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 PhysicianÂ鶹´«Ã½™s 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 retireeÂ鶹´«Ã½™s medical plan contribution will be based on the same percentage as immediately prior to latest retirement date (see table above).