Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections
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Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

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12.07.2015 Views

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIESRETIREMENT DATEJuly 1, 2003, through June 30, 2004July 1, 2004, through June 30, 2005July 1, 2005, through June 30, 2006July 1, 2006, through June 30, 2007July 1, 2007, through June 30, 2008July 1, 2008, and laterBENEFITTo be eligible for retiree medical insurance,the Eligible Retiree must have at least one year ofcontinuous participation in the Health Planimmediately prior to RetirementTo be eligible for retiree medical insurance,the Eligible Retiree must have at least two yearsof continuous participation in the Health Planimmediately prior to Retirement.To be eligible for retiree medical insurance,the Eligible Retiree must have at least three yearsof continuous participation in the Health Planimmediately prior to RetirementTo be eligible for retiree medical insurance,the Eligible Retiree must have at least four yearsof continuous participation in the Health Planimmediately prior to Retirement.To be eligible for retire medical insurance, theEligible Retire must have at least five years ofcontinuous participation in the Health Planimmediately prior to Retirement.To be eligible for retiree medical insurance,the Eligible Retiree must have at least five yearsof continuous participation in the Health Planimmediately prior to Retirement.For purposes of calculating years of continuous participation in the Health Plan, the same rules whichare applicable for calculating whether the Eligible Employee has earned Years of Service will be applied.DENTAL INSURANCEUniversity-paid dental coverage is provided for Eligible Retirees (but not dependents) meeting thespecified age and service requirements for Retirement. Eligible Retirees will continue to be able to insuretheir eligible dependents by paying the premiums. Additional dental coverage through the State HealthPlan is also available at retiree expense for Eligible Retirees or their dependents eligible for the StateHealth Plan.SURVIVING SPOUSE:If the Eligible Retiree dies and he or she has a surviving spouse, such surviving spouse shall beeligible for continued coverage under the Health Plan as a “dependent” until the earlier of (i) theremarriage of surviving spouse, or (ii) the surviving spouse becomes eligible for other group healthinsurance coverage. Once such coverage of the surviving spouse ceases, it may not be again providedunder this Policy as a Benefit for such “surviving spouse”.THE UNIVERSITY OF OKLAHOMA 202

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIESA) Additional Benefits: Eligible Retirees, including Eligible Employees who otherwise meetthe age and service requirements of this Policy but who are not Members of the TRS, areentitled to receive and participate in the additional Benefits.PARKING1) Life Insurance Conversion: All life insurance ceases upon retirement. However,Eligible Retirees who apply within 31 days of retirement are entitled to convert to awhole life policy for coverage up to a percentage of the final life insurance amountby paying a premium which is based on the attained age.a) Eligible Retirees less than age 62 may purchase up to 50% of the coverage inforce at retirement to a maximum of $60,000. The minimum amount whichcan be purchased is $10,000.b) Eligible Retirees age 62 to 65 may purchase 25% of their pre-retirementamount with a maximum of $25,000 and a minimum of $5,000.c) Insurance may be continued to age 65 or whenever the Eligible Retireebecomes eligible for another group life policy, whichever is earlier.d) Application for life insurance after age 65 must be made within sixty daysafter attaining age 65. Premium is due from the effective date ofcontinuation. Insurance will be continuous from the first day of the monthfollowing date of retirement.Eligible Retirees are entitled to fee-free parking permits enabling them to park in campus lots.ID CARDSEligible Retirees are issued identification cards which allow them to access various retirementBenefits.ATHLETIC TICKETSEligible Retirees who maintain residence in the State of Oklahoma are entitled to continue purchasingtickets to athletic events at reduced rates.LIBRARYEligible Retirees can use University Libraries after retirement.COURSE ENROLLMENTEligible Retirees may participate in University academic courses subject to the fee waiver rulesapplicable to active Eligible Employees.UNIVERSITY CLUB/FACULTY HOUSEEligibility for membership to the University Club or Faculty House remains for Eligible Retirees.THE UNIVERSITY OF OKLAHOMA 203

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIESA) Additional Benefits: Eligible Retirees, including Eligible Employees who otherwise meetthe age and service requirements <strong>of</strong> this Policy but who are not Members <strong>of</strong> the TRS, areentitled to receive and participate in the additional Benefits.PARKING1) Life Insurance Conversion: All life insurance ceases upon retirement. However,Eligible Retirees who apply within 31 days <strong>of</strong> retirement are entitled to convert to awhole life policy for coverage up to a percentage <strong>of</strong> the final life insurance amountby paying a premium which is based on the attained age.a) Eligible Retirees less than age 62 may purchase up to 50% <strong>of</strong> the coverage inforce at retirement to a maximum <strong>of</strong> $60,000. The minimum amount whichcan be purchased is $10,000.b) Eligible Retirees age 62 to 65 may purchase 25% <strong>of</strong> their pre-retirementamount with a maximum <strong>of</strong> $25,000 and a minimum <strong>of</strong> $5,000.c) Insurance may be continued to age 65 or whenever the Eligible Retireebecomes eligible for another group life policy, whichever is earlier.d) Application for life insurance after age 65 must be made within sixty daysafter attaining age 65. Premium is due from the effective date <strong>of</strong>continuation. Insurance will be continuous from the first day <strong>of</strong> the monthfollowing date <strong>of</strong> retirement.Eligible Retirees are entitled to fee-free parking permits enabling them to park in campus lots.ID CARDSEligible Retirees are issued identification cards which allow them to access various retirementBenefits.ATHLETIC TICKETSEligible Retirees who maintain residence in the State <strong>of</strong> Oklahoma are entitled to continue purchasingtickets to athletic events at reduced rates.LIBRARYEligible Retirees can use University Libraries after retirement.COURSE ENROLLMENTEligible Retirees may participate in University academic courses subject to the fee waiver rulesapplicable to active Eligible Employees.UNIVERSITY CLUB/FACULTY HOUSEEligibility for membership to the University Club or Faculty House remains for Eligible Retirees.THE UNIVERSITY OF OKLAHOMA 203

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