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Eligibility Requirements

An employee is eligible to retire when they have attained the age of 59.5 and have a minimum of ten consecutive years of full-time, benefits eligible service immediately before retiring.

You may want to consult your financial planner, estate planner, tax attorney or a certified public accountant to assist you in planning for your retirement.

In order to receive benefits in a timely manner, start the process well before your retirement date. No two retirements are the same. Each person has their own unique situation.

Consideration: Returning to Work After Retirement

Retirees who return to work at W&L full or part-time will not be able to access their Retiree Health Plan (RHP) or Health Reimbursement Arrangement (HRA) while re-employed. If applicable, this restriction also applies to your spouse/partner. During your period of re-employment, contributions by the university will continue on schedule. You will not be able to request reimbursement for any expenses incurred during your time of re-employment and cannot be reimbursed for Medicare premiums paid during your period of re-employment. Once your employment ends, your RHP or HRA accounts will be reactivated, and reimbursement can be requested for claims incurred after your new separation date.  For questions, please contact Kim Austin or Suzannah Vess.

Health Insurance After Retirement

Retirees age 59.5 until age 65, may continue participating in the group health insurance plan. The retiree spouse (until age 65), and children (until age 26), are also eligible to continue on the University’s group health insurance plan. The University will continue to make contributions consistent with the level provided in the group health plan. At age 65, the University’s health insurance plan ends, Medicare begins.

Retirement Timeline

As Soon As You Decide to Retire

You should notify your supervisor and Human Resources of your intent to retire as soon as you make the decision.

At Least 4-6 Months Before Retirement

Speak with your financial advisor about your projected income and distribution schedule that will meet your needs.

• Fidelity: 800-343-0860
  • Schedule an appointment or call 1-800-642-7131
• TIAA: 800-842-2776
  • Schedule an appointment: 800-842-2252
• You also have access to free, professional, financial planning from SageView, an independent investment advisory firm. You may check the HR website for appointment times on campus.

Three Months Before Retirement

Contact Social Security

For information regarding Social Security benefits, visit with your local Social Security Office or apply for benefits .

Remember to keep a record of your account Username and Password! You might want to share this information with a family member who can access important information on your behalf.

Sign up for Medicare Part B (and A if you have not done this already)

If you are age 65 or older, you will need to enroll in Medicare Parts A & B to be effective on the first of the month following your retirement date. Enrollment can be done when you apply for Social Security.

Two Months Before Retirement

Purchase a Medicare Supplement Plan Policy (also called Medigap)

A Medicare Supplement Plan will help to cover expenses that are not covered by Medicare. Depending on the plan you choose, this could include coverage for Medicare Part A and B deductibles and coinsurance payments. Once you have your Medicare Card with Part B Coverage, you can contact your local insurance agent, shop an exchange, or purchase directly from insurance companies. 

Enroll in Part D Drug Coverage

You will need to have a list of your current medications with dosages and your Medicare card to complete this process. You and your spouse can have different plans.