This checklist is provided to assist you in preparing for retirement. It is not all-inclusive, but rather, a general outline of issues that need at least to be considered. You may have other concerns in addition to those listed here. The suggested time frames may vary depending upon individual circumstances.
___establish a retirement date.
___submit Request for Earnings and Benefit Estimate Statement to the Social Security Administration to determine your account accuracy and retirement income estimate.
___review current vacation leave balance to determine if excess leave needs to be used prior to scheduled retirement date. Include any vacation leave earned up to retirement date.
___contact the Division of Human Resources to discuss vacation and sick leave payouts upon retirement. Contact your tax consultant about the implication the payouts for vacation and sick leave may have on your tax status. This could alter your retirement date.
___contact you retirement plan provider (KPERS or Board of Regents plan provider) and request a retirement income estimate.
___contact your Board of Regents retirement plan provider to send you a retirement application form, including direct deposit application and federal income tax information.
___contact the local Social Security Administration office to discuss retirement income benefits, Medicare - Part B, and working after retirement, if applicable.
___submit a retirement notification to your department—
___consider donating excess vacation or sick leave to the Shared Leave Program. Submit Shared Leave Donation form (pdf) to Division of Human Resources.
___contact the Division of Human Resources to set an appointment to complete an application for retirement (KPERS-15) form (pdf) , annuity selection, and direct deposit for retirement income. This transaction will require copies of birth certificates (you and spouse) and marriage certificates to show proof of name change, if applicable. Discuss continuation of group health insurance after retirement. Discuss continuation of TEA life insurance and conversion of KPERS basic and Optional Group Life insurance after retirement.
___review designation of beneficiary forms and update, as necessary.
___discuss continuation of group health insurance after retirement. Discuss continuation of TEA life insurance and conversion of KPERS basic and Optional Group Life Insurance after retirement.
___review designation of beneficiary forms an update, as necessary.
___decide if you want Voluntary Tax-Sheltered Annuity deducted from final lump sum paycheck and/or cancel deduction, if appropriate.
___consider modifying W-4 form (pdf) to increase exemptions from withholding to avoid over withholding on lump sum leave payouts with final paycheck.
___sign Change or Separation Form in department administrative office terminating employment as a retirement.
___complete a Group Health Insurance Change and Termination Form in department administrative office or Division of Human Resources, if not previously accomplished.
___clear any outstanding accounts (i.e., library, bookstore, parking services, etc.). Complete University and department clearance requirements PER-24 Employee Separation Checklist form (pdf) (i.e., keys, uniforms, equipment, etc.).
___turn into the Division of Human Resources your Visa Business Travel Card, if applicable.
___have employee identification card overprinted at the K-State Student Union ID Center.
___contact Parking Services for clearing account and determining eligibility for a campus parking permit.
___contact Computing and Telecommunications Services concerning eligibility for internet access and maintaining a computing account.
___contact Recreational Services for use of facility.
___contact Media Relations and Marketing for subscribing to the K-Statement.
___contact Student Publications for subscribing to The Collegian.
___clean out desk, office space, etc.
___Enjoy!
___complete life insurance conversion forms within 31 days after retirement date if considering conversion of KPERS basic and Optional Group Life Insurance to an individual whole life insurance policy.
Related KSU
Policy and Procedures Manual Chapter:
4810 Retirement
Plans, Policies and Procedures