“Preparation is the key to success,” Alexander Graham Bell once said. And when it comes to retirement, this is certainly true. If you’re ready to start preparing for retirement, we’ve got the resources and help you need to ensure a successful transition.
Action steps and resources to consider now.
1. Estimate Your Retirement Income
Retirement Estimator.
Estimate your UCRP pension benefit using the retirement estimator tool on UC Retirement At Your Service (UCRAYS). The estimator takes your annual pay and service credit into account.
Retirement Review.
Want to see what your monthly retirement income could be from all your UC retirement benefits? The personalized Retirement Review lets you view your UCRP pension* benefits together with your accounts in the UC 403(b), 457(b), and DC Plans.
2. Learn More about Retirement Planning
Preparing for Retirement webinar.
Check out the When You’re Ready to Retire section of UCnet to register for a webinar that will cover topics such as understanding UCRP pension benefits, retirement savings and retiree health coverage.
Step-by-step guide to retiring from UC.
While in the When You’re Ready to Retire section of UCnet, click Preparing for Retirement for a step-by-step guide to the process of retiring from UC. For more detail, download one of the many retirement publications.
3. Get One-on-One Support
Retirement Planning.
Get a holistic view of your retirement plan with one-on-one support available from UC at no cost to you, so that you can make well-informed retirement benefits decisions. Common questions include: Will your money last as long as you need it to? How should you withdraw money from your accounts to minimize taxes in retirement? Meet with a UC-dedicated workplace financial consultant by phone or in person, when and where it’s convenient for you. Need assistance in a language other than English? Just let the representative know; consultations are available in over 140 languages. To speak to a workplace financial consultant, call 1-800-558-9182.
Retirement Administration Service Center (RASC).
RASC counselors can answer your UCRP retirement benefits questions and guide you through the UC retirement process when you’ve decided to retire.
To speak to a RASC representative, please call 1-800-888-8267, Monday–Friday, 7:00 a.m.–4:30 p.m. (PT). Please be aware that you may experience a long wait time to speak to a representative. You may also submit a RASC inquiry via secure messaging through your UC Retirement at Your Service (UCRAYS) account.
Tip: Getting help with UC Retirement at Your Service (UCRAYS)
4. Set Your Strategy for Retirement Income
Use the planning tools in NetBenefits® to create a retirement income plan.
A good plan helps organize your finances, guide your decisions, prepare you for the unexpected. Use the planning tools in NetBenefits® to help plan for the retirement you envision. From anywhere in NetBenefits®, just click the Planning link (login required).
Explore the Deferred Lifetime Income option available through the UC Pathway Funds.
Deferred Lifetime Income is designed to let you convert a portion of your UC 403(b), 457(b) or DC Plan balance into fixed monthly payments beginning at age 78, when you may need it most. You can purchase Deferred Lifetime Income for yourself, or for yourself and a spouse. Plus, you can choose a beneficiary to receive any money you used to purchase Deferred Lifetime Income (the premium) that has not already been paid to you.