Life Insurance

Group Life Insurance coverage is available to members of the state retirement systems without a medical examination if they are age 60 or younger at the time of their enrollment in the pension plan.

Waiver of Non-Contributory Life Insurance over $50,000
Members may waive their Non-Contributory Group Life Insurance over $50,000 to avoid possible Federal and State tax liability on that benefit by completing a Waiver form. Members may complete and return the waiver to the Payroll and Benefits Office. Waiver forms are forwarded to the Division of Pensions and Benefits on or before December 31 to be effective January 1 of the next calendar year. Once a waiver form has become effective, it shall be irrevocable for the entire calendar year.

The waiver will remain in effect until the member requests to rescind by completing a Reinstatement form. The reinstatement will not become effective until January 1 of the following year. Any member who waives the Non-Contributory Life Insurance, must waive the total amount of coverage in excess of $50,000. Waivers of partial amounts are not be permitted.

If the waiver is in effect upon termination of employment or retirement, the member will be unable to convert any amount of their Non-Contributory Life Insurance coverage in excess of $50.000. Waiver and Reinstatement forms can be obtained in the Payroll and Benefits Office.

Alternate Benefit Program (ABP)
Members of the ABP are provided non-contributory group life insurance coverage underwritten by Prudential equivalent to 3 1/2 times their preceding twelve months base salary.

Public Employees' Retirement System (PERS)
Members of the PERS are provided non-contributory group life insurance coverage underwritten by Prudential equivalent to 1 1/2 times their preceding12 months base salary. During the first year of employment, the employee must participate in the contributory life insurance program which provides an additional 1 1/2 times the base salary for a benefit totaling three times the employee's preceding 12 months base salary. Continued participation in the contributory life insurance program is optional after the first year.

Police and Firemen's Retirement System (PFRS)
Members of the PFRS are provided non-contributory group life insurance coverage underwritten by Prudential equivalent to 3 1/2 times their preceding 12 months base salary.

    Note: While on a leave of absence with pay, insurance will continue during the entire period of the leave. In order to guarantee continued coverage while on a leave without pay, the length of time of continued coverage depends upon the reason for the leave. Refer to the Leave of Absence section for additional information.