CISS.SideMenu

Pre-Retirement

Enter Title

Click HERE to view the benefit book for those approaching retirement. 

Your Benefits in Retirement
The following chart gives you an outline of your State Plan coverage options in retirement.  It shows what’s required, what’s optional, and what benefits you are not eligible for as a retiree.

 

Non-Medicare
(Under 65)

Medicare Eligible
(Over 65)
Dependents
Medical/Prescription Required Required Optional*
Dental Required Optional Optional if retiree has dental coverage
Basic Life Required May convert 
Click HERE for details
Not Eligible
Life Plans B, C, & D May convert 
Click HERE for details
May convert 
Click HERE for details
Not Eligible
Accidental Dealth & Dismemberment Not Eligible Not Eligible Not Eligible
Vision Hardware Optional Optional Optional if retiree has vision hardware coverage
Flexible Spending Option to prepay for rest of year in which you retire-Click HERE for details Option to prepay for rest of year in which you retire-Click HERE for details Not Eligible
Long Term Disability Not Eligible Not Eligible Not Eligible

Pre-pay retiree health care benefits payments from your final check
If you are enrolled in the pre-tax plan, you can have your retiree benefits payments withheld from your final paycheck on a pre-tax basis through the end of the year in which you retire.
To take advantage of this option, contact your agency payroll person prior to your last day of work. The forms to be completed are:

  • Retiree Statement of Current Coverage;
  • Pre-Payment Option Form;
  • Life Enrollment/Change form (only complete this if you are NOT Medicare eligible);
  • Beneficiary Designation form (only complete this if you are NOT Medicare eligible).

If you are a member of a VEBA group, you may not pre-pay with leave balances designated as VEBA contributions.  

Self or spouse is 65 years or older when I retire
If so, contact Social Security to inquire about enrollment for Medicare Part B.
If you are or your spouse is currently enrolled in Medicare Part A & B, provide us a copy of your Medicare card so we can reduce your benefits payments.

Life insurance at retirement
If you are continuing on the State’s plan and are not Medicare eligible, basic life (Plan A) coverage of $14,000 will continue.
If you are Medicare eligible, you do not have the option to continue the basic life coverage of $14,000.
Optional employee life, dependent life, and spouse life are available for conversion or portability.  This is time sensitive, so contact Standard Insurance Company (800) 759-8702 for details and cost. You must apply in writing and pay the first premium directly to the Standard within 31 days after the date your employment terminates. 

  • IF you are under 65 and choose to continue on the State’s benefit plan as a retiree, you have the option to convert this coverage to a whole life policy.
  • IF you are under 65 and DO NOT choose to continue the State’s benefit plan as a retiree, you have the option to port your life insurance and pay a similar rate through the Standard Life Insurance Company.

What is the grandfather month?
If you were hired prior to (and enrolled in benefits) and have had no break in coverage since August 1998, you are entitled to an additional month of state share contribution upon termination. If your monthly benefit deductions exceed the state share, HCBD will withhold this amount from your final check. If the total amount is less than state share, HCBD will withhold nothing. Contact Health Care and Benefits Division to find out if you are eligible for the additional month of state share.  
This additional month of coverage only extends to medical, dental, vision, and life insurance.
Flexible spending accounts will end the last day of the month in which full or partial benefits contributions have been paid.
Long-term disability ends the last day of the month in which full or partial premium is paid.

VEBA
If you are a member of a VEBA group, contact your payroll resource to fill out the following forms before you leave: 

  • Enrollment Form
  • Systematic Payment Form – if you are continuing on the State's plan

If you are NOT currently in a VEBA group and are interested in being part of a group, contact HCBD or your 
payroll/HR staff for more details.
www.montanaveba.org is the VEBA website which will help answer many questions you may have about VEBA.  
Forms are also available on the website.

Contact Montana Public Employees Retirement
As a member of the Defined Benefit Retirement Plan, when you are ready to retire, follow these simple steps to retirement:

  • 2- 6 months before you plan to retire, contact MPERA for an official Defined Benefit Estimate Request.  The estimate will give you an approximate amount of your monthly benefit and allow you to plan your retirement accordingly.
  • 30-90 days before you plan to retire, complete the retirement forms that accompanied your benefit estimate and return them to MPERA.
    • PERS Retirement Form
    • PERS Application for Service Retirement Form
    • Direct Deposit Agreement
    • Withholding Certificate

Don't forget to inform your employer of your retirement!
If you have questions, contact MPERA at (406) 444-3154; (877) 275-7372; or http://mpera.mt.gov/.

Enrolled in deferred compensation
Contact Great West Retirement Services at (406) 449-2408 or (800) 981-2786 or e-mail the following individuals:

  • Nancy Quirino (Nancy.quirino@gwrs.com) – half of Helena and the western part of the State;
  • Elizabeth Long (Elizabeth.long@gwrs.com) – half of Helena and the central part of the State; or
  • Gary Whitney (Gary.Whitney@gwrs.com) – the eastern part of the State and the Hi-Line.