Executive Summary
So that persons retiring from employment at the University of North Carolina at Charlotte may receive retirement benefits promptly, the employee’s application for retirement must be filed sufficiently in advance of the established retirement date to permit processing. The University’s Benefits Office, located in the Department of Human Resources, is available to provide assistance and advice to all University employees regarding retirement matters.
I. Procedure
To prevent a delay in the receipt of retirement benefits, University employees who are members of the Teachers’ and State Employees’ Retirement System (TSERS) must contact the Benefits Office to file the application at least 120 days before the established retirement date. All other University employees eligible for retirement benefits are members of the “Optional Retirement Plan” (Fidelity, Lincoln National, TIAA-CREF and/or VALIC). These individuals should contact the Benefits Office at least 120 days before the established retirement date.
Full-time tenured Faculty Members may be eligible to participate in the Phased Retirement Program developed by the Board of Governors and administered by the Benefits Office. Interested Faculty Members should contact the Benefits Office to determine eligibility and dates for enrollment in the Program. T
he staff of the Benefits Office is available to members of the UNC Charlotte faculty and staff to provide pre-retirement information and to answer questions about retirement benefits. Members of either system (TSERS or Optional Retirement Plan) may also make such inquiries directly to the appropriate retirement plan.
Policy Revisions
Revised May 24, 2011
This University Policy has been revised because the Retirement Systems Division has extended the time period in which an individual may complete his/her retirement application from 90 days to 120 days.
Revised November 19, 2001
Substantive revisions reflect a department name change, an update to the Optional Retirement Program and investment carriers, a requirement that employees who are members of TSERS file an application for retirement at least 90 days prior to the established retirement date, removal of an obsolete paragraph from the policy, a reference to the Phased Retirement Program and modified procedures.