Enrolling in the Tennessee Optional Retirement Program (ORP)University of Tennessee 403(b), or Tennessee Board of Regents 403(b) Plan is simple, but investing for your life goals requires you to be informed. To help guide you through the enrollment process, please contact a local representative.

Before enrolling in either plan, you should:

  • Understand the plan features
  • Review the investment options offered
  • Understand the investment option performance

There are two ways you can enroll:

  1. Meet with your Voya® local representative.
    Make an appointment with a local representative to enroll in a plan. When you meet with your representative, you can develop an asset allocation model to illustrate your investment and retirement objectives, discuss your contribution amount to the plan(s), select investment options, and designate the beneficiaries for your plan benefits.

  2. Online enrollment.
    Online enrollment is a quick and easy process. You can complete the enrollment process online, including selecting your investment choices and designating beneficiaries, by selecting the “Enroll Now” link on this page. While enrolling online, you will be offered electronic copies of a participant disclosure booklet, investment fact sheets, and other documents we are required to provide at enrollment. . If you would prefer to review a hard copy of these materials or have any questions or concerns about the enrollment process, please contact a local representative.

You should consider the investment objectives, risks, charges and expenses of the investment options offered through a retirement plan carefully before investing. Fund prospectuses and an information booklet containing this and other information can be obtained by contacting your local representative. Please read all information carefully before investing.

Mutual funds under a trust or custodial account agreement are intended to be long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59½, an IRC 10% premature distribution penalty tax will apply, unless an IRS exception applies. Account values fluctuate with market conditions, and when surrendered, the principal may be worth more or less than the original amount invested. A group fixed annuity is an insurance contract designed for investing for retirement purposes. The guarantee of the fixed account is based on the claims-paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. Money taken from the plan will be taxed as ordinary income in the year the money is distributed. An annuity does not provide any additional tax benefit, as tax deferral is provided by the Plan. Annuities may be subject to additional fees and expenses, to which other tax-deferred funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.

Neither Voya nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.