What about Medical
Insurance?
Participants in the
Active Retirement program receive $1,500.00 per year of wages in lieu of
benefits. MCCCD will offer COBRA coverage to retirees at the time of retirement.
COBRA is a temporary extension of coverage at the group rate for up to eighteen
(18) months. Retirees who elect COBRA coverage will waive the $1,500.00 of
credits given to retirees for the full number of years your are eligible to
participate in the
Active Retirement program. As MCCCD does not provide the Active Retirees medical
and dental insurance, most retirees choose to sign up for insurance with the
Arizona State Retirement System. The phone number to contact ASRS is 602
240-2000, for more information about their program.
How is the
$1,500.00 paid to me?
The benefit credits
are paid over twenty four (24) pay periods, even if you were a nine month
employee prior to retirement. This amounts to $62.50 of taxable income twice a
month.
Can I continue
my life insurance coverage?
When you retire you
may do a conversion of your life insurance coverage if you are under age 70. If
you participate in the active retirement program you may continue up to $50,000
of life insurance coverage at the group rate. The amount you continue depends on
the amount you have at the time of retirement.
What about
Flexible Spending accounts?
Retirees are not
eligible to participate in Flexible spending accounts. If you are participating
in one, at time of retirement, make sure you have all expenses incurred and paid
for prior to your last date of employment. You will have ninety (90) days to
submit your claim for reimbursement.
Can I continue
my Tax Sheltered Annuity?
Yes, retirees may make
contributions to the TSA program. When you retire your contributions will be
terminated, so you will need to submit a salary reduction agreement to restart
deductions. Call the benefits office to request a form.
Do I receive
sick time?
Sick leave is neither
earned nor can it be used by participants in the Active Retirement Program. If
the absence is one or two days the retiree may be assigned another duty to make
up the time. If a longer absence occurs, the pay will be docked.
Are retirees
eligible for tuition waivers?
Yes, participants in
the Active Retirement program can take classes at any of the Maricopa Community
Colleges and have the tuition waived. Spouses and dependents of Active Retirees
are not eligible for tuition waivers.
