Welcome to RetirementPresented by

APS Benefits Department

Ellen Kennedy Director of Employee Relationsx 6103

Andi Oppenheimer Benefits Administratorx 2881

Michelle Brauch Benefits Specialist x 8627

M. Ann Irby Benefits Specialistx 6105

Medical Insurance

Retiree pays pro-rated share of cost as determined by School Board

If timely payments are received: Coverage continues indefinitely for retiree If retiree dies, covered surviving spouse and/or eligible

dependent children may continue coverage at full cost

If you drop coverage, you cannot come back onto the plan

Medical Insurance and Medicare

Do I need to sign up for Medicare Part A and Part B and if so, when?

STATUS PART A PART B

Active employee and/or covered dependent turning age 65 Medicare and APS recommend that you sign up for Part A when eligible**

No

Retiree and/or covered dependent under age 65 No No

Retiree and/or covered dependent turning age 65 Yes Yes, must be enrolled by 1st of the month you turn age 65**

Retiree and/or covered dependent over Age 65 Yes Yes

**Please contact Medicare directly for detailed information

Medicare eligible members, if and when retired, will be covered under either United Healthcare Senior Supplement Plan or Kaiser Medicare Plus.

To apply for Medicare you must contact the Social Security Administration at least 3 months prior to turning age 65 or at your retirement, if age 65 or over.

Medicare becomes your primary insurance and United Healthcare (UHC) becomes your secondary insurance, if you are transitioning from a Cigna Health Plan.

School Board ContributionCoverage Levels

Service* Individual Individual + Spouse orIndividual + Child(ren)

Family MedicareProgram

20+ years Cigna: 72%Kaiser: 77%

Cigna: 61%Kaiser: 63.5%

Cigna: 58%Kaiser: 59.3%

UHC: 72%Kaiser: 77%

15-19 years 50% 45% 40% 50%

10-14 years 30% 25% 20% 30%

5-9 years** 10% 10% 10% 10%

* Service is defined as full time years worked with APS. Service for part-time employees (those who worked less than 30 hours per week) will be prorated.

* * Employees hired after January 1, 2009 who retire with less than ten years of service shall not be eligible for coverage under the APS health and dental insurance plans. Effective January 1, 2009, any dependents must be on the health and/or dental plans five years prior to retirement to continue the coverage into retirement.

Delta Dental Insurance

Retiree pays 100% of cost

If timely payments are received: Coverage continues indefinitely for retiree If retiree dies, covered surviving spouse and/or eligible

dependent children may continue coverage at full cost

If you drop coverage, you cannot come back onto the plan

Paying for Medical & Dental

If you are enrolled in Kaiser, CIGNA or Delta Dental, your premiums may be deducted from your VRS or ACERS pension check. If you are enrolled in United Healthcare, you can pay by check directly to UHC or have your premiums paid automatically from your personal bank account.

Under certain circumstances, retirees will have to pay by personal check directly to APS. Timely payment is required to continue your coverage.

Health Insurance Credit

Provides you with a reimbursement to assist with the cost of your health insurance.

Eligibility - Retiring with 15 or more years of creditable VRS service.

Qualified plans: Individual medical plans; coverage as a dependent on a spouse's plan; Employer-sponsored medical plans; Medicare Part B; and Dental, vision and prescription drug plans including Medicare Part D.

Other types of plans for specific conditions or coverage are not eligible.

Applying for the Health Insurance Credit

If VRS is deducting your health insurance premium from your benefit, you do not need to apply for the health insurance credit.

If VRS is not deducting your health insurance premium or you have eligible health insurance coverage in addition to your employer-sponsored coverage, complete and send the Request for Health Insurance Credit VRS-45 Form to VRS.

The credit will be added to your monthly retirement

benefit.

Flexible Spending Accounts

Enrollment ends as of the effective date of your retirement.

Claims incurred from January 1st to your retirement date are eligible for reimbursement

Claims must be submitted no later than 90 days from your retirement date

“Use it or Lose it”

Other Benefits

403B Plan Upon retirement, you can choose to take a distribution from your

plan or rollover your balance to an IRA or other qualified plan. You must contact your provider and our third party administrator, TSA Consulting, who will help you understand any fee implications, if applicable, that might be incurred. You should also contact TIAA-CREF, who handles your School Board match account, to take a distribution or opt for a rollover.

Long Term Care (Aetna or Genworth) Converts to an individual policy and you pay premiums directly to

Aetna or Genworth

Leave Payout

100% of value of all accumulated annual leave will be paid

50% of value of all accumulated sick and personal leave will be paid (25% if hired after 7/1/2011)

Payoffs that exceed $2,500 will be made in pre-tax dollars

Tax-deferred account will be established with BENCOR, Inc.

Retirement Appointments

Individual appointment - contact Michelle Brauch x8627 Beginning January for July 1 retirement July 1 retirement paperwork must be submitted to Michelle as soon as

possible. Retirement letter must be submitted to your supervisor and a copy to

Michelle Brauch with the completed retirement application

VRS retirement application processing time is 60 days.

Questions