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When you leave UC employment, you stop accruing UCRP service credit when you go off pay status. If you are a UCRP member, you may be eligible for one of the following options upon leaving UC:
- Inactive Membership: If you meet certain criteria, you may retain the right to future retirement benefits by leaving Plan accumulations and CAP balance (if any) in the Plan.
- Refund of Accumulations: You may request a distribution of your Plan accumulations and CAP balance, if any.
- Retirement Income: If you are age 50 or older with at least five years of service credit, you can elect to retire and receive your normal monthly lifetime benefit.
- Lump Sum Cashout: You can receive a present value projection of your lifetime basic retirement income.
Service Credit Buybacks
If you leave UC employment before you complete your buyback payments, you will receive proportional service credit. If you have completed one year or more of payments, you may pay off the balance in a lump sum with a one-time, after-tax payment. No payments will be refunded.
If you leave UC employment involuntarily because of budgetary reasons with less than 5 years of service credit and could satisfy vesting requirements only through an eligible service credit buyback, you may be able to make a lump sum payment before separation on an after-tax basis. Contact your Benefits Office for more information right away.
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Home < Employees < Making Benefit Changes < Job Changes < Leaving UC Employment < UC Retirement Plan Options