Resources for 2018 Retiree Benefits
- 2018 Retiree Benefits Interactive Guide (2018)
- 2017 Retiree Benefits Interactive Guide
- 2018 Retiree Benefit Premiums (pdf)
- 2018 Retiree Open Enrollment Highlights Home Mailer (pdf)
- 2018 Retiree Open Enrollment Newsletter (pdf)
- One Exchange Newsletter
Who is Eligible?
The University offers certain benefits to retirees, including tuition assistance, life insurance and health insurance. The University provides a subsidy toward retiree health insurance premiums based on the retiree’s years of service. Currently, when you terminate from the University after the attainment of age 55 and the completion of 10 years of continuous benefits-eligible service, you are eligible for retiree benefits. You must meet both the age and service requirements in order to be eligible for this benefit. For example, if you terminate employment at age 68 with 6 years of service, or if you terminate employment at age 54 with 30 years of service, you will not be eligible for the retirement benefits listed below. However, if you meet the age and service requirements, you will be eligible for retiree benefits regardless of the reason for your termination (voluntary, involuntary, layoff, etc).
IMPORTANT UPDATE: Rule of 75 for Retiree Benefits Eligibility
Effective June 30, 2018, the University will implement a “Rule of 75” by which, in order to be eligible for retiree health insurance and other benefits, retirees must have:
- attained the age of 55;
- at least 10 years of continuous benefits-eligible service;
- and their age plus years of service must equal at least 75.
In recognition of the significance of this change and the impact on employees’ post-retirement planning, the University will grandfather those employees who, as of June 30, 2018, are 50 years old and have at least 10 years of service so that such employees’ eligibility would continue to be governed by the current rules (age 55 plus 10 years of continuous benefits-eligible service).
To be eligible for retiree medical and life insurance you must be consistently working at least 75% time or 30 hours per week at the time that you retire from Georgetown. To qualify for retiree medical insurance, you must also be enrolled in a medical plan through the university at the time of retirement. To qualify for tuition assistance benefits in retirement you must have met the service requirement while working at least 90% time or 36 hours per week.
Retirement Orientation & Planning Resources
Our office is dedicated to helping employees prepare, plan for and transition into their life in retirement. In order to help employees better understand the benefits available to them, we have created a Retirement Orientation that is delivered every month. Please refer to the Getting Ready to Retire section of our website to learn more and register for Orientation and other retirement workshops.
What Benefits Will I Recieve in Retirement?
- Continuing your medical insurance*
- Voluntary, dental insurance*
- Vision Discount Programs
- $5,000 face value of life insurance
- Tuition benefits for yourself or your dependent children.
All terminating employees, regardless of their age and years of service, are eligible for a distribution of their vested benefits from the Defined Contribution Retirement Plan, the Voluntary Contribution Retirement Plan, and the Georgetown University Retirement Plan ("GURP"), as applicable.
Retiring faculty and staff who wish to participate in a Georgetown University-sponsored retiree medical or dental plan, will be required to pay monthly premium contributions by ACH direct billing.
What About COBRA?
Please note as a recent retiree, you will also receive COBRA paperwork, mailed to your home address. We mail you COBRA paperwork, even though you are entitled to receive retiree medical benefits, for two important reasons:
- COBRA regulations require us to send you this paperwork
- You may be interested in electing COBRA for your dental or vision insurance
As of August 1, 2017, Secova will be the new retiree benefits administrator for Georgetown University. You can contact their Georgetown University Benefits Center at 1-877-327-2365 between the hours of 8am - 11pm (ET). You may also request assistance by email at GUBenefits@secova.com.