Aug 13, 2026BoardMeeting
BoardOptional Retirement Plan (ORP) Task Force Minutes
The task force reviewed statutory and constitutional constraints regarding retirement legislation and analyzed prior reports from the Legislative Auditor concerning contribution rates and the risks associated with transferring ORP participants to defined benefit plans. The Board of Regents provided an overview of prior task force recommendations, and members examined a comparative analysis of retirement outcomes between the ORP and defined benefit models. The remainder of the session focused on establishing a meeting schedule, developing a methodology for action steps, and addressing data availability and modeling challenges for future study items.