Planning to Retire–EXEMPT Staff and Faculty

Human Resources

For faculty and exempt staff considering or who have decided to retire from the University, this page offers everything they need to know about the process and the steps they need to take for a smooth transition to retirement.

As always, members of the Total Rewards Team are here to answer questions and guide employees through this significant stage in their life and career.

Congratulations on reaching this important milestone, and sincerest thanks for working and contributing to the University of Delaware.

403(b) Retirement Toolkit

Please contact Human Resources at least four months in advance of your proposed retirement date.

Medicare Eligibility and Enrollment

Important: Please use the Secure Document Submission Form to provide HR with important documents. Log-in with your Employee ID and password and follow the directions on the form.

Faculty and eligible exempt staff who satisfy the University’s age and service criteria may apply for health, dental, vision insurance as well as a death benefit through the University of Delaware. University retirees may also participate in the retiree-paid University life insurance plan, educational benefits, UD ID card, Wellness Dollars and parking privileges for retirees.

Pre 65 Retirees/Eligible Dependents - Medical Benefits

Health Insurance: See a comparison of the plans.

Online resources:

Prescription Drug Coverage: If you elect medical coverage, you are automatically enrolled in the prescription drug program. https://dhr.delaware.gov/benefits/cvs/index.shtml

Retirees/Eligible Dependents 65 or Older - Medical Benefits

Dental: Dental Plan through the State of Delaware

Vision: UD Vision benefits

Retiree Life Insurance: MetLife Retiree Life Insurance

Retiree Death Benefit: $7,000 death benefit: UD Beneficiary Designation form

Cost: The University sets the benefits contribution rates for health, and vision benefits. Access to retiree dental insurance is provided and rates are set through the Delaware Statewide Benefits Office. See current University of Delaware health insurance rates.

UD Retirement Gift: MTM Awards: login as a guest

Full Information: After retirement, keep up to date on your benefits, life event process, address changes, etc. Retirement Benefits

Effective January 1, 2024, individuals will be subject to the Rule of 75 eligibility criteria:

any age and 30 benefits-eligible years of service
age and service when combined equal 75 (must be at least age 55 when combined with service; must have at least 10 benefits-eligible years of service when combined with age)

Examples

	Age	Service	Total	UD Retirement Eligible	Reason
Example 1	55.0	25.0	80.0	Yes	Age + Service is at least 75
Example 2	65.0	10.0	75.0	Yes	Age + Service is at least 75
Example 3	54.0	32.0	86.0	Yes	Service > 30
Example 4	68.0	8.0	76.0	No	Service years < 10
Example 5	53.5	21.5	75.0	No	Age < 55

Note: A vested employee under the State Employees' Pension Plan cannot collect a pension from the State of Delaware until the employee is no longer an active employee with the University of Delaware.

Faculty Retirement Notification Guidelines

Your retirement agreement should be signed at least six months prior to the beginning of your anticipated date of retirement or phased retirement. Please contact Human Resources when you are ready to begin this process.

Information about retirement options for faculty are located in section 9.7 of the Collective Bargaining Agreement in effect between the University and the American Association of University Professors (AAUP), University of Delaware Chapter.

FAQS