For those planning to retire, the “No lapse in pay” retirement option provides protection against delays in switching from the payroll to the pension. From UCNet:
The “no lapse in pay” option guarantees the 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. If you’re approved as a July 1 retiree, you will receive your first retirement benefit payment on August 1. Employees interested in this option must submit all required documentation by the appropriate deadline and meet eligibility requirements (see Before you apply). The deadline to apply for no lapse in pay for a July 1 retirement is May 13, 2024.
For more information, go to https://ucnet.universityofcalifornia.edu/benefits/retirement/retirement-planning-resources/the-no-lapse-in-pay-retirement-option/.
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