Benefits Summary for Prospective and Current University Retirees

When an appointed employee decides to retire from the University of Denver certain benefits may continue. These benefits are based on years of service and appointed status at the time of retirement. Listed below is an overview of the benefits.

Health Insurance

Appointed employees hired prior to January 1, 1992, with at least ten years of service, and age 55 may continue their health or dental insurance provided that they were actively enrolled in the plan on the date of retirement. Appointed employees hired on or after January 1, 1992, are eligible for retirement after twenty years of service and age 55.

The University currently contributes up to $60 per month toward the retired employee’s University group health insurance premium. The retired employee is responsible for the balance of each monthly premium and failure to pay the balance when due will result in termination of Health Insurance coverage. Coverage will be continued for the retiree’s eligible dependents, even in the event that the retiree predeceases these dependents, provided that they were enrolled on a University group health insurance plan at the time of retirement or the retiree’s death. These eligible dependents are responsible for paying each month’s total premium following the retiree’s death. The retired employee or surviving dependent’s premium share is due on the first of each month. If the retiree or surviving dependent decides to completely cancel University Health Insurance at any time, he or she will be ineligible to re-enroll at a future date.

Medicare Supplement Plan

Once the retired employee reaches the age of 65, he or she must enroll in one of the University’s Medicare supplement plans to continue in the University’s group plans. In order to enroll, the retiree must have parts A and B of Medicare. The same applies to a dependent spouse once he/she reaches age 65.

Dental Insurance

Dental insurance can be continued at retirement. The University does not share dental premiums, so the retiree will be responsible for the entire premium. The retiree will pay the monthly premium by the first of each month.

Open Enrollment

Retired employees may change coverage, or add or delete dependents at future benefit enrollment periods. Retiree insurance benefits are subject to rate and plan changes.

Life Insurance

Appointed employees, age 55, with at least 30 years of active service on the date of retirement may continue their Core Life Insurance in retirement until age 70. Core Life benefits reduce by 35% at age 65. The University pays the Core Life premium. The retiree with at least 30 years of active service may also continue his/her own group voluntary life insurance by paying the premium. All retiree life insurance terminates at the end of the month following the retired employee’s 70th birthday.

Group dependent life insurance will terminate on the last day of the final month of active service. For retired employees who do not meet the 30 years active service criteria, CORE and group voluntary life Insurance will also end on the last day of the final month of active service. Portability and/or conversion privileges may apply.

Core Disability Insurance, Core AD&D Insurance, & Flexible Spending Accounts

All Core Disability, Core Accidental Death and Dismemberment, and Flexible Spending Account benefits terminate upon retirement.

Premium Payment

DU’s third party administrator, Healthsmart, Inc., handles the collection of most retiree insurance premiums. Healthsmart will mail a billing statement to the retiree or the surviving dependent’s home each month requesting payment for the following month’s premium(s).

Premiums for The Hartford retiree health insurance plans, however, are not collected by Healthsmart. Retirees or surviving dependents covered by The Hartford can either opt to have premiums automatically withdrawn from their checking accounts or to be billed quarterly by "NEBCO", the company that handles the billing process for our Hartford plans.

Tuition Waiver

Please refer to the Retiree Tuition Waiver Summary sheet for more information, or call the Human Resources/Benefits Office at 303.871.7420 for specific information about retiree tuition waiver eligibility and activation.

Retiree ID Card

The Pioneer Card Access Office will issue the retiree and his/her spouse a retiree ID card to replace the Faculty/Staff ID card. The ID card entitles retirees and their spouses to the same privileges as an active University employee, except for the ECO Pass.

Retirement Plans

Please contact the retirement plan company (TIAA-CREF, Fidelity Investments, etc.) directly and they will send you information on how to settle your retirement contract(s). Their telephone numbers can be obtained through the Human Resources Office. Contact information can also be viewed at www.du.edu/hr/benefits/retirees_links.html

Please make sure to refer to the Retirement Funds after Separation from Service document for additional information on DU’s procedure for processing distributions forms.