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Criteria for Retirement
This section provides detailed information about the criteria for retirement. Figure out when you will qualify for retirement and review the helpful FAQ section at the bottom of this page.
Faculty and staff are eligible for retiree benefits after meeting the following conditions as of the date of retirement
- You are full-time at time of retirement;
- You are enrolled in a DePaul-sponsored medical plan; and
- You have attained age 55 and have 20 years of full-time cumulative service; or
- You have attained age 62 and have 10 years of full-time cumulative service.
What are the requirements for retiree medical insurance?
The eligibility requirements for retiree medical insurance are age 55 with 20 years of full-time cumulative service or age 62 with 10 years of full-time
cumulative service. In addition, the faculty or staff member must be enrolled in the medical plan at the time of retirement.
Which parts of Medicare do I need to enroll in when I retire?
When you retire, you will need to enroll in Medicare Parts A and B if you will be age 65 or older. DePaul University retiree medical plan will pay benefits as if you are enrolled in both Parts A and B. The same is also true if your spouse will be age 65 or older when you retire. He or she will need to enroll in Medicare Parts A and B. You do not need to enroll in Medicare Part D. If you enroll in Medicare Part D, you will no longer be eligible for the DePaul retiree medical plan.
Who is eligible to be included on my retiree medical health insurance?
Your spouse and eligible dependents are able to be included on your retiree
medical insurance as long as they were on your medical coverage at the time of your retirement. You are also able to enroll your spouse and eligible dependents during an Annual Enrollment period or if you experience a qualified family status change.
Can the retiree medical plan be changed after I retire?
The university strives to maintain high quality, affordable health plans for employees, retirees and their families. In order to accomplish this, it may be necessary to change insurance carriers and features of the plans on a regular basis to take advantage of effective new health care delivery options. The university reserves the right to terminate, suspend, withdraw, amend or modify all or any part of the plans, or to change the cost of coverage, at any time without notice.