Benefits
If you are age 65 or older when you retire from the university, you are required to enroll in premium-free Medicare Part A (if eligible) and purchase Medicare Part B coverage.
- Part A helps cover inpatient hospital care, skilled nursing care, and hospice and home health care.
- Part B helps cover medically necessary services such as doctors’ services and outpatient care. Part B also covers some preventive services, including pap tests, flu shots, and screening mammograms.
- If you do not sign up for Part B when you are first eligible, the cost for Part B may go up 10% for each full 12-month period that you could have had Part B but did not sign up for it.
To help cover the cost of medical expenses, eligible retirees can receive a monthly contribution to a PEBP Exchange-HRA based on their date of hire, date of retirement, and total years of service.
An eligible retiree must obtain and maintain medical coverage through the Medicare Exchange, Via Benefits. TRICARE for Life retirees are not required to enroll in a medical plan; however, they must provide PEBP with a copy of their TRICARE for Life Military ID card front and back and Medicare Parts A and B cards.
Steps to Retire
Discuss your Retirement (one to six months prior to departure)
Talk to your supervisor about your retirement and select an effective date for your separation. Complete the and indicate that you will be retiring. Then, submit your resignation in Workday by following these steps:
- From the Workday homepage, click on the blue cloud in the upper-right corner
- Select ‘View Profile’
- Select ‘Actions' underneath your name
- Select ‘Job Change and ‘Resign’
- Complete prompts and select Worker Resignation > Resignation > Retirement.
- Upload resignation form
Make Arrangements for Health Insurance (three to six months prior to departure)
We encourage you to contact Medicare at least three months before you retire to apply for coverage. Call 800-633-4227 for additional information. To help cover the cost of medical expenses, eligible retirees can receive a monthly contribution to a PEBP Exchange-HRA based on their date of hire, date of retirement, and total years of service credit earned. Within 60 days of your retirement date, contact PEBP for the required forms. You will need to submit a Retiree Benefit and Enrollment Change Form (RBECF)along with a Years of Service (YOS) Certification Form to the PEBP office. If you are Medicare eligible, you will need to submit a copy of your Medicare Parts A and/or B card. You may also need to transition to the Medicare Exchange at that time. You must have Medicare Part A and B to be eligible to receive the retiree healthcare benefit.
Meet With a TIAA Retirement Counselor (three to six months prior to departure)
Meet with a retirement counselor from the TIAA office at least six months before your intended retirement date. To schedule an appointment, call 800-842-2252 or schedule a . Participants are eligible to withdraw funds from the plan if they:
- Separate employment
- Are age 62 even if still employed
- Beneficiaries can withdraw funds if employee passes away
Schedule Your Offboarding Meeting (one to six months prior to departure)
Email offboarding@unlv.edu to notify HR that you plan to retire and schedule an offboarding appointment. The benefits representative will discuss options available to you for continuation of benefits, retirement accounts, voluntary insurance policies, etc.
Discuss Your Time Off (one to six months prior to departure)
We recommend that you meet with your department leave-keeper to ensure that all of your time off requests are correct in Workday. If you're on an 'A' contract, you are entitled to payment for unused annual leave. If you are on a 'B' contract, you are not eligible for payment.
Return Department Property (last week prior to departure)
Return department property, including office keys, access cards, and department credit cards.
Settle Any Outstanding Debt Owed to the University (two to four weeks prior to departure)
Debts can include, but are not limited to, library fines and parking citations.
Update Workday (last week prior to departure)
- Complete any outstanding Inbox items
- Update your contact information, including your email address. Your 51³Ô¹ÏºÚÁÏ email will end on your last day of employment
- Select ‘View Profile’ in the upper-right corner in Workday
- Select ‘Actions’ and then ‘Personal Data’
- Select ‘Edit Personal Information’
- Select ‘Change Contact Information’, make changes, and ‘Submit’
- Ensure any delegations are removed