How does layoff impact the employee’s retirement benefits?
The employee stops accruing University of California Retirement Plan (UCRP) service credit on the last day on pay status. If the employee is a UCRP member, he/she may be eligible for one of the following options upon leaving UC: Inactive Membership, Refund of Accumulations, Retirement Income, or Lump Sum Cashout. If the employee is eligible to retire and eligible for Retiree Health benefits, (medical and dental), the retirement date must be within 120 days of separation from UC, and the employee’s medical and dental benefits must still be active up to the retirement date. The employee should call and make an appointment with a Benefits Representative as soon as possible.
