Planning for Retirement

Next Steps in Your Retirement Process

Schedule a Retirement Counseling Appointment

Contact us to schedule a one-on-one consultation with a member of the HR Benefits team to explore retirement options.

Email HRBenefits@umaryland.edu

Maryland State Retirement and Pension System (Pension Plan)

We’ve got your back when it comes time to retire. Review the step-by-step guides and explore the related links to familiarize yourself with the process of filing for the Maryland State Retirement and Pension Plan.

Step by Step

1. Register for mySRPS, Maryland State Retirement Agency's online system.
2. Attend a State Pension Pre-Retirement Webinars/Seminars:
   • Pre-Retirement Planning webinar providing a general overview of Maryland State Retirement and Pension System (MSRPS) benefits – including a general description of retirement eligibility and benefits provided by the MSRPS for members of the Employees, Teachers and Correctional Officers Retirement Systems. Register for a General Overview
3. Three (3) to four (4) months prior to retirement, meet with a UMB Benefits Specialist to review the retirement process, obtain the necessary retirement forms, and go over any questions.
4. Thirty (30) to sixty (60) days prior to retirement, complete all retirement forms and return them to the HRS Benefits Office.
5. Two (2) to four (4) weeks prior to retirement, notify the department supervisor, department payroll representative, and the HRS Benefits Office in writing of your retirement date. A minimum retirement notice of 2 weeks is required for a nonexempt employee and 4 weeks for an exempt employee. The department payroll representative will complete an ePAF indicating the retirement.

Optional Retirement Plan (ORP)

If you are enrolled in the Optional Retirement Plan (ORP), make sure you prepare in advance of your final day to set up your disbursement schedule and additional benefits.

Step by Step

1. Three (3) to four (4) months prior to retirement, meet with a UMB Benefits Specialist to obtain the necessary retirement forms and review any questions. Retirement dates are the first of the month.
2. Thirty (30) to sixty (60) days prior, complete all retirement forms and return them to the HRS Benefits Office.
3. The HRS Benefits Office will review the forms for completeness and forward them to the Department of Budget and Management (DBM) to determine eligibility and subsidy for retiree healthcare.
4. Meet with the ORP vendor representative to set up an annuity or periodic distribution for retirement. Get Program Contact Info.
5. Two (2) or four (4) weeks prior to retirement, notify the department supervisor, department payroll representative, and the HRS Benefits Office in writing of the retirement date. A minimum retirement notice of two (2) weeks’ notice is required for a nonexempt employee and four (4) weeks for an exempt employee.
6. The department payroll representative will complete an ePAF indicating retirement.
7. DBM will send the new retiree healthcare coupons for use when making monthly retiree healthcare payments.

Medicare Eligibility

Visit the U.S. Social Security website to learn more about your medicare eligibility and benefits.

Visit the U.S. Social Security website