PreRetirement

1
Pre-Retirement

• March 6th 2008
• Linda Mitchell

2
Pick a Date

• You must be retired for at least seven months to
  receive a cost of living adjustment ( COL
  applied Jan and July)
• Nine months of service during a fiscal year
  counts as twelve
• April 1 popular date

3
Benefits Carried Over

• Basic life
• Supplemental life
• Dependent life
• Medical insurance
• Dental insurance
• Spectera Vision Insurance

4
Benefits Not Carried Over

• INA accidental life (Age 70)
• MetLife term life (Age 75)
• Contact MetLife at retirement
• 1-866-492-6983
• Long and Short Term Disability
• Contact Aflac for conversion
• 678-410-2146

5
Supplemental LifeCoverage Before 11/01/80

• Basic life 25,000
• Supp. Life 100,000
• Total 125,000
• You may decrease or drop at any time

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Age 67Total Reduced By 35

• Example
• BEFORE AT
• AGE 67 AGE 67
• Basic life 25,000 25,000
• Supp. Life 100,000 56,250
• Total life 125,000 81,250

7
AGE 70TOTAL REDUCED BY 50
EXAMPLE BEFORE AT
AGE 70 AGE 70 BASIC LIFE 25,000
25,000 SUPP. LIFE 56,250
15,000 TOTAL LIFE 81,250 40,000
8
Age 70
Total reduced by 50 40,000 maximum ADD
cancelled
9
Coverage On Or After 11/01/80

• Basic life 25,000
• Supp. Life 15,000
• Total life 40,000
• ADD cancelled

10
COVERAGE ON OR AFTER 01/01/88
LESS THAN 10 or MORE 10 YEARS
YEARS BASIC LIFE 25,000
25,000 SUPP. LIFE -0-
15,000 TOTAL LIFE 25,000
40,000
11
Dependent Life
5,000 2.35 monthly
12
MedicareYou should apply for A B

• Part A Free
• (Hospital only)
• Part B 96.40/month (on average)
• (Doctors visit)
• Part D Not Recommended National Average of
  32/month
• (Prescription drug) BOR ins policies
  have pharmacy for retirees

13
Medical InsuranceBlue Cross And Blue
ShieldIndemnity Plan

• Single 140.62
• Member Spouse 295.20
• Member Child 253.00
• Family 407.64
• Age 65 Single 82.28
• Age 65 Couple 164.56
• Both must be over age 65
• Active rate is charged for under age 65 or if
  you have dependents under 65

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Medical InsuranceBlue Cross And Blue ShieldPPO
Plan

• dependents

• Single 105.18
• Member Spouse 220.84
• Member Child 189.30
• Family 304.96
• Age 65 Single 59.38
• Age 65 Couple 118.76
• Both must be over age 65
• Active rate is charged for under age 65 or if
  you have dependents under 65

15
Medical InsuranceBlueChoice HMO

• Under Age 65 Single 78.78
• Member Spouse 165.42
• Member Child 141.80
• Family 228.46
• Blue Choice HMO not available once employee or
  dependent reaches 65

16
Medical InsuranceKaiser Permanente

• Single 83.52
• Member Spouse 175.42
• Member Child 150.36
• Family 242.26
• Medicare part A and B required
• Age 65 Single 75.74
• Age 65 Couple 151.48
• Both must be 65 in order to have reduced rate

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Dental InsuranceBOR Blue Cross And Blue Shield

• Single 27.24
• Member Spouse 54.46
• Member Child 51.74
• Family 87.14

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Dental InsuranceCompBenefits Dental Access

• Single 18.80
• Member Spouse 46.82
• Member Child 45.50
• Family 75.74

19
Dental InsuranceCompBenefits Dental PPO

• Single 22.30
• Member Spouse 46.82
• Member Child 45.50
• Family 75.74

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Spectera Vision Plan

• Single 7.06
• Member Spouse 13.58
• Member Child 14.24
• Family 21.62

21
Insurance Billing
404-894-0077 GA Tech Accounting Monthly
between 6th -10th each month Bursars office will
accept a voided check and set up auto deduction
for premiums Contact them if your account info
changes
22
Plan for Retirement

• Keep the handout
• Refer to notes
• Select a tentative Retirement date
• Benefits 404-894-8627 or TRS404-352-6500
• If you have questions