Steps to Retirement

If you wish to retire from The University of Akron, you must retire under one of the State of Ohio public retirement systems (STRS, SERS, or OPERS) or the Ohio Alternative Retirement Plan. You must complete and file a formal application with the appropriate system. In order to be considered a retiree you must leave UA employment and immediately begin receiving retirement benefits.

State of Ohio Public Retirement Systems (STRS, SERS, OPERS)

  1. It is advisable to schedule an individual counseling session at least three years before you plan to retire and again six to 12 months from retirement. This session can take place in Columbus, at a field location near your home or school, or by phone through and individual teleconference.
  2. Decide on your retirement date (1st day of the month).
  3. Complete and file application with the state retirement system no fewer than 90 days before your anticipated retirement date. Be sure to include all necessary documents.
  4. Notify your department in writing of your specific retirement date which should always be the last day of the month. You are “officially retired” on the first of the following month. For example, your retirement date with UA should be March 31st if your retirement date with the state is April 1st.
  5. You will receive an “Acknowledgement of Retirement” document from the retirement system. This is your proof that you are retiring. Once you have this form, follow the instructions below that pertain to your job classification:
    • Full-time employees must schedule an exit interview with Benefits Administration (ext. 7090). Bring your “Acknowledgement of Retirement” document with you to this meeting.
    • Part-time employees need to notify their department of their intent to retire. You are "officially" retired on the first of the following month. For example, your retirement date with UA should be March 31st if your retirement date with the state is April 1st. The Payroll department will receive the retirement documentation directly from the retirement system. Payroll will then process any final payments due to you. If you are retiring from a state system that sends you an Acknowledgment of Retirement document, please forward that document to Benefits Administration at Zip +4704. No exit interview is required.

Ohio Alternative Retirement Plan (ARP)

  1. Set up an appointment with your ARP provider prior to your anticipated retirement date.
  2. Complete and file any necessary paperwork with your ARP provider. Selected retirement date should be the 1st day of the month.
  3. Notify your department in writing of your specific retirement date which should always be the last day of the month. You are “officially retired” on the first of the following month. For example, your retirement date with UA should be March 31st if your retirement date with ARP is April 1st .
  4. Schedule an exit interview with Benefits Administration (ext. 7090).