ACTION - New Retiree Member

ACTION
RETIREMENT AWARENESS
PRE-RETIREMENT
PROSPECTIVE RETIREE LETTER

Dear Prospective Retiree:

This section of the PEF Retirees web-site is provided so that you, as a prospective retiree, can better plan for the days ahead. Retirement can be a dramatic change both for you and your family. We have tried to include information that will be helpful in making the transition less stressful and your retirement more enjoyable.

In the following pages, you will find information regarding the change in available benefits and the processes for continuing your current benefits or obtaining new ones.

PENSION INFORMATION:

When you retire, your pension is provided by New York State and is administered through the New York State and Local Retirement System which is in turn is run by the NYS Comptroller. All questions about, or problems with, your pension has to be addressed to that office. Depending upon the workload in the Comptroller’s office and the speed with which your last agency provides the data, computation of your permanent pension may take from a few weeks to a few months. You will receive checks during this interim period but they may not be for the exact amount. Any difference owed to you will be covered by a lump sum payment when the computation is complete.

A beneficiary of a retired state worker may be eligible for a death benefit and these are also handled by the Retirement System.

Contact information:

NYS & Local Retirement Systems

110 State Street

Albany, New York 12244-0001

Albany, NY area: (518) 474-7736

Toll free: 1 (866) 805-0990

Web: www.osc.state.ny.us/retire

HEALTH INSURANCE AND PRESCRIPTION DRUG COVERAGE

As a benefit associated with State service, retirees are given the option to maintain their health insurance at the same rate as they paid as active NYS employees. This benefit is administered through the NYS Department of Civil Service Health Insurance Unit. Arrangements for this should be handled by your agency Health Benefits Administrator, before your last day of State employment. All questions about, or problems with, your health care coverage have to be addressed to that office. The health insurance will be billed monthly by NYS Civil Service until the final pension computation is made. These bills must be paid by you, by check, in a timely fashion. When the final computation is made, you will be given the option to pay the health care premium via pension check deduction.

In January 2008 the United HealthCare prescription program partnered with “Medco” for retail pharmacy network and mail pharmacy services.

Contact information:

NYS Department of Civil Service

Employees benefits Division (Empire Plan)

Alfred E Smith Office Building

80 Swan Street 5^th Floor

Albany, New York 12239

Albany/NY area: (518) 457-5754

Toll free: 1 (800) 833-4344

Web: https://www.cs.ny.gov

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