Retirement Benefits Checklist

One Year Before Retirement or When Your Retirement Date Is Established

____ Contact TIAA/CREF (1-800-842-2776) to obtain an estimate of your TIAA/CREF retirement income.

____Contact IPERS (1-800-622-3849) for an estimate of your IPERS retirement income.

____Contact Social Security (1-800-772-1213) to check your and your spouse’s eligibility for benefits and to order an estimate of your Social Security income.

____Contact any past employers, including the military, to determine eligibility for other retirement benefits.

____Discuss your plans with your supervisor and/or department head.

Three to Four Months Before Retirement

____Contact TIAA/CREF and/or IPERS to order retirement application forms. For TIAA/CREF, be specific about your retirement date and what options you want (annuitization, IPRO, cashability, rollover, systematic withdrawal, etc. for Regular Annuity and/or SRA).

____If you have been making contributions to a tax-sheltered annuity other than TIAA/CREF, contact that company to order the required forms to begin benefits.

____Contact Social Security to apply for retirement benefits if you qualify.

One to Two Months Before Retirement:

____Complete and mail retirement annuity applications.

____Apply for payout of unused sick leave. Eligibility requirements are discussed in the “UNI Retiree Benefits” section of this checklist.

____Contact the Benefits Office regarding continuation of your medical and/or dental insurance – see “UNI Retiree Benefits” section of this checklist for eligibility requirements.

____If you are over the age of 65 at retirement, you must enroll in Part A and Part B of Medicare. Contact the Social Security Office to obtain an application form and an affidavit, which will allow you to enroll without penalty. The affidavit must be signed by an employee of the Human Resource Services Office.

_____Make an appointment for an exit interview by calling 273-2422.

UNI Retiree Benefits

Continuation of Medical/Dental Insurance

Faculty, P&S employees, Supervisory Merit employees – must be age 55 or older.

The surviving spouse of a UNI Retiree is allowed to continue coverage unless they are eligible for another employer group plan.

Monthly billing by carriers or automatic withdrawal set up by carrier.

Surviving spouses of UNI Retirees are not allowed to continue coverage but are offered a Medicare Supplement without health questions.

Monthly billing by carriers or automatic withdrawal set up by carrier.

For both groups, after retirement, Medicare is the primary carrier when you and/or your spouse are eligible.You must enroll in both Part A and Part B of Medicare when eligible!

Life Insurance

You may continue 1/3 of your regular coverage by paying the premium if you have been employed at UNI for ten years or more.

If you continue coverage through the June 30 following age 70 you will have paid up coverage. The paid up death benefit for faculty will be $4,000. The paid up death benefit for all other employees will be $2,000.

Your current beneficiary designation(s) will be used unless you elect to change it.

Long Term Disability Insurance

Coverage ends on the last working day. There is no provision for continuation of coverage.

Flexible Spending Account

Participation ends on the last day of the month in which you retire unless you make special arrangements with the Human Resource Servcies Office to withhold additional contributions from your final paycheck. Arrangements should be made prior to the 15 th of the month in which you retire.

Unused Accrued Vacation

You will receive pay for all accrued vacation. The total compensation will be the number of hours accrued on the date of retirement multiplied by the hourly wage rate. Payment is usually made with the final paycheck. Payout is subject to Federal and State income tax withholding, FICA and Medicare tax and TIAA/CREF. IPERS is not withheld.

Sick Leave

If you are over the age of 55 and apply to begin at least minimum retirement benefits (TIAA/CREF or IPERS), you are eligible to receive a payout of unused sick leave. The total compensation will be the number of hours accrued on the date of retirement multiplied by the hourly wage rate up to a maximum of $2,000. You will normally receive payment with your final paycheck. Payment is subject to Federal and State income tax withholding, FICA, Medicare tax and TIAA/CREF. IPERS is not withheld.

Emeritus Status

Faculty and P&S employees who have been at UNI for at least 20 years may apply for Emeritus Status. The forms are available in the Human Resource Services Office.

For answers to questions or assistance with the application forms, contact the Human Resource Services Office @ 273-2521.