Planning for Retirement

Successful retirement requires planning. To help you create a complete retirement plan, this section explains how to determine when you are eligible for retirement, what happens to your benefits in retirement, and your income options in retirement.

To learn more about preparing for retirement:

  • Attend a planning for retirement class presented by the Benefits Office. 
  • Get answers to your brief retirement questions at drop-in hours offered regularly at many campus locations. There's no need to register. Upcoming sessions include:
    • Tuesday, August 8 - Trotter Multicultural Center - 10:00 a.m. to 3:00 p.m.
    • Thursday, August 10 - Pierpont Commons (North Campus) - 10:00 a.m. to 3:00 p.m. (with TIAA and Fidelity Investments representatives)
    • Tuesday, August 15 - Kipke Conference Center, Room 2029 - 10:00 a.m. to 3:00 p.m. (with Fidelity Investments representatives)
    • Thursday, August 24 - Michigan Union, Pond Room - 10:00 a.m. to 3:00 p.m. (with TIAA and Fidelity Investments representatives)
  • Attend a Social Security and Medicare presentation by a Social Security Administration claims specialist.
  • Schedule a free one-on-one session with TIAA (800) 732-8353 or Fidelity Investments (800) 642-7131. A retirement planning specialist can help estimate how much income you will need in retirement, discuss retirement income plans, identify ways to save more and invest more efficiently, and assist with tax considerations.
  • Register for live webinars at TIAA Virtual Environment. Topics include basic estate planning, foundations of investing, managing income and debt, and dismantling myths about annuities, or visit tiaa.org/umich to register for financial education seminars in your area.
  • Review Milestones on Your Road to Retirement

General Personal Counseling

As you face your retirement from the University of Michigan, you may wish to explore personal or career concerns you have related to this significant life transition. The Faculty and Staff Assistance Program (FASAP) is a resource that assists faculty and staff with a range of life issues.  Licensed counselors are available to meet with you, listen to your experience and consider options or resources.  The service is confidential and at no charge to you.  For further information or to arrange an appointment contact FASAP at fasap@umich.edu or call 936-8660.