Preparing for Your Retirement
I’ve decided to retire, now what?
- Review the eligibility requirements to retire as outlined in the Retirement Benefits Policy.
NOTE: If you are a faculty member, please review the Faculty Retirement Planning Program for additional information.
- Determine a retirement date and notify your Supervisor/Department Chair of your intent to retire.
NOTE: The retirement date is defined as your actual last day of work.
- Two to three months prior to your retirement date, contact the Social Security Administration to complete Medicare Part B Enrollment. NOTE: Provide Baylor Human Resources the Request for Employment Information form. This will be completed and returned to you.
- Contact VIA Benefits to opt into the Health Reimbursement Arrangement (HRA) and to enroll into a Medicare Supplement Plan.
- If desired, you may initiate Retirement Plan Account distributions or rollover requests directly with TIAA.
- Visit Parking Services located at the Speight Plaza Parking Facility 1521 S. 4th St. Waco, TX 76706 to request an ID Card & Parking Permit Authorization. You will complete this to receive your retiree and retiree spouse ID cards. You can also call 254.710.2211.
- Complete and return the Separation Processing Form to Baylor Human Resources.
- Return the following items to Baylor University:
• Baylor purchased and owned equipment (cell phone, laptop, monitors, iPad, etc.)
• Your Baylor F/S ID Card (spouse/dependent cards, if applicable)
• Any Keys that have been issued to you.
- Complete the Exit Interview Survey.
- CONGRATULATIONS! Enjoy Retirement!
What do I do about health insurance?
Make sure you pay special attention to the instructions in STEPS 3 & 4 regarding Medicare & Via Benefits enrollment.
After your retirement date, Wex Health, Inc. will send you a welcome letter to provide you with an opportunity to make Continuation of Insurance Coverage elections.
Use the buttons below for details on retiree health insurance options.
NOTE: If applicable, file any Health Savings Accounts (HSA) reimbursement claims through BenefitWallet and any Flexible Spending Account (FSA)/Dependent Care Flexible Spending Account (DFSA) reimbursement claims through WageWorks within 30 days after your retirement date or an election through Wex Health, Inc. to continue your account through December 31.
NOTE: If applicable, you will need to submit Flexible Spending Account (FSA)/Dependent Care Flexible Spending Account (DFSA) reimbursement claims through Health Equity within 30 days after your retirement date or an election through Wex Health, Inc. to continue to have access to your flexible spending account through December 31.
What benefits will I have access to once I’m retired?
To assist in the enjoyment of your retirement, the retiree benefit chart gives an overview of what Baylor University has to offer retirees. These and other benefit advantages provide convenient opportunities for the wellbeing of Baylor retirees and their family.
Who can help me with the retirement process or questions?
FOR STAFF: Please contact Baylor Human Resources by calling 254.710.2000 or emailing askHR@baylor.edu.
FOR FACULTY: Please contact your Business Officer, the Provost Office, or email askHR@baylor.edu.