[ Up ] [ 403B Summary ] [ Post Retirement ] [ Exempt Handbook ] [ Benefits Contact Information ] [ Flex Spending ] [ Retirement Planning Information ] [ SUMMARY ANNUAL REPORTS ] [ Nonexempt handbook ]

Post Retirement Medical Plan
 
Contents of page: (click to skip ahead)
Retirees before 7/1/99 and Grandfathered Employees
Retirees after 7/1/99
  • Retirees before 7/1/99 and Grandfathered Employees:

No change to benefits except that University contributions will now be made for retirees between age 55 and 60.

Age 55-59: The University contributions for this group will be a multiple of the University's then current contribution to an active employee's single plan. This multiple is the then current ratio of active to retiree plan cost. For 1999-00, the contribution will be 175% of the active single rates. Contributions to the family plan will be 1.5 times the contribution for retiree single plans. The contributions described above are received by retirees with 20 or more years of benefit eligible service. The contribution decreases by 5% for each lesser year of service. There are no benefits paid to retirees with less than 10 years of service.

Age 60-65: The University contributions for this group are based on benefit eligible years of service. The maximum University contribution is received by retirees who have 15 or more years of benefit eligible service. The percentage contribution for single plans begins with 90% and decreases by 9% for each lesser year of service and begins with 66.7% for family plans and decreases 6.7% for each lesser year of service. There are no benefits paid to retirees with less than 10 years of service. (The contribution change will be effective on the July 1 of the plan year in which the retiree reaches age 60.)

Post 65: The University contributions for this group are based on benefit eligible years of service. The maximum University contribution is received by retirees who have 15 or more years of benefit eligible service. The percentage contribution for the Medicare Supplement plan begins with 90% and decreases by 9% for each lesser year of service. There are no contributions made to retirees with less than 10 years of benefit eligible service or for the retiree's spouse.

One or more over/One or more under 65: The University contributions for this group are based on benefit eligible years of service. The maximum University contribution is received by retirees who have 15 or more years of benefit eligible service. The percentage contribution begins with 66.7% and decreases 6.7% for each lesser year of service. (Premiums are calculated using the cost of one Medicare supplement and one single under age 65 plan)

The University of Dayton reserves the right to change benefits and/or contribution levels at any time.

All non-grandfathered employees who retire after 7/1/99 will receive the following benefits:

Pre-65: A fixed multiple of the University's then current contribution to an active employee's single plan. This multiple is the then current ratio of active to retiree plan cost. For 1999-00, the contribution is 175% of the active single rate. Contributions to the family plan will be 1.5 times the contribution for retiree single plans. The contributions described above are received by retirees with 20 or more years of benefit eligible service. The contribution decreases by 5% for each lesser year of service. There are no benefits paid to retirees with less than 10 years of service.

Post-65: A fixed monthly contribution of $80 toward the purchase of one of the University sponsored Medicare supplement plans. The maximum contribution is received by retirees with 20 or more years of benefit eligible service. The contribution decreases by 5% for each lesser year of service. There are no benefits paid to retirees with less than 10 years of service. There is no contribution toward the cost of Medicare supplements for the retiree's spouse.

One or more over/One or more under 65: The University contributions for this group are based on benefit eligible years of service. The maximum University contribution is received by retirees with 20 or more years of benefit eligible service. Contributions will be 1.1 times the single retiree contribution. The contribution decreases 5% for each lesser year of service. There are no benefits paid to retirees with less than 10 years of service. (Premiums are calculated using the cost of one Traditional Medicare plan and one single under 65 plan).

The University of Dayton reserves the right to change benefits and/or contribution levels at any time.

 

This site is maintained by the Office of Human Resources.  Direct questions to Stefanie.Rich@notes.udayton.edu.

University of Dayton
St. Mary's Hall Room 118
300 College Park
Dayton, OH 45469-1614