STEPS TO RETIREMENT
The following information provides a general checklist of CSU East Bay and CalPERS retirement procedures. Use this information along with your CalPERS Retirement Planning Checklist to complete your retirement process.
One Year Before Retirement:
RESEARCH YOUR RETIREMENT OPTIONS
- Attend on-site retirement planning workshops sponsored by Human Resources
- CalPERS Retirement Planning (provided by CalPERS)
- Financial Planning Workshop – (CalPERS regional headquarters) OPTIONAL
- Review your finances and/or discuss your plans with a financial planner
- Review options for purchasing additional CalPERS service credits (i.e., “Air Time”, Difference-in Pay Leaves, Sabbatical, Maternity, Military)
- Service credit buyback must be received by CalPERS prior to your retirement date
- You may request a Service Credit Buyback application from the CalPERS web site
- Receive a calculation estimate of your monthly retirement allowance from CalPERS
- Select a (tentative) retirement date.
- Review the “Frequently asked questions” document regarding retirement on the Retirement tools
Within Three to Six Months:
MEET WITH A RETIREMENT SPECIALIST in Human Resources
- Contact the Human Resources Benefits Office – schedule a retirement counseling session and a review of benefits. Spouses and/or partners are welcome to attend OR contact CalPERS to meet with a Retirement specialist
- Review: Retirement Date, Health benefits after retirement, Eligible dependent benefits, Survivor continuation and Beneficiary options
- Contact Social Security for Social security and Medicare counseling (if applicable) *If you will be age 65 when you retire – discuss your options for Medicare
Within 90 Days:
COMPLETE RETIREMENT PROCESS
- If Medicare eligible – contact Social Security and request enrollment procedures
*There are many other rules associated with Medicare enrollment including penalties for not enrolling in Part B at Retirement and age 65.
- Complete and submit your CalPERS retirement application to Human Resources for sick leave certification
- Submit your CalPERS application to CalPERS by mail or in person (must be notarized by a notary or CalPERS office).
- Begin the Clearance process with your Department Office administrator
- Notify your Department and Human Resources of your retirement in writing by email or letter (contact your Department administrator for notification procedure)
30 Days – Last Day Worked:
- Complete clearance process: turn in keys, books, equipment to the appropriate offices for clearance signature; submit completed clearance form to Human Resources on or before last day at work.
Congratulations on your successful retirement!
If you have any questions regarding benefits please email us at: HR@csueastbay.edu