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Planning to Retire

Planning to retire is a major career decision. We recommend that you begin the process early. Members of OPERS and STRS, in particular, can take advantage of their pre-retirement services, including counseling and seminars.

Approaching Retirement

As you approach your intended date of retirement, you should do the following:

  1. Contact your retirement system in advance.
    • OPERS and STRS members: review pertinent information and forms online, contact your state plan to speak with a retirement counselor, or visit their offices in Columbus at least 90 days prior. 
    • If you have an Alternative Retirement Plan (ARP), please contact your ARP vendor advisor to discuss your available options. To be eligible for a sick leave payout when retiring with an ARP, you must receive a taxed distribution from your account.
  2. Provide reasonable notice to your supervisor.
  3. Indicate your intent to retire by completing the Resignation/Retirement Notification form.

Benefit Coverage Upon Retirement

Your Miami benefits, including your health, dental, vision, group life, and accidental death insurance, will terminate on the last day of the month of your retirement date. You have several options for health coverage after retiring:

  • State Retirement Medical Plans: If you are eligible, you may enroll in a medical plan offered by the state retirement systems. Contact your state plan (OPERS: 800-222-7377 or STRS: 888-227-7877) for more information. 
  • Medicare: Contact Medicare (800-633-4227) with questions.
  • COBRA: If you are enrolled in medical, dental, and vision coverage through the University at the time of retirement, but not eligible for OPERS or STRS medical coverage, you may be eligible to arrange for the continuance of this same coverage under COBRA for a maximum period of 18 months. If eligible, you will receive a letter with additional information from Chard Snyder.

Vacation, Sick Leave, and Compensatory Time Payout

If you are eligible upon retirement, you will be paid for unused sick leave, vacation, and compensatory time (according to the applicable University policy) within 90 days of termination. This is called a "terminal payout." 

Terminal payouts are considered income and are therefore subject to taxes. If you wish to defer some or all of the taxes on this payout, you may put the payout into a Supplemental Retirement Plan (e.g., 457 or 403(b) tax-deferred annuity) via payroll deduction. You will not pay taxes on the money until you withdraw it from your annuity account.

Setting up a 457 or 403(b) Plan Deferral

To set up a 457 plan deferral, contact Ohio Deferred Compensation (877-644-6457). 457 plan accounts must be set up (and elections made) at least six weeks prior to the payroll date.

You can create a 403(b) plan deferral by opening a new account with one of our approved Supplemental Retirement Plan vendors. If you are opening a new account, contact your approved vendor as early as possible.

If you already have a Retirement@Work account, log in, and follow the steps to change your final contribution amount.

Please note: Retirement@Work elections must be submitted by the 15th of the month (for monthly payroll) or the Friday prior to the Friday paycheck date (for bi-weekly payroll).

Requesting Terminal Payout Amounts

You may request your terminal payout amount and the paycheck date that the payout will occur by contacting Human Resources (513-529-3927) or Academic Personnel (513-529-6724). You can choose one of the following options: 

  • Request a zero check (i.e., your entire check will be deposited into your annuity account).
  • Defer a portion of the terminal payout by calculating the amount you want to be deferred. (Please calculate this carefully; if the amount you request is greater than your actual terminal payout amount, no deduction will be made and no money will be placed into your annuity account.)

Tuition Fee Waiver Benefit

If you retire from Miami University with at least 10 years of continuous full-time service, you may be eligible for the tuition fee waiver benefit.

For eligibility details, see MUPIM. Request the waiver by completing Tuition Fee Waiver Retiree/Dependent Certification form.

Societies of Miami Emeriti (SOME) and Retirees (SOMR)

The Division of University Advancement facilitates interaction and activities for retirees. Membership in these societies provides ongoing benefits. You will need to acquire a new Miami ID through the Campus Services office (513-529-5000).

For membership details, visit SOME/SOMR.

Our Mission

Working alongside the various departments and units within Miami University, we strive to recruit, cultivate, acknowledge, and involve a diverse pool of talent to fulfill their goals and the overarching goals of the institution.