Retiring July 1? Here’s what you need to know — and what to do
Congratulations on your upcoming retirement! Take a look at the options below to help you prepare, and make sure to submit your signed retirement election form and any required documents through UC Retirement At Your Service (UCRAYS) 45–60 days before your planned retirement date.
Due to improved processing times at the UC Retirement Administration Service Center (RASC), the “No Lapse in Pay” election is no longer available. No Lapse in Pay (NLIP) was an option intended to help avoid a gap between your final paycheck as an employee and your first retirement benefit payment.
Be prepared
RASC has a dedicated team of accredited financial professionals available for personalized retirement counseling by appointment. The Retirement Counselors help members of the UC Retirement Plan (UCRP) make informed decisions about their retirement, and you can schedule an appointment online.
Here are a few important steps you can take on your own, before or after your appointment:
- Review What to do when you’re preparing for retirement, a step-by-step guide with links to the resources you’ll need along the way.
- Gather required documentation — such as acceptable evidence of birth (for a spouse, domestic partner or a contingent annuitant), marriage and/or domestic partnership.
- If you may be eligible for Medicare, read the Medicare Fact Sheet to find out what you need to do to enroll and coordinate with your UC medical plan.
- If you have service credit with CalPERS or CalSTRS, read the fact sheet on UCRP/CalPERS Reciprocity or on UCRP/CalSTRS Concurrent Retirement to learn more about your eligibility and any additional steps you need to take.
- If you are required to divide property due to a divorce, legal separation, or termination of a domestic partnership, check with your legal advisor to make sure you have the documentation you need. See the Qualified Domestic Relations Order (QDRO) Fact Sheet for details.
- Register for a live retirement planning webinar:
- Preparing for Retirement — For UCRP members planning to retire within the next five years and for vested inactive members of UCRP.
- Retiree Health Benefits — Learn about the health plans available for UC retirees and their eligible family members.
- The UC Retirement Process from Start to Finish: For UCRP members planning to retire within the next 4-12 months.
Questions?
To speak to a UC Retirement Administration Service Center representative, call 1-800-888-8267, Monday–Friday, 7 a.m. to 4:30 p.m. (PT), or send a secure message through UCRAYS.
Tags: benefits, retirees, retirement
