5-7 Years Before Retirement

Start planning early to set yourself up for success.

• Confirm your eligibility to retire from the University.
• Meet with your retirement plan provider (IPERS or TIAA) to estimate your income and discuss payout options.
• Review your budget and consider future healthcare costs.
• Increase contributions if able, including catch-up contributions.
• Request a Social Security estimate at www.ssa.gov.

1-2 Years Before Retirement

Fine-tune and stress-test your plan as retirement approaches.

• Use retirement calculators or meet with a financial planner.
• Review expected health, dental, housing, and travel costs.
• Understand how taxes may affect retirement income.
• Estimate Social Security benefits and determine when to claim them.
• Research Medicare and supplemental insurance options if you are 65 or older.

Retirees may continue the University of Iowa health insurance (UIChoice or UISelect) and dental insurance (Dental II) for themselves and eligible dependents in retirement.

If a retiree chooses to continue coverage, the retiree's health and dental plans will take effect on the first day of the month following the retirement date. 

Cost of Coverage

Retirees pay the full monthly premium for health and dental coverage, including any elected dependent coverage. Premium rates are subject to change and are reviewed annually. 

• If an employee meets the age and service requirements at retirement, they may be eligible for the $288 monthly contribution toward health insurance. Please note that the $288 monthly contribution is not guaranteed year to year.

Current retiree premium rates can be found on the Retiree Benefits webpage.

Length of Coverage

Retirees may remain enrolled in the University of Iowa retiree health and dental plans for as long as they wish, provided premiums are paid, until they choose to cancel coverage.

Once a retiree leaves University retiree coverage, they may not enroll again at a later date. 

Yes, retirees may return to work at the University of Iowa after retiring. 

Important requirement: Bona fide separation from service 

The University of Iowa requires all retirements to be a complete separation from employment. This is called a bona fide separation. It means your employment ends fully.  

To meet this requirement: 

• You may not retire with a prearranged agreement to return to work. 
• Your employment must end completely at the time of retirement. 
• Retirement cannot be used as a temporary break or change in employment status.  

Rehire after retirement 

Departments are encouraged to plan staffing needs without relying on employee retirements. 

However, if a retiree is rehired due to a business need, or to support business continuity: 

• The role is usually temporary. 
• The position is generally not eligible for benefits. 
• The rehire must not be planned or agreed upon before the employee’s retirement date. 

These guidelines support fair and consistent hiring practices across the University. 

The University’s bona fide separation requirements are based on Treasury and IRS regulations related to allowable retirement plan distributions and separation from service. For more information, employees may review Treasury Regulations § 1.401(a)-1(b)(1)(i), Treasury Regulation § 1.403(b)-6, and Internal Revenue Code § 403(b)(1).