Eligibility
Age and service requirements
To be classified as retiree of the University, an individual must meet the age and service requirements below as well as be benefits eligible at the time of retirement from Northwestern.
Age at Retirement | Years of Continuous Service Required as of the Date of Retirement | |
---|---|---|
Full Time | Part Time | |
55 | 10 | 10 |
56 | 10 | 10 |
57 | 10 | 10 |
58 | 9 | 10 |
59 | 8 | 10 |
60 | 7 | 10 |
61 | 6 | 9 |
62 | 5 | 8 |
63 | 5 | 7 |
64 | 5 | 6 |
65 | 2 | 2 |
NOTE: A retiree may elect the University's pre-65 retiree health, dental, and vision plans, based on their benefits enrollment at retirement, within 31-days of retirement only. The Annual Open Enrollment period for pre-65 retirees only allows changes between plans, not new enrollment or adding coverage for a family member who was not covered by the plan at the date of retirement. Post-65 retirees may pick-up the Group Medicare Advantage plan at retirement or during Open Enrollment each year, regardless of whether you were enrolled in benefits at the time of retirement.
403(b) Retirement Plan and Voluntary Savings Plan
As you prepare for retirement, consider evaluating your retirement income and eligibility to access your retiree plan funds.
Prepare for retirement by evaluating your retirement income:
- Review the benefits, eligible earnings and contribution limits for Northwestern University Retirement Plan.
- Make an appointment to meet with a representative from Fidelity or TIAA.
- Review information on when you can access your 403(b) funds.