Prepare for Retirement

Pre-retirement counseling

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.

Retiring from NAU Workshops

If you are planning on retiring in the next 12 month you are encouraged to attend a Retiring from NAU (HR233) workshop presented by our retirement advisors.

These monthly sessions cover the steps employees need to take in order to retire from NAU.  We will review the benefits available to NAU employee at retirement and the enrollment forms that need to be completed.

The workshops will be held in the Centennial Building Conference Room on the following dates:

• Wednesday, December 18th 10:00 a.m – 11:30 a.m HR Centennial Meeting Room 120

Most workshops will be limited to 10 participants so that we can answer all your questions about retiring from NAU.

To register for a course:

• Log in to LOUIE
• Choose “Self Service”
• Choose “Learning and Development”
• Choose “Request Training Enrollment” to search for training by course name, number, location or date and sign up for specific sessions.
• Once you’ve enrolled in a course session, you will receive a confirmation e-mail letting you know that you are either enrolled or on the wait list. An email reminder will be sent to you a couple days before the session.

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.

COBRA

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.

Life insurance

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.

Short- and long-term disability

These plans are not eligible for continuation into retirement, and will end on the last day worked.

Accrued leave

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.

Vacation leave

Upon retirement you will be paid up to one year of accrued vacation. You can donate any vacation above the maximum to Compassionate Transfer of Leave Program.

Comp time

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.

Additional retiree responsibilities

Electronic Personnel Action Request (e-PAR)

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.

Payroll deductions

Automatic payroll deductions will cease upon retirement. It is your responsibility to contact any vendors to arrange for continuation of payment.