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To see Basic Retirement Income and Lump Sum Cashout estimates for other ages, click the "View More Ages" link. In most cases estimates are available from your next birthday to age 99.
If you meet the eligibility requirements, you can receive UCRP monthly income when you retire. In addition to this lifetime income for yourself, UCRP offers several payment options that can provide a lifetime monthly income after your death to your spouse, domestic partner, or another person you name. For more information about Postretirement Survivor Continuance, see the Retirement Handbook .
For a more comprehensive estimate, which will include these payment options, click the "View More Monthly Income options" link.
To obtain a more comprehensive estimate, you will be asked to provide the following information:
- If you are married or have a domestic partner, the marriage/domestic partnership date, name and the date of birth of your spouse/domestic partner.
- If you want to name another person as survivor (a contingent annuitant), the name and date of birth of the person.
- If you anticipate a higher HAPC (highest average plan compensation) by the time you retire, the new monthly amount.
- If you anticipate a change in work pattern or completing a service credit buyback, the resulting service credit adjustment.
- If you plan to retire within four months of separating from UC, any accumulated sick leave, which is generally converted to UCRP service credit.
To exit, select another application from the tabs above or click on "Main Menu".
When you are finished, click "Log Off" at the top of the page to end your session.
Timeout
To maintain security and confidentiality, Retirement Estimator will timeout in 20 minutes if there is no activity. If your session does expire, you must sign in again.
Assumptions
The hypothetical projections shown in the Retirement Estimator are based upon available data, current plan assumptions, as well as data provided by you, and are not a guarantee of eligibility or benefit amounts. If you notice any data discrepancies, contact the Retirement Administration Service Center or your local Benefits Office.
Your Basic Retirement Income (BRI) and Lump Sum Cashout (LSC) benefit amounts shown in the Retirement Estimator:
- assume you work until the age(s) shown
- assume you continue to work at your current percentage
- assume your retirement date is your birthday at the age(s) listed or the retirement date you provided
- use your highest average plan compensation (HAPC) without assuming any salary increases, or anticipated monthly compensation at time of retirement amount provided by you
- use the current UCRP retirement age factors from the 1976 tier
- use the current Lump Sum Cashout factors
- are in today's dollars with no adjustment for inflation
Generally, to be eligible for monthly retirement income or the Lump Sum Cashout, you must have at least five years of UCRP service credit as of your separation date and be at least age 50 on your retirement/LSC date.
Please note there are some benefit adjustments which may be made when you actually retire, which may not be taken into account in the estimates shown here. Some, but not all, of the reasons are shown below:
- If there is a Community Property Claim, Qualified Domestic Relations Order (QDRO), spousal or child support order, or federal or state tax levy on file
- If your HAPC is based upon less than 36 months of compensation, reflects a payroll office adjustment (such as a retroactive pay change), or has been manually calculated
- If you are affected by Internal Revenue Code (IRC) Section 401(a)(17) or 415(b) limitations, or eligible for the 415(m) Restoration Plan
- If you have worked under more than one membership classification or multiple Social Security Numbers
- If you have a noncontributory (plan 02) balance or took a leave during the noncontributory period
- If you participated in the Phased retirement or Strict-Full-Time Salary Plan or held a Partial-Year Career or a 9-month appointment
- If you retire with reciprocity with the California Public Employees' Retirement System (CalPERS) or have concurrent retirement with California State Teachers' Retirement System (CalSTRS)
- If you were reinstated after receiving UCRP retirement income, or have previously applied for or received UCRP disability income
- If your service credit needs to be adjusted for any reason, including for sick leave conversion, a buyback in progress, or UCSF/Stanford Healthcare time
The Capital Accumulation Provision (CAP) projections shown in Retirement Estimator assume the following:
- you leave the CAP money in the account until the age(s) shown
- are in today's dollars with no adjustment for inflation
- CAP allocations made in 1992-1994 earn interest equal to an annual percentage yield of 8.5%
- CAP allocations made in 2002-2003 earn interest equal to the UCRP assumed earnings rate, currently an annual percentage yield of 7.25%
Glossary
Accumulated Sick Leave is generally converted to UCRP service credit at the rate of eight hours of sick leave for one day of service credit, if you retire within four months of separating from UC. Sick leave is not converted to service credit in the Lump Sum Cashout calculation.
