Retirement

Yes. We recommend making an appointment 2 months prior to your anticipated retirement date. Email the Human Resources Office at [email protected] to schedule.

At your appointment, you will receive information and instructions about retiree benefits and the required forms to continue your health insurance/prescription drug benefits in retirement.

Contact your retirement plan directly. We suggest meeting with them within 30 days of your anticipated retirement date.

Contact Information for Each Retirement Plan

• New York State Employees Retirement System (ERS)
  (518) 474-7736 or 1-866-805-0990
• New York State and Local Police and Fire Retirement System (PFRS)
  (866) 805-0990
• New York State Teachers Retirement System (TRS)
  (800) 348-7298
• Optional Retirement Plan (ORP, e.g., TIAA)
  (800) 842-2776

Yes. The health insurance and prescription drug coverage you have as an active employee will continue into retirement if you meet the eligibility requirements. You may also continue to cover eligible dependents under your family coverage.

• You must be 55 years of age or older at retirement.
• At retirement, you must have ten or more years of service in a position eligible for health insurance with SUNY or a participating agency.
• You must be participating in a health insurance plan immediately preceding your retirement date.

Dental and vision benefits are not part of your NYSHIP health benefits and do not continue automatically into retirement. Some unions (e.g., CSEA & UUP) provide a retiree dental/vision care plan; contact your union for details.

If you receive dental and vision benefits through the State plan, you can continue them under COBRA for up to 36 months at group rates when coverage would otherwise end. Sick leave credits cannot be used to reduce the premium for dental and vision benefits through COBRA.

Empire Plan Enrollees — When you retire from State service, you will not be issued a new benefits card unless other changes to your coverage coincide with your change in status (e.g., adding or removing a dependent). You will continue to use the benefits card you used as an active employee; there is no expiration date. This card includes your name and the names of your covered dependents.

HMO Enrollees — Upon enrollment in a NYSHIP HMO, you will receive a NYSHIP HMO card that will continue to be used as a retiree. If you or your dependent becomes Medicare primary, you will be enrolled in the HMO Medicare Advantage Plan and will receive a new card. You may also receive an additional prescription drug card. For questions or to order a new card, contact your HMO.

After retirement, the New York State Department of Civil Service, Employee Benefits Division (Albany) is responsible for questions or changes in coverage. Call (518) 457-5754 or (800) 833-4344.

Costs change each year on January 1. The State continues to pay approximately 69–73% of the full cost for family coverage and 84–88% for individual coverage. To see current monthly premiums for retiree coverage, visit the New York State website and view the retiree section.

At retirement, up to 200 days of unused sick leave accruals are converted to a monthly lifetime credit to offset the cost of coverage.

You will pay only if the premium exceeds your monthly lifetime credit. If so, you pay the difference between your monthly lifetime credit and the premium.

The monthly lifetime credit is calculated using a formula that includes your accrued sick leave days, salary, age, and an actuarial table.

• If you are a retiree of a State retirement plan, the difference is deducted each month from your pension check.
• If you are a retiree of the ORP, you will receive a monthly bill for the difference from the Division of Employee Benefits.

Yes. As long as your spouse remains un-remarried, coverage can continue under your plan. Your spouse must contact the Division of Employee Benefits for details.

At retirement, you may elect the Dual Annuitant Sick Leave Credit so your surviving spouse can use your monthly lifetime credit to offset the survivor health insurance premium. This form must be completed and submitted before your retirement date.

• If you choose to use 70% of your monthly lifetime credit at retirement, your surviving spouse will continue to use the same 70% monthly lifetime credit to offset their premium.
• If you choose to use 100%, the credit stops upon your death and your surviving spouse will pay the Eligible Survivors premium in effect at that time.

Yes. You can change your plan once during any 12-month period by contacting the Division of Employee Benefits at (800) 833-4344.

Yes. When you and/or your covered dependent reach age 65, you must apply for Medicare Parts A & B, which will become your primary coverage. Your State health insurance becomes secondary.

Approximately three months before you and/or your covered dependent reach age 65—or within three months of your retirement date if you retire at age 65 or older—contact your local Social Security Administration office at (866) 964-7593 to apply.

If your dependent is under 65 but has received Social Security Disability payments for 24 months or more, your dependent must also apply for Medicare Part B.

Yes. The monthly cost typically changes each January 1 and is automatically deducted from your Social Security check. Contact the Social Security Administration for the current cost.

Yes. Because the State shares responsibility for your health coverage with Medicare, the Division of Employee Benefits will reimburse you for the cost of Medicare Part B. If your spouse is a dependent on your State health plan, eligible Medicare Part B costs for your spouse will also be reimbursed when applicable.

Beginning January 1, 2007, Medicare Part B premiums are tiered based on income (IRMAA). The State annually reimburses the basic premium. If you pay additional IRMAA amounts, contact the Civil Service Employee Benefits Division (EBD) to apply for reimbursement. You will need to provide:

• A copy of the Social Security Administration letter notifying you of the additional amount due, and
• Proof of payment (e.g., SSA-1099 issued each January for the prior year, or billing statements from the Centers for Medicare & Medicaid Services).

• If you are a retiree of a State retirement plan, the Division of Employee Benefits will include reimbursement for you and/or your spouse in your monthly retirement check.
• If you are a retiree of the ORP, you will be reimbursed by separate check on a quarterly basis. Unless your health insurance premium exceeds your sick leave credit—then the Medicare Part B premium will be applied to your health insurance premium.

You are responsible for notifying your retirement plan of your intention to retire. The NYS Employees Retirement System is the only plan that requires 30 to 90 days’ notice.

• UUP and M/C employees: Notify your department in writing at least 1 month before your retirement date.
• CSEA, PEF, PBANYS, and NYSCOPBA employees: Notify your department in writing at least 2 weeks before your retirement date.

Your letter must state that you are retiring from SUNY Oswego and include your last day on the payroll.

Example: If your last day on the payroll is June 1, 20__, your letter would state in part: “retiring on June 1, 20__ close of business.”

Yes. Send a copy to the Human Resources Office.

The Human Resources Office must have the total number of sick leave days/hours you have accrued by your retirement date to process your retiree benefits.

The Time and Attendance section of HRS will not release this information until they have received and processed your final timesheet. Ensure your final timesheet reaches HRS on time.