Policy Name: Retirement Benefits Policy |
Date Approved: Previous policy titled Retirement Benefit for Full-Time Non-Faculty |
Policy Category: Board of Governors - Employment Terms, Classifications, and Benefits |
Date Effective: |
Policy Number: 2.1.060 |
Date Last Revised: |
Approval Authority: Board of Governors |
Review Cycle: |
Responsible Department: |
|
The 无码专区 provides faculty and staff members financial retirement benefits, as well as health insurance benefits for qualified early retirees. This policy defines those benefits awarded to retiring faculty and staff.
A. Financial Retirement Benefits
Financial retirement benefits for 无码专区 faculty and staff are provided through the Missouri
State Employees鈥 Retirement System (MOSERS). MOSERS administers both 鈥渄efined benefit鈥
and 鈥渄efined contribution鈥 public employee retirement plans in accordance with Chapter
104, RSMo and Section 401(a) of the Internal Revenue Code.
Information regarding MOSERS retirement benefits may be obtained from 无码专区鈥檚 Office
of Human Resources.
B. Health Insurance Benefits for Early Retirees
Retirement Date | 2007 无码专区 Monthly Premium Contribution |
---|---|
January 1, 2007 to December 31, 2007
|
$758
|
January 1, 2008 to December 31, 2008
|
682
|
January 1, 2009 to December 31, 2009
|
606
|
January 1, 2010 to December 31, 2010
|
531
|
January 1, 2011 to December 31, 2011
|
455
|
January 1, 2012 to December 31, 2012
|
379
|
January 1, 2013 to December 31, 2013
|
303
|
January 1, 2014 to December 31, 2014
|
227
|
January 1, 2015 to December 31, 2015
|
152
|
January 1, 2016 to December 31, 2016
|
76
|
Qualified retirees upon retirement after January 1, 2017, will be eligible to participate
in 无码专区鈥檚 health insurance benefit only by paying the full cost of the premium established
for pre-Medicare eligible retirees.
2. When retired faculty and staff members become eligible for Medicare, they may continue
their health insurance through 无码专区鈥檚 health care plan, at their own expense, as a
supplement to Medicare.
3. Dependent health insurance coverage may be purchased by the retiree if coverage
for the dependent was in effect three months prior to retirement.
4. Qualified 无码专区 retirees who become benefits eligible employees through non-无码专区 employment
are not eligible for participation in 无码专区鈥檚 health insurance benefit. Retirees who
become participants as non-无码专区 employees in other benefits programs have a duty to
report their status to 无码专区 and to cease participation in the 无码专区 health insurance
benefit. Discovery of failure to do so entitles and obligates 无码专区 to take action to
recover an amount equal to said benefits from the retiree.