Retirement Info

The retirement process happens through your Central Office HR person; here is the overview.

You will need to complete a Transfer to Retirement form. This needs to go to the HR person at your Central Office. This should be done in April/May, if you are retiring in June.

If you are covered by a teacher’s contract then your retirement date will be June, although you will continue the district’s health insurance until the end of August. You will be billed or have a deduction from your retirement pension deposit in August to pay for September- as a retiree, you are billed a month in advance.

If you are not covered by a teacher’s contract then your retirement date will be June, and you will be billed in June to pay for the month of July.

If you are eligible for the State of Maine 60% contribution towards your premium (or your portion of the premium for anything more than a single plan),

(1.) you will need to have reached your normal retirement age (with MePERS) and

(2.) you will need to have your health insurance premium deducted from your MePERS pension deposit. If you are unsure if you are eligible, the HR person will have this information in your personnel file and

(3.) you must have a position classification code that starts with a Y, i.e., teacher = Y0101.

As a retiree, you have the option of any of the five-plans that we offer to members.

If you want to change plans upon retirement, you need to complete a member enrollment form.

The retirement process happens through your Central Office HR person; here is the overview. You will need to complete a Transfer to Retirement form. This needs to go to the HR person at your Central Office. This should be done in April/May, if you are retiring in June.

If you are covered by a teacher’s contract then your retirement date will be June, although you will continue the district’s health insurance until the end of August. You will be billed or have a deduction from your retirement pension deposit in August to pay for September- as a retiree, you are billed a month in advance.

If you are not covered by a teacher’s contract then your retirement date will be June, and you will be billed in June to pay for the month of July.

If you are eligible for the State of Maine 60% contribution towards your premium (or your portion of the premium for anything more than a single plan),

(1.) you will need to have reached your normal retirement age (with MePERS) and

(2.) you will need to have your health insurance premium deducted from your MePERS pension deposit. If you are unsure if you are eligible, the HR person will have this information in your personnel file and

(3.) you must have a position classification code that starts with a Y, i.e., teacher = Y0101.

You will need to obtain both Medicare A and Medicare B, prior to completing the Medicare Advantage PPO with Senior RX retirement group plan Enrollment/Election form.

Medicare Advantage Enrollment Guide

1. SPLITTING POLICIES: If you and your spouse are both employed by a school district that offers our insurance, and currently you are on a two-person policy.

Upon Retirement,

1. If one retires prior to the other: retiree can take their insurance into retirement group plan OR remain on the active spouse’s insurance (if allowed by the district). You can choose whichever is best for you financially, then when active spouse retires, you need to split your policy as described below.

2. If both are retiring at the same time, then please split your two-person policy into two single policies. As two singles are less expensive and if you are both eligible for the State of Maine’s contribution, the contribution is only paid towards the policy holder- so you both need to be your own policy holder.

2. BREAK PROVISION: If you separate from employment and have alternative insurance options available then you can take the Break Provision. You can only take the break if you have met the basic eligibility guidelines. You can only be on the Break Provision for up to 5 years OR age 62 whichever comes first. You are responsible for returning to the retirement group plan before the end of 5 years or age 62.

3. RETIREMENT INSURANCE: Until age 65, you have the choice of any one of the 5 plans we offer in retirement, plan comparison. At age 65, you need to move over to the Medicare Advantage PPO with Senior RX Plus plan, after you acquire Medicare A and Medicare B.

PLAN ADDITIONS: Once you are in the retirement group plan for your health insurance, it is a closed, private retirement policy; no one can join unless it is a new marriage, domestic partner, birth of a child or adoption.