Anticipated Monthly Compensation at Retirement If you anticipate a different rate of covered compensation at retirement, enter the new monthly pay amount in the Anticipated Monthly Compensation at Time of Retirement field. The amount entered will be used to calculate the Retirement Estimates in place of the highest average plan compensation (HAPC). When you actually elect either monthly retirement income or LSC, your benefit will be computed using your HAPC.
Basic Retirement Income is generally the largest monthly retirement benefit you can receive from the University of California Retirement Plan (UCRP). This benefit is based on a formula that includes:
- A factor based on your age at retirement,
- Your years of UCRP service credit, and
- Your highest average plan compensation (HAPC)
Basic retirement income is calculated according to the following formula:
Age factor x service credit x HAPC
For members covered by Social Security, the formula is slightly different:
Age factor x service credit x (HAPC - $133)
If you elect to receive UCRP monthly retirement income, when you die, an automatic monthly postretirement survivor continuance benefit is paid to your eligible survivor(s), if any.
In addition to Basic Retirement Income, UCRP also offers several alternate payment options that can provide additional lifetime monthly income after your death to your spouse or domestic partner, or another person you name. To provide this additional benefit after your death, the monthly retirement income benefit you will receive is reduced.
Capital Accumulation Provision (CAP) is a supplemental benefit for certain UCRP members who were actively employed on specific dates and paid covered compensation during specified periods. When you elect monthly retirement income or a lump sum cashout form UCRP, you must take a distribution of your CAP balance, if any. Allocations made from 1992 to 1994 earn interest equal to an annual percentage yield of 8.5%. Allocations made in 2002 and 2003 earn interest equal to the UCRP assumed earnings rate, currently an annual percentage yield of 7.25%. Interest is credited monthly.
Covered compensation is the gross monthly pay that you receive as an active employee for a regular and normal appointment. Limits may apply on covered compensation and may not be reflected in these estimates.
Contingent Annuitant
Contingent Annuitant is designated by the member at retirement when the member wants to provide a monthly lifetime benefit for that person. As of the member's retirement date, the designation is irrevocable - the member cannot name a new contingent annuitant.
Domestic Partner
Your domestic partner is the individual you designated through one of the three possible methods below and your domestic partnership began at least one full year before retirement and continues uninterrupted until your death.
- Registration of the domestic partnership with California's Secretary of State;
- Registration of a same-sex union, other than marriage, validly formed in another jurisdiction, that is substantially equivalent to a California domestic partnership; or
- Filing of a UC Declaration of Domestic Partnership form with the UCRP administration.
Highest average plan compensation (HAPC) is the average monthly full-time equivalent covered compensation during your 36 highest continuous months preceding retirement. If you have worked for UC less than 36 months, your calculation is estimated based on your average plan compensation during the months you worked through last month. For the retirement calculations shown here, the HAPC may be reduced for the Internal Revenue Code (IRC) Section 401(a)(17) limit (see 'Limitations' below). If you are a former employee, the HAPC used includes all inactive Cost of Living Adjustments (COLAs) to date. It does not assume future COLAs up to the projected retirement dates.
Limitations under Internal Revenue Code (IRC) Sections 415(b) and 401(a)(17) may not be applied in your estimates. IRC Section 415(b) places a maximum limit on total benefits payable in any calendar year from a defined benefit plan such as UCRP. IRC Section 401(a)(17) sets a dollar limit for annual earnings upon which retirement benefits (and contributions, if any) may be based. In addition, UCRP limits the maximum basic retirement income amount to 100% of HAPC (or 100% of HAPC-$133 for members with Social Security). This Plan limit may not be applied in Retirement Estimates calculations. To learn more about these limitations and the University's 415(m) Restoration Plan see the summary plan description.
Lump Sum Cashout (LSC) is a single payment approximating the present value of the basic retirement income you would be expected to receive over your lifetime, including cost-of-living adjustments. You may elect either the lump sum cashout or monthly retirement income, but not both.
If you elect the lump sum cashout, you forfeit your rights to any other UCRP benefits (except any CAP payment for which you are entitled) including disability benefits, the Social Security supplement, the basic death payment, and postretirement survivor continuance. Your accrued sick leave is not converted to service credit in calculating your cashout amount. You also waive all rights to continue retiree medical, dental, and legal benefits if you elect a lump sum cashout.
