There are normally two options available for retirement: Regular and Phased. During the window of February 6, 2015 through March 6, 2015, eligible employees were also able to apply for consideration for the Early Retirement Incentive Program.
You must be at least 55 years of age to be eligible for retiree benefits. If you leave the University any time after age 55, you are eligible for certain benefits. You must contact the Benefits Office for information. You should establish a retirement date with your department. Contact the Benefits Office at least six weeks prior to your retirement date to schedule an appointment to complete the necessary paperwork.
Phased retirement is an excellent benefit, however you must receive approval from your department and the appropriate administrative offices in order to participate. The request to enter the program may not be approved if it is deemed not to be in the best interest of the institution.
Early Retirement Incentive Program
From time to time, early retirement programs are approved as a tool to help the University address specific budget shortfalls.
To Learn More about Preparing for Retirement
Prior to your retirement, you may also want to consider attending the session on the financial considerations of Retirement. This UI "Preparing for Retirement" session is offered through the Benefits Office and UI Learning and Development.
The next sessions will be held:
Wednesday, September 30, 2015 1:00 pm - 5:00 pm
Thursday, April 14, 2016, 1:00 pm - 5:00 pm
To register for one of these sessions, sign on to your Employee Self-Service site and go to My Training. If you’d also like to have your spouse/partner attend, please email firstname.lastname@example.org to reserve a seat.