Tips for Retiring At 65 or Older

Here is information to help you prepare for retirement. Learn more about retirement plans, what steps you need to take to exit the university, and what happens to your benefits when you retire.

Discuss your Retirement

Talk to your supervisor about your retirement and select an effective date for your separation.

  • Classified Employees: Complete the Resignation from State Service Form and indicate that you will be retiring. To submit your resignation in Workday:
    • From the Workday homepage, click on the blue cloud in the upper right corner and
    • Select ‘View Profile’
    • Select ‘Actions' underneath your name
    • Click on Job Change and select resign
    • Complete prompts and select Worker Resignation > Resignation > Retirement.
    • Upload Resignation Form.
  • Administrative/Professional, LOA with Benefits and Postdocs: Complete a Resignation Letter and indicate that you will be retiring.
    • From the Workday homepage, click on the blue cloud in the upper right corner and
    • Select ‘View Profile’
    • Select ‘Actions' underneath your name
    • Click on Job Change and select resign
    • Complete prompts and select Worker Resignation > Resignation > Retirement.
    • Upload Resignation Letter.

Make Arrangements for Health Insurance

If you are age 65 or older when you retire from the university, you are required to enroll in premium-free Medicare Part A (if eligible) and purchase Medicare Part B coverage. Part A helps cover inpatient hospital care, skilled nursing care and hospice and home health care. Part B helps cover medically necessary services such as doctors’ services and outpatient care. Part B also covers some preventive services, including pap tests, flu shots, and screening mammograms. We encourage you to contact Medicare at least three months before you retire to apply for coverage. Call 800-633-4227 for additional information.

If you don’t sign up for Part B when you are first eligible, the cost for Part B may go up 10% for each full 12-month period that you could have had Part B but didn’t sign up for it.

To help cover the cost of medical expenses, eligible retirees can receive a monthly contribution to a PEBP Exchange-HRA based on their date of hire, date of retirement, and total years of service credit earned.

An eligible retiree must obtain and maintain medical coverage through the Medicare Exchange, Via Benefits. TRICARE for Life retirees are not required to enroll in a medical plan; however, they must provide PEBP with a copy of their TRICARE for Life Military ID card front and back and Medicare Parts A and B card. For further information, refer to the PEBP website.

To be eligible to receive the Exchange-HRA as a retiree, you need to meet the following criteria:

Classified Employees

  • Have participated in NVPERS
  • Have at least five years of service credit in NVPERS excluding any service credit purchased
  • Have met the requirements to receive and is receiving retirement income from one of these plans:
    • Nevada Public Employees Retirement System (NVPERS)
    • NSHE Tax Sheltered Annuity Program
    • State of Nevada Deferred Compensation Program

Administrative/Professional

  • Have participated in either the University Retirement Plan Alternative (RPA) or the Nevada Public Employees Retirement System (NVPERS)
  • Have participated in the RPA program for at least five years as a full-time employee or have at least five years of service credit in NVPERS excluding any service credit purchased
  • Have met the requirements to receive and is receiving retirement income from one of these plans:
    • NSHE Retirement Plan Alternative
    • Nevada Public Employees Retirement System (NVPERS)
    • NSHE Tax Sheltered Annuity Program
    • State of Nevada Deferred Compensation Program

LOA with Benefits

  • Have participated in either the University Retirement Plan Alternative (RPA) or the Nevada Public Employees Retirement System (NVPERS) or FICA Alternative Plan
  • Have participated in either the RPA program or FICA Alternative Plan for at least five years as a full-time employee or have at least five years of service credit in NVPERS excluding any service credit purchased
  • Have met the requirements to receive and is receiving retirement income from one of these plans:
    • NSHE Retirement Plan Alternative
    • Nevada Public Employees Retirement System (NVPERS)
    • NSHE Tax Sheltered Annuity Program
    • State of Nevada Deferred Compensation Program
    • FICA Alternative Plan

Meet With a Retirement Counselor

Classified Employees:

A regular PERS classified employee can retire and receive retirement benefits if he or she was hired:

Benefit Eligibility Requirement
Prior to Jan. 1, 2010 On or After Jan. 1, 2010 On or After Jan. 1, 2015
Age 65 with five years of service Age 65 with five years of service Age 65 with five years of service
Age 60 with 10 years of service Age 62 with 10 years of service Age 62 with 10 years of service
Any age with 30 years of service Any age with 30 years of service Age 55 with 30 years of service
    Any age with 33 1/3 years of service

A Police PERS classified employee can retire and receive retirement benefits if he or she was hired:

Benefit Eligibility Requirement
Prior to Jan. 1, 2010 On or After Jan. 1, 2010 On or After Jan. 1, 2015
Age 65 with five years of service Age 65 with five years of service Age 65 with five years of service
Age 55 with 10 years of service Age 60 with 10 years of service Age 60 with 10 years of service
Age 50 with 20 years of service Age 50 with 20 years of service Age 50 with 20 years of service
Any age with 25 years of service Any age with 30 years of service  

Administrative/Professional, LOA with Benefits:

  • Meet with a retirement counselor from the TIAA office at least six months before your intended retirement date. To schedule an appointment, call 800-842-2252. Participants are eligible to withdraw funds from the plan if:
    • Separate employment
    • Are age 62 even if you are still employed
    • Die

Social Security Benefits

Employees who participate in any of the Nevada System of Higher Education (NSHE) mandatory retirement plans (RPA, PERS and FICA Alternative) do not contribute the 6.2% deduction into the federal insurance contribution act (FICA) payroll tax. There is also no employer contribution into FICA. This means that while employed for the NSHE, you will not be gaining any FICA service credits from NSHE. As a result, employees who qualify to receive Social Security benefits and also receive retirement income from the university may see a reduction in their Social Security benefits. This is called the Windfall Elimination Provision (WEP). WEP will reduce your Social Security benefit but will not eliminate it. For more information, visit the Social Security Website.

Schedule Your Offboarding Meeting

Email offboarding@unlv.edu to notify HR that you are planning on retiring and to schedule an offboarding appointment. The benefits representative will discuss options available to you for continuation of benefits, retirement accounts, continuation of voluntary insurance policies, etc.

Discuss Your Time Off

We recommend that you meet with your department leave-keeper to ensure that all of your time off requests are correct in Workday.

  • Administrative Faculty/Professional employees: you are entitled to a payout of your accrued annual (vacation) days up to 48 days unless your appointing authority has directed you in writing to exhaust your leave prior to your last day.
  • Classified employees: if you have completed six months of continuous service, you are entitled to a payment of any unused annual leave.
  • Academic Faculty: you do not accrue annual leave and would not be eligible for a payout
  • Postdocs: you will forfeit any annual leave accrued

Return Department Property

Return department property, including office keys, access cards, or department credit cards.

Settle Any Outstanding Debt Owed to the University

Debts can include but are not limited to library fines and parking citations.

Update Workday

  • Complete any outstanding Inbox items
  • Update your contact information, including your email address. Your UNLV email will end on your last day of employment.
    • Click on ‘View Profile’ in upper right corner in Workday
    • Click on ‘Actions’ and ‘Personal Data’
    • Select ‘Edit Personal Information’
    • Select ‘Change Contact Information’, make changes and ‘Submit’