Faculty & exempt staff retiree benefits
TIAA counseling sessions
TIAA financial consultants are on site regularly to offer one-on-one advice. Counseling sessions are offered at the Perkins Student Center, Trabant and the Tower at STAR. Register for the session and location most convenient for you. No matter where you are in life—just getting started or planning for retirement—a session with a TIAA financial consultant can help you create a plan for your goals.
Exempt Staff Retiree Benefits
Eligibility: Faculty and exempt staff who are, immediately prior to retirement, in positions that are eligible for University match to the University of Delaware Retirement Plan
Plan Administrator: University of Delaware
Who Can Use this Benefit: University of Delaware Retirees and eligible dependents/survivors
Benefit: 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.
Health Insurance Plan Rates: See health insurance rates.
Prescription Drug Coverage: If you elect medical coverage, you are automatically enrolled in the prescription drug program.
- Non-Medicare Plan for active employees and non-Medicare Retirees
- Retirees and/or eligible dependents enrolled in Medicare
Vision: UD Vision benefits
Retiree Life Insurance: MetLife Retiree Life Insurance
Retiree Death Benefit: $7,000 death benefit
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.
Resources: University Age & Service Guidelines:
- any age and 30 years of service
- age 55 and 20 years of service
- age 60 and 15 years of service
- age 65 and 10 years of service
Effective July 1, 2021, individuals will be subject to the following age/service eligibility criteria:
- any age and 30 benefits-eligible years of service
- age and service when combined equal 80 (must be at least age 55 when combined with service; must have at least 15 benefits-eligible years of service when combined with age)
|Age||Service||Total||UD Retirement Eligible||Reason|
|Example 1||55.0||28.0||83.0||Yes||Age + Service is at least 80|
|Example 2||64.5||15.5||80.0||Yes||Age + Service is at least 80|
|Example 3||54.0||32.0||86.0||Yes||Service > 30|
|Example 4||68.0||12.0||80.0||No||Service years < 15|
|Example 5||53.5||26.5||80.0||No||Age < 55|
UD Retirement Gift: MTM Awards: login as a guest
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 phased retirement or pre-retirement leave. After June 30, 2020, faculty must sign their retirement agreement six months prior to their retirement date. Please contact Human Resources when you are ready to begin this process.
Information about retirement options for faculty are located in section 9.8 of the in effect between the University and the American Association of University Professors (AAUP), University of Delaware Chapter.
Exempt Staff Retirement Notification Guidelines
Please contact Human Resources at least three months in advance of your proposed retirement date.