Overview of Pre-65 Coverage

• Your medical benefits and contribution towards those benefits remain the same as an active faculty and staff member. Your contribution however must be paid on an after tax basis.
• Active dental and vision coverage will continue.
• Unless disabled at retirement, salary continuance, short-term disability, and long-term disability discontinue.
• Life insurance for eligible retirees is equal to $1,500 for each year of service up to a maximum of $15,000. You may continue optional life insurance at groups rates. No medical underwriting is required. 
• Long-term care insurance may continue as long as you continue to pay the premium.
• You may leave any assets in your accounts that you accumulated with TIAA and Vanguard.

Summary Guides

• General Guide to Retiree Benefits - This guide includes general information about retiring from the University, enrolling in retiree benefits, and more.

• Pre-65 Retirees Full-Time Summary Guide - Current Plan Year
  (July 1, 2024 - June 30, 2025)

Option to Change or Terminate Coverage

Participants have the option to un-enroll from the University’s sponsored coverage and elect to take the defined dollar benefit (DDB) credits at any time at age 62 or older. However, once you elect to take DDB credits, you do not have the option to revert back to the University's pre-65 coverage on a cost sharing basis. The plans will be available to you but you must apply the DDB credits against the full cost of coverage.

Changes in elections may be made if you have a family status change that includes a gain or loss of employment, divorce, removal of a dependent, death of a spouse, relocation, etc.

Retirees between 62 and 65 will not notice any significant changes in health-related benefit coverages. The coverages and any changes are listed below.