Pre 1996 Hires

Qualified Retirees are those who meet the 75-year rule. This rule states that the age plus a minimum of 10 years of full-time service must total 75 years in order to be considered a qualified retiree.

Qualified Retirees are eligible for the following benefits:

Medical Coverage (if retired prior to August 31, 2005)

Under 65 years of age

The University will provide individual coverage at no cost to the qualified retiree. University coverage will remain primary. If the retiree desires to have coverage for a spouse, he/she may do so by continuing family coverage and paying the required premiums.

Over 65 years of age

The University will provide supplemental coverage for our retirees with no cost to the employee. Medicare coverage will become primary while University coverage will become secondary. If a retiree desires coverage for a spouse, he/she may do so by enrolling them in single coverage plan and paying the required premiums.

Medical Coverage (if retired after August 31, 2005)

Under 65 years of age

University coverage will remain primary and the retiree is required to contribute towards medical coverage for oneself while in retirement.  The retiree’s contribution will be the same cost share dollar amount as immediately prior to retirement without being subject to future increases in premium.  If the retiree desires to have coverage for a spouse, he/she may do so by continuing family coverage and paying the required premiums.

Over 65 years of age

The University will provide supplemental coverage for our retirees Medicare coverage will become primary while University coverage will become secondary. The retiree is required to contribute towards medical coverage for oneself while in retirement.  The retiree’s contribution will be the same cost share dollar amount as immediately prior to retirement without being subject to future increases in premium.

If a retiree desires coverage for a spouse, he/she may do so by continuing family coverage and paying the required premiums.

Medicare - Part B

The University will reimburse qualified retirees, age 65 or over, for the standard monthly Medicare Part B premium upon receipt of the Medicare Part B card. In 2013, the standard monthly Part B premium is $104.90. Reimbursement is provided on a monthly basis and will begin the month following receipt of the Medicare Part B card and confirmation of your monthly Part B base premium. No retroactive reimbursement will be made. Direct deposit is available for this reimbursement.

 

Dental

Retiree has the option to continue on the CIGNA Dental plan for 24 months following his/her retirement date. Once the 24 months has ceased, retirees have the option to continue on COBRA for an additional 18 months (for a combined maximum of 42 months of coverage). The retiree pays for the full cost of this coverage.

Life Insurance

Non-Contributory Life Insurance is provided to our qualified retirees at an amount equal to their last full time base annual  salary up to $150,000. Effective July 1, 2007, non-contributory life insurance is provided to our qualified retirees at an amount equal to their last full time base annual salary up to $100,000. The amount of the policy will decrease by 10% of the original amount on the first of each July following the date of  retirement. It will continue to decrease until the amount is equal to the greater of 40% of the original amount or $2500.


Tuition Remission

Qualified retirees, their spouses and children under the age of 24 are eligible for full tuition for courses at the University, except in the Law School, the Executive MBA Program, the DPS Program and the Psy.d. Program.

Full remission toward completion of their undergraduate degree if they were matriculated prior to age 24 or half tuition for courses at the University and one-quarter remission for the graduate programs listed above.

On campus tuition remission benefits for children end in the semester the child turns 30.

Rehired Employees

  • If a full-time employee who was previously eligible for but did not meet the Rule of 75 terminates full-time employment, and is rehired full-time after a year (12 month) break from full-time service, the employee will no longer be eligible for rule of 75 benefits regardless of subsequent service.

     
  • If a full-time employee who was previously eligible for but did not meet the Rule of 75 terminates full-time employment, and is rehired full-time within a year (12 month) break from full-time service, the employee will be eligible for rule of 75 benefits.

     
  • If a full-time employee who was previously eligible for and did meet the Rule of 75 terminates/retires from full-time employment (qualified retiree), and is rehired full-time, upon his/her subsequent termination/retirement date, he/she will continue to be considered a qualified retiree; however, the retiree’s medical plan contribution will be the same cost share dollar amount as immediately prior to latest retirement date without being subject to future increases in premium.

    Benefits Disclaimer