Retiree Insurance
A person retiring from FVCC may continue certain group insurance benefits as described in the benefit plan. To be eligible as a Retiree, the individual must be eligible to receive a State Retirement from the Teachers Retirement System or the Public Employee Retirement System at the time he or she leaves employment with FVCC. Retirees in any other defined contribution plan must have worked five or more years and be age 50 or have worked 25 years with the University System to be eligible for Retiree insurance benefits.
An eligible retiree must make arrangements with his or her Human Resources Office to continue coverage as a Retiree on a self-pay basis within 63 days of retirement. There is no Employer contribution toward Retiree benefits. The right to continue coverage is a one-time opportunity. Retirees who fail to continue coverage within 63 days or who allow coverage to lapse due to nonpayment of premium may not later rejoin the plan—with one exception:
Exception: A Retiree with the right to continue coverage under the MUS Plan, who chooses to continue coverage under spousal coverage in either the MUS Plan or the State of Montana Employee Benefit Plan, may be reinstated to the MUS Plan with Retiree coverage upon the retirement, death, divorce, or any other event which causes ineligibility for spousal coverage. This exception applies only to a Retiree who has maintained continuous coverage under either the MUS Plan or the State of Montana Employee Benefit Health Plan.
Premium Payment: Retirees must arrange a schedule of timely premium payments with the Human Resources Office. Payments may be made via check or credit card. Access the Retiree Workbook for complete coverage information.