Prospective Retiree Information
This page was developed to assist employees who are thinking about or nearing retirement. The checklist and guide will cover your eligibility and benefits as a retiree of the State System. For additional information, please contact your university human resources office.
Employees must meet certain criteria (age/years of service) in order to be eligible for retiree healthcare. Click here to view eligibility, plan, and enrollment information.
Leave Payout Eligibility
Employee who meet certain criteria may be eligible for a payout of their sick leave. Click here to view eligibility, payment schedule, and deferral options.
Employees may be eligible for additional benefits or may be able to continue voluntary benefits after retirement. Click here to view your options.
In order to be eligible for a sick leave payout upon your retirement, you must begin to draw your monthly lifetime retirement annuity within 90 days. If you fail to finalize your retirement annuity within 90 days you will forfeit your sick leave payout. You also must begin to draw your annuity prior to enrollment in the retiree healthcare plan.
Any of the monthly payment plan options available through SERS or PSERS meets the criteria of drawing a monthly lifetime annuity. Contact SERS or PSERS to finalize your retirement paperwork.
Alternative Retirement Plan (ARP)
Meeting the criteria of drawing a monthly lifetime annuity varies by ARP vendor (Fidelity, TIAA, VALIC). Schedule a meeting with your ARP vendor representative who will confirm and review the qualifying annuity options. A minimum of $10,000 must be annuitized with either one vendor or a combination of vendors.
If you are thinking about retirement, view our PowerPoint: