Life Insurance - The Standard

Term Life Insurance
District Paid Benefit - 1x Annual Salary to Next $1,000

Accidental Death & Dismemberment

Retiree Benefit - Prepaid - If you retired on or before 6/30/2015, benefits are paid up if you retire at age 55 or older until you reach age 65, and you meet one of the following:
    1.  10 years of service in the State of Wisconsin Retirement System
    2.  10 years of coverage under WEA Trust group term life insurance plan that includes
          the Retiree Benefit-Prepaid.
    3.  10 years of service with the current employer.  
              Benefits are subject to the reduction schedule as follows:
              Retired Employees:
              Under Age 65             100%
              Age 65                      75%
              Age 66                      50%
              Age 67 or older          25%     

Pay As You Go - If you retire on or after 7/1/15 and choose to continue the policy at your own cost, you must make monthly payments. To continue coverage, the cost is $1.07 per $1,000 coverage (i.e. if your coverage level is $28,937.50, your monthly premium would be $30.96 per month). In addition, there is a $30.00 annual Administration Fee. You will be required to complete a form prior to your retirement indicating your decision to continue coverage or to drop coverage.

Eligibility for Coverage
Employees hired to work at least 20 hours per week
Coverage begins on date of hire

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