State University System Optional Retirement Program (SUSORP)
The State University System Optional Retirement Program (SUSORP) is a defined-contribution plan sponsored by the State of Florida available as an alternative to the FRS plans for faculty and qualified University Work Force staff Exempt employees. Each pay period, employees currently contribute 3.00% and the university will contribute a percentage of your earnings to an annuity plan. Employees may make additional contributions on a voluntary basis as permitted by the plan.
The program is intended to aid the university system in recruiting eligible employees by offering more portability to those employees who do not expect to remain in the system long enough to become vested in the Florida Retirement System (eight years). Your benefits are determined by the dollars in your account at the time of retirement.