The WVU Benefits Strategy team is sharing important information on behalf of PEIA regarding a change in retirement eligibility for retiree insurance(s) for employees participating in the 401(a) retirement plan through TIAA.
Historically, the criteria to retire from the University has aligned with PEIA’s criteria to qualify for retiree insurance benefits through PEIA and Mountaineer Flexible Benefits. However, PEIA has now implemented changes to retiree insurance eligibility requirements for certain TIAA participants based on hire date, while the University’s retirement eligibility requirements remain the same.
As a result of these changes, eligibility to retire from the University and eligibility for retiree insurance benefits may differ for employees hired on or after July 1, 2015.
Note that the information below relates only to eligibility to retire from the University and eligibility for retiree insurance benefits through PEIA and/or FBMC. This information does not involve retirement account withdrawal eligibility.
Criteria for TIAA participants to retire from the University.
• Any age with 30 years of service.
• Age 60 with at least 5 years of service.
Criteria for TIAA participants hired prior to July 1, 2015, to be eligible for retiree insurance benefits through PEIA and FBMC.
• Any age with 30 years of service.
• Age 60 with at least 5 years of service.
Criteria for TIAA participants hired on or after July 1, 2015, to be eligible for retiree insurance benefits through PEIA and FBMC.
• Age 60 with 10 or more years of service.
• Age 57 with 20 or more years of service.
• Age 55 with 30 or more years of service.
For questions, contact Shared Services at SharedServices@mail.wvu.edu or 304-293-6006.