[UCRDBR] REMINDER! UCPath July 1 Retirements and COLA Eligibility Processing

[Departmental Benefits Representatives]

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June 12, 2023

To:
Department Benefits Representatives
From:
Central HR Benefits Office on behalf of the UCPath Center
Re:
REMINDER!  July 1 Retirements and COLA Eligibility Processing
_____________________________________________________________________________________




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UCPath Reminder: July 1 Retirements and COLA Eligibility
To: General UCPath Communications distribution

As a reminder, to qualify for the inactive cost of living adjustment (COLA) increase, eligible UC Retirement Plan (UCRP) benefit recipients must have 1976 Tier service credit or safety classification and have at least one business day break in service before a July 1 retirement.



The Retiree COLA and 06/29/2023 separation date applies to only members in the 1976 retirement tier, safety tier and Modified 2013 Retirement Tier.  For members in the Retirement Tiers 2013 and 2016, the separation date should be 06/30/2023.



Refer to the updated Retirement Transaction Process for July 1 Retirement - COLA<https://sp.ucop.edu/sites/ucpathhelp/LocationUsers/LOCplayer/index.html?Guid=bfc6e835-7814-4050-8279-58f0ff705c00&bypasstoc=0> job aid for terminology, examples, and guidance on processing this transaction in UCPath.



Action Items:

*       Submit retirement templates

*       Submit final pay requests for accrual payouts

*       Submit Accruals & Service Adjustment eForm to adjust any sick time that has been converted to service credit

Note:

*       Transaction templates should be submitted and approved per location deadlines in the payroll processing calendars linked below

Resources:

1.    Job Aid: Retirement Transaction Process for July 1 Retirement - COLA<https://sp.ucop.edu/sites/ucpathhelp/LocationUsers/LOCplayer/index.html?Guid=bfc6e835-7814-4050-8279-58f0ff705c00&bypasstoc=0>

2.    Job Aid: Emeriti Processing Following Retirement<https://sp.ucop.edu/sites/ucpathhelp/LocationUsers/LOCplayer/index.html?Guid=920a0c70-65fb-414f-8f34-4267bc53ac38&bypasstoc=0>

3.    Simulation: Initiate Retirement Template Transaction<https://sp.ucop.edu/sites/ucpathhelp/LocationUsers/LOCplayer/index.html?Guid=4288b132-1482-441f-af93-5e14ed33682e&bypasstoc=0>

4.     Simulation: Submit Final Pay Request<https://sp.ucop.edu/sites/ucpathhelp/LocationUsers/LOCplayer/index.html?Guid=6f3fec10-e81f-42a5-b3b2-5d512ca872f9&bypasstoc=0>

5.     Job Aid: Review Payroll Processing Schedule<https://sp.ucop.edu/sites/ucpathhelp/LocationUsers/LOCplayer/index.html?Guid=3a97493b-bee1-403a-8f34-0cef32ea8687&bypasstoc=0>

6.     Forms Library in UCPath<https://ucpath.universityofcalifornia.edu/forms-library>

7.    Payroll Processing Schedule<https://www.ucop.edu/ucpath-center/_files/mypath/calendar/payroll-processing-schedule-2023.pdf>

8.    LBNL Payroll Processing Schedule<https://www.ucop.edu/ucpath-center/_files/mypath/calendar/lbnl-payroll-processing-schedule-2023.pdf>






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