Retirement and Retiree Benefits

The University values the dedication, service, and contributions of its employees throughout their careers. As you embark on the next chapter of your life in retirement, we are here to support you during this important transition. To make the retirement process as smooth as possible, please review the checklist below and complete the necessary steps. We highly recommend reaching out to our Benefits team at [email protected] to schedule a retirement information session with one of our knowledgeable Benefits Specialists.

Retirement Checklist

Submit written notification of your retirement to your department and the Office of Human Resources Management at least 2 months prior to your retirement date. Faculty members should also notify their Dean and the Office of the Provost.
Schedule a retirement information session with the Benefits team. During the session, please inform them if you or your dependents are eligible for tuition remission benefits or plan to avail of them in the future.
Contact TIAA and/or Fidelity, your retirement plan carriers, at least 2 months before retirement to discuss withdrawal options and procedures.
If you are 65 years or older, it is mandatory to enroll in Medicare Part A & B for enrollment in the University's 65+ retiree Medicare Advantage Plan. Contact the Social Security Administration at 800-772-1213 at least 90 days before your retirement to enroll in Medicare Part A & B and obtain information regarding Social Security payments.
If you are under the age of 65 at the time of retirement, please contact Social Security at least three months before your 65th birthday to enroll in Medicare Part A & B. It's important to note that once you turn 65 years of age, you will need to be enrolled in Medicare Part A & B in order to enroll in the University's 65+ retiree Medicare Advantage Plan.
To ensure a smooth transition and timely enrollment in the desired retiree benefits, please complete and submit your Medical Plan Election Form << HYPERLINK>> for Retirees to the Benefits team at [email protected] as soon as possible. This form provides the Benefits team important information for enrolling you in the retiree benefits of your choice.
Review your FSA, Transit, and Parking benefits and submit any reimbursement claims for expenses incurred before your retirement (you must submit these claims for reimbursement before March 31 of the year following your retirement.)
Please note that if you retire at the age of 65 or older, Medicare will be your primary medical coverage and you will be responsible for making premium payments for Medicare Part B.

Retiree Benefits

The University provides the following benefits to eligible retirees:

Medical Insurance – The available plan options depend on your age and, if applicable, the age of your eligible dependent(s). A summary of the available plan options is provided below. For more detailed information, please refer to the Summary Plan Description (SPD) for the retiree medical plan. To obtain a copy of the plan description, please contact the Office of Human Resources Management at [email protected].

Local 153 and Local 810 members must also refer to their respective collective bargaining agreements for specific information regarding retirement benefits and any additional provisions that may apply to them.

Coverage For	Age Group	Plan Eligibility
Retiree only	Under 65 years*	Active employee medical plan
Retiree only	65 years or over	Medicare Advantage Plan
Retiree and Dependent	Retiree and dependent under 65 years*	Active employee medical plan
	Retiree under 65 year*, dependent 65 years or over	Retiree: Active employee medical plan Dependent: Medicare Advantage Plan
	Retiree 65 years or over, dependent under 65 years*	Retiree: Medicare Advantage Plan Dependent: Active employee medical plan
	Retiree and dependent 65 years or over	Medicare Advantage Plan
* Member enrolled in active employee plan is not eligible to continued enrollment in the active employee plan upon reaching 65 years of age. However, you and/or your dependent have the option to transition to the Medicare Advantage plan.
Cost share: Faculty and Administrator a) Active employee medical plan: Same cost share as applicable for active employees. b) Medicare Advantage Plan: 44% of the Medicare Advantage plan premium (each enrolled member.) For employees retiring after December 31, 2026, 55% of the premium (each enrolled member.) Cost share: Local 153 and Local 810 a) Active employee medical plan: 100% of the active employee medical plan premium. b) Medicare Advantage Plan: 100% of the Medicare Advantage plan premium (each enrolled member.) For employees retiring after December 31, 2026, 55% of the premium (each enrolled member.)

Group Life Insurance - The coverage amount is determined by your age and employee category, as summarized below. The coverage is provided by the University at no cost to the retiree.

Employee Category	Age Group	Life Insurance Coverage
Faculty and Administrators	62 – 64.9 years	100% of annual salary at the time of retirement up to a maximum of $50,000.
	65 – 69.9 years	70% of annual salary at the time of retirement up to a maximum of $50,000
	70 years or over	$6,000
Local 153 and Local 810	62 – 69.9 years	$7,500
Local 153 and Local 810	70 years or over	$2,000

Tuition Remission – Faculty and Administrators are eligible for the same tuition remission benefits they would have received if they had continued their employment. Please refer to the Tuition Remission Policy for more details.

Note: Dental and Vision Insurance are available to retirees in accordance with the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA) for a limited period of time.

Eligibility for Retiree Benefits

To be eligible for retiree medical insurance, life insurance, and tuition remission benefits you must be at least 62 years old and have completed a minimum of 10 years of full-time service with the University.