I’m thinking about a Lump Sum Cashout of my retirement benefit.I have (or my dependent has) Medicare eligibility.What do I need to consider? How do I change my address? I’m planning to move after retirement.Can I change my health plans or add dependents to health plans at or after retirement?.How much does retiree health coverage cost?.Are my current dependents eligible for retiree health?.Am I eligible for health and welfare coverage as retiree?.How can I verify that my sick and vacation accruals are accurate?.
The following Frequently Asked Questions below are intended as a guide and are not intended to replace retirement counseling from a UC professional. You can also watch UC’s Preparing for Retirement video presentation. The entire retirement process takes about three months for most members. Once you’ve decided to retire, you’ll complete the application process and the election of your benefits through the University's Retirement Administration Service Center (UC RASC). You can retire and receive UC benefits any time after you become eligible - that is, when you have at least five years of UC Retirement Plan service credit and reach age 50 or 55, depending on which tier of the pension plan you’re in. You may want to consult a financial expert to ensure a comfortable worry-free retirement. The process is fairly easy, but it’s important to plan ahead as the retirement process can be time consuming. You’ve had a long, successful career at UC and now you’re thinking of the next phase: retirement. Please note: If you plan to retire on July 1, it’s recommended that you start this process as early in April as possible.