Retirement

Click here to apply for retirement under TCRS online. Turn in forms to mdavis30@utm.edu to continue insurance at retirement (after you apply for retirement online).

 

Continuing Insurance at Retirement forms, premiums and information. Turn in forms to mdavis30@utm.edu to continue insurance at retirement after you apply for retirement online.

 

Forms for TCRS Employees Continuing Insurance at Retirement

Forms for ORP Employees Continuing Insurance at Retirement

Contact

Marsha Davis

marshad@utm.edu

731-881-7850

Retirement monetary information TCRS and ORP

All Deferred Compensation forms, questions, updates and changes including 401k/403/457 under this section as of July 1, 2020.

 

Contact TCRS.CustomerSupport@tn.gov or complete the forms on their website https://retirereadytn.empower-retirement.com/participant/#/login. Contact information to ask questions listed on the website. This will not be processed in Human Resources after July 1, 2020 please contact RetireReady for questions or help.

 

TCRS Self-Service forms and guidelines

 

All regular, full-time employees must participate in one of the state of Tennessee’s retirement plans.

 

Regular, part-time employees may join a retirement plan. Those who elect to participate are subject to the same terms and conditions as members with mandatory participation.

 

If you have any questions, please contact the Interim Benefits Specialist, Marsha Davis, at marshad@utm.edu or 731-881-7850

 

Salary Reduction 403B Plan Enrollment Form

Continuing Insurance at Retirement

 

If you are retired please call the following number— to make changes or if you have questions about your insurance.

 

Benefits Administration

General Benefits Questions and Plan Administration

615.741.3590

800.253.9981

Monday–Friday, 8 am to 4:30 pm CT

Retire Ready: TCRS Retirement Contacts

Retire Ready Tennessee:

Tennessee Consolidated Retirement System and the Tennessee Deferred Compensation Program

 

Toll-Free: 800-922-7772

Talk in-person to a representative 8 a.m. – 7 p.m. Central Time

Telecommunication Device for Deaf Persons: (TDD) 800-766-4952

Online TCRS Member Accounts

TCRS

Andrew Jackson Building, 15th Floor

502 Deaderick Street

Nashville, TN 37243-0201

 

Empower Retirement Advisory Services are offered by Advised Assets Group, LLC (AAG), a federally registered investment adviser and wholly owned subsidiary of Great-West Life & Annuity Insurance Company. More information about AAG can be found at www.adviserinfo.sec.gov.

The Tennessee Plan/UMR/POMCO Contact Information

 Premiums or enrollment status: Call the State of TN, Benefits Administration at 1.800.253.9981

Online portalhttps://www.umr.com/thetennesseeplaninfo

What should I do if I need to go to the doctor/hospital: Present your Medicare card and your Tennessee Plan UMR card

Lost your card: Contact customer service at 1.888.477.9307

How can I contact UMR/POMCO: 1.888.477.9307 Mon - Fri 7 am - 5 pm CST

How can I contact Medicare: 1.800.MEDICARE (1.800.633.4227)

Tennessee Consolidated Retirement System (TCRS)

TCRS is a “defined benefit” plan, which means the amount of retirement is determined by a formula rather than an account balance. Benefits are determined using the member’s highest five-year average salary and years of service.

 

Click a heading below to expand/collapse information

 

Retiring from UT

Continuation of NetID and Email Account in Retirement

For retiring faculty/staff (with 10+ years of service) to retain their email and NetID.

Post Retirement Agreement

For rehiring retiring faculty.

What happens to my retirement plan when I Leave the University

https://treasury.tn.gov/Retirement/Retire-Ready-Tennessee/Discover-RetireReadyTN

https://treasury.tn.gov/Retirement/Retire-Ready-Tennessee/for-Retirees

If you are not eligible for retirement upon separation of employment, your retirement plans may have rollover/withdrawal options. If you are considering either option, you can contact your retirement plan for assistance. There are restrictions and penalties associated with withdrawals that you may want to consider prior to deciding.

TCRS Legacy (hired prior to 7/1/14)

Must meet retirement eligibility for benefits.

TCRS Hybrid (hired 7/1/14 or after)

Eligible for employee 5% contribution and interest only

Forfeit UT contributions

Forfeit retirement credit

Taxes and other penalties may apply

May continue TCRSH if employed by another covered State of TN employer

For forms and additional information, please contact Retire Ready TN at 1-800-770-8277

Optional Retirement Program (ORP)

Members eligible for 100% withdrawal or rollover

Taxes and other penalties may apply

Contact your company for specific information about the distribution or rollover process.

