Retiring Employees

Learn about Individualized Retirement Counseling.
Read the University of Nebraska Retirement Benefits Summary.
Learn about Emeriti benefits.

Every effort has been made to provide an accurate summary of the university's benefits program. However, if there is a conflict between this material and the documents and contracts, the documents and contracts will govern. While the university hopes to offer these programs indefinitely, it has the right to amend or terminate any benefit plan.

Eligibility

Eligibility for University of Nebraska retirement benefits includes the following:

  • Employees age 55-62 with over with 10 years of service.
  • Employees age 62 or older with no service requirement.
  • An employee, regardless of age, is eligible for a Disability Retirement should a physical or mental disability prevent satisfactory work performance. Approval of a Disability Retirement is predicated on 1) the disabled employee's obtainment of a Social Security Disability Award, or 2) long term disability benefits approval by the group long term disability insurance company. A Disability Retirement for an academic/administrative staff and faculty member must be approved by the Board of Regents.

Social Security Benefits

Social Security retirement benefits may be commenced as early as age 62 although monthly benefit payments will be reduced. Social Security benefits may also be delayed until age 70 which will increase the monthly benefit payment amount.

Illustrations depicting estimated Social Security income at age 65 are available upon request to the Social Security Administration.

To apply for Social Security benefits, individuals should contact the local Social Security Administration office at 800-772-1213 at least three months prior to the retirement date.

Medicare insurance

Medicare Insurance consists of two parts: Hospital Insurance (Part A) and Medical Insurance (Part B). Medicare is effective the first day of the month the retiree or their spouse attains age 65. If the retiree is already receiving Social Security benefits, enrollment in Medicare Parts A and B is automatic and beneficiaries will be notified and receive their Medicare Identification card approximately three months prior to their 65th birthday. In most cases, there is no premium for Medicare Part A. Enrollment in Medicare Part B, however, requires a monthly premium that is automatically deducted from the Social Security benefit check.

Employees who continue to work after age 65 while participating in the university's group medical insurance plan (as an active employee) should delay enrollment in Medicare Part B during active employment. As an active employee, group medical insurance coverage will be the primary insurer of medical benefits, thus Medicare Part B is not required. Once Medicare Part B has been delayed due to participation in the university's group medical insurance plan (as an active employee), Medicare Part B enrollment should be requested 3 months prior to retirement.

Supplemental Salary Payment

Office/Service employees who are hired before January 1, 2019, and who retire from the University before July 1, 2035, shall receive a supplemental salary payment equal to 1/4 of their unused accrued sick leave up to a maximum 360 hours with the rate of payment equal to the regular rate of pay at the time of retirement.

Normal retirement requirements of being at least 55 years of age and having at least 10 years of University service must be met in order to retire from the University and receive the 1/4 supplemental salary payment.

Office and Service employees hired on or after January 1, 2019, will not be eligible to receive the 1/4 supplemental salary payment upon retirement.

Miscellaneous benefits

  • Season football tickets can be continued at faculty/staff rates if the retiree is a current season ticket holder and has been for at least 10 consecutive years.
  • Retirees and their eligible dependents may participate in the Tuition Scholarship Program.
  • Campus Recreation membership can be retained at faculty/staff rates at the time of retirement.
  • Library privileges can be continued.
  • Emeriti parking available through Parking Services.
  • Ability to keep UNL discounted cellular service if retiree held a plan prior to retirement date.