@media screen and (max-width: 550px){ .splitCol.col_3.NONE{ display: inline-block; clear:both !important; } } Sometimes mistakes happen in the rush to submit documents before your retirement effective date, which require time and attention to resolve. The time needed to correct errors could delay your first pension check or insurance e
Your eligible dependents may receive health, dental, and vision insurance. Your spouse is an eligible dependent to be covered. If he or she is also a public school retiree, you will be covered together under one contract.
Effective July 1, 2013, Prudential will no longer accept new applications for long-term care. For questions about your long-term care insurance through Prudential, call (800) 732-0416, or visit the Prudential website. For questions about your long-term care insurance through MetLife, call
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Here's an overview of the Basic benefit structures. If you're unsure of your benefit structure or retiree healthcare plan, you can find out by logging in to miAccount. Click on any of the subjects for more details.
Basic Plans at a Glance |
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|---|---|---|---|
| Basic | Basic 4% | Basic DC Converted | |
| Membership | Members who did not elect the Member Investment Plan (MIP) during the MIP enrollment periods or did not work after Dec. 31, 1986 | Members who did not elect the MIP during the MIP enrollment periods or did not work after Dec. 31, 1986, and chose the 4% contribution rate beginning Feb. 1, 2013* | Members who did not elect the MIP during the MIP enrollment periods or did not work after Dec. 31, 1986, and chose to convert to the Defined Contribution (DC) Plan Feb. 1, 2013* |
| Vesting | 10 years | Defined Benefit (DB): 10 years DC: 4 years |
|
| Pension factor |
1.5% up to Feb. 1, 2013 and 1.25% after Feb. 1, 2013 |
1.5% or 1.5% up to 30 years and 1.25% after 30 years |
1.5% |
| DB pension contributions |
None | 4% | None |
| Eligibility | 55 with 30 60 with 10 55 with 15 (with stipulations) |
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| Final average compensation period | 60 months | ||
| Retiree healthcare |
Premium subsidy benefit or Personal Healthcare Fund |
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| Nonduty death benefit eligibility |
15 years if member younger than age 60 at time of death 10 years if member 60 or older at time of death |
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*The date your plan changes took effect was based on your transition date. The exact date depends on your school district's payroll cycle.