Home < Retirement and Savings Plans < When You Are Ready to Retire < Important Considerations
Converting Sick Leave to Service Credit: You may convert your unused sick leave to UCRP service credit if you retire within 120 days of leaving UC employment. After 120 days, you lose your sick leave.
Capital Accumulation Provision (CAP) account, if any, is payable in a lump sum when you elect retirement. The CAP payment is eligible for rollover.
If you have Reciprocity with CalPERS, and you retire concurrently from both retirement systems, your salary rates are compared and the higher one is used to calculate your UCRP benefit.
If you are Coordinated with Social Security, your Highest Average Plan Compensation (HAPC) used to calculate your UCRP monthly benefit is slightly reduced to account for the University's contribution to Social Security. If you retire before age 65, you will receive a temporary supplement from UCRP until the month of your 65th birthday. The supplement temporarily restores the Social Security reduction applied to the HAPC.
Taxes: In general your UCRP monthly benefits are subject to federal and state taxes in the year you receive them.
