You are immediately 100% vested in the value of your employee contributions. The value of your employer contributions is 100% vested after five years of participation in the ORP. If you terminate employment with less than five years of ORP participation, you will become 100% vested in the ORP employer contribution provided you meet all of the following requirements: 1) your new employer is a higher education institution that sponsors a substantially similar or "like" rettirement plan, 2) the successor plan offers a "like retirement plan" that is underwritten by one of the four carriers currently underwriting the ORP benefit, and 3) you begin participation in that successor plan as your "core retirement plan" within twelve months following your termination of eligible service in the plan (usually your termination of employment) with The University of North Carolina.