You are considering retiring! Employee Benefits recommends you carefully review this checklist and also read the helpful booklet Planning For Retirement. To be eligible for health insurance as a retiree, you must meet all of the following criteria:
- At least age 55 and be vested in one of our retirement plans
- Enrolled in a NYSHIP health insurance plan immediately preceding retirement as an enrollee or NYSHIP dependent
- Have worked in a benefits eligible position for 10+ years
When possible, one year prior to your planned retirement, submit requests or estimates of retirement income to your retirement system(s) or meet with your ORP vendor, supplemental retirement and/or tax deferred carrier. For additional preparation tips visit http://www.suny.edu/benefits/retirement-planning/.
Decide the exact date of your retirement, which is a beginning of business date. This is the first day you are fully retired and you should not work on this date.
Notify your supervisor (Chair/Dean), in writing, and provide a copy to the Office of Human Resources at a minimum:
- Classified Service: 1 – 2 months prior to retirement when possible
- Faculty: 6 - 12 months prior to retirement when possible
- Professional Staff: 30 days prior to retirement when possible
To inquire about pension distribution options, contact your retirement system:
- ERS/PFRS: (866) 805-0990 –You must file your Application for Service Retirement within 15 to 90 days prior to retirement effective date and, if desired, arrange a benefit consultation with a state representative.
- TRS: (800) 348-7298, ext 6250 or 6100 – Arrange a Local Benefits Consultation with a TRS representative; to collect a pension benefit, you must file a TRS Retirement Application.
- Once you have filed your retirement application, option selection forms should be received from your retirement system at your home address (usually done before the end of the month in which you retire).
- TIAA: (800) 842-2252 • FIDELITY: (800) 248-4213
- VOYA: (716) 626-3928 • NYS DEFFERED COMP: (800) 422-8463 ext 44397
- Corebridge Financial: (800) 448-2542
You may contact your Social Security Office 6 months before your retirement for an estimate of your retirement earnings. Your earnings should start the first day of the month following the completion of your work obligation and the filing of your Social Security application.
Paid dental and vision coverage does not carry into retirement:
- It is recommended to complete all necessary dental and vision appointments prior to retiring
- CSEA & UUP employees should contact their union benefit fund office for eligibility information to continue dental and vision insurance:
- CSEA BENEFIT FUND: (800) 323-2732
- UUP BENEFIT FUND: (800) 887-3863
- M/C, PEF, NYSCOPBA, and PBANYS employees will receive information from Civil Service via mail
You must arrange a Retirement Exit Meeting by contacting Michelle DeMonte at mdemonte@brockport.edu or 395-5136.
Bring your timesheets up to date:
- Check with the time and attendance contact person in your department before your last day of work to ensure all timesheets have been received
- Ensure you have entered your electronic final time and attendance information at https://www2.sysadm.suny.edu/hrportal/
- Unused vacation up to 30 days is paid in a lump sum at time of retirement (Note holidays, personal leave or vacation over 30 days are not paid out).
- You have the option to calculate your estimated monthly sick leave credit using the Calculate your sick leave credit guidelines.
- Your final sick leave credit will be calculated by HR as an estimate in preparation for your Retirement Exit Meeting with Human Resources.
- The Department of Civil Service will approve the final sick leave credit calculation.
- If you or any of your dependents covered under your current NYSHIP health plan are age 65 or older or disabled, you must enroll in Medicare A & B via the Social Security Administration Office. Do not enroll in Medicare part C or D.
- Your NYSHIP health insurance will be secondary to Medicare effective the first day of the month following the two-pay-period “run-out.” The Social Security Administration may be reached at (800) 772-1213. The local office is at 4050 West Ridge Road, Hampton Ridge Professional Building, 2nd Floor, Greece, NY.
- Attend your Retirement Exit Meeting with Employee Benefits prior to retirement date to finalize paperwork, discuss other retirement details and answer any final questions you may have.
- Your spouse or partner is invited to attend.
- At the exit meeting, employee benefits will complete the following forms for you: PS-404 Health Insurance Transaction Form, a Dual Annuitant Sick Leave Credit Election Form, a Survivor’s Benefit Program Form RS 6355 and if applicable, the form to Defer Health Insurance & Sick Leave Credit Indefinitely.
- HR will provide you with copies of all fully-executed forms.
Congratulations and enjoy your retirement!