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Retirement planning checklist

The steps on this webpage are meant to provide an overview of the retirement process based on how close you are to retirement. These steps are not all-inclusive, nor are they detailed enough to cover all of your individual considerations. Questions should be directed to the HR Service Center at (573) 882-2146, (800) 488-5288 (toll free), or HRServiceCenter@umsystem.edu.

When you are two to 10 years from retirement
When you are one to two years from retirement
  • If your core retirement plan has a defined benefit (pension) component, calculate an estimate of retirement pension benefits.
    • Even if you’ve run the calculation before, it's a good idea to get an estimate that uses the most up-to-date figures.
  • Contact the HR Service Center to request a planning appointment with a UM Retirement Specialist.
  • Review your eligibility to continue insurance coverage through the University as a retiree.
    • If eligible to continue insurance as a retire, consider your insurance enrollments and how they affect your retirement options:
      • Any election changes must be made during the annual enrollment period the year prior to your retirement while you are still an active employee. Annual enrollment occurs once per year in a two-week period during the fall.
      • Watch the corresponding on-demand online seminars for additional details.
  • Understand your Social Security and Medicare benefits:
Three to six months before retirement
  • If your core retirement plan is either the Defined Benefit (DB) Plan or the Hybrid Plan:
    • Your first step is completing a Notice of Intent to Retire Form (PDF, 159KB). Follow and complete the instructions on the form no later than 60 days prior to your retirement date.
    • If you are in the Hybrid Plan or have made contributions to a Voluntary Retirement Plan through the University, contact Fidelity and/or TIAA to discuss your options for disbursement and withdrawal during retirement.
    • Read our retirement quick guide (PDF, 108KB) for more information about the retirement process from the DB Plan or Hybrid Plan.
  • If your core retirement plan is the Defined Contribution (DC) Plan:
  • If you would like to continue using your University email as a retiree, work with your local IT Help Desk to request this service.
  • Each campus has its own retiree association. If you are interested in more information, please contact the Human Resources Generalist on your campus.
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Reviewed 2019-10-11