· VOYA 1-800-262-3862

· TIAA 1-800-842-2252

· VALIC 1-800-892-5558 ext. 88369

John Hancock Retirement (ULPS Faculty Practice)

Members eligible for 100% withdrawal or rollover

Taxes and other penalties may apply

Contact John Hancock for additional information 1-855-543-6765

Rollover and Distribution instructions with your UT Plan Administrator/Employer Approval

You may be asked for the plan administrator signature or employer approval when completing paperwork for rollover or distributions. If so, forward your completed application to the Plan Administrators in Knoxville directly to the UT Systems Retirement office:

The University of Tennessee
HR East Service Center
115 Conference Center Bldg.
600 Henley St
Knoxville, TN 37996-4115
Phone: 888-444-8847

Tax Deferred Annuities

All tax deferred annuity plans have withdrawal or rollover options upon separation.

401k;457- Empower Retirement

Eligible for 100% withdrawal or rollover

Penalties and taxes may apply

Contact Retire Ready TN regarding the 401k/457: 1-800-770-8277 or log onto your account at www.retireready.tn.gov

403b

Eligible for 100% withdrawal or rollover

Penalties and taxes may apply

Contact your 403b provider for information.

Providers

Ameriprise Financial: Plan #113650; 2923 Ameriprise Financial Center Minneapolis, MN 55474; 800.328.8300

Fidelity Investments: Plan #50232; 82 Devonshire Street, M31 Boston, MA 02109; 800.343.0860; Jeff Givens, CFP®; Phone: 865.315.4122; Fax: 859.392.6600; Jeffrey.Givens@fmr.com

TIAA: Plan #02138; 730 Third Avenue, New York, NY 10017; 800.842.2733

Valic: Plan #02138; 100 Ashford Center North, Suite 100, Atlanta, GA 37338; 800.426.3753

VOYA: Plan# VT0057; 800.584.6001

Eligibility

Exempt Faculty and Staff

Regular faculty and exempt staff (those not eligible for overtime) can choose between membership in the Tennessee Consolidated Retirement System (TCRS) or the Optional Retirement Program (ORP).

Non-Exempt Staff

Regular non-exempt staff (those eligible for overtime) are covered in the Tennessee Consolidated Retirement System (TCRS).

Employees Not Eligible to Participate in a Retirement Plan

Those not eligible to participate in retirement plans are:

  • Student workers
  • Temporary employees
  • Medical residents
  • Interns and externs
  • Non-U.S. citizens who do not pay Social Security or Medicare taxes
  • State retirees eligible to participate in the Tennessee Retiree Group Insurance Program

Retirement monetary information TCRS and ORP

All Deferred Compensation forms, questions, updates and changes including 401k/403/457 under this section as of July 1, 2020.

 

Contact TCRS.CustomerSupport@tn.gov or complete the forms on their website https://retirereadytn.empower-retirement.com/participant/#/login. Contact information to ask questions listed on the website. This will not be processed in Human Resources after July 1, 2020 please contact RetireReady for questions or help.

 

TCRS Self-Service forms and guidelines

 

 

 

 

 

 

Plans

The Tennessee Plan/UMR/POMCO Contact Information

  • Premiums or enrollment status: Call the State of TN, Benefits Administration at 1.800.253.9981
  • Online portal: https://www.umr.com/thetennesseeplaninfo
  • What should I do if I need to go to the doctor/hospital: Present your Medicare card and your Tennessee Plan UMR card
  • Lost your card: Contact customer service at 1.888.477.9307
  • How can I contact UMR/POMCO: 1.888.477.9307 Mon - Fri 7 am - 5 pm CST
  • How can I contact Medicare: 1.800.MEDICARE (1.800.633.4227)

Tennessee Consolidated Retirement System (TCRS)

TCRS is a “defined benefit” plan, which means the amount of retirement is determined by a formula rather than an account balance. Benefits are determined using the member’s highest five-year average salary and years of service.

 

Learn More about TCRS

  • Hybrid (TCRS-H/401-H) (For employees hired after July 1, 2014)
    • Employer contribution is 8.94 percent of compensation
    • Mandatory employee contribution is 5 percent of compensation
  • Legacy (TCRS) (For employees hired Before July 1, 2014)
    • No mandatory employee contribution

Manage Your TCRS Account Online

 

TCRS has introduced a new online self-service feature, allowing members to:

  • Update contact information
  • View account history
  • Retrieve annual statements
  • Maintain beneficiary information

If you are among the 7,500 UT employees currently participating in the TCRS plan, you can access the new self-service feature by registering at http://treasury.tn.gov/tcrs/. A user guide and demonstration video are available to walk you through the process. Questions may be directed to 800-770-8277, option 8.

Optional Retirement Program (ORP)

The ORP is a “defined contribution” retirement plan, which means the amount of retirement benefits will be determined by the member’s account balance. Annuity providers in the ORP are:

Learn More about ORP

Manage Your ORP Account Online:

All changes and enrollment for Retire Ready TN and Empower must be completed online https://retirereadytn.empower-retirement.com/participant/#/login?accu=TennesseeWR

EMPOWER RETIREMENT 800-922-7772

UTM Empower/Retire Ready TN Contact (615) 564-7002 Allan Landstreet Allan.Landstreet@empower-retirement.com

 

ORP UTM Representatives

 

TIAA

 

TIAA Contacts

 

Speak with a Representative: 800-842-2776

Automated Telephone Service: 800-842-2252

Schedule an In-Office Appointment: 800-732-8353

 

UT Contacts

 

Brian Nanney (Memphis): 901-801-6206

TIAA Beneficiary Form

 

VALIC

 

AIG Valic Contact

 

Customer Care Center: 800-448-2542 or 888-568-2542

 

UT Contacts

 

Justin Howell: 731-668-9818 (phone), 731-664-7988 (fax)

 

VOYA

 

VOYA Contacts

 

Customer Service: 800-525-4225

 

UTM Contacts

Justin Howell (Primary) jhowell@voyafa.com 731-663-9818

 

UT Contacts

 

Brad Little: 731-668-9818 (phone), 731-664-7988 (fax)

Steve Little: 731-668-9818 (phone), 731-664-7988 (fax)

Closed Retirement Programs

Joint Contributory Retirement System (JCRS)

(Closed since 7/1/77)

 

If you were a member of TIAA-CREF (the only retirement plan available) on June 30, 1977, you are a member of the Joint Contributory Retirement System (JCRS). JCRS has been closed since July 1, 1977. JCRS provides a benefit from the Optional Retirement Plan (ORP) company with the possibility of a state component.

 

To determine if a participant will receive a state benefit, it will be necessary to perform the Tennessee Consolidated Retirement System formula, then apply a hypothetical offset to the state formula benefit. The formula benefit and offset are individually specific. To request an estimate of benefits, please contact 888-444-UTHR (8847) statewide or Knox area 865-946-UTHR (8847).

 

Civil Service Retirement System (CSRS)

(Closed since 12/31/83)

 

CSRS Information

 

Federal Employees Retirement System (FERS)

(Closed to UT employees since 01/01/02)

 

FERS Information

 

Deferred Compensation

Seminars and Personalized Consultation

Benefit Calculators

To take advantage of benefit calculators, you will need to know your individual retirement plan. This information is available on your Personalized Benefits Statement:

  1. Visit the Personalized Benefits Statement website,/
  2. Select Employee Self-Service
  3. Benefits and Payment
  4. Personalized Benefits Statement.
  5. Under UT Paid Retirement is the name of your retirement plan. (Example: CSRS, FERS, JCRS, ORP, TCRS)

Retirement Plans

It’s easy to get an estimate of how much money you’ll receive each month.

 

Employees enrolled in the Tennessee Consolidated Retirement System (TCRS) or one of the three closed plans should contact Marsha Davis at 731-881-7850 or marshad@utm.edu

 

Employees enrolled in the Optional Retirement Plan (ORP) should contact VOYA (ING), TIAA-CREF or VALIC.

Deferred Compensation Plans

Ask your 401(k), 403(b) and/or 457(b) deferred compensation plan providers to run projections for how much your investments will total by your projected retirement date and what the lump sum total will be versus annuitized monthly payments.

 

401(k), 457(b) Plans

 

All changes and enrollment for Retire Ready TN and Empower must be completed online https://retirereadytn.empower-retirement.com/participant/#/login?accu=TennesseeWR

 

Empower Retirement - 800-922-7772

 

403(b) Plans

 

Ameriprise - 800-862-7919

Fidelity - 800-835-5097

VOYA - 866-776-6704

TIAA-CREF - 800-842-2252

VALIC - 800-448-2542

 

Thrift Saving Program

Thrift Saving Program (TSP) - 877-968-3778

 

Guide to Retirement

Retirement marks a new phase of your life. If you plan to retire within the next year, contact your campus HR office or Benefits and Retirement Services to request a personal counseling session.

 

Following are some quick references.

Retirement Plans

Insurances

Other UT Benefits

  • TCRS, JCRS, ORP, CSRS, FERS: Complete your campus form to continue your NetID or email address with the University of Tennessee.
  • Contact MedAmerica to arrange payment for Long-Term Care coverage if you are having the premium payroll deducted. To speak to a representative, please call Customer Service at 1-866-615-LTCi (5824).
  • service-retirement-benefit-7-2016 (PDF)

Other Insurance Matters

  • If older than 65, go to your local Social Security office two to three months prior to retirement to sign up for Medicare Part B.
    • Contact your campus HR office for the Request for Employment Information CMS-L564 form (PDF) or pick up this form from the Social Security office and have it completed by your campus HR office. This form qualifies your late enrollment into Medicare under its Special Enrollment Provision without penalties.
  • Sign up for Medicare Part D online:
    • To enroll in Part D, select “Find health & drug plans.” Have a list of all of your prescriptions and dosages. Enroll in one of the available plans one month prior to your UT coverage ending

Other Monetary Matters

 

Leaving the University

If you are not eligible for retirement upon separation of employment, your retirement plans may have rollover/withdrawal options. If you are considering either option, you can contact your retirement plan for assistance. There are restrictions and penalties associated with withdrawals that you may want to consider prior to deciding.

TCRS Legacy (hired prior to 7/1/14)

  • Must meet retirement eligibility for benefits.

TCRS Hybrid (hired 7/1/14 or after)

  • Eligible for employee 5% contribution and interest only
  • Forfeit UT contributions
  • Forfeit retirement credit
  • Taxes and other penalties may apply
  • May continue TCRSH if employed by another covered State of TN employer

For forms and additional information, please contact Retire Ready TN at 1-800-770-8277

Optional Retirement Program (ORP)

  • Members eligible for 100% withdrawal or rollover
  • Taxes and other penalties may apply

Contact your company for specific information about the distribution or rollover process.

  • VOYA 1-800-262-3862
  • TIAA 1-800-842-2252
  • VALIC 1-800-892-5558 ext. 88369

John Hancock Retirement (ULPS Faculty Practice)

  • Members eligible for 100% withdrawal or rollover
  • Taxes and other penalties may apply

Contact John Hancock for additional information 1-855-543-6765

Plan Administrator/Employer Approval

You may be asked for the plan administrator signature or employer approval when completing paperwork for rollover or distributions. If so, forward your completed application to the Plan Administrators in Knoxville: Christian Houston christian.houston@tennessee.edu or Jon Gushen jgushen@utk.edu.

 

OR mail your completed application directly to the UT Systems Retirement office:

 

The University of Tennessee
HR East Service Center
115 Conference Center Bldg.
600 Henley St
Knoxville, TN 37996-4115
Phone: 888-444-8847

Tax Deferred Annuities

All tax deferred annuity plans have withdrawal or rollover options upon separation.

401k;457- Empower Retirement

  • Eligible for 100% withdrawal or rollover
  • Penalties and taxes may apply

Contact Retire Ready TN regarding the 401k/457: 1-800-770-8277 or log onto your account at www.retireready.tn.gov

403b

  • Eligible for 100% withdrawal or rollover
  • Penalties and taxes may apply

Contact your 403b provider for information.

Providers

Ameriprise Financial: Plan #113650; 2923 Ameriprise Financial Center Minneapolis, MN 55474; 800.328.8300

 

Fidelity Investments: Plan #50232; 82 Devonshire Street, M31 Boston, MA 02109; 800.343.0860; Jeff Givens, CFP®; Phone: 865.315.4122; Fax: 859.392.6600; Jeffrey.Givens@fmr.com

 

TIAA: Plan #02138; 730 Third Avenue, New York, NY 10017; 800.842.2733

 

Valic: Plan #02138; 100 Ashford Center North, Suite 100, Atlanta, GA 37338; 800.426.3753

 

VOYA: Plan# VT0057; 800.584.6001

 

TNSHIP Medicare Information and Help

The Tennessee Plan for retirees

Prescription Drugs

Prescription drugs are not covered under the Tennessee Plan and all supplemental plan members are encouraged to enroll in Medicare Part D for prescription drug needs. Look for information about plans in your area in the Medicare and your Handbook. If you have access to the internet, Medicare has a tool available on their website which will assist you in narrowing the choices of prescription drug plans based upon the drugs you are presently taking. You may also call Medicare at 800.MEDICARE (800.633.4227) to obtain additional information.

 

Click here for the State Notice of Creditable Coverage.

Medicare Website

 

Related Links

Annual Security and Fire Report (PDF)

Requisition Request in IRIS (PDF)

Contact

Gwendolyn Hopkins
Administrative Assistant III
(731) 881-7845