Eligibility under the current policy is limited to employees who have a minimum of 15 consecutive years of full-time employment with the Agency and who reach their 58th birthday by June 30 of their final fiscal year of employment. The employee must attain the age of 58 before the date of retirement in order to receive benefits.
For qualified participants, the Agency agrees to pay the monthly rate of single health ($577.71/month) and dental ($31.35/month) coverage as was in effect during the employee’s last year of employment. If the employee has family coverage at the time they apply for the post-employment benefit, the family members may continue on the policy at the employee’s expense.
The Agency will continue to pay the full premium for a group term life insurance policy in the amount in effect immediately prior to retirement.
Those eligible for the post-employment benefit at the end of the 2013-14 plan year will be receiving a letter and application for post-employment benefits in mid-October. To apply for the benefit, all forms will need to be signed and submitted to the Benefits Specialist by November 29, 2013.
Click here to download the full version of the post-employment benefit policy for further information and other eligibility options and requirements.
Employees not eligible for the post-employment benefit, but who retire and start drawing IPERS, may still stay on the agency health insurance under Iowa Code 509A. The cost of premiums will be the responsibility of the employee. Dental and life insurance are not available under Iowa Code 509A.
If you have questions or would like to set up a meeting to discuss your individual situation, contact Kathy Martin, Benefits Specialist, at kmartin@heartlandaea.org or ext. 14385.
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