University Retiree Benefits Package

Senior woman hugging man

For employees hired prior to January 1, 2008, the University Retiree Benefits Package consists of:

Medical insurance (Aetna Managed Care Plan), paid for retiree only. Medicare retirees must elect Medicare Part B
Dental insurance, paid for retiree only.
University parking privileges, which provides campus parking in, designated areas.
Athletic tickets can be purchased at discounted rates.
Recreational facilities, including free use of university operated facilities. Some restrictions may apply to the university golf course privileges for those retiring after January 1, 1994.
University Club and Faculty House membership eligibility.
Course enrollment privileges and applicable fee waivers.
Continued university library privileges.
Eligible to participate in university seminars, functions and retiree groups.

Employees hired after January 1, 2008, have the ability to continue to participate in the medical and dental plans at the group rates at the retiree's own expense.

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.

Participation - All benefits eligible university employees, with a continuous appointment, who work 20 hours or more per week for six months or longer, are eligible to participate.

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.

Eligibility requirements to retiree from the University of Oklahoma

At age 62 with at least 10 years of benefits eligible OU 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.
At age 55, benefits eligible employees may begin phased retirement. Contact your benefits office for details.

Eligibility requirements to retiree with Oklahoma Teachers Retirement System

OTRS members who joined prior to July 1, 1992, can retire with full benefits from Teachers’ Retirement System

Age 62 with at least 5 years of OTRS service credit OR
When age plus years of OTRS service credit equal 80 or more (Rule of 80).

OTRS members who joined on or after July 1, 1992, can retire with full benefits from Teachers’ Retirement System

Age 62 with at least 5 years of OTRS service credit OR
When age plus years of OTRS service credit equal 90 or more (Rule of 90).

Retirees who are eligible for retirement with Oklahoma Teachers’ Retirement System and who are beginning their OTRS benefits but don’t meet the requirements for university retiree benefits may qualify for “partial” retiree benefits. See below for the details:

With at least 10 and up to 15 years OU service and eligible for TRS retirement: Eligible to purchase university’s health and basic dental coverage by paying 100 percent of the cost.
With at least 15 and up to 20 years OU service and eligible for TRS retirement: University will offer health and basic dental coverage and pay 25 percent of the cost of the retiree premium only.
With at least 20 and up to 25 years OU service and eligible for TRS retirement: University will offer health and basic dental coverage and pay 50 percent of the cost of the retiree premium only.

OU does not provide service credit for accumulated short-term disability hours.