Retiree Benefits Summary - Human Resources

Purpose of this Summary

Thank you for your dedication, commitment and years of service to Syracuse University. This summary is intended to provide a brief overview of the benefits and services available to those who retire from the University on or after Jan. 1, 2006.

Eligibility

In order to participate in retiree benefits, you must be at least age 55 and have at least five consecutive years of service as a Benefits Eligible Employee through retirement. The term, “Benefits Eligible Employee” is defined in the Syracuse University Benefits Eligibility Policy maintained by the Office of Human Resources.

Retiree Health Insurance

Medical Coverage

Lifetime retiree medical coverage is available to you and your qualified dependents. You may elect to be covered under either the medical plan you were enrolled in at the time of retirement – SUBlue, SUOrange or SUPro – or you may switch your plan option. If you were not enrolled in a Syracuse University health plan prior to retirement, you may elect coverage for yourself and your qualified dependents upon retirement. Once your retirement elections are made, you will not be able to add any additional dependents.

Your retiree coverage under SUBlue, SUOrange or SUPro will be consistent with the coverage provided to active employees, with the following exceptions upon Medicare-eligibility:

You and your qualified dependents are required to enroll in Medicare Parts A and B immediately and provide a copy of your Medicare card to Lifetime Benefit Solutions. You will be responsible for the cost of Medicare Part B. Medicare will pay primary and the University will pay secondary under the Medicare carve-out integration method. As a participant, this will not change the amount you have to pay for cost-sharing (copays, deductibles, coinsurance, etc.). Your physician will first submit your claims to Medicare and any unpaid balance will be forwarded to Excellus BlueCross BlueShield (BCBS) automatically. Excellus BCBS will then apply the University’s plan benefit after reducing for Medicare coverage.
Even if you do not enroll in Parts A and B immediately, the Syracuse University Retiree Medical Plan will reduce the benefit available by the amount Medicare would have paid, which will increase your costs for any services that Medicare would have covered. In addition, you may pay increased Part B premiums if you fail to enroll within three months of your retirement date.
Prescription drug coverage is not available under the University plans. Retirees and their eligible dependents are encouraged to consider prescription drug coverage offered through Medicare Part D. The cost for this coverage is paid for directly by the retiree.

It is important to know that Medicare does not allow individuals to enroll in partial month coverage. Therefore, you are strongly encouraged to be enrolled in Medicare Parts A, B, and D as of the first day of the month in which you retire, or become eligible for Medicare if later.

Contributions

The University’s subsidy is based on your years of credited service as a Benefits Eligible Employee after age 45, as shown below:

Credited Service After Age 45	University Subsidy toward Retiree Medical Coverage
1 - 9 years	none
10 years	30%
11 years	33.5%
12 years	37%
13 years	40.5%
14 years	44%
15 years	47.5%
16 years	51%
17 years	54.5%
18 years	58%
19 years	61.5%
20 or more years	65%

This subsidy schedule is applied to the capped retiree-specific premiums to determine the University’s subsidy. Retiree contributions represent the difference between the total cost and the University’s subsidy. The cap on retiree-specific premiums is a rising ceiling indexing the initial University cost in 2006 to the general rate of inflation plus 3.0 percent in succeeding years. The University’s share of the per capita costs in each succeeding year is incremented by the percentage increase in the actual medical cost trend, or to this ceiling, whichever results in the lesser increase. The retiree is responsible for any additional cost above the cap.

Opt Out/In Provision

Opt Out/Opt In is a provision of the Syracuse University Retiree Medical Benefits Plan (Plan) for individuals who are eligible for subsidized retiree health care coverage. The Opt Out/Opt In provision allows eligible individuals the ability to waive out of the Plan with the option to opt back into the Plan at a later date, under certain circumstances. This feature offers individuals the flexibility to consider other options that may better suit their needs. The requirements for opting back in include the following:

Not Eligible for Medicare – If the retiree or dependent is not eligible for Medicare on the date selected for opting back into coverage, he or she can opt back into coverage only if he or she can provide written proof of continuous medical coverage for the entire period that he or she was not covered by the Plan as a result of the opt-out election. Proof must be provided in such form and manner as specified by the Office of Human Resources. There is no limit on the number of times a retiree or dependent can opt into the Plan under this eligibility requirement.
Eligible for Medicare – If the retiree or dependent is eligible for Medicare on the date selected for opting back into coverage, he or she can do so without providing proof of continuous medical coverage. A retiree or dependent can opt into the Plan only once under this eligibility requirement.

