An employee must be at least 55 years of age to be eligible for retiree benefits. Employees should establish their retirement date with their department. Please contact the University Benefits Office at least six weeks before your retirement date and schedule an appointment to complete the necessary paperwork.
Health and Dental Insurance
Merit Staff Retiring Prior to July 1, 2017:
For Merit Staff retiring prior to July 1, 2017, you and your eligible dependents can continue on a state health plan through December 31, 2017 if you are enrolled in a state plan at the time of retirement. You can also continue dental coverage for you and your dependents through December 31, 2017 if you and your dependents were on the state dental plan at the time of your retirement. Effective January 1, 2018, Merit Retirees will be eligible for the same retiree health and dental plans available to Faculty, Professional & Scientific, Merit Supervisory Exempt and Merit Confidential Staff retirees. In order to continue health and/or dental coverage, you will need to actively enroll in the new benefit plans during Open Enrollment. If you discontinue either the health or dental plan, you cannot enroll later.
Faculty, Professional & Scientific, Merit Supervisory-Exempt, Merit Confidential and Merit Staff retiring after July 1, 2017:
You and your eligible dependents can continue UIChoice health and/or Dental II plans at the time of your retirement. If insurance is not continued at retirement, you cannot enroll later. (Exception: If coverage is continued with another employer through active employment, the retiree and spouse may enroll later with proof that the employment related coverage ended). If you are 62 or over and you have 10 years of continuous benefit eligible service, you may be eligible to receive a contribution to your health insurance. Retirees can elect to be billed directly by The University of Iowa or complete a form to have premiums withdrawn from a bank account.
Plans, rates and coverage are subject to change.
For detailed information, please refer to the Medicare website or contact the local Social Security Office at (866) 964-2039.
Medicare Part B:This provides medical insurance that helps pay for doctors’ services, outpatient hospital care and other services. You and your spouse do not need Part B while you are employed at the University and enrolled in an insurance plan. When you retire you must enroll in Medicare B as soon as you become eligible. It will be the primary insurer and the University plan may be continued as a Medicare carve-out plan, which will be the secondary insurer.
If you retire under age 65 and continue on a University health plan, the Benefits Office will mail you information prior to your 65th birthday about continuing the University plan as a carve-out to Medicare. If you become eligible for Medicare prior to age 65 due to disability, please contact the Benefits Office.
Medicare Part D: This provides prescription drug coverage, however, University health plans include prescription drug coverage that is as good as or better than the standard Medicare prescription coverage. This means that this is considered “creditable coverage” and you will not have to pay a penalty if you later decide to enroll in a Part D plan. You should not enroll in a Part D plan if you are enrolled in the University’s Employee or Retiree health plans. An exception is for Merit retirees. Some of the State of Iowa plans allow enrollment in a specific Medicare D plan designed to coordinate with specific State of Iowa retiree health plans. Letters of Creditable Coverage for Medicare D are mailed each October to active employees and spouses and retirees and spouses over age 65.
Contact the Social Security Administration approximately three months prior to the date on which you want payments to begin. You can receive a projection of your benefits and apply for benefits on the Social Security website. The Iowa City Social Security Office phone number is (866) 964-2039.
After you retire, you have several TIAA income options. For information, call the TIAA customer service number at (800) 842-2776, or schedule an appointment with the TIAA Coralville office by calling (319) 356-8000.
IPERS: If you have IPERS benefits and would like a projection of your benefits, call IPERS at (800)622-3849 or refer to their website.
Vacation and Sick Leave
You will be paid for all unused vacation plus up to $2,000 for unused accumulated sick leave. Time records should be submitted as soon as possible after your last day of work. You have the option to contribute these payments to a Voluntary Retirement Savings account.
You may request to convert your current coverage to an individual or family policy in the amount of $100,000 only. Premiums will be based on age & class of risk at the time of termination. To request a Conversion Application form, log onto https://conversion.enrollzonline.com or call (800) 834-1959 and refer to policy # GTU2855720.
You can convert your group life insurance to an individual policy with Principal Financial Group. The cost is based on your age at retirement. It is guaranteed coverage, so no physical is required. You must apply for this insurance and pay the first premium within 31 days after the date your group coverage ends.
Health Care Spending Account
Eligible expenses for reimbursement must be incurred by the last day of the month that you participate in the plan. You have until April of the following year to submit claims. All funds remaining after April of the following year are forfeited to the University.
If you are enrolled in the following voluntary plans at the time of retirement and have the premiums deducted from your paycheck, you should contact the insurance company at the number provided to discuss continuing it through direct billing after retirement.
Long Term Care Insurance:
Genworth (800) 416-3624
John Hancock (888) 999-2072
MetLife (800) 233-5824
Principal Financial Group (800) 986-3343, ext. 76398
Vision Insurance: Cannot keep after termination
Privacy Information: The University Benefits Office may only discuss any of your personal health information (insurance plans or coverage levels) with someone such as a spouse, domestic partner, or personal assistant, if you complete the Personal Health Information Release Form (pdf) or make changes on the Employee Self Service website prior to your retirement.
Parking: Contact Parking and Transportation at (319) 335-1475 regarding your parking or transportation charges.
Athletic Tickets: If you purchased season athletic tickets for the five years prior to retirement, you can continue to purchase tickets at the staff rate (319) 335-9309.
Faculty/Staff ID Cards: Retirees may keep their ID card and continue to use the associated privileges. For security purposes, hospital retirees are required to turn in their ID cards and call (319) 335-2716 to obtain a University ID card.
Recreational Services Membership: Contact Recreational Services at (319) 335-9293.
E-mail Account: Contact ITS at (319) 384-4357 or email the ITS help desk for information about continuing your e-mail account.
The University of Iowa Retirees Association: The purpose of the University of Iowa Retirees Association is to facilitate support of The University of Iowa by retired staff members and to promote the interests and welfare of those retirees and is a great way to keep in touch with each other and with the social and intellectual life of The University of Iowa.