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
- Calculate an estimate of retirement pension benefits.
- Review projections of your other retirement income – This may include your tax-deferred investments with a UM System voluntary retirement plan and/or your Social Security benefits or other personal retierment savings you may have outside the University. Projections of these sources of retirement income may be manually entered into the pension benefits calculator.
- Sign up for a retirement seminar series or view available webinars to learn more.
When you are one to two years from retirement
- 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 access category assigned on 12/31/17 to determine if you will be eligible to continue insurance 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.
- If eligible to continue insurance as a retire, consider your insurance enrollments and how they affect your retirement options:
- Understand your Social Security and Medicare benefits:
Three to six months before retirement
- Your first step is completing a Notice of Intent to Retire Form . Follow the instructions on the form and return the form no later than 60 days prior to your actual retirement date.
- There are a lot of other things to consider, too. The best thing to do is to read our retirement quick guide .
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Reviewed 2019-08-23
