Life Events

PREPARING FOR RETIREMENT

Retiring from either the Basic or Supplemental Pension Plan can bring changes to your benefits. Click the tabs in the section below for more information on the changes you might need to make.

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Download the Retirement Timeline Worksheet
Download our Medicare & the DGA - Producer Health Plan guide

POTENTIAL PENSION CHANGES

  • Provided that you meet the eligibility requirements, your effective benefit date can be the first of any month, but your Supplemental Plan payment will normally be paid two weeks after the first of the month.

DOCUMENTS TO COMPLETE

  • A Benefit Application Request Form, written request for a benefit application or signed letter of instruction must be received at least 60 days prior to the date on which you wish to start benefits.

ADDITIONAL CONSIDERATIONS

The information on this page is only a summary of Pension Plans rules. For detailed information, please refer to:

POTENTIAL HEALTH PLAN CHANGES

  • You may be eligible for either Retiree Carry-Over or Certified Retiree health coverage. For more information on the different forms of retiree health coverage, go to Coverage Types and Plans.
  • Dependent children are not eligible for coverage under retiree health coverage. If your dependent children were covered under your earned coverage immediately prior to the beginning of your retiree health coverage, they will be eligible to self-pay at a reduced rate through their 26th birthday month.
  • Your spouse is eligible for coverage under your retiree health coverage. However, there is an additional premium due to cover your spouse.
  • When you become eligible for Medicare coverage, you must enroll in Medicare Parts A & B. You do not need to enroll in Medicare Part D (prescription drugs).
  • If you are eligible to begin retiree coverage and receive notice from the Health Plan, you will have 30 days from your date of eligibility to notify the Health Plan of your intention to elect such coverage before permanently losing your right to elect retiree coverage in the future. NOTE: If you have Earned coverage that is ending, you have 60 days to elect retiree coverage as it runs concurrent with COBRA. If there is a gap in your coverage, which means you are not currently covered, then you have 30 days to make the election.
 

DOCUMENTS TO UPDATE

  • Pension Deduction Authorization Form – This form authorizes the Health Plan to collect your health care premium directly from your Basic Plan monthly pension benefit each month. This is only for participants on regular or retiree self-pay coverage.

ADDITIONAL CONSIDERATIONS

The information on this page is only a summary of Health Plan rules. For detailed information, please refer to:

HEALTH ACTION ITEMS

  •  When you become eligible for Medicare coverage, you must enroll in Medicare Parts A & B. You do not need to enroll in Medicare Part D (prescription drugs).
  •  If you are eligible to begin retiree coverage and receive notice from the Health Plan, you will have 30 days from your date of eligibility to notify the Health Plan of your intention to elect such coverage before permanently losing your right to elect retiree coverage in the future.
    NOTE: If you have Earned coverage that is ending, you have 60 days to elect retiree coverage as it runs concurrent with COBRA. If there is a gap in your coverage, which means you are not currently covered, then you have 30 days to make the election.
  • Submit a Pension Deduction Authorization Form – if you would like to authorize the Health Plan to collect your health care premium directly from your Basic Plan monthly pension benefit each month. This is only for participants on regular or retiree self-pay coverage.

PENSION ACTION ITEMS

  •  Complete and submit a Benefit Application Request Form to request a benefit application or a signed letter of instruction to the Plans office at least 60 days prior to the date on which you wish to start benefits.

POTENTIAL PENSION CHANGES

  • Provided that you meet the eligibility requirements, your effective benefit date can be the first of any month, but your Supplemental Plan payment will normally be paid two weeks after the first of the month.

DOCUMENTS TO COMPLETE

  • A Benefit Application Request Form, written request for a benefit application or signed letter of instruction must be received at least 60 days prior to the date on which you wish to start benefits.

ADDITIONAL CONSIDERATIONS

The information on this page is only a summary of Pension Plans rules. For detailed information, please refer to:

POTENTIAL HEALTH PLAN CHANGES

  • You may be eligible for either Retiree Carry-Over or Certified Retiree health coverage. For more information on the different forms of retiree health coverage, go to Coverage Types and Plans.
  • Dependent children are not eligible for coverage under retiree health coverage. If your dependent children were covered under your earned coverage immediately prior to the beginning of your retiree health coverage, they will be eligible to self-pay at a reduced rate through their 26th birthday month.
  • Your spouse is eligible for coverage under your retiree health coverage. However, there is an additional premium due to cover your spouse.
  • When you become eligible for Medicare coverage, you must enroll in Medicare Parts A & B. You do not need to enroll in Medicare Part D (prescription drugs).
  • If you are eligible to begin retiree coverage and receive notice from the Health Plan, you will have 30 days from your date of eligibility to notify the Health Plan of your intention to elect such coverage before permanently losing your right to elect retiree coverage in the future. NOTE: If you have Earned coverage that is ending, you have 60 days to elect retiree coverage as it runs concurrent with COBRA. If there is a gap in your coverage, which means you are not currently covered, then you have 30 days to make the election.

DOCUMENTS TO UPDATE

  • Pension Deduction Authorization Form – This form authorizes the Health Plan to collect your health care premium directly from your Basic Plan monthly pension benefit each month. This is only for participants on regular or retiree self-pay coverage.

ADDITIONAL CONSIDERATIONS

The information on this page is only a summary of Health Plan rules. For detailed information, please refer to:

HEALTH ACTION ITEMS

  •  When you become eligible for Medicare coverage, you must enroll in Medicare Parts A & B. You do not need to enroll in Medicare Part D (prescription drugs).
  •  If you are eligible to begin retiree coverage and receive notice from the Health Plan, you will have 30 days from your date of eligibility to notify the Health Plan of your intention to elect such coverage before permanently losing your right to elect retiree coverage in the future. NOTE: If you have Earned coverage that is ending, you have 60 days to elect retiree coverage as it runs concurrent with COBRA. If there is a gap in your coverage, which means you are not currently covered, then you have 30 days to make the election.
  • Submit a Pension Deduction Authorization Form – if you would like to authorize the Health Plan to collect your health care premium directly from your Basic Plan monthly pension benefit each month. This is only for participants on regular or retiree self-pay coverage.

PENSION ACTION ITEMS

  •  Complete and submit a Benefit Application Request Form to request a benefit application or a signed letter of instruction to the Plans office at least 60 days prior to the date on which you wish to start benefits.