Benefits for Retirees of Georgetown University: Office of Faculty and Staff Benefits

Benefits 2011 (for 2012 info visit http://benefits.georgetown.edu)

Benefits for Retirees of Georgetown University

Notice: Current participants in retiree medical benefits who received an email regarding the deferral of premium increases should note that this delayed increase applies only to active (non-retired) employees.

The following resources are now available online:

Open Enrollment Newsletter (pdf)
2011 Benefits Guide (pdf)

Thank you to all those who attended the Retiree Medical Benefits focus group on June 29. For those unable to join the meeting, you can view a PowerPoint presentation of the key discussion points here.

When you terminate from the University after the attainment of age 55 and the completion of 10 years of service, you are eligible for retiree benefits. You must meet both the age and service requirements in order to be eligible for this benefit. For example, if you terminate employment at age 68 with 6 years of service, or if you terminate employment at age 54 with 30 years of service, you will not be eligible for the retirement benefits listed below. However, if you meet the age and service requirements, you will be eligible for retiree benefits regardless of the reason for your termination (voluntary, involuntary, layoff, etc).

Specifically, to be eligible for retiree medical and life insurance you must be working at least 75% time or 30 hours per week at the time that you retire from Georgetown. To qualify for retiree medical insurance, you must also be enrolled in a medical plan through the university at the time of retirement. To qualify for tuition assistance benefits in retirement you meet the age and service requirements while working least 90% time or 36 hours per week.

Retiree benefits include:

Continuing your medical insurance*;
voluntary, dental insurance*;
$5,000 face value of life insurance (the "core" life insurance plan); and
Tuition benefits for yourself or your dependent children.

All terminating employees, regardless of their age and years of service, are eligible for a distribution of their vested benefits from the Voluntary Contribution Retirement Plan, the Defined Contribution Retirement Plan, and the Georgetown University Retirement Plan ("GURP"), as applicable.

Retiring faculty and staff who wish to participate in a Georgetown University-sponsored retiree medical or dental plan, will be required to pay monthly premium contributions using one of the following options:

Reduction from monthly Georgetown University Retirement Plan (GURP) annuity OR
Reduction from monthly TIAA-CREF annuity.
If retiree does not receive an annuity from the sources listed above then they will be required to pay by direct debit (available January 2010) or personal check.

COBRA

Please note as a recent retiree, you will also receive COBRA paperwork, mailed to your home address. We mail you COBRA paperwork, even though you are entitled to receive retiree medical benefits, for two important reasons:

COBRA regulations require us to send you this paperwork
You may be interested in electing COBRA for your dental insurance (see preceding paragraph).

Questions? Colonial HealthCare, Inc. partners with Georgetown University in administering our Retiree Benefits. You may contact Colonial HealthCare at 1-877-819-9413 or by email at chcbenefits@chc-inc.com. You may also contact the Office of Faculty and Staff Benefits for general assistance at 202-687-2500.