Planning for Retirement

Wherever you are in your career, there are steps you can take today to plan for a successful retirement. In this section you can browse resources and register for classes to help you get ready to retire.

Thinking About Retirement?

For your reference, download a quick retirement planning guide and timeline or a one-page overview of retirement resources at U-M. 

Register to attend a retirement planning class. 

Learn more about Social Security and Medicare.

Review age- and service-based milestones on your road to retirement.

Your U-M Benefits and Unused Vacation or Paid Time Off at Retirement

You will want to plan ahead and understand what happens to your U-M Benefits in retirement. Unused accrual of vacation or paid time off (PTO) will be paid to you shortly after retirement.  Once you have submitted your final time sheet and your department approves it, a check will be issued to you typically within a few weeks after you have retired. This payment is not eligible for contributions for the Basic Retirement Plan although individuals subject to a collective bargaining agreement should refer to the terms of their contract.

Have Questions or Need to Talk?

Schedule a free appointment with TIAA or Fidelity to discuss your savings progress, retirement income strategy and investment options. You can also 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.

Contact Mental Health Counseling and Consultation Services to explore any personal or career concerns related to this significant life transition. (It’s free and completely confidential.)