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<div class="WordSection1">
<h1><img width="151" height="57" id="_x0000_i1025" src="cid:image001.png@01D8E3CC.EC640100"><o:p></o:p></h1>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">October 19, 2022<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<table class="MsoNormalTable" border="0" cellspacing="0" cellpadding="0" width="723" style="width:542.5pt;margin-left:-4.5pt;border-collapse:collapse">
<tbody>
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<td width="103" valign="top" style="width:76.95pt;padding:0in 5.4pt 0in 5.4pt;height:19.4pt">
<p class="MsoNormal" style="mso-margin-top-alt:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in">
<span style="font-family:"Arial",sans-serif">To:<o:p></o:p></span></p>
</td>
<td width="621" valign="top" style="width:465.55pt;padding:0in 0in 0in 0in;height:19.4pt">
<p class="MsoNormal" style="mso-margin-top-alt:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:5.3pt">
<span style="font-family:"Arial",sans-serif">Department Benefits Representatives (DBRs)<o:p></o:p></span></p>
</td>
</tr>
<tr style="height:19.95pt">
<td width="103" valign="top" style="width:76.95pt;padding:0in 5.4pt 0in 5.4pt;height:19.95pt">
<p class="MsoNormal" style="mso-margin-top-alt:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in">
<span style="font-family:"Arial",sans-serif">From:<o:p></o:p></span></p>
</td>
<td width="621" valign="top" style="width:465.55pt;padding:0in 0in 0in 0in;height:19.95pt">
<p class="MsoNormal" style="mso-margin-top-alt:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:5.3pt">
<span style="font-family:"Arial",sans-serif">HR Benefits Office on behalf of UC Office of the President<o:p></o:p></span></p>
</td>
</tr>
<tr style="height:22.55pt">
<td width="103" valign="top" style="width:76.95pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:22.55pt">
<p class="MsoNormal" style="mso-margin-top-alt:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in">
<span style="font-family:"Arial",sans-serif">Re:<o:p></o:p></span></p>
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<td width="621" valign="top" style="width:465.55pt;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;height:22.55pt">
<p class="MsoNormal" style="mso-margin-top-alt:3.0pt;margin-right:0in;margin-bottom:6.0pt;margin-left:5.05pt">
<b><span style="font-family:"Arial",sans-serif;color:black">RASC - “No Lapse in Pay Option” for Prospective January 4, 2023 Retirees
</span></b><span style="font-family:"Arial",sans-serif"><o:p></o:p></span></p>
</td>
</tr>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a name="_Hlk117077376"><b><i><span style="font-family:"Arial",sans-serif">DBRs, please share this important information with employees planning to retire on January 4, 2023.<o:p></o:p></span></i></b></a></p>
<span style="mso-bookmark:_Hlk117077376"></span>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif">If you’re planning to retire on January 4, congratulations! The UCRAYS retirement process and the “no lapse in pay” option can make
the process easier than ever — as long as you stay on track and meet the important deadlines below.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><a href="https://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/the-no-lapse-in-pay-retirement-option.html">The “No lapse in pay” retirement option</a> is a guaranteed
continuation of income and medical and dental benefits (if you’re currently enrolled, and eligible for benefits as a retiree) as you transition to retirement. Employees interested in this option must
<b>submit their signed election form and all </b><a href="https://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/required-documentation-for-retirement.html"><b>required documentation</b></a><b> by December 2, 2022, and meet eligibility
requirements</b> (see “Before you apply” below for details).<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif">Employees who qualify and retire on January 4, 2023, will receive their first retirement benefit payment on February 1, 2023.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Arial",sans-serif">How it works<o:p></o:p></span></b></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif">If you are approved for “no lapse in pay,” the UC Retirement Administration Service Center (RASC) will either pay your calculated benefit
amount or your estimated benefit as it appeared on your Personal Retirement Profile; for most members these two amounts are identical. If there are differences between the estimated benefit and the calculated amount, your benefit payment and premium deductions
will be adjusted by the May 1 payment.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Arial",sans-serif">Before you apply<o:p></o:p></span></b></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif">This option is only available for January 4 retirements which do not require special processing. Unfortunately,
<b>a number of circumstances can make a prospective retiree ineligible</b> for “no lapse in pay,” such as:<o:p></o:p></span></p>
<ul type="disc">
<li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo2">
<b><span style="font-family:"Arial",sans-serif">You are choosing a lump sum cash out<o:p></o:p></span></b></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo2">
<b><span style="font-family:"Arial",sans-serif">You have reciprocity with CalPERS or CalSTRS<o:p></o:p></span></b></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo2">
<b><span style="font-family:"Arial",sans-serif">You have UCRP service credit in more than one retirement tier<o:p></o:p></span></b></li><li class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;mso-list:l1 level1 lfo2">
<b><span style="font-family:"Arial",sans-serif">You have a legal obligation to divide your UCRP benefits (for example, in the event of a divorce, legal separation or termination of a domestic partnership) that has not been finalized<o:p></o:p></span></b></li></ul>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif">If you think you may qualify and would like to apply,<b> simply click the “No Lapse in Pay” opt-in box when you begin the retirement
process in UC Retirement At Your Service (UCRAYS)</b>. You have the option to submit the
<a href="https://ucnet.universityofcalifornia.edu/forms/pdf/ucrs-168.pdf">No Lapse in Pay Request form (U168)PDF</a> via fax or secure message instead; however, your application may take longer to process.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Arial",sans-serif">To be approved, the RASC must receive your No Lapse in Pay electronic opt-in or form, your signed Monthly Retirement Income election
and all </span></b><span style="font-family:"Arial",sans-serif"><a href="https://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/required-documentation-for-retirement.html"><b>required documentation</b></a><b> (submitted via
UCRAYS secure message or eFax) by Friday, December 2, 2022. </b><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-family:"Arial",sans-serif">If you don’t qualify for “no lapse in pay”
<o:p></o:p></span></b></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Arial",sans-serif">It is UC’s goal to process your retirement and provide a statement confirming your retirement benefit within 45 business days of receiving
your signed election. Please note that delays in receiving your <a href="https://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/required-documentation-for-retirement.html">
required documentation</a> can delay the process.<o:p></o:p></span></p>
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