Generally, to be eligible to receive the LSC, you must have at least five years of UCRP service credit as of your separation date and be at least age 50 on your LSC date.
Membership classifications of UCRP include:
- Members with Social Security
- Members without Social Security
- Safety members
- Tier Two members
See the summary plan description applicable to your classification.
Monthly Alternate Payment Options allow you to choose a reduced benefit for yourself in order to provide a monthly lifetime benefit for another person (contingent annuitant) after your death. This benefit is paid in addition to postretirement survivor continuance. The same person can receive both payments. Note: Option D is only available to members with Social Security and the surviving spouse or domestic partner is eligible for the postretirement survivor continuance and is named as contingent annuitant.
Noncontributory offset is one of the offsets built into the basic retirement income formula. For affected members, there is a reduction in your benefit because of the Plan contributions (plan 02) that were not made (plus interest) if you became a noncontributory member during the period July 1, 1966 through June 30, 1971 or took approved leave during this period.
Noncontributory (plan 02) balance is the current balance of the Plan contributions that were not made (plus interest) if you became a noncontributory member during the period July 1, 1966 through June 30, 1971. It does not include the additional balance you may have if you also took approved leave during this period.
Your retirement or LSC date cannot be earlier than the day after your separation date (your last day of UC employment). For example, if your separation date is a Friday, you may retire on Saturday. For these Retirement Estimates calculations, your retirement date is your birthday at the age listed.
Postretirement Survivor Continuance is the monthly benefit paid to your eligible survivor or survivors, if you have any, after you die. This automatic benefit is not optional. It is built into UCRP's monthly retirement income benefit formula; your benefit is not reduced to pay for it.
The amount your survivor receives depends on whether you are a UCRP member covered by Social Security:
- If you are a UCRP member with Social Security, postretirement survivor continuance is generally 25% of a retired member's basic retirement income.
- If you are a UCRP member without Social Security, postretirement survivor continuance is generally 50% of a retired member's basic retirement income.
Service Credit is the amount of time you have been on pay status as a UCRP member in an eligible appointment. For the calculations in Retirement Estimator, your estimated years of service credit are projected based upon your time worked percentage for last month (if you are an active employee). Service credit may be adjusted up or down if you have completed a service credit buyback, or if you anticipate a change in your time worked percentage. Unused sick leave may qualify to be converted to service credit at retirement if you are an active employee (see Sick Leave for more information).
Sick Leave is generally converted to UCRP service credit if you retire within four months of separating from UC. If you enter your estimated sick leave hours at retirement, they will be converted into service credit and used in your monthly retirement income estimates. Sick leave is not converted to service credit in the Lump Sum Cashout calculation.
Social Security Offset is one of the offsets built into the basic retirement income formula. If you are covered by Social Security, your basic retirement income is reduced slightly to account for the Social Security taxes that UC has paid in your behalf. If you retire before age 65, UCRP provides a monthly temporary supplement described below. The offset is part of the benefit formula and continues to be applied for your lifetime. The lump sum cashout calculation includes the offset, but not the temporary supplement. The formula for the offset is: age factor x service credit x $133.
Social Security Supplement is the temporary supplement equal in amount to the Social Security Offset described above. If you retire before age 65, UCRP provides this monthly temporary supplement. This supplement stops when you reach age 65. The lump sum cashout calculation does not include this supplement.
Your spouse is the individual you legally married and have been married at least one full year before retirement and remain continuously married until your death.
University of California Retirement Plan (UCRP) provides retirement income for eligible employees (and their eligible survivors and beneficiaries) of the University of California. The Plan also provides disability and death benefits, a lump sum cashout option, and a Capital Accumulation Provision for certain eligible members. Eligible employees automatically become members of UCRP as a condition of employment.
UCRP is a governmental defined benefit pension plan established and maintained under Internal Revenue Code (IRC) section 401(a). Benefits are determined not by contributions to the Plan, but by defined formulas that vary according to the type of benefits payable (for example, retirement, disability, or survivor benefits). The formulas are based on such factors as a member's salary, age, and years of service credit.
Questions or problems
If you plan to retire from the University within the next year or so, you should read the University of California Retirement Handbook.
If you notice any data discrepancies, please contact the Retirement Administration Service Center or your local Benefits Office.