Ready to Retire, Benefits, Human Resources, University of Kentucky

Ready to Retire

Eligibility For Retirement from UK

To be considered as an official retiree by the University, you must be:
At least age 65 which is normal retirement OR
Early Retirement - have a combination of age and service to equal 75 with a minimum of 15 years of continuous regular full time service.

Steps to take when getting ready to retire...

Retirement Illustration

1) You may first want to request a retirement illustration from a representative with your retirement company (ies). An illustration will give you income options available to receive your retirement monies. It will also give you the amount of money you will receive upon retirement. The contact numbers for the carriers are:

Fidelity Investments 1-800-343-0860 or One on One 1-800-642-7131
TIAA/CREF 1-800-842-2776 or One on One (Local Office) 859-224-6900

Social Security Office

2) If you are age 62 or older, you may want to contact your local Social Security office to gain information on social security income amounts (The amount will vary based on your age when you begin collecting social security benefits.)

For general information and to schedule an appointment, call 1-800-772-1213. Lexington’s local Social Security office phone number is 866-530-7754. Or visit their web site at http://www.ssa.gov

Medicare Enrollment

3) If you are age 65 or older, you need to contact Medicare to enroll in Part B for coverage of physician services. Your enrollment in Medicare part A is automatic if you are eligible to receive Social Security benefits and you will be sent a card three months prior to your effective date.

You should not enroll in Part D prescription coverage if you plan on continuing coverage with the University Retiree Health plan, Medicare Carveout. The University Retiree Health plan offers its own prescription coverage administered by Express Scripts.

You may contact Medicare for details about Medicare enrollment at 1-800-633-4227.

Service Check

4) Call Employee Benefits Customer Service Desk and request a “service check” be sent to you to verify your retirement eligibility.

The phone number to Employee Benefits is 859-257-9519, press option 3 for benefits customer service.

Schedule Meeting with Retirement Officer

5) Once service check is received, schedule a meeting with a University of Kentucky Retirement Officer to receive instructions about retirement and benefits.

Call customer service in Employee Benefits to schedule an appointment. The number is 859-257-9519, press option 3.

Written Notice of Intent to Retire

6) Please keep in mind, a 90 day notice to your department is required for early retirement from staff. (Early retirement is considered prior to age 65.) If age 65 or older, staff is required to provide a 30 day notice. Faculty members are required to provide a one semester notice. A copy of your written notice to your department should be sent to Employee Benefits, attn: Retirement Officer.

Benefits