If you’re thinking of retiring in the next few months or even the next year or two, this presentation will help you understand your retirement benefits and the steps you’ll need to take in order to retire from UC.
Representatives from the Retirement Administration Service Center (RASC) are holding twice-monthly webinars to provide an overview of your UC retirement benefits, examples of retirement benefits calculations and information about what you need to do to retire from UC.
If you cannot attend one of the webinars, you can watch this pre-recorded version of the presentation. We recommend you watch the full presentation, which lasts about 60 minutes, but you can easily jump to any sections that interest you.
- Preparing for retirement
- Your UC pension
- Lump sum cashout
- Retirement payment vs. paycheck — This section gives five different scenarios of retirement calculations to help you see how various choices affect your retirement income. They also compare the employee's current take-home pay to his or her retirement benefit.
- Introduction and Example 1: 60-year old employee with 30 years of service credit; spouse is survivor.
- Example 2: 58-year-old employee with 30 years of service credit; spouse is survivor and daughter is contingent annuitant.
- Example 3: 60-year-old employee with 12 years of service credit; domestic partner is survivor and contingent annuitant; retiree health benefits subject to graduated eligibility.
- Example 4: 64-year-old employee with 37 years of service credit; spouse is survivor and contingent annuitant.
- Example 5: 71-year-old employee with 40 years of service credit, not coordinated with Social Security; spouse is survivor and contingent annuitant.
- Other sources of retirement income
- To your health
- I am ready to retire. What do I do now?
- Now that I’m retiring