Prepare for Retirement
Human Resources provides a pre-retirement counseling session to employees planning on retiring in the next three months.
During your counseling session you will learn about the following:
- The steps you need to take to Retire from NAU
- The paperwork that you will need to be completed
- Benefits available to retirees
- The Retiree Accumulated Sick Leave Program
Because we will need to assemble a personalized retirement packet please schedule your meeting at least 48 hours in advance.
Review the ‘Guide to Retiring from NAU’
Is parking provided for my pre-retirement counseling session?
No special parking is available for pre-retirement counseling sessions. Year-round, a vehicle must display a valid permit to park on campus. Temporary permits can be purchased at the kiosk located near the entrances to campus or by contacting Parking and Shuttle Services at 928-523-6623.
Health, dental, and vision insurance
Learn more about your retirement health plan options.
Northern Arizona University is required by law to provide employees separating from the University COBRA information and enrollment forms. Shortly after your last day of work, you will receive a COBRA packet from Human Resources. If you decide to continue medical coverage as a retiree, please disregard this packet.
Employee Assistance and Wellness (EAW)
Retirees on the university’s Blue Cross Blue Shield (BCBS) plan are eligible for the wellness programs and short-term counseling and referral services offered by Employee Assistance and Wellness. Retirees enrolled in state health insurance plans are eligible to attend Wellness Workshop Series programs.
Employees enrolled in Aetna Life Insurance upon retirement may continue coverage if they were enrolled in Aetna Life Insurance as an active employee. Currently, the retiree group policy is $15,000 of coverage for an annual premium of $215.
Employees enrolled in The Hartford life insurance upon retirement may continue the $15,000 Basic Life coverage (paid by NAU while an active employee) or The Hartford life insurance enrolled in as an active employee.
Premiums are subject to change. Enrollment forms will be included in the retirement packet you receive at the retirement counseling session.
Continuing your current life coverage Accordion Closed
During the 31 days immediately following the termination of your life insurance coverage, you may elect to continue your current supplemental life insurance coverage (known as porting) or you may convert it to whole life insurance. Term life insurance provides a death benefit only, while whole life provides cash value. Both The Hartford and Aetna Life Insurance offer portability and conversion options. Contact your provider for more information on costs.
|Aetna Life||The Hartford|
Group or Control# 320471
|Policy # 395211|
Short- and long-term disability
These plans are not eligible for continuation into retirement, and will end on the last day worked.
Retiree Accumulated Sick Leave (RASL) program
To qualify for the RASL program, you must:
- be an active university employee retiring with a minimum of 500 hours of accrued sick leave
- establish your retirement within 31 days of separation from the university
- apply for retirement with the appropriate state retirement system
RASL payments are distributed in three equal payments over three years. The first payment usually arrives 90 days after separation. Unused sick leave under 500 hours will not be paid.
Review the details of the Arizona RASL program
RASL deferred compensation option
Retirees may defer their first RASL payment to a 457(b) plan with the State-sponsored deferred compensation provider, Nationwide Retirement Solutions.
All accrued comp time will be paid out on the last paycheck.
Arizona Board of Regents (ABOR) Benefits
Additional benefits are offered to retirees through ABOR. To be eligible for these benefits, retirees must:
- have completed at least five (5) years of benefit eligible employment in the Arizona university system immediately preceding retirement
- be receiving a retirement income from an Arizona university sponsored retirement program
- be at least fifty (50) years of age, and
- must have not been terminated for cause
Your ID card will be are automatically updated to retiree status. You must keep your ID to be eligible for additional benefits.
|Educational aid||Retiree and eligible dependents can take advantage of educational opportunities at any of the three state universities at a reduced tuition rate.|
|Bookstore||Retirees receive a 10% discount on most purchases at the university bookstore.|
|Recreation Center||Retirees may continue to receive discounted prices at the Recreation Centerand Wall Aquatic Center.|
|Library||Many of Cline Library's services are available to retirees.|
|Parking permit||Retirees that are members of the Northern Arizona University Retirees Association (NAURA) are eligible for a limited parking pass. Contact NAURA for detail|
Additional retiree responsibilities
You are responsible for communicating with Your department about your intent to retire. This is best done with a written letter of retirement. The department will process a “retirement” e-PAR (electronic Personnel Action Request form) and submit it to the Human Resources Department. You are encouraged to ensure your department follows through with the e-PAR process.
Notify health and retirement plan providers
You are responsible for keeping your personal information up-to-date as well as notifying your health and retirement plan providers of your retirement.
Automatic payroll deductions will cease upon retirement. It is your responsibility to contact any vendors to arrange for continuation of payment.