Planning for Retirement

PLANNING FOR RETIREMENT:
NYU Retirement Benefits Guide document
CLICK HERE to go to NYU’s Planning for Retirement webpage for information on all of your benefits as an NYU retiree.
Be sure to click on the ‘More Benefits’ link.
Here are some retiree benefits you may not be aware of:
VSP Vision Plan – FREE for retirees
Health Advocate – FREE for retirees
$30,000 Basic Life Insurance – FREE for retirees
Life Insurance Claim Form
Life Insurance Beneficiary Designation Form
Note: You must let your beneficiary/survivor know about your
life insurance and how to claim it; NYU does not come looking for a
beneficiary/survivor to pay them the $30,000 when you have died.

Union-Negotiated NYU Staff Pension Plan:
The Summary Plan Description for the NYU Staff Pension Plan will answer all your questions about your defined benefit pension plan;
Milliman Benefits is the NYU Staff Pension Plan administrator. To receive benefits from the NYU Staff Pension Plan, you must submit an application to the Milliman Benefits Service Center, which will provide you with the forms you need. You will be notified of the amount of your benefit and your payment options no later than 90 days after you request a pension. To apply, log in to  Milliman Benefits or call them at 1-866-767-1212.
How is my union-negotiated NYU Staff Pension calculated?
The math for determining your union-negotiated defined benefit pension can be found on page 15 of the Collective Bargaining Agreement, Article 20. When you log in to the Milliman Benefits website it will give you an estimate of how much your monthly pension will be if you are 65 (or over) and retiring immediately. If, having applied for your pension, you believe that Milliman has miscalculated your benefit, you should first contact Milliman for an explanation/resolution. If they do not explain/resolve the issue to your satisfaction then you should contact PeopleLink, NYU’s benefits and payroll service center, at askpeoplelink@nyu.edu or 212-992-5465.

TIAA-CREF –  If you are enrolled in the TIAA-CREF Supplemental Tax Deferred Annuity Plan, contact NYU Retirement Plans Helpline at TIAA at 844-NYU-TIAA (844-698-8422) to learn how to start receiving withdrawals in retirement. You will probably want to schedule an appointment with a TIAA-CREF advisor.

Social Security:
CLICK HERE to apply for Social Security Retirement benefits.