Retirees hired prior to January 1, 2015
Upon retiring from the Authority, you are provided with Retiree life insurance in an amount equal to 50% of the employee life insurance you had in force on the day before you retired.
The coverage amount of Retiree life insurance is reduced by another 50% upon reaching your 70th birthday. If you retired from the Authority on or after your 70th birthday, then no further reductions due to age will occur.
Retirees hired on/after January 1, 2015
Upon retiring from the Authority, you are provided with Retiree life insurance in the flat amount of $10,000. The coverage is not subject to any age-reduction.
Life Insurance Beneficiary Selections
Note: Upon retirement, you should update your beneficiary selections. If you do not update your beneficiaries then the final selection you made as an active employee for Basic Life Insurance will apply.
