Show More


Retirement

Eligibility for retirement and continuation of group health insurance coverage is determined by the employee’s age and years of continuous full-time employment with the University. Employees will be considered eligible when the criteria in one of the following options is met. There is no continuation of group health insurance if an employee was hired on or after January 1, 2013. 

Option A: Employees may continue group health insurance at the retiree rate if by the retirement date they

  • are at least age 55 years, and
  • have completed at least 15 years of continuous full-time employment, and
  • have a combination of age and years of continuous full-time employment that totals at least 80.
  • were hired prior to January 1, 2013.

OR
Option B: (Available only for employees hired prior to July 1, 1996): Employees may continue group health insurance at the retiree rate if by the retirement date they

  • are at least age 62 years, and
  • have completed at least 15 years of continuous full-time employment.

OR
Option C: (Available only for employees hired in a full-time, benefit status position prior to July 1, 1996): Employees may continue group health insurance by paying full cost of the benefit if by the retirement date they

  • are at least age 62 years, and
  • have completed at least 5 years but less than 15 years continuous full-time employment.

Dependent/Domestic Partner Coverage

  1. Group health insurance may also be continued for eligible dependents and same-sex domestic partners insured at the time of retirement.
  2. Retirees may terminate group health insurance coverage for an eligible dependent or same-sex domestic partner at any time but may not add new dependents or same-sex domestic partners.

Procedures

  1. The employee who elects to retire must submit a letter of retirement, which includes the retirement date to his/her supervisor. A copy of the letter must be forwarded to Human Resources.
  2. The employee considering retirement should contact the Social Security Office six months prior to the planned retirement.
  3. The employee who has participated in a University-sponsored retirement plan should contact the carrier six months prior to the planned retirement to discuss options for distribution of funds.
  4. The Human Resources Staff is available to assist the employee in the transition from active employment status to retirement. Employees are encouraged to contact Human Resources to discuss benefits (i.e., Health Insurance, Life Insurance, Retirement Plan) and any other questions regarding retirement.