Retirement Planning FAQs

• Employees hired before July 1, 2013 are in the UCRP 1976 Tier.
• Employees hired or rehired between July 1, 2013, and June 30, 2016 are in the UCRP 2013 Tier.
• Employees hired or rehired on or after July 1, 2016 fall under UCRP 2016 Retirement Choice*.

* If you are hired or rehired into an eligible appointment on or after July 1, 2016, following a tier break in service, you are subject to the 2016 Retirement Choice Program. Newly-hired eligible employees belonging to a bargaining unit may not be eligible for the Retirement Choice Program. Instead, you are automatically enrolled in the UCRP 2013 Tier.

Your separation date is your last day on pay status as an employee and your retirement date is the effective date from which the retirement system starts paying you.

Your unused vacation hours will be paid out to you in your final pay check. Alternatively, you can use your vacation hours up to your separation date with management approval.

Technically, no – the vacation payout is not eligible to be rolled over. However, you can adjust your 403(b) or 457b contribution amount/percentage to coincide with a larger contribution to be taken from your final check. Consult with your retirement counselor as to the timing of when those changes should be made.

1. If you retire within 120 days of your separation date, your sick leave balance converts to UCRP (UC Retirement Plan) service credit, increasing your UCRP service credit total. Note sick leave converted to service credit cannot be used to reach the five years of service credit needed to vest and be eligible for retirement benefits. The sick leave conversion is also not factored in to the lump sum cashout calculation.
2. If you do not retire within 120 days from separating UC employment, your ending sick leave balance will not convert to UCRP service credit when you retire in the future.

No, it does not. The sick leave conversion will result in additional UCRP service credit which will increase your UCRP benefit. It has no impact on your separation date.

The earliest that UC can initiate your retirement paperwork is within 90 days of your targeted retirement date. This does not mean that you have to provide a 90-day notice though. This means that to avoid any potential delays with your UCRP benefit payments, you should initiate the request about 90 days in advance. This way there should be no delays as the retirement system will need approximately 60 days to fully process your retirement once they have received your signed election.

Generally, the only documentation required at the time of retirement will be one’s documentation of their date of marriage or partnership, if applicable. If the retiree will be electing an alternative payment option, then documentation of the contingent annuitant’s date of birth (copy of passport or birth certificate) is required as well.

1. Generally it is advisable to let your supervisor/department know your intentions as early as possible. Typically this is communicated in person followed up by an email for the record.
2. At the same time you notify your supervisor/department, it is also advisable for you to notify your HR generalist of your intent to retire.

Yes, up to the applicable limits. Please note that salaries categorized as ‘Y’ and ‘Z’ are not included.

1. Your UCRP balance represents the contributions and interest you made to help fund your UCRP benefit. When you retire, that balance is swept in to the overall UCRP pool and is not paid out as a separate benefit.
2. If you have a CAP balance, you will need to decide how to take distribution of those funds at the time of retirement. The distribution can be paid as a lump sum to you and be subject to taxes and possibly early distribution penalties. Alternatively, you can request a direct rollover of your CAP balance to a qualified retirement plan and defer the taxes on those funds.

Please refer to your Confirmation Letter from the UC Retirement Administration Service Center (RASC) for the timing of your CAP distribution.

Generally, coverage ends on the last day of the month of your separation. For employees retiring directly from employment, UCSF will extend your health coverage for one additional month beyond your month of separation. Please know that a COBRA packet will automatically be mailed out to all retirees approximately two weeks after their separation. If you are eligible for retiree health continuation through the retirement system, that coverage normally starts on the day following your UCSF coverage end date and you can disregard the COBRA notice. Retirees not eligible for retiree health continuation should explore COBRA as well as options available through the Affordable Care Act if applicable.

Your UCRP benefit is paid monthly. Generally, you will receive your initial UCRP monthly benefit on the first of the month following your effective retirement date if there are no delays (i.e., Aug. 1 for a July retirement date). If your initial payment is delayed, then it will be paid the following month and include the retroactive payment to your effective retirement date.

To access your pension statement you must register for an account via UCRAYS. Once you are registered, you can print your pension statement for the month. The statement shows your pension amount, your cost for health plans that you are enrolled in and your federal and state tax withholdings.

• For campus employees, call 415-476-1400 for assistance.
• For Health employees, call RASC at 800-888-8267 for assistance.