How-To Guide for Employees Ready to Retire
Retirement marks a new phase of your life. If you plan to retire within the next year, contact your campus HR office or Benefits and Retirement Services to request a personal counseling session.
Following are some quick references.
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- TCRS, JCRS: Complete the state forms to begin retirement Early Service Retirement 10-2012 TR0020
- JCRS & ORP: Contact ING, TIAA-CREF or VALIC if you wish to begin distribution/transfer/withdrawal of these funds.
- CSRS, CSRS Offset & FERS: Complete the federal forms to begin retirement
- TCRS, JCRS, ORP, CSRS, FERS: Complete the Benefits Administration form to continue insurance coverage Application to Continue Insurance at Retirement FA-1045
- ORP, CSRS, FERS: Complete the Benefits Administration form to automatically pay your insurance premium from your bank account. Individual Authorization Agreement for Preauthorized Payment (ACH) FA-0928
Other UT Benefits
- TCRS, JCRS, ORP, CSRS, FERS: Complete your campus form to continue your NetID or email address with the University of Tennessee.
- Contact MedAmerica to arrange payment for Long-Term Care coverage if you are having the premium payroll deducted. To speak to a representative, please call Customer Service at 1-866-615-LTCi (5824).
Other Insurance Matters
- If older than 65, go to your local Social Security office two to three months prior to retirement to sign up for Medicare Part B.
- Contact your campus HR office for the Request for Employment Information CMS-L564 form or pick up this form from the Social Security office and have it completed by your campus HR office. This form qualifies your late enrollment into Medicare under its Special Enrollment Provision without penalties.
- Sign up for Medicare Part D online:
- To enroll in Part D, select “Find health & drug plans.” Have a list of all of your prescriptions and dosages. Enroll in one of the available plans one month prior to your UT coverage ending
Other Monetary Matters
- Complete and mail forms to your deferred compensation providers.
- You are not required to move these funds but will be required by the IRS to do a minimum distribution once you have left UT and are age 70 ½.
- Ask Empower Retirement for the Distribution/Direct Rollover Request form. It must be completed to start receiving funds (partial or total withdrawal) or to transfer funds to another account.
- 401(k) – Empower Retirement (#98986-02) @ 800-922-7772
- 457(b) – Empower Retirement (#98986-01) @ 800-922-7772
- Complete and mail form to 403b provider to withdraw/transfer/begin benefit from the 403(b) funds.
- Ameriprise – (#) 800-862-7919
- Fidelity – (#50232) 800-835-5097
- ING – (#VT0057) 866-776-6704
- TIAA – (#102587) 800-842-2252
- VALIC – (#) 800-44VALIC(82542)
- Thrift Saving Program (TSP): @ TSP-YOU-FRST (877-968-3778)
- For total or partial lump sum withdrawals or rollovers from your 401(k) and/or 457 plan, please contact Empower Retirement at 800-922-7772 option 2.
- For retirees older than age 70 ½ who wish to set up future withdrawals at the IRS permitted minimum levels, please complete and submit the applicable form:
- Additional forms for retirees include:
- To begin your Social Security benefit, contact Social Security (800-772-1213) if you are age 62 or older. You can also do this online.