There are normally two options available for retirement: Regular and Phased.
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:
April 18, 2019, 1:00 pm - 5:00 pm
September 30, 2019, 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.
- Faculty, Professional & Scientific and Merit Retiree health plans
- Social Security Administration
- Social Security Break Even Age Calculator
ABOUT OUR SITE: The information presented on our website describes only the highlights of the plans and does not constitute official plan documents. Additional terms and conditions apply. If there are any discrepancies between the information contained herein and the official plan documents, the plan documents will govern.