A retiree or eligible dependent can opt back into the Plan only if he or she formally opted out of a plan coverage option (SUBlue, SUOrange, or SUPro), which is recorded in the records of the Office of Human Resources. Upon opting back into the Plan due to a qualifying life event or Medicare eligibility, if a family member is already enrolled, the participants opting in must enroll in that same plan coverage option. If there are no family members enrolled in a plan coverage option, the participants may choose whichever plan coverage option they wish to enroll in. During open enrollment for the Plan, the retiree and family members may switch their plan coverage option, but they must all be enrolled in the same plan coverage option.

The Health Plans and the Marketplace

All three retiree health plans, SUBlue, SUOrange, and SUPro, meet the coverage requirements of the Affordable Care Act. However, given the variety of health insurance options available through the Marketplace of private insurers and the subsidies available, you may want to consider whether private insurance is a good option for you and your dependents.

More information on the Marketplace is available by phone at 800.318.2596 (federal) and 855.355.5777 (New York State), and online at healthcare.gov (federal) or nystateofhealth.ny.gov (New York State). You should also compare the coverage and cost of these plans with those available to you through a spouse or domestic partner.

Dental, Vision, and Health Care Flexible Spending Account (FSA)

Dental and vision coverage ends upon retirement. You will receive information about continuing coverage under COBRA for up to 18 months. If you choose to continue coverage, you pay the full cost of coverage, plus a 2% administrative fee.

If you have unclaimed funds in your Health Care FSA account, you may be able to continue your coverage under COBRA. Electing COBRA to continue your Health Care FSA will require you to pay your contributions on an after-tax basis, but it allows you to submit expenses to HealthEquity|EZ Receipts that are incurred after your last day worked.

You can terminate COBRA coverage at any time. If you have any questions, contact HR Shared Services at 315.443.4042.

Enrollment

Upon retirement, you will receive an enrollment packet from Lifetime Benefit Solutions (LBS). LBS is the University’s Retiree Medical & COBRA billing administrator. Your packet will include information on the benefit options you can choose from as a retiree, including information regarding any medical, dental/vision, and health care flexible spending account (FSA) coverage that you may have under COBRA, as well as election forms to designate your selections. When you receive your packet, we would be happy to review your materials with you. To schedule a meeting or simply request a phone consultation, you may contact HR Shared Services at 315.443.4042.

Retirement Benefits

Syracuse University provides a retirement benefit through our partnership with our retirement plan administrator, TIAA, to offer you a diverse group of investments, personalized financial advice, and valuable tools to make managing your retirement portfolio easier.

The University’s microsite provides an easy way to navigate through the University’s retirement plan. TIAA also has a dedicated team for you to get answers to questions or schedule an appointment with a financial consultant by calling 855.842.2873 (TTY: 800.842.2755). TIAA representatives are available in the Syracuse area and in many locations throughout the country for one-on-one advice sessions. Whether you want to discuss your current portfolio allocations or review your disbursement options for drawing income from your retirement account, we encourage you to go online or call the dedicated team above to schedule an appointment.

Life Insurance & Long-Term Disability (LTD)

Retiree Life Insurance: Upon retirement, the University provides $3,000 of basic life insurance coverage at no cost to you.

Converting Your Life and LTD Coverage: Excess life insurance coverage exceeding $3,000 and LTD may be converted to individual policies within 31 days of retirement through MetLife and The Standard, respectively. MetLife and The Standard will send you paperwork about converting any coverage you had into individual policies. The life insurance coverage may be converted into an individual whole life policy.

