Retiring from UNI

Retirement contributions provided by UNI are an important
part of your future financial well being. It’s important to
understand the benefits of your current retirement plan and the
benefits you will receive in retirement. Use this page to find out more information about retiring from UNI.
UNI Retirement Benefits

List of Retirement Benefits


Complete List of Benefits




Frequently Asked Questions: Click Here



Forms and Resources
Request for Administrative Emeritus Status (PDF)
Request for Faculty Emeritus Status (PDF)
Retirement Benefits Checklist (PDF)
Merit AFSCME Retiree Rates (PDF)
UNI Retiree Rates (PDF)
 



Quick Tips
Upon retirement, an employee may retain their Medical and Dental Coverage but are responsible for the full premium cost.

Faculty , P&S, and Supervisory Merit employees must be 55 or older to continue health and dental coverage.

Merit employees must be 55 or older and begin taking retirement income from TIAA-CREF or IPERS to continue on a State health and dental plan.

Upon retirement, you will receive pay for all accrued vacation.

If you are over the age of 55 and apply to begin taking retirement income (TIAA-CREF or IPERS), you are eligible to receive a payout of unused sick leave, up to maximum of $2,000.
 


Description

Employees 55 or older may retire from the University and have the option to continue some of their benefits.

Continuation of Health/Dental Insurance
Upon meeting the following requirements, an employee may retain their Health and Dental Coverage but are responsible for the full premium cost. Retirees must make payments directly to the health/dental providers; automatic withdrawal is available.

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.

Faculty, P&S, and Supervisory Merit employees must be 55 or older to continue health and dental coverage. The surviving spouse of a UNI Retiree is allowed to continue coverage unless they are eligible for another employer group plan.

Merit employees must be 55 or older and begin taking retirement income from TIAA-CREF or IPERS. You and your eligible dependents can continue on a State health plan and dental plan if you and your dependents are on the plan at the time of retirement. You cannot change plans at the time of retirement. It is important to make this change during the open enrollment period prior to your retirement. If you discontinue either the health or dental plan, you cannot enroll later.


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 June 30 following age 70 you will have paid up coverage. The paid up death benefit will be $4,000 for faculty and $2,000 for all other employees. 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 are no options for continuing 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 Services Office to withhold additional contributions from your final paycheck. Arrangements should be made prior to the 15th of the month in which you retire.


Unused Accrued Vacation
For P&S and Merit, you will receive pay for all accrued vacation. The total compensations will be the number of hours accrued on the date of retirement multiplied by your hourly wage. Payout 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 of IPERS), you are eligible to receive a payout of your unused sick leave. The total payout 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 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 20 or more years of creditable service in higher education with at least 10 years of meritorious service with UNI may apply for Emeritus Status.

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Date Updated:September 3, 2013