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Planning for Retirement

Also visit:  UMS Retiree webpage for more retiree information

ANNOUNCEMENTS

• 2011 Planning for Retirement Seminar Video
• Important Changes to Retiree Health Insurance Coverage

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The University of Maine System, Office of Human Resources is pleased to provide employee "Planning for Retirement" seminars.  These annual half-day seminars are designed to help employees begin thinking about and actually make financial plans for their retirement years. Even if employees intend to continue working for some time, experts agree that advance planning is extremely important to help assure a secure and satisfying retirement. We are therefore extending invitations to employees and their spouse/partner to attend the seminar beIng offered at their campus. Due to space limitations, we are restricted to inviting employees who are at least age 40 or age 45 depending on the campus (please see below).

The seminar will cover several major topics, including:

• financial planning
• Social Security
• the University's retirement programs
• University life and health insurance benefits now and in retirement

Guest speakers will be presenting several of the topics.

Below is the schedule which indicates the date, time, and location for this year's seminars. If possible, please register 7 days prior to your seminar date. Unfortunately, we will be unable to provide refreshments at this year's seminars; therefore, please feel free to bring your own.

The University of Maine System is committed to providing access to people with disabilities. Anyone needing an accommodation to participate in the "Planning for Retirement" program should contact their campus benefits office in advance of that campus' scheduled date.

 

 

2013 Seminar Schedule

Campus	Age	Date & Time	Location
UM Hourly	45 & over	Friday, April 12 8:15 am - 12:30 pm	Wells Conference Center
UM Faculty & Salaried	45 & over	Thursday, April 11 8:15 am - 12:30 pm	Wells Conference Center
UMA	40 & over	Thursday, April 18 8:15 am - 12:30 pm	Jewett Hall Auditorium
UMM	40 & over	Tuesday, April 23 8:15 am - 12:30 pm	Clipper Lounge, Sennett Hall
USM (Portland)	45 & over	Thursday, April 25 8:30 am - 12:30 pm	University Events Room, Glickman Library LOCATION CHANGE:  Hannaford Hall, Abromson Community Education Center
System Office	40 & over	Tuesday, April 16 8:15 am - 12:30 pm	Room 205, 16 Central St., Bangor This location is full to capacity.

 

2013 Seminar Handouts

Please print the 2013 handouts you want and bring with you to the seminar.

Planning for Retirement

• Retirement Guide for Salaried Employees
• Retirement Guide for Hourly Employees

Understanding Your Financial Situation

Social Security	Effects of Inflation
How Do I Stand?	Housing Options After Retirement
Monthly Expenses - Now & in Retirement	What Can You Do About Family Living Costs?

Medical, Dental & Other Benefits Information

Life Insurance	Dental Coverage Dental Election Form
Health Plan- Current Coverage	Health Coverage Health Election Form
Health Rates for Retirees & Widows/Widowers	Retiree Health Coverage Opt Out and Re-enrollment Provision
Medicare Prescription Drug Coverage (Medicare Part D)	Retiree ACH Debit Authorization

Retirement Income

Early Retirement Checklist	Tax Sheltered Annuities
Incentive Retirement Plan (IRP) Application for IRP	Partial/Phased Retirement Program (PPRP) Application for PPRP
Payout Options- Basic TIAA-CREF Retirement Program (Salaried)	Payout Options- TIAA-CREF Optional Retirement Savings Plan (Hourly Employees 1998 and before) Options at Retirement Application for Benefits Designation of Beneficiary
Payout Options- Basic TIAA-CREF Retirement Program (Hourly)

Other Helpful Retirement Tips

• Ten Rules for Good Mental Health in Retirement
• Legal Tips from the Better Business Bureau
• Glossary of Legal Terms Relative to Wills

Planning for Retirement Seminar Evaluation Form

Related Information

• 403(b)/457(b) Universal Availability Notice
• Salary Reduction Agreement for Faculty & Professional Employees
• Salary Reduction Agreement for Hourly-paid Employees
• Incentive Retirement Plan Policy
  • Incentive Retirement Plan Application
• Partial/Phased Retirement Plan Policy
  • Partial/Phased Retirement Plan Agreement
  • Partial/Phased Retirement Plan Application
• TIAA-CREF website
• 457(b) Deferred Compensation Plan
  
• Faculty & Professional Retirement Plan Description
  • (Plan Description- PDF Version)
  • Faculty & Salaried Retirement Plan Payout Options
• Hourly-Paid Basic Retirement Plan
  • (Plan Description - PDF Version)
  • Hourly-Paid Retirement Plan Payout Options
    
• Optional Retirement Plan for Classified Staff (Formerly Defined Benefit Plan NCRP)
  • (Plan Description - PDF Version)
  • Classified Retirement Plan Payout Options
  • Classified Retirement Plan Application for Benefits
  • Classified Retirement Plan Designation of Beneficiary
• Retirement Guide for Salaried Employees
• Retirement Guide for Hourly Employees
• TIAA-CREF website
• 457(b) Deferred Compensation Plan
  
• Faculty & Professional Retirement Plan Description (PDF)
• Hourly-Paid Basic Retirement Plan (PDF)
  
• Retirement Plan for Classified Staff (Formerly Defined Benefit Plan NCRP) (PDF)
• Optional Retirement Savings Plan for Classified Employees (PDF)
  
• Salary Reduction Agreement for Faculty & Professional Employees
• Salary Reduction Agreement for Hourly-paid Employees
• UMS Retiree website
• Social Security Retirement Estimator

 

Contact Benefits

The above is a brief summary of retirement benefits offered by the University of Maine System. If you would like to discuss your retirement options, contact your local University Office of Human Resources.

If you have a question about your benefits coverage, benefit deduction amounts or any other benefit related question, contact the Employee Benefits Center toll-free at 1-866-269-9635 (or local 973-3373) or email benefits@maine.edu.  Be prepared to give your Employee ID number.

 

Last Updated:  April 22, 2013->