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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 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 1-800-262-3862
  • 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: Pam Quick (pquick@utk.edu)  

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

  • The University of Tennessee
    HR East Service Center
    115 Conference Center Bldg.
    600 Henley St
    Knoxville, TN 37996-4115
    Phone: 888-444-8847

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; 730 Third Avenue, New York, NY 10017; 800.842.2733
VOYA: Plan# VT0057; 800.584.6001

May 26, 2022