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Retirement Benefits - FY2004 (REVISED) <br /> February 13, 2004 <br /> ' Page 3 of 3 <br /> ' Life Insurance <br /> Your term life insurance policy is provided through Standard Insurance Company and ceases at the end <br /> ~ of the month in which you terminate. You may convert to an individual life insurance policy within 30 <br /> ' calendar days of your retirement. To do so, call HRRS at x8868 for conversion information. <br /> If you have Portable Term Supplemental Life Insurance, you may continue your coverage by paying the <br /> premiums directly to ReliaStar. Call HRRS at x8868 to obtain a Direct Billing Request Form. <br /> Flexible Spending Accounts <br /> If you have a medical flexible spending account, you may continue to contribute to your FSA after your <br /> termination of employment. Call x8868 for more information. <br /> <br /> j Public Employees Retirement System (PERS) Members <br /> In order to retire under PERS, you must be "vested." You are vested in PERS if you have made <br /> contributions in any part of five calendar years; or if you are 50 years of age or older while working in <br /> a covered position (45 years of age if sworn police officer or fire fighter). To receive retirement <br /> benefits, you must have 30 years of PERS service or be at least 55 years of age (50 years if sworn <br /> police officer or fire fighter with 25 years of sworn service in PERS). <br /> Contact PERS in Tigard, Oregon toll free at 888-320-7377 (or their web site: www.pers.state.or.us) for <br /> more information on applying for benefits and work restrictions after retirement. <br /> Deferred Compensation <br /> Contact your deferred compensation carrier for information on deferred comp account distribution and <br /> rollover options. Carrier local telephone numbers are: <br /> ING - (541) 343-2928 <br /> Pacific Cascade Federal Credit Union - (541) 687-2146 <br /> Variable Annuity Life Insurance Company (VALIC)* - (541) 687-2221 <br /> * VALIC retains portions of employee's Fixed Account Plus funds. After March 10, 2004, former. <br /> employees may elect to transfer fixed assets from VALIC to ING without cost or penalty. Contact the <br /> carriers for more information. <br /> Notice of Intent Form <br /> Please complete each section of the attached Notice of Intent and Notice of Qualifying Event forms and <br /> return them to your supervisor before .your last work day. They will be processed with your <br /> Termination Personnel Action Form (PAF). <br /> Attachments <br /> (Retiree04c.doc -revised 2/2004) <br /> <br />