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The University of Oklahoma Human Resources Website

A Look at Some Decision Factors

Choosing which track to take is a personal decision. Only you know which option best suits your needs now and in the future. To help you make your decision, review the considerations below. Note the statements that best describe your situation. Then take a look at the items you have chosen in each column to help you evaluate your thinking so far. In reviewing your answers, keep in mind that some of these considerations are more important than others—and you should do a careful analysis before making your election.

 

Indications that Track A is a good choice for you:

Indications that Track B is a good choice for you:

When it comes to making investment decisions:

I like the fact that under OTRS, my retirement benefit is not dependent upon investment choices that I must make.

I like to make my own investment decisions.

When it comes to saving for my retirement:

The idea of contributing 7% of my Total Compensation is a strategy I want to take.

I cannot afford to contribute 7% of my Total Compensation, even though I understand it would increase my retirement benefit.

When it comes to changing my retirement contributions:

I am very committed to making contributions and am not concerned about the need to reduce or discontinue them for any period.

I need the flexibility to start, stop, or reduce my retirement contributions if my financial situation changes.

Regarding my employment with OU:

I am planning to make my career at OU and stay until retirement.

I am working on a research grant or special project or will probably not stay at OU or an OTRS institution for the rest of my career.

When it comes to vesting:

I intend to stay at OU for five or more years.

I do not anticipate staying at OU for five years.

If I leave OU:

I would probably remain a non-participatory member and collect my accrued benefit when I reach age 62.

It is important to me to be able to receive a distribution of my retirement savings and invest them elsewhere.

I have participated in OTRS with another institution:

Yes, and I want to continue earning credited service that will increase the retirement benefits I have already earned under OTRS.

No.

I have other sources of retirement income:

No, so I need a retirement plan that provides a definite benefit formula.

Yes, and Track B is just one part of my financial plan for retirement.