Staff Union Exempt
Eligible SAGE members hired on or after January 1, 2009 must accrue 10 years service to be eligible for post-retirement benefits. Eligible SAGE members hired prior to January 1, 2009 must accrue five years service to be eligible for post-retirement benefits.
Your benefits at retirement
- Extended Health and Dental plans continue for you, your spouse and eligible dependent children after retirement. These plans are subject to an 85/15 co-insurance arrangement. This means you are required to pay 15% of claims for eligible expenses. The maximum you are required to pay in a calendar year is $450 for single coverage and $900 for family coverage. Once the maximum is reached in any given calendar year, you will no longer be required to pay the 15% for the remainder of that calendar year. (see notes section below for further details.)
- Out of country emergency medical and travel assistance coverage continues and is limited to $200,000 per person per 180 day trip duration.
- A Retirement Death Benefit equal to the lesser of: 50% of your Basic Life Insurance in place just prior to your retirement, or $15,000 is provided. The first $10,000 of coverage is paid by the University as a tax-exempt Death Benefit and the balance is a taxable benefit. A T4A will be issued by the University each year informing you of the actual taxable benefit amount to be reported on your tax return. A Retirement Death Benefit certificate will be issued and sent to your home address. Keep this document with your personal records. Should you wish to make a change to your designated beneficiary(ies) at any time in the future, please contact Human Resources Services at 519-661-2194 or firstname.lastname@example.org.
- Retirement Gift: At retirement, the University provides you with reimbursement towards a long-lasting retirement gift of your choice. If you have been at Western for ten or more years of continuous employment the value is $250. If you have been at Western for five or more years of continuous employment but less than ten years, the value is $75. Approximately two months prior to your retirement, you will receive a letter outlining the provisions of this benefit. If you have not received notification, please contact Human Resources.
- The co-insurance arrangement does not apply to reimbursement for the prescription dispensing fee (capped at $6.11) or to any internal maximums already defined within the plans. Deductibles and dispensing fees applicable to the Ontario Drug Benefit (ODB) for individuals age 65 and over are not covered by the University benefits. Should a drug not be covered by the ODB, or you are not eligible for the ODB as you are not age 65, it may be covered by your Extended Health plan. Simply present your benefits identification card to your pharmacist. If the claim is eligible, reimbursement will be paid directly to the pharmacy.
- If your dentist is recommending dental treatment expected to cost more than $500, please have your dentist submit a pre-treatment plan.
- Please note: Any government health benefits which are reduced or eliminated are not covered by the University post-retirement benefits. For example, deductibles and dispensing fees applicable to the ODB for individuals age 65 and over.
Benefits that end when you retire
- Salary Continuance & Long Term Disability benefits terminate on your date of retirement or your normal retirement date, whichever is earlier.
- Health Care Spending Account (if applicable) benefit terminates the end of the month following your date of retirement. You have 90 days after your coverage terminates to submit any outstanding eligible medical and dental expenses to the benefit carrier for payment. Claims should be sent directly to: Manulife Financial Group Benefits, Group Health Claims, PO Box 1653, Waterloo, ON N2J 4W1.
- Life insurance benefits terminate the end of the month following your date of retirement or your normal retirement date, whichever is earlier. You may convert your life insurance coverage to a private policy. Read more at Converting/continuing your benefits after leaving Western.
- Health & Dental plans terminate the end of the month if you are not eligible for Post Retirement Benefits. You may be able to enroll directly into a comparable plan that you pay for yourself, without submitting a medical questionnaire. Read more at Converting/continuing your benefits after leaving Western.