Retiring
You've given your best to Eastern, now it's time to do something for yourself. See the eligibility requirements below, based on your employee classification. The process of retirement is pretty simple. Take a moment and view the guide - As You Retire from EMU [PDF]
- Submit a letter to your supervisor, expressing your intent to retire. A sample notification is available on the Human Resources forms page - Notice of Intent to Retire [PDF]
- You should inform Human Resources and the Benefits Office.
- Contact TIAA or MPSERS to discuss your options, if you haven't already done so.
- 2023 Retirement Plan Contribution Limits
Tools
Contact TIAA: 800-842-2252 (8:00 am to 10:00 PM EST)
EMU Dedicated TIAA Financial Consultant
Shar Banks ChFC®, CFP®
Sr. Financial Consultant | TIAA Financial Solutions
TIAA
2090 Commonwealth Blvd
Ann Arbor, MI 48105
Phone: 734.332.3574
FAX: 614.932.9566
[email protected]
For some helpful information from TIAA about making the most of your retirement, you can read their brochure, Making the Most of Your Retirement [PDF].
It's important to know your options for your employer plan money when you move on. Read about those options, in the document Your Money, Your Options, Your Future [PDF] from TIAA.
Michigan Public School Employees Retirement System retirees are eligible for medical, dental and vision through their specific plan. Contact MPSERS through Michigan's Office of Retirement Services website.
New enhancements are coming to our TIAAA Plans. You can expect enhanced investment options, reduction and transparency in fees to plan participants, new brokerage window option for savvy investors and Roth post tax option to your 457(b) plan.
For more information, please select a document below:
- Transition Guide for TIAA plan enhancements [PDF]
- Presentation regarding TIAA plan enhancements transition [PDF]
- Onsite EMU consultations schedule and contact info [PDF]
- Understanding TIAA Retirement Plan Fees [PDF]
- TIAA Brokerage Account [PDF]
- Retiree Medical-Dental Rates
Please note:
- The ROTH post-tax savings option will be added to your existing 457b plan.
- The combined total contributions under your 457b plan, weather on pre-tax basis or post-tax basis (under the ROTH provision) cannot exceed the current IRS maximum.
- The ROTH does not increase the amount you can contribute annually, per IRS rules and regulations. It simply offers you a post-tax provision.
Emeritus Retirement Information
To gain emeritus status in retirement, you must be nominated by someone in your department after working 15 years at Eastern and it must be approved by the Board of Regents. To read about the benefits of emeritus status, choose if you are faculty [PDF] or staff [PDF].
Retirement Benefits at a Glance
Employee Class: AC
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree with TIAA - Health Care, paid by retiree: Offered to age 65
Retiree with TIAA - Dental, paid by retiree: Offered for life
Retiree with TIAA - Eligible for Medi-Gap after age 65
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: AC Retirement Overview
Employee Class: AH
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree with TIAA - Health Care, paid by retiree: Offered to age 65
Retiree with TIAA - Dental, paid by retiree: Offered for life
Retiree with TIAA - Eligible for Medi-Gap after age 65
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: AH Retirement Overview
Employee Class: AP
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree with TIAA - Health Care, paid by retiree: Offered to age 65
Retiree with TIAA - Dental, paid by retiree: Offered for life
Retiree with TIAA - Eligible for Medi-Gap after age 65
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: AP Retirement Overview
Employee Class: CA
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree with TIAA - Health Care, paid by retiree: Offered to age 65
Retiree with TIAA - Dental, paid by retiree: Offered for life
Retiree with TIAA - Eligible for Medi-Gap after age 65
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: CA Retirement Overview
Employee Class: CP
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree with TIAA - Health Care, paid by retiree: COBRA only
Retiree with TIAA - Dental, paid by retiree: COBRA only
Life Insurance: $4,000
Emeritus Status: 15 YOS with nomination
View: CP Retirement Overview
Employee Class: CS
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree with TIAA - Health Care, paid by retiree: COBRA only
Retiree with TIAA - Dental, paid by retiree: COBRA only
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: CS Retirement Overview
Employee Class: FA
EMU Retirement Benefit Eligibility: Age 55 w/15 YOS or Age 60 w/10 YOS
Retiree of TIAA - Health Care, paid by retiree: Offered to age 65
Retiree of TIAA - Dental, paid by retiree: Offered for life
Retiree of TIAA - Eligible for Medi-Gap after age 65
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: FA Retirement Overview
Employee Class: FM
EMU Retirement Benefit Eligibility: Age 55 w/15 YOS or Age 60 w/10 YOS
Retiree of TIAA - Health Care, paid by retiree: Offered to age 65
Retiree of TIAA - Dental, paid by retiree: Offered to age 65
Life Insurance: $7,000 Age 50 w/10 YOS
Emeritus Status: 15 YOS with nomination
View: FM Retirement Overview
Employee Class: PS
EMU Retirement Benefit Eligibility: Age 50 w/10 YOS
Retiree of TIAA - Health Care, paid by retiree: COBRA only
Retiree of TIAA - Dental, paid by retiree: COBRA only
Life Insurance: $7,000
Emeritus Status: 15 YOS with nomination
View: PS Retirement Overview
Employee Class: PT/PE
EMU Retirement Benefit Eligibility: Age 55 w/15 YOS or Age 60 w/10 YOS
Retiree of TIAA - Health Care, paid by retiree: Offered to age 65
Retiree of TIAA - Dental, paid by retiree: Offered to age 65
Life Insurance: $7,000 Age 50 w/10 YOS
Emeritus Status: 15 YOS with nomination