EMPLOYEE INSTRUCTIONS

 

Who should submit a Notice of Intent To Retire?

• Only employees in either the Defined Benefit Plan or Hybrid Plan who will meet the pension plan’s minimum retirement eligibility requirements (at least age 55 with at least 10 years of service or at least age 60 with at least 5 years of service) are required to submit a Notice of Intent to Retire to initiate retirement benefits.
• It is recommended that before you submit your notice, you visit the Pension Benefit Portal to calculate an estimate of your retirement pension benefits.
• For more information on how to initiate other retirement benefits through Fidelity, review the Retirement Planning Checklist.

 

Steps to submit your Notice of Intent to Retire (please read through all steps before proceeding):

1. Schedule time to meet with your supervisor to review and discuss your retirement plan.
2. Approximately 60-90 days prior to your planned retirement date, log into MyHR and complete sections 1-3 of the Notice of Intent to Retire form.
3. To process your retirement, the plan requires proof of marriage documentation based on your current marital status (document copies must be legible).  If you are:  
   1. Married: please provide a copy of your recorded marriage certificate (also known as a certified copy; this can be obtained from the county clerk or State Vital Statistics department after the marriage took place).
   2. Divorced: and were married during your employment, please provide a copy of your Divorce Decree.
   3. Widowed: and were married during your employment, please provide a copy of your spouse’s death certificate.
4. You will be able to upload electronic versions of the required documents (as outlined in Step 3) when you submit the Notice of Intent to Retire form. 
5. If, at the time of your retirement, you or any of your dependents will be Medicare-eligible and covered on a medical plan in retirement, we recommend you contact your local Social Security office to enroll in Medicare Part A and Part B approximately 60-90 days prior to your retirement date.*

 

*Enrollment in Medicare Part A and Part B is required to enroll in the Group Medicare Advantage plans sponsored by the University of Missouri.  Even if you are not eligible to enroll in a University plan, it is important to know that failure to enroll in Medicare timely, when eligible, may result in lifetime penalties from Social Security.  Visit Medicare.gov for more information.

 

What happens after an employee submits their Notice of Intent to Retire form in MyHR?

• After you submit your Notice of Intent to Retire, your campus HR Generalist* will contact you to set-up a one-on-one appointment to finalize your retirement plan.
  • If you were unable to attach the required documentation (as outlined in Step 3 above), please submit during your one-on-one appointment, email to retirement@umsystem.edu, or mail/drop off to: 1105 Carrie Francke Dr., Ste. 108, Columbia, MO 65211.
• Your retirement plan will be automatically routed to your supervisor.
• For information pertaining to rehire of retirees see https://umurl.us/rehire.
• If you need continued access to Canvas due to administrative academic duties, your department must submit a Courtesy request prior to your retirement date.

 

*View campus HR Generalist contact information on the UM System Office of Human Resources webpage: https://umurl.us/cbr