Management Topic: Retirement Planning & Resources
Dear Colleagues,
We are quickly approaching that time of year again, when many of our staff members choose to close one chapter of life and begin the next: retirement. Although retirement brings the joys of celebrating the end of a fulfilling UCLA career, knowing where to begin the retirement process can be daunting. This month’s article will provide helpful information to managers and supervisors about where to begin the retirement process, available resources for staff, and ensure you know where to refer your team members when you don’t have all the answers.
We recognize there are many resources for employees to explore in regards to UC Retirement programs and benefits, and it can be overwhelming. We recommend the following to get you started:
- myUCretirement.com opens a new window: This site is your source for “All Things Retirement.” Staff at any point within their UC career should become familiar with this website and its many helpful tools, including:
- Viewing your UC Retirement Review (retirement income estimates), to see the retirement income you could have from all your UC benefits
- Managing your UCRP pension and DC Plan accounts
- One-on-one, personal help with financial planning questions at no cost
- Financial classes opens a new window and events
- Tips and tools
- And more!
- Financial Webinars by UC opens a new window: Employees can gather information and increase their knowledge of the UC Retirement programs and benefits via these online webinars, which can also be repeated. Employees can email any follow-up questions to their retirement counselor (see contacts below).
- UCnet: opens a new window Employees can use the search window to find anything they want at UCnet.
Please Note:
- All retirement processes are now done online via the UC RAYS (Retirement at Your Service) website opens a new window.
- Employees must use UC RAYS to initiate their retirements, make their pension elections, and submit any personal documents (e.g. a PDF copy of their marriage certificate). Further, only an employee can run their own pension estimates. This can be done by visiting the UC RAYS website opens a new window.
- Please note: If an employee plans to retire on July 1, it’s recommended that they start this process as early in April as possible.
- Employees should register on UC RAYS opens a new window. Active University employees can use UC RAYS to:
- Run UCRP pension estimates
- View their UCRP service credit
- Apply for UCRP Disability
- Submit a UCRP service credit verification
- Initiate and process their retirement
Whom to Contact & When:
- The UC Retirement Administration Service Center (RASC) opens a new window is the office in charge of the University of California Retirement Plan (UCRP). RASC should be contacted regarding any questions about the processing of an employee’s retirement. UC counselors can answer your retirement benefit questions. Contact RASC online opens a new window or by phone Monday – Friday, 8:30 a.m. to 4:30 p.m. at 1 (800) 888-8267.
RASC can be contacted for questions regarding:- Retirement benefits counseling and document preparation
- Retirement estimates
- Service credit verifications
- UCRP disability counseling and administration
- Beneficiary changes
- Qualified Domestic Relations Order (QDRO) opens a new window counseling and administration for UCRP
- UCRP benefit calculations (retiree, survivor, and UCRP Disability)
- UCLA Retirement Counselors (please note that all pre-retirement counseling is conducted remotely via Zoom appointment or email):
- Camille Carr (Serving those with last names A-K)
- Robert Larriva (Serving those with last names L-Z)
- The Health Care Facilitator Program is a resource to active employees, retirees, and their eligible family members. Their goal is to give you the tools and resources to be proactive and be your best advocate about your health plan. Some of their services include help on the following:
- Access issues with your medical, dental, or vision benefits
- Escalated billing issues
- Comparing UC health plans and benefits
- Medicare questions & forms
- Before contacting your Health Care Facilitator (HCF), you are encouraged to reach out to your health insurance company first, as HCFs serve over 54,000 active employees and 18,000 retirees. However, for issues you are not able to resolve on your own, please reach out by sending an email to the dedicated Health Care Facilitator inbox: HCFHelp@chr.ucla.edu(link sends email). For additional information on this program, please view the HCF Program brochure opens a new window.
Other Helpful Websites to Bookmark:
- Fidelity Retirement Services opens a new window: Supplemental retirement benefits like your 403(b), 457(b), or after-tax DC Plan can be managed via this site. Fidelity also provides a Planning & Guidance Center that allows you to create and monitor multiple independent financial goals.
- UCnet Retirement Benefits opens a new window: For comprehensive information regarding your UC retirement benefits.
- UC Santa Cruz Staff HR: Retirement FAQ’s opens a new window
- UCLA Campus Human Resources opens a new window
Interested in reviewing prior months’ topics? Visit our Monthly Management Tips website.
Do you have feedback, questions or a suggested topic you would like to learn more about? Please email: managementtips@ucla.edu(link sends email).
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