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Retirement Information




Retirement Procedures

Retirement Procedures

The procedures outlined below have been developed to assist employees of Northern Illinois University with the retirement process. Any questions regarding the information provided should be directed to Human Resource Services at (815) 753-6000.

  1. Employees considering retirement should familiarize themselves with the SURS website and the valuable information it provides:
    1. SURS Website - http://www.surs.org
    2. SURS Retirement Planning Checklist - http://surs.org/pdfs/joint/RetireChecklist.pdf
    3. SURS Retirement FAQs - http://surs.org/retirement-faq
    4. SURS Resources on Pension Reform - http://surs.org/news-article/030614/learn-facts-about-pension-reform
  2. Employees who have decided upon a retirement date should contact SURS (800-275-7877 or www.SURS.org) for a retirement application. Additionally, below are links to the retirement applications for the three SURS retirement plans:
    1. Traditional Plan Retirement Application - http://surs.org/pdfs/forms/RetAppTrad.pdf
    2. Portable Plan Retirement Application - http://surs.org/pdfs/forms/RetAppPort.pdf
    3. Self-Managed Plan Retirement Application - http://surs.org/pdfs/forms/RetAppSMP.pdf

    * Retirement applications should be filed directly with SURS with as much notice as possible in advance of the planned retirement date.
    *Employees with reciprocal service (TRS, SERS, IMRF, etc.) should contact the applicable system for a retirement application.

  3. Once employees have decided to retire, they need to formally resign their positions at NIU:
    1. Faculty and SPS employees should provide a retirement letter to their department chairs or supervisors notifying them of their last day of employment and their planned retirement date with SURS.
    2. Civil Service employees need to complete a separation form with Human Resource Services. Appointments are not required.

    * It is important that notice be provided as soon as possible to avoid delays or overpayment. Although not required, this is typically no less than 30 days prior to the last day worked.

  4. All employees who are retiring are required to submit their final Benefit Usage Report or Hourly Time Sheets to the Payroll Office.
    1. Faculty, SPS, and exempt Civil Service employees need to submit their final Benefit Usage Reports to the Payroll Office by their last day of work to avoid any delays in their final benefit payout.
    2. Hourly Civil Service employees need to submit their final Hourly Time Sheets to the department office on their last day of work to avoid any delays in their final benefit payouts.
  5. Employees who would like to defer any portion of their sick/vacation payouts to their 403(b) or 457(b) plans should contact Human Resource Services to complete the necessary paperwork.
    1. NIU 403(b) Supplemental Retirement Plan Salary Contribution Agreement -
      http://www.hr.niu.edu/GO/SCA403b
      1. Completed forms should be turned into Human Resource Services 14 days prior to the employee’s last day of work.
    2. State Employees 457(b) Deferred Compensation Plan Enrollment Form -
      http://www.hr.niu.edu/GO/SEDCP457b
      State Employees Deferred Compensation Plan Beneficiary Election Form -
      http://www.hr.niu.edu/GO/SEDCPBeneficiaryElectionForm/
      1. Completed forms should be turned into Human Resource Services 60 days prior to the employee’s last day of work.
  6. Employees wishing to make changes to their tax withholding should complete a new Form W4 and submit it to the Payroll Office 8 days before their last day of work. If this change is only for the benefit payout, employees should write ‘Payout Only’ on the top of the form.
    1. Form W4 - http://www.hr.niu.edu/GO/FormW4
  7. Employees who choose to have their last day of work be a date other than the last day of the month, should contact the Insurance Office at 753-6000 to discuss any impact this may have on their insurance coverage.
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  9. Faculty who are on 9-month contracts and are paid over 9 months (pay is not spread over 12 months) and are retiring on June 1, 2014, should contact Human Resource Services at 753-6000 to discuss options to receive their final regular paychecks.
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  11. Before their last day of work, employees should complete the exit checklist process with their chairs, directors, or supervisors.
    1. Exit Check List - http://www.hr.niu.edu/GO/ExitChecklist

Other General Information: