Planning to Retire–EXEMPT Staff and Faculty

403(b) Retirement Toolkit   

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

• Retirement Forms and Checklist
• Medical, Dental and Vision Premium Rates
  

• Medicare Supplemental Plan Highlights (if 65 or older) 

• Medicare Eligibility and Enrollment (Updated site coming soon)

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.

Financial Planning Resources

• The UD Financial Planning Center is a free resource to provide financial education and personalized guidance to both UD employees and students. Employees can schedule one-on-one sessions with a Certified Financial Planner (CFP) for personalized coaching on retirement planning, investment and tax planning, and general financial decision-making. These sessions also serve as a learning opportunity for senior students in the Financial Planning major, who will observe the meetings to gain hands-on experience in financial planning and client communication. The Financial Planning Center is located on STAR Campus in the FinTech Innovation Hub. To learn more and to schedule your meeting, please visit https://lerner.udel.edu/centers/financial-planning-center/
• TIAA: Register for sessions at www.TIAA.org/schedulenow or by calling 800-732-8353, weekdays, 8 a.m. to 8 p.m. (ET). We look forward to working with you.

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:

• Highmark Delaware (Starting July 1, 2025)
• Aenta (Starting July 1, 2025)

Prescription Drug Coverage: If you elect medical coverage, you are automatically enrolled in the prescription drug program. 

• CVS Caremark Prescription Plan (Starting July 1, 2025)

Retirees/Eligible Dependents 65 or Older - Medical Benefits 

• Highmark Delaware-Special Medicfill Supplemental Plan
  

• CVS Caremark/SilverScript Prescriptions

Dental:

• Retiree Dental Plan Summary
• Retiree Dental Plan Summary (Mississippi, Montana, Louisiana and Texas residents)
• MetLife Retiree Dental Claim Form

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:

• Starting July 1, 2025 retirement gifts will be distributed via UD's vendor partner O.C. Tanner

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

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.