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Leaving the University

If you are not eligible for retirement upon separation of employment, your retirement plans may have rollover/withdrawal options. If you are considering either option, you can contact your retirement plan for assistance.  There are restrictions and penalties associated with withdrawals that you may want to consider prior to deciding.

TCRS Legacy (hired prior to 7/1/14)

  • Must meet retirement eligibility for benefits. 

TCRS Hybrid (hired 7/1/14 or after)

  • Eligible for employee 5% contribution and interest only
  • Forfeit UT contributions
  • Forfeit retirement credit
  • Taxes and other penalties may apply
  • May continue TCRSH if employed by another covered State of TN employer

For forms and additional information, please visit mytcrs.tn.gov or call Retire Ready TN at 1.800.922.7772.

Optional Retirement Program (ORP)

  • Members eligible for 100% withdrawal or rollover
  • Taxes and other penalties may apply

Contact your company for specific information about the distribution or rollover process.

  • VOYA 1.866.776.6704 ext. 2
  • TIAA 1.800.842.2252

John Hancock Retirement (ULPS Faculty Practice)

  • Members eligible for 100% withdrawal or rollover
  • Taxes and other penalties may apply

Contact John Hancock for additional information 1.855.543.6765.

Plan Administrator/Employer Approval

You may be asked for the plan administrator signature or employer approval when completing paperwork for rollover or distributions.  If so, forward your completed application to the Plan Administrators in Knoxville: retirement@utk.edu   

OR mail your completed application directly to the UT Systems Retirement office:

  • The University of Tennessee
    HR East Service Center
    505 Summer Place 912 UT Tower
    Knoxville, TN 37902

Tax Deferred Annuities

All tax deferred annuity plans have withdrawal or rollover options upon separation.

 401k/457- Empower Retirement

  • Eligible for 100% withdrawal or rollover
  • Penalties and taxes may apply

Contact Retire Ready TN regarding the 401k/457 or call 1.800.922.7772.

403b

  • Eligible for 100% withdrawal or rollover
  • Penalties and taxes may apply

Contact your 403b provider for information.

Providers

TIAA: Plan #02138; 1.800.842.2252
VOYA: Plan# VT0057; 1.866.766.6704 ext. 2

Feb 22, 2023