Retiree Benefits

Effective Date:

Revised: 3/1/99, 10/1/99

Purpose:

To define a Centenary College Retiree and to list the benefits available to retirees.

Policy:

Definition of a Centenary College Retiree

A Centenary College retiree is defined as a terminated employee whose age plus years of full-time continuous service at Centenary College equal 75, with a minimum of ten years full-time service to the College.

Benefits of a Centenary College Retiree

  1. A retiree is eligible to receive two tickets for any Centenary sporting event or any Centenary theater production. The retiree should contact the appropriate ticket office in advance of the event to request tickets.
  2. A retiree is eligible to eat in Bynum Commons dining hall at the faculty/staff discount rate.
  3. A retiree is eligible to use Magale Library and check-out items according to Library policy.
  4. A retiree is eligible to retain their e-mail address as an active account through our system as long as they desire to do so.

Employees hired before September 1, 1995

  1. A retiree may continue medical insurance if he/she and any dependents he/she wishes to over have been enrolled in the medical plan offered by Centenary College for the three months prior to retirement by paying the entire amount of the premium for the insurance. Once the retiree reaches age 65 the medical insurance available through the College becomes secondary to Medicare coverage. If the spouse of the covered retiree is under the age of 65 and otherwise covered by the insurance available through the College, full coverage will continue until he/she reaches age 65 when this insurance becomes secondary to Medicare coverage. All dental insurance ceases upon retirement.
  2. A retiree has the option to retain Centenary College’s life insurance coverage of $5,000. A retiree is responsible for payment of the insurance premiums. Retiree’s dependent’s are not eligible for coverage.

Last updated 20 July 2000

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