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Retiring on July 1? Starting April 1, you can apply for retirement with “no lapse in pay”

If you’re planning to retire on July 1, make sure to mark April 1 on your calendar. April 1 is the first day to apply for a July 1 retirement and “no lapse in pay,” a guaranteed continuation of income and medical and dental benefits (if you’re currently enrolled, and eligible for benefits as a retiree) as you transition to retirement.

Applying for the “no lapse in pay” option is easy — simply click the opt-in box when you begin the retirement process in UC Retirement At Your Service (UCRAYS) (or submit Form 168PDF). Around 80% of UC’s prospective retirees were approved for the option last year and received their first retirement benefit payment on August 1 as promised.

To be approved, you must meet eligibility requirements (see the UCnet article linked below for details) and submit your No Lapse in Pay electronic opt-in or form (PDF), your signed Monthly Retirement Income election and all required documentation by Friday, May 12, 2023.

For the full details of this program, visit UCnet

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