How do I retire from UT Southwestern?

Retirement Checklist

• Contact Your Retirement Plan

  Teacher Retirement System of Texas (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 vendor or financial adviser three months before retirement to review distribution options and beneficiary designations.

• Request a Consultation with a UTSW Benefits Representative
  • TRS retirees must provide their benefits consultant with a copy of the final Service Retirement Estimate (TRS 25) received from TRS or the TRS Acknowledgement of Service Retirement letter.
  • ORP retirees must complete the ORP Declaration of Retirement form as part of the ORP retirement process.

  Once you have your form ready, benefits@utsouthwestern.edu UTSW Benefits to schedule your consultation.

• Contact Medicare to Begin Process

  Contact Medicare directly to begin their retirement process. If you receive forms from Medicare that require completion by UT Southwestern, please HR@UTSouthwestern.edu your forms to the Benefits Office.

• Notify Your Department

  Notify your department of your intent to retire in accordance with departmental policy. Once your department has been notified, and the Benefits Office has validated your eligibility for service retirement, your department will process your termination with a reason code of service retirement in PeopleSoft.

• Review Your Retiree Insurance Options and Eligibility

  Eligibility

  Review your Eligibility for Retired Employee Insurance.

  Plan Options

  Learn more about your retiree insurance plan options by visiting the Retired Employee Insurance webpage.

  Review helpful resources on the UT System Getting Ready to Retire webpage.

  For more information, contact Blue Cross Blue Shield of Texas at 1-866-628-2606.

• Enroll in Retiree Insurance
  • Contact the Benefits Office via benefits@utsouthwestern.edu to assist with retiree health insurance enrollment.
  • Your current medical, dental, and vision insurance elections will automatically carry over into retirement.
    • Your eligibility for coverage under the University's AD&D, disability, and UT Flex plans will end on the last day of the month in which you retire.
    • If you are enrolled in UT Flex, please ensure that you spend the funds in your account(s) prior to last day of the month in which you retire. Any funds remaining in your account after that date will be forfeit.
  • All retiree insurance elections and changes must be completed within 31 days of the retirement date listed in PeopleSoft.
  • If you are age 65 and older at the time of your retirement, you will be automatically enrolled in the UT CARE Medicare Part D prescription drug plan within 60 days of retirement. Retired Medicare eligible employees must be enrolled in Medicare Part A and Medicare Part B to participate in the UT CARE medical plan. Once your enrollment is complete, you will receive a welcome packet in the mail along with new insurance cards. You may continue using your current cards until you receive this packet.
  • Once enrolled in Medicare, please contact UT CARE to advise of Medicare enrollment and to provide your Medicare Part B number for coordination of benefits.

  View Retiree Group Insurance Details

• Pay Your Premiums

  All retirees (even working ones) are billed for their out-of-pocket premiums.

  If you fail to pay all of your bill, your dependent and voluntary coverages will be canceled, and you will be required to pay a significant penalty to reenroll yourself or your dependents in the future (including during annual enrollment).

  For more information about billing and retiree insurance premium payment options, please visit the UT Benefits Billing for Retirees webpage on the UT System Benefits website.

  How much are premiums?

  View premiums for each coverage type.

• Decide What to Do With Your Accrued Paid Time Off

  There are two options for your paid time off:

  • Unused paid time off (PTO) may be paid out.
  • It may be wholly or partially rolled over into a UTSaver Deferred Compensation Plan (DCP) or UTSaver Tax Sheltered Annuity (TSA) account. If you choose to defer, please complete an Annual Leave Deferral Agreement and submit it prior to your last day of employment. Additionally, you must open an account directly with an Approved Retirement Provider.
• Contact Social Security Administration (If Applicable)

  Social Security benefits are generally available at age 62 or older. If eligible, you should apply for retirement benefits at least six months prior to the date you want your benefits to start.

  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 three months prior to your retirement date to discuss your Medicare enrollment options.

  • If you are Medicare eligible and you are not enrolled in Medicare Part A and Medicare Part B, 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.

  View Medicare Part A and Part B Details

• 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.

  You may update your information by hr@utsouthwestern.edu.

• Turn in UTSW Property as You Wrap Up

  Wondering where to turn in your office keys, laptop, flash drive, and other UT Southwestern property? Please reach out to your department's administrative team or you may contact HR Administration for guidance at 214-648-9810.

• Employment After Retirement
  • ORP retirees may return to work on the first of the month following retirement without restrictions.
  • TRS retirees should review the Employment After Retirement brochure provided by TRS. (TRS requires a one month break in service before returning to work as a working retiree. This is different from ORP.) 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.

  View Employment After Retirement Details