teacher Retirement System and is available to certain eligible employees. Disclose the amounts contributed by members and by the employer for that plan for the fiscal year ended Aug. 31, 20CY:
| Contributions | Amount |
|---|---|
| Member Contributions | $ XXX.XX |
| Employer Contributions | XXX.XX |
| Total | $ XXX.XX |