Retirement Information for Retirees Over 65 Years of Age
Medicare Part A and B will be your primary health insurance.
The first 1-2 months after retirement, HealthSelect will be your secondary insurance. Within the first 2 months after retirement, your secondary insurance will shift to HealthSelect Medicare Advantage Plan, a preferred provider organization (PPO). This plan is administered by United Healthcare.
See the Summary of Benefits for HealthSelect Medicare Advantage Plan to review highlights of the plan. See the Plan Guide for HealthSelect Medicare Advantage Plan to review details on coverage.
Prescription Drug Coverage
Prescription coverage after retirement will be provided through HealthSelect Medicare Rx Prescription Drug Plan. This plan is administered by United Healthcare.
Is Retirement an Opportunity to Make Election Changes?
Yes. Once ERS receives your Retiree Insurance Enrollment Form, they will send you a welcome packet. That packet will include a summary of your current elections, and instructions on how to make election changes as you transition from active employee to retired employee. You will only have 30 days from your retirement date to make those election changes, so be sure to watch for that welcome packet to arrive. If you do not wish to make changes, you do not have to make changes.
Important Information About Paying Insurance Premiums to ERS
ERS will not send payment reminders or payment books. ERS expects the retiree to remember to make the payments, and will cancel coverage if payment is not received. Premiums are due to ERS by the 5th of each month. Retirees pay premiums in advance (as opposed to in arrears while an active employee). The first month of retirement will possibly feel as if you are duplicating payment because your final paycheck from TWU will include premiums for the final month as an active employee, and ERS will expect payment in advance for the first retiree premium by the 5th of that month. For example: If you retired December 31st, your final paycheck will have premium deductions for December coverage, and ERS will expect retiree premiums to arrive by January 5th.
Options for payment of insurance premiums to ERS are:
- Mailing a check to ERS each month
- Authorizing ERS to auto-draft premiums from your bank account each month
- If you are retiring through TRS (not ORP) you can authorize that your premiums be deducted from your monthly TRS annuity by requesting it in writing when you send your first premium payment to ERS.
All insurance premiums after retirement are deducted post-tax.
Premiums are to be mailed to: ERS P.O. Box 13207 Austin, TX 78711-3207
Payout of accrued Sick Leave upon Retirement
There is no payout of Sick Leave accruals upon retirement from TWU. If you wish, you may choose to donate a portion or all of your unused accrued Sick Leave to Sick Leave Pool, Family Leave Pool, or a Sick Leave Direct Donation.
At What Point In The Year Do I Have Credit For a Full Year of Service?
If you complete the fall semester and are paid for the full month of December, you will gain service credit for the full fiscal year if this is the year in which you retire. You must not have any portion of December unpaid to gain the full fiscal year of service credit. Faculty will remain on the payroll through January 15th in or to receive the full pay out of their contract for the fall semester.
Parking On Campus After Retirement
Once you are completely retired, you can contact the TWU Parking Office at 940-898-2925 for a parking permit that allows you to park in Silver and Maroon lots. These permits are currently at no charge to the retiree.
Silver Sneakers is one of the additional benefits/programs you will have access to at no additional charge through HealthSelect Medicare Advantage Plan.
Retiring through ORP
If you are an ORP Retiree, contact your vendor representative(s) if you wish to receive distributions from your ORP account. NOTE: You must leave some funds in your ORP account in order to continue to receive retiree insurance benefits.
Retiring through TRS
If you are a TRS Retiree, you must complete the TRS 18 form (in your packet from TRS or on the TRS webpage) no more than 3 months prior to retirement for an estimate of benefits.
Voluntary Retirement Programs
If you have personal savings through Texa$aver or TDA 403b, contact your vendor representative directly.
Plan to Attend the Annual Retirement Ceremony Honoring the Previous Year’s Retirees
If you retire after January 31st, please be sure to provide the Benefits Team in the Office of Human Resources with an official notice, or copy of your resignation letter. This will guarantee your name is included in the upcoming annual ceremony.
TWU Exit Packet
We encourage all retirees to complete the TWU Exit Packet. This packet includes the form used to donate remaining sick leave to the Sick Leave Pool if you wish to do so.
- TWU Benefits: 940-898-3552
- Texa$aver 457 Plan: 800-634-5091
- TRS: 800-223-8778
- Social Security : 800-772-1213
- ERS: 877-275-4377
ORP/TDA Authorized Provider List
Page last updated 9:44 AM, October 17, 2022