WVU Extension Service

Retirement Planning

Advance planning is an important factor to make your transition into retirement as smooth as possible. Whether you are a faculty member or a classified employee, you need to plan ahead at least six months to allow yourself enough lead time to make the necessary annuity election decisions. This will also provide the necessary retirement agencies ample time for your retirement paperwork to be processed with minimal interruptions of income. We are available to assist you with this most important decision. Thank you!

  • Planning for a Secure Retirement – As part of an Extension Initiative grant through Purdue Cooperative Extension, this Web site offers ten modules to assist employees with retirement planning.

Annual Leave Options:

You have two options to receive your annual leave balance: 1) a lump sum payment or 2) remain on the payroll. What is the difference between the two options?

1) Lump sum payments are not subject to benefit deductions. Your active optional benefit coverage will end on the last day of the month of your active pay status. (Ex: You retire effective May 22, elect annual leave lump sum payment for 14 days, your last day in active pay status is May 22, your benefit coverage ends May 31. Your annuity payment will begin on June 1.)

2) Benefits will be deducted if you remain on the payroll for your annual leave balance. Your active optional benefit coverage will end on the last day of the month of your active pay status. (Ex: You retire effective May 22, elect to remain on the payroll for 14 days annual leave, your last day in active pay status is June 12, and your benefit coverage ends June 30. Your annuity payment will begin on July 1.)

Exit Interview:

The exit interview form is an important tool in which you provide vital information on your experience working in the Extension Service.

Prior to your last day at work, please return the following for cancellation:

  • WVU Employee Identification Card
  • Office and Building keys

If applicable, the following will also need to be returned prior to your last day at work:

  • Cellular Telephone
  • Laptop Computer
  • Research Corporation MasterCard
  • Telephone Calling Card
  • Travel Expenses MasterCard
  • VISA ProCard

Contact the WVU Human Resources Benefits Office for options on state benefits as a retiree, or go to the WVU Benefits Office web page.

Contact the Extension Service Human Resources office for options on federal benefits as a retiree.