@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 MIP 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:
MIP - At a Glance |
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|---|---|---|---|
| MIP | MIP 7% | MIP DC Converted | |
| Membership | MIP Fixed: Elected the MIP before Jan. 1, 1990, or were a Basic Plan participant who enrolled in the MIP by Jan. 1, 1993 MIP Graded: First worked between Jan. 1, 1990, and June 30, 2008, or are a returning member who did not work between Jan. 1, 1987, and Dec. 31, 1989 MIP Plus: First worked between July 1, 2008, and June 30, 2010 |
Members who elected MIP during enrollment periods or first worked on or after Jan. 1, 1990, but before July 1, 2010 and chose higher contribution rate beginning Feb. 1, 2013* |
Members who elected MIP during enrollment periods or first worked on or after Jan. 1, 1990, but before July 1, 2010 and chose to convert to the Defined Contribution (DC) Plan on Feb. 1, 2013* |
| Vesting | 10 years 5 years if retiring under the 60 with 5 provision |
DB: 10 years or 5 years if retiring under the 60 with 5 provision DC: 4 years |
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| 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 |
3-6.4% | 7% | None after Feb. 1, 2013* |
| Eligibility | 46 with 30 60 with 10 60 with 5 (with stipulations) 55 with 15 (with stipulations) |
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| FAC period | 36 months | ||
| Retiree healthcare |
Premium subsidy or Personal Healthcare Fund |
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| Nonduty death benefit eligibility |
10 years if member under age 60 at time of death 5 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.