Retiring from OU

Payflex Is Now Inspira

Inspira


The University's third party administrator, Payflex, is now Inspira. Click here to learn more.

If you would like to enroll in Electronic Funds Transfer to pay your premiums, use this form.

Retiring from OU

As your retirement plans take shape, you don’t have to go it alone. Get expert, in-person help on your own schedule by setting up a one-on-one meeting with an HR retirement coordinator, who can confirm your eligibility and review the retirement process with you. Contact HR to make an appointment and review the online resources here to learn more.

OU Eligibility

You are eligible to retire with benefits from OU if you meet one of the following conditions:

  • Age 62 with at least 10 years of OU benefits-eligible service.
  • When age plus (at least ten) years of benefits-eligible OU service equal 80 or more (Rule of 80);
  • Any age with 25 years of benefits-eligible OU service.
  • An employee is eligible to apply for disability retirement with OU at any age with at least 10 years of benefits-eligible OU service.

Service Credit

All benefits-eligible university employees, with a continuous appointment, who work 20 hours or more per week for six months or longer, can accumulate university service years toward OU retirement eligibility.

Employees who have been long-term or career university employees are rewarded for years of OU service. “University Service” consists of all benefits-eligible University of Oklahoma experience. This does not include temporary time. Employees who were hired prior to January 1, 2002, may receive one year of OU service credited for every four years of verified employment experience in other qualified institutions of higher education. Up to a maximum of five years may be credited.

OU does not provide service credit for any extended leave hours.

Termination Prior To Retirement

Employees who terminate before satisfying the eligibility requirements for university retirement do not receive the retiree benefits package. However, the university does honor all prior OU benefits-eligible service when determining retirement eligibility. Eligibility for retirement from Oklahoma Teachers’ Retirement System does not guarantee eligibility for OU retirement. Qualifications for OU retirement must also be met in order to receive the retiree benefits package. Your most recent benefits-eligible service date is used in determining your eligibility for a university health medical subsidy percentage.

Oklahoma Teachers' Retirement System (OTRS) Eligibility

Rule of 80

OTRS members who joined prior to July 1, 1992, can retire with full benefits from Teachers’ Retirement System by reaching one of the following:

► Age 62 with at least 5 years of OTRS service credit  

► When age plus years of OTRS service credit equal 80 or more (Rule of 80).

Rule of 90

OTRS members who joined on or after July 1, 1992, can retire with full benefits from Teachers’ Retirement System by reaching one of the following:

► Age 62 with at least 5 years of OTRS service credit  

► When age plus years of OTRS service credit equal 90 or more (Rule of 90).        

New Rule of 90

OTRS members who joined on or after November 1, 2011, can retire with full benefits from Teachers’ Retirement System by reaching one of the following:

► Age 65 with at least 5 years of OTRS service credit  

► Age 65 with at least 7 years of OTRS service credit (members who joined after November 1, 2017)

► When age plus years of OTRS service credit equal 90 or more (New Rule of 90), with a minimum age of 60.

Find more information about OTRS here.

Join us for a Retirement Seminar!

Picture1

If you are considering retiring in the next two years, please join us for an informative retirement seminar where our retirement teams will walk you through:

  • Requirements for Retiring from OU & Oklahoma Teachers Retirement System (OTRS)
  • Process / Steps to Retire
  • Retiree Insurance Benefits Information
  • Retirement Income

To enroll, please visit the training calendar and look for "Your OU Retirement."

Help a Colleague with Your PTO

When you leave the university, your Paid Time Off (PTO) balance will be paid to you up to your maximum annual accrual amount. If you have additional accrued PTO above this amount, you may want to consider donating it to the Shared Leave Program.