Post January 1, 1996 to September 30, 2000
Post-retirement benefits are available to those hired, full-time, on or before September 30, 2000.
Qualified retirees are those who meet the 75-year rule. For employees hired on or after January 1, 1996, age plus a minimum of 15 years of full-time service must total 75 years in order to be considered a qualified retiree.
Health Insurance
- Under age 65: University coverage continues
- Over age 65: University coverage provide by Aetna Medicare Advantage PPO Plan
Medical premium contribution
| Full-Time Service | Employee Contribution* |
|---|---|
| 15-19 years | 50% |
| 20-24 years | 25% |
| 25 + years | Will contribute the same premium cost share dollar amount as immediately prior to retirement without being subject to future increases in premium. |
Life Insurance
$10,000 upon retirement (increases at University option)
Tuition Remission
Qualified retirees, their spouses and children under the age of 24 are eligible to receive full tuition remission for undergraduate/graduate courses at the University, except for Special Programs, (such as the Executive Business Program (EMBA), the Law School, all doctoral programs, the MS in Finance for Professionals, the Physician鈥檚 Assistant Program, etc.). Special Programs qualify for a 50% remission benefit for children under the age of 24. (Please contact Student Accounts for information concerning programs that are considered to be Special Programs.)
For a child age 24+, full tuition remission toward completion of an undergraduate degree if he/she matriculated prior to turning age 24 or 50% tuition remission for undergraduate/graduate courses at the University and 25% tuition remission for Special Programs.
On-campus tuition remission benefits for a dependent child terminate at the end of the semester in which he/she turns age 30.
Non-credit or certificate courses/programs are not covered, nor is a qualified retiree eligible to participate in the tuition exchange program or the off-campus tuition reimbursement program.
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鈥檚 medical plan contribution will be based on the same percentage as immediately prior to latest retirement date (see table above).