Thinking About Retiring?

#1. CAN YOU AFFORD TO RETIRE?

 

PENSIONS: Some sources of monthly pension income might include:
  • UC Retirement Plan:
    • Automatically generated pension (and lump sum cash out) estimates are available by logging on to At Your Service Online.
    • Custom estimates can be calculated by following this link.
    • CAP Account (Capital Accumulation Provision): account balance is available by logging on to At Your Service Online.

     

  • Social Security: Click here to link to pension calculators at Social Security Online.

 

RETIREMENT SAVINGS ACCOUNTS:
  • UC Retirement Savings Program: balances are available for the following accounts by logging on to the Fidelity Retirement Services web site NetBenefits:
    • DC Plan (Pretax and After-Tax)
    • Tax-deferred 403(b) Plan
    • 457(b) Deferred Compensation Plan

 

#2. WHAT ABOUT HEALTH INSURANCE AFTER YOU RETIRE?

 

 

#3. MORE INFORMATION ABOUT RETIRING FROM UC:

 

 

Did you know?

UC Retirement Plan pension income isn't subject to Social Security and Medicare taxes. If you are currently paying 6.2% to OASDI (Social Security) and 1.45% to Medicare from each paycheck, know that these deductions will stop when you retire. Some long-term employees who have retired have found that their pension-based take-home pay is actually higher than their take-home pay from paychecks as employees because of this significant difference in taxation!

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