Information for University Retirees
- Eligibility for Retirement from the University
- Retiree Benefits
- Withdrawing Money from Your Retirement Accounts
PLANNING FOR RETIREMENT
Employees interested in retiring from the University should contact the Benefits Department at (801) 581-7447 to schedule an appointment with their Benefit Counselor. Appointments should be scheduled at least 90 days prior to the planned retirement date in order to complete all necessary paperwork prior to retirement.
ELIGIBILITY FOR RETIREMENT FROM THE UNIVERSITY
Full Retirement: (Policy 5-112: Retirement)
This option allows faculty and staff members to retire from the University while maintaining ID privileges and University health care coverage at the retiree's expense.
- You must be at least age 60 or have 30 or more years of service with the University (20 or more years of service with the University working in a position that qualifies for participation in the URS Public Safety Retirement Plan); and
- You must have completed five years of continuous benefit-eligible service for the University immediately prior to retirement.
- You may maintain health coverage in the Retiree Health Care Plan and dental coverage for up to 18 months at the full cost.
- A retiree ID card will be available entitling the retired member and spouse to all applicable benefits
University of Utah Policy also provides for early retirement and phased retirement. These options are only available to those who qualify and receive approval from their departments. Contact your Benefit Counselor at (801) 581-7447 if you are interested in more information on these options.
For information on termination and conversion of your University employee benefits at retirement, please see the University Benefits at Retirement notice.
Retiree Health Care Plan
Health care coverage at group rates is available through the University for University Retirees.
Retirees and their family members who are not yet eligible for Medicare may enroll in the University’s Retiree Health Care Plan. Prescription drug coverage for members not eligible for Medicare is processed through RegenceRX (www.regencerx.com).
Retirees and their enrolled family members may maintain dental coverage through the University for the first 18 months of eligibility for enrollment in the Retiree Heatlh Care Plan. At the end of the 18-month period or during a subsequent Open Enrollment Period, retirees may enroll in group dental coverage through Regence BlueCross BlueShield.
Retirees and their covered dependents who are eligible for Medicare must enroll in Medicare Parts A and B. The University’s Retiree Health Care Plan pays benefits as a secondary health plan for those eligible for Medicare, whether or not the individual is actually enrolled in Medicare.
Retirees and their family members who are eligible for Medicare may choose from the following options:
- Enroll in the University’s Retiree Health Care Plan
- Enroll in a Medicare Advantage plan through Humana, Regence BlueCross BlueShield, or UnitedHealthcare
- Enroll in a Medicare Supplement plan through UnitedHealthcare
- Enroll in other individual coverage
For additional information see the following:
- Frequently Asked Questions
- Summary Comparison - Medicare Advantage Plans
- Summary Comparison - UofU Plan and Medicare Supplement Plans
- Open Enrollment Form
Medicare Part D Prescription Drug Coverage is available through the University with Regence Life & Health ("RLH") Medicare Script™ for those eligible for Medicare. It is available to Retirees enrolled in the University’s Retiree Health Care Plan and to those who choose other Medicare Supplement coverage. For information on Medicare Script prescription drug coverage for those eligible for Medicare, please see the Important Notice Regarding Prescription Drug Coverage and Medicare or see the RLH Medicare Script website. Each retiree and dependent eligible for Medicare and enrolled in the University Retiree Health Care Plan must complete a separate Medicare Script Enrollment Form (the form is submitted to the University Benefits Department and premiums for coverage are paid through the University.)
For detailed information on the Medicare Advantage and Medicare Supplement plan options being offered, contact the provider directly:
|Contacts||Hours of Operation||Customer Service Numbers||Web Address|
|University of Utah|
420 Wakara Way, Ste 105
SLC, Utah 84108
|Monday – Friday
8:00 am – 5:00 pm
Fax: (801) 585-7375
|Group Medicare Customer Service||Monday – Friday
6:00 am – 7:00 pm
TTY: (800) 833-3301
|Regence BlueCross BlueShield of Utah|
|University Retiree Health Care Plan||Monday – Friday
7:00 am – 6:00pm
|Regence RX (Prescription drug coverage for those not Medicare-eligible)||Monday – Friday
8:00 am – 7:00 pm
|Regence Medicare Script (Prescription drug coverage for Medicare-eligible individuals)||Monday – Friday
8:00 am – 8:00 pm
|Medicare Advantage Plan||Monday – Friday
8:00 am – 8:00 pm
|AARP MedicareComplete Plan||Monday – Sunday
8:00 am – 8:00 pm
TTY users, call 711
|AARP Medicare Supplement Plan||Weekdays:
5:00 am – 9:00 pm
7:00 am – 3:00 pm
TTY users, call 711
|AARP Medicare RX Plans||24 hours a day, 7 days a week||(800) 545-1797
TTY users, call 711
|University of Utah Health Plans|
|University of Utah Health Plans (Healthy Advantage Plus)||Monday - Sunday
8:00 am - 8:00 pm
Employees should complete a Retiree Health Care Plan Enrollment Form prior to retirement in order to avoid a break in coverage.
A Benefit Counselor in the University's Benefits Department will assist you in completing these and other retirement forms. Contact the Benefits Department at (801) 581-7447 to schedule an appointment or to ask questions about available coverage.
Retirees and their enrolled dependents who become eligible for Medicare after enrolling in the Retiree Health Care Plan should contact the Benefits Department prior to the date they become eligible for Medicare in order to avoid a loss of prescription drug coverage and possible Medicare late enrollment penalties.
Retirees may pay for health care coverage monthly or sign up for automatic withdrawal.
Other Retiree Benefits
- Reduced tuition benefit of 50% including classes at the Osher Lifelong Learning Institute (a special program for people age 50 and better) and other Continuing Education programs
- Retiree ID card with a lifetime validation free of charge
- Bookstore discount (excluding computers)
- Use of those Union Building facilities requiring an ID card such as movies, bowling, billiards, lectures, etc.
- Discounts on season athletic tickets, theater tickets, and travel series tickets
- Parking with purchase of appropriate sticker
- Privileges at University library facilities
- Continued membership in the University Credit Union
To begin taking withdrawals from your retirement accounts, contact the appropriate provider's customer service department. Withdrawals from some accounts may be subject to a 10% IRS early withdrawal penalty if you are under age 59 at the time of the withdrawal. Check with the investment provider for specific information.
|AIG Valic||(801) 521-9922|
|Fidelity Investments||(800) 343-0860|
883-5100 (in Salt Lake City)
|Utah Retirement Systems||(801) 366-7700
For additional information on retiring from the University, contact the University Benefits Department at (801) 581-7447.