Summary Guide - Human Resources - University of Pittsburgh

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Retiree Benefits Program
www.hr.pitt.edu/retirees
Eligibility
University of Pittsburgh faculty and staff receive official recognized
retiree status if they meet the following requirements:
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Recognized Pitt start date prior to July 1, 2004: Must be
age 62
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Recognized Pitt start date on or after July 1, 2004: Must
be age 62 and have age and service equal to 85 or greater
Defined Dollar
Benefit Program
The Defined Dollar Benefit (DDB) program provides “credits”
that may be used to offset the cost of retiree medical coverage.
Between the ages of 62 and 65, retirees have the option to elect
pre-65 retiree medical coverage, by enrolling at the cost share or
for the credits.
At age 65, retirees and eligible spouses/partners are enrolled in
the DDB program.
Credits may be used for the following:
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Purchase of University-sponsored post-65 coverage
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Purchase of post-65 coverage obtained independently
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Retained in an account for future use toward a retiree
medical plan premium
Each month the University will deposit credits (dollars) into an
account in your name and that of your eligible spouse/partner.
Unused credits roll over month to month and year to year.
Pre-65 Benefit Plan Coverage
Retirees and qualified spouses/partners* between the ages of 62
and 65 have the options to:
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Continue the same medical, dental, and vision coverage
available to active faculty and staff. The cost share remains
the same as well.
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Elect “credits” under the Defined Dollar Benefit (DDB)
program instead of paying for the cost share of University
medical coverage.
• Pre-65 retirees typically elect to take DDB credits if
they have medical coverage through a spouse/partner or
through another employer. Credits (available only for
retiree coverage) may be “banked” or saved for future
use or reimbursement of retiree medical coverage.
• Please refer to the Defined Dollar Benefit program
section of the Benefits Department Web site: http://
retiree.hr.pitt.edu/ddb.htm.
Post-65 Benefit
Plan Coverage
Prior to the beginning of the month in which you turn 65, you
will be provided with the opportunity to enroll in post-65 benefit
coverages sponsored by the University of Pittsburgh (medical,
dental, vision).
Medical
The University of Pittsburgh offers several medical plan options.
Equally as important, the University sponsors prescription
drug coverage that generally exceeds the standard plans offered
directly by Medicare and insurance carriers.
The University sponsors the following Post-65 medical plans:
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UPMC for Life HMO (requires residency in a
Pennsylvania service area)
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UPMC for Life PPO–Standard (requires residency in a
Pennsylvania service area)
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UPMC for Life PPO–Basic (requires residency in a
Pennsylvania service area)
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Highmark Freedom Blue PPO–Standard
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Highmark Freedom Blue PPO–Basic
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UPMC National Complementary Program with PDP
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Highmark Signature 65 with Blue Rx
The DDB credits may cover the full cost of the HMO and PPOs.
The national plans, which provide a greater level of flexibility,
may require a retiree contribution.
Each of the University-sponsored plans for post-65 retirees
coordinates coverage with Medicare Parts A and B. You should
begin the Medicare Part B enrollment process three months
prior to the month in which you need your Medicare Part B to
be effective. The forms for a University-sponsored plan must
be signed and dated prior to the month in which you need
your Medicare Part B to be effective; but not earlier than three
months in advance.
Dental
Coverage is available through the United Concordia Access
program, a Highmark BCBS company.
Vision
Davis Vision, also a Highmark BCBS company, provides a valueadded
vision program.
*NOTE: An eligible spouse/partner is the individual
designated as approved on University records at the
time of retirement.
Benefits For Pre-65 and
Post-65 Retirees
Life Insurance
The University provides life insurance, based on eligibility as an
active employee, equal to $1,500 for each year of service up to a
maximum of $15,000. If you have additional life insurance needs,
the University offers both conversion and portability provisions
for basic and optional coverages, respectively, that were in force
immediately prior to your retirement.
Long-term Care
Long-term care may be continued into retirement. Upon retirement,
the University will notify the insurance carrier, Unum, to
offer you conversion information. Premiums do not increase due
to age or retiree status and will be paid directly to Unum.
Education Benefits
Staff should refer to University Policy 07-11-02, or call the
Benefits Department at 412-624-8160.
Faculty should refer to University Policy 02-07-02, or call
Faculty Records at 412-624-4232.
Retirement Income Plan
You should begin to review your TIAA-CREF and/or Vanguard
retirement accounts or Defined Benefit Pension Plan participation
prior to retirement. Licensed financial counselors from
TIAA-CREF and Vanguard are available for one-on-one
appointments to review your accounts and discuss potential
investment strategies, income options, inflation and taxes, planning
tools, and resources for services.
TIAA-CREF
General Web Site: www.tiaa-cref.org/pitt
Telephone Counseling: 1-800-682-9139
Personal Appointment: 1-877-209-3136
Appointment Web Site: www.tiaa-cref.org/moc
The Vanguard Group
General Web Site: www.vanguard.com
Telephone Counseling: 1-800-523-1188
Personal Appointment: 1-800-662-0106 ext. 14500
Appointment Web Site: www.meetvanguard.com
Noncontributory Defined Benefit
Pension Plan
Participants in this plan should contact the University of
Pittsburgh Pension Administration Center at 1-866-283-0208 to
review the following:
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Participation
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Vesting status
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Eligibility for payments upon retirement
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Benefit begin date
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Benefit amounts
Benefits Service Center
The University of Pittsburgh partners with a benefits service
center to handle retiree benefit administration:
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The University remains responsible for the overall
management of the program.
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The center handles general program administration
and the day-to-day operations of the University’s retiree
benefits program, including billing.
After the decision to retire is made and officially processes, the
center will send the enrollment packet to your home address.
What Should I Do If I Want
To Retire?
Contact the Benefits Department to set up a one-on-one session
for you and your spouse/partner if you are considering retiring
and would like to discuss the topics mentioned in this brochure.
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Your department requires advance notification of a retirement.
The length of time your department needs varies by
department.
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Your department will then begin the processing of your
employee record. Once the processing is complete, the
benefits service center will mail a benefits enrollment
packet to your home address.
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The enrollment packet includes all of the forms necessary
to enroll in the retiree coverages. This packet will need to
be completed and sent back to the benefits service center
to the address indicated.
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The Benefits Department will complete verification forms
required by TIAA-CREF and/or the Vanguard Group as
well as forms for Medicare Part B obtained from the Social
Security Administration.