Gain a better understanding of UT Select retiree insurance, Medicare and coordination with UT Select, returning to work after retirement, and so much more.
Sessions are offered the 2nd Wednesday of every month.
For more information and to register, please see The University of Texas at Austin’s employee training management system, UTLearn (EID and password required).
2) Contact Your Retirement Program
Teacher Retirement System (TRS)
Review the Planning for Retirement page on the TRS website. This page provides information that will help you decide when it is the right time for you to retire, and what retirement option is best for you.
Optional Retirement Program (ORP)
Contact your ORP retirement provider or financial advisor three months before retirement to review distribution options and beneficiary designations.
3) Notify Human Resources – Benefits
TRS retirees must complete the TRS Notice of Retirement form (online), and upload a copy of their Application for Service Retirement (TRS-30) directly to the form.
Once HR – Benefits receives this form, they will enter your expected retirement date into Workday.
Your department will not be able to process your termination with a reason code of retirement until this step has been completed.
4) Notify Your Department
Notify your department of your intent to retire in accordance with departmental policy. Once your department has been notified, they will process your termination with a reason code of retirement in Workday.
Your department will not be able to process your termination unless you have submitted your TRS-30 or ORP Declaration of Retirement to Human Resources – Benefits.
Conversion allows Employees and their covered dependents to convert some of their Basic Life and/or Voluntary Life insurance to an individual whole life policy if any portion of their Life insurance terminates by remitting premium directly to Dearborn National.
Your current medical, dental, and vision insurance elections will automatically carry over into retirement. You will also receive an email notification to log into My UT Benefits to enroll in voluntary life and make other changes. If you do not receive this email within seven days of your retirement date, please check My UT Benefits to confirm whether you have an open enrollment event, and if not, contact the Human Resources Service Center.
All retiree insurance elections and changes must be completed within 31 days of the retirement date listed on your TRS 30 or ORP Declaration of Retirement.
If you are age 65 and older at the time of your retirement, you will be automatically enrolled in the UT Select Part D prescription drug plan within 60 days of retirement. Once your enrollment is complete, you will receive a welcome packet in the mail along with a new prescription drug card. You may continue using your current prescription drug card until your receive this packet.
7) Pay Your Premiums
All retirees (even working ones) are billed for their out-of-pocket costs.
If you fail to pay all of bill, your dependent and voluntary coverages will be canceled, and you will be required to pay a significant penalty to re-enroll yourself or your dependents in the future (including during Annual Enrollment).
Medicare is generally available at age 65. To avoid significant financial penalties, if you will be age 65 or older at the time of your retirement, you should contact your Social Security Office at least 3 months prior to your retirement date to discuss your Medicare enrollment options.
On the first of the month following your retirement, Medicare will become your primary insurer and your UT retiree insurance will only pay as secondary. If you are not enrolled in Medicare, then you will be responsible for paying the portion of your health insurance claims costs that Medicare would have paid had you been enrolled. For additional information about UT Select and Medicare, please visit our UT Select and Medicare webpage.
ORP Retirees who will immediately return to benefits eligible employment following retirement, may delay enrollment in Medicare Part B until they are no longer working in a benefits eligible job. TRS Retirees who will be returning to benefits eligible employment following the required one month break in service must enroll in Medicare Part B prior to their retirement date. For additional information, please visit the Benefits During Phased Retirement webpage.
10) Keep Your Contact Information Up-to-Date
To ensure that you receive important plan and enrollment updates, please keep your address, phone number, and personal email address up to date.
The Retired Faculty-Staff Association (RFSA) of The University of Texas at Austin provides a point of connection, continuity and communication for the mutual benefit of its members and the university. Enjoy many activities including travel, discussion groups, new restaurants, service to UT, and being part of the scholarship fund for students. For more information, please visit the RFSA website.
13) Return to Work
ORP retirees may return to work immediately after retirement without restrictions.
TRS retirees should review the Employment After Retirement brochure provided by TRS. To avoid losing your retirement benefits, please review the brochure thoroughly, and contact TRS for questions or to discuss your particular return to work scenario. Please note that you are responsible for complying with TRS’ return to work requirements.
Retiree insurance premiums cannot be deducted from a return to work retiree's pay, so you will continue to receive a bill for your monthly out of pocket premium costs.
For additional information about how your return to work may impact your benefits, please visit the Employment After Retirement webpage on the HR website.