To convert your coverage, you must complete the paperwork and submit it with your first premium payment to MetLife and/or The Standard by the applicable deadline to bind the coverage (generally, within 31 days of your last day of employment).

Updating Beneficiaries: You may access the MetLife Insurance Beneficiary Form [PDF] and return your completed form to HR Shared Services. We encourage you to review your beneficiaries annually to ensure that your wishes are current.

Educational Benefits

Remitted Tuition

You may continue your eligibility for the same number of remitted tuition credit hours as when actively employed if you retire from the University at age 55 and have at least five consecutive years of service as a Benefits Eligible Employee. Remitted tuition is applicable to graduate or undergraduate courses taken at Syracuse University. Some or all of your remitted tuition credits may be transferred to your spouse or same-sex domestic partner. Spouses or same-sex domestic partners who receive benefits transferred from a retiree will receive a tuition waiver of 85 percent.

Important Tax Implications for Remitted Tuition:

Remitted tuition benefits used by a Syracuse University retiree or their spouse for undergraduate level courses are tax free.
Remitted tuition benefits used by the same-sex domestic partner of a Syracuse University retiree for both undergraduate and graduate level courses are taxable.
Remitted tuition benefits used by a Syracuse University retiree for graduate level courses are tax free up to $5,250 per calendar year. Remitted tuition benefits used by the retiree for graduate level courses in excess of the annual $5,250 limit will be taxable.
Remitted tuition benefits used by the spouse of a Syracuse University retiree for graduate level courses are taxable.

The University is responsible for collecting the tax in cases where remitted tuition benefits are taxable. The University will bill you for any taxes owed at the time the benefit is used. The University’s Remitted Tuition Policy is available online, and any questions regarding taxes should be directed to the Comptroller’s Office.

Dependent Tuition

Employees who retire from the University with at least seven years of continuous full-time equivalent employment prior to their retirement, may apply to have their eligible dependents participate in the Dependent Tuition Benefit Policy.

A dependent of a retiree who does not have seven years of continuous full-time equivalent employment prior to their retirement, will continue to be an eligible dependent under the terms of the Dependent Tuition Benefit Policy at the time of the employee’s retirement.

Retiree and Family Services

Comprehensive Counseling and Life Management Services

Through the Faculty and Staff Assistance Program (FSAP), comprehensive counseling and resources are available to retirees who are eligible for the Retiree Medical Plan, and their dependents. Licensed, credentialed counselors are available 24 hours a day, 7 days a week, 365 days a year. They provide independent, confidential counseling, information, and referrals to local, in-network clinicians. Phone and face-to-face counseling are both available. The FSAP provider is AllOne Health. You can reach AllOne Health by calling 800.451.1834 (TTY: 711).

Group Auto and Home Insurance Program

Retirees may participate in Syracuse University’s group auto and home insurance program through Farmers Insurance Group. To request a free quote, please contact Farmers at 800.438.6388.

Emeriti Faculty Privileges

Library Access: Checkout, interlibrary loan, and remote and on-campus access available. Contact 315.443.5727 or circhelp@syr.edu with any questions.

University NetID & Email: Retained upon retirement regardless of emeriti status.

Technology: Microsoft 365, OneDrive, and Zoom (annual password renewal required). Adobe and Blackboard access are dependent on prior access. Contact the ITS Help Desk at 315.443.2677 or help@syr.edu with any questions.

Parking: Emeriti parking pass valid in any non-gated campus lot on a space-available basis. Contact Parking and Transit Services at 315.443.4652 for further information.

Questions

If you have any questions regarding retiree benefits or the information provided in this summary, please feel free to contact HR Shared Services at 315.443.4042.

Helpful Links

The benefits listed above apply as indicated to retired and emeritus faculty and retired staff members of Syracuse University. All benefits programs are subject to change. If any discrepancies exist between program-related communications and the Plan Document, the terms and conditions detailed in the Plan Document will control.