Getting Ready to Retire
As part of our commitment to all valued employees, the Office of Human Resources offers retirement consultations to assist with the transition into retirement. At the retirement consultation, we will review UT System Retiree Insurance Benefit eligibility requirements, benefit options, TRS/ORP requirements, coordination of UT Retiree Insurance Benefits with Medicare. Additionally, your HR Business Partner will help you explore the impact of reaching key service milestones and address questions about your specific retirement goals.
To request a retirement consultation appointment, please contact your HR Business Partner at email@example.com. Include your name, phone number and/or email address, an estimated retirement date (if available) and morning/afternoon appointment preference.
The following resources are also available to assist you in determining eligibility and benefits:
- TRS: Eligibility Requirements
- TRS: Planning for Retirement
- UT System Retired Employee Group Insurance
The retirement checklist outlines steps to take once you are ready to retire. If you have questions, contact your HR Business Partner.
6 Months Prior to Retirement
- TRS Members
Contact TRS to request a retirement estimate and packet. Review and complete the forms included in your packet and return them directly to TRS (except for the TRS 7 form) as soon as possible before your retirement date. Review and update your beneficiary designations with TRS.
- Schedule a retirement consultation with your HR Business Partner at firstname.lastname@example.org. See Preparing for your Retirement Meeting below and ensure items are completed prior to your scheduled meeting.
3 Months Prior to Retirement
- ORP Participants
Contact your ORP provider to review distribution options and beneficiary designations.
- Medicare (available at age 65 or younger if due to a disability)
If you or any of your dependents are 65 or older by your retirement date, request a completed Medicare Request for Employment Information from email@example.com. Enroll in Medicare Parts A and B online or by phone at (800) 772-1213.
- Social Security Benefits (available at age 62)
Contact the Social Security Administration about 3 months before the date you want your benefits to start. Apply online via the Social Security Administration. You may also visit your local SSA office or call (800) 772-1213.
- UTSaver Program (if applicable)
Contact your TSA 403(b) and UTSaver DCP 457(b) provider to review distribution options and beneficiary designations.
If you are planning to enroll in UT System Retiree Benefits:
- Review your current benefits elections at My UT Benefits.
- Review Retired Employee Insurance for coverage options available to retired employees.
- Review and save a copy of the Retiree Resource Guide for detailed information on UT insurance benefits.
- Review the Benefits Cost Worksheet (be sure to select “Retiree” in the drop-down menu).
- Review Deferred Compensation Plan (Vacation Deferral) option.
1 Month Prior to Retirement
- Group Term Life Conversion
If converting your Group Term Life coverage, complete Part 2 of the Application to Convert Group Term Life Insurance form and submit to firstname.lastname@example.org.
- Beneficiary Designations
Verify and update your Group Term Life beneficiary designations at My UT Benefits.
- Personal Information
Review/update personal information in PeopleSoft.
- My Current Profile: privacy options
- Personal Information Summary: email, address, and phone number
- Deferred Compensation Program
If you are not currently enrolled in a UTSaver 457(b) DCP plan and would like to participate in the Deferred Compensation Program you must enroll in a UTSaver 457(b) DCP plan before the 15th of the month in which you are retiring. You may enroll in a plan through Retirement Manager. For more information, please see Voluntary Retirement Programs and Approved Voluntary Retirement Providers.
If possible, please submit retirement questions in advance to email@example.com to make the most of your meeting time.
Complete and bring the following documents to your meeting.
- TRS 7: Notice of Final Deposit, original form – copies not accepted (from TRS retirement packet) *
- TRS 587: Unused State Sick/Personal Leave (from TRS retirement packet)
- UTSAVER 457(b) Deferred Compensation Program Purchase/Change Agreement
- Leave Balances - Separating Employees *
- Separation Record *
* required documents
If you are Retiree Benefits Eligible, you will also need to complete the following:
- UT Benefits Retiree Enrollment/Change Application *
- Please be prepared to supply dependent documentation for any dependent in which documentation was not previously submitted
- UT Benefits Billing: Direct Payment/Debit via ACH
- UT Benefits Billing: TRS Annuity Direct Payment/Debit via ACH (TRS members only)
- UT Benefits Billing: Personal Information/Emergency Contact *
- ORP Declaration of Retirement * (ORP members only)
- Am I eligible to retire under TRS?
- Am I eligible for retired employee insurance benefits?
- TRS: Planning for Retirement
- TRS: Things to do Before Retirement
- Helpful Hints for Completing the Direct Payment/Debit via ACH
- Printable Benefits Cost Worksheet for Retired Employees
- UT Benefits Billing Reference Guide
- UT Select Medicare Part D
- Social Security Administration
- Retirement Vendors
- UT Retirement Manager
- My UT Benefits
- Current Retirees