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2017 Benefits Book

Claims In the event of death, contact an HR Benefits Specialist in the Human Resources Department as soon as possible, in order to have the claim processed within the applicable time limit.

Coverage (Dependent) • Any eligible dependent will have $1,000 of coverage. • If the retiree ceases to have life insurance coverage no dependent will be eligible for life insurance.

Cost •

There is no cost to the retiree for this benefit.

Effective Date •

Insurance is effective the first day of the month

following retirement. •

Dependent insurance becomes effective upon

— Ricky Draper Tournament. Photo submitted by Sandy Land

enrollment in the health pla n.

Other Retiree Benefits 1. 457

• Withdrawals: There will be an early withdrawal penalty prior to age 59½unless the employee retired on disability and there will be an early withdrawal penalty prior to age 59 ½ unless the employee retired on disability. 2. 401(a) and/or 401(k) • Withdrawals: Therewill be anearlywithdrawal penaltyprior to age 59½unless the employee retired on disability. There will be an early withdrawal penalty prior to age 59 ½ unless the employee retired on disability. 3. Credit Union : Retirees may be members of the Credit Union. • No payroll deductions from your monthly pension because the Retirement System will not allow it. • For more information, contact the Credit Union at 373-2090. 4. Medical Services : Retirees may receive services from the City Medical Services Clinic. • For more information contact the Clinic at 373-2412. 5. COBRA: At retirement employees will have the option to participate in the health and/or dental insurance plan(s) for retirees or they may participate in the COBRA program. This will be a one time option and must be decided at the time of retirement. Retirees who have eligible dependents covered on the health and/or dental plan(s) will be eligible for COBRA benefits as outlined in the Regulatory Notices Section.

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