Retiring from the University

Medical Coverage

• Retiree under age 65 or retirees carrying a spouse under age 65 are eligible to keep their A&M Care coverage.
• Retiree over age 65 or retirees who is also carrying a spouse over age 65 can choose the A&M Care 65 Plus Plan.
• Please read Coordination of Benefits between Medicare and Your A&M Health Plan for more information on how Medicare works with your A&M benefits.
• Medicare Website

Dental and Vision Coverage

• Coverage under these policies are available to retirees at the time of retirement.

Life Insurance

• Retiree under age 70 can keep $100,000 in coverage and $50,000 in coverage for spouse
• Retiree between 70 and 79 can keep $60,000 in coverage and $30,000 in coverage for spouse
• Retiree age 80 or older can keep $30,000 in coverage and $15,000 in coverage for spouse

Accidental Death and Dismemberment

• Retiree can choose up to $200,000 if younger than age 70 and up to $60,000 if age 70 or older.

Your prescription drug coverage will change to Express Scripts Medicare Prescription Drug Plan Part D. 

This new plan is very similar to your current plan, has no drug deductible. This coverage, as well as the coverage you have now, are considered creditable coverage, which means they are at least as good as the standard Medicare prescription drug coverage.

Your enrollment in Express Scripts Medicare will occur automatically. A subsequent letter will give you an opportunity to “opt out”. However, if you opt out of this plan, you cannot remain enrolled in the 65+ plan for health coverage through the A&M System.  In addition, enrollment in this plan may cancel any existing enrollment in another Medicare Part D drug plan.

You will receive a number of letters from Express Scripts Medicare^® PDP beginning later this month. One of these will be a Welcome Packet. It will include your new prescription ID Card. You and your spouse, if enrolled, will receive separate cards and will each be enrolled under your own names. Do not throw away your Blue Cross Blue Shield Medical Insurance Cards.

The following link are FAQ’s regarding Express Scripts Medicare Part D: http://assets.system.tamus.edu/files/benefits/pdf/programs/ExpressScriptsMedicarePartDFAQ.docx

Questions about Express Scripts Medicare Part D plan, contact Express Scripts Medicare Customer Service at 1.855.895.4647.  Customer Service is available 24 hours a day and 7 days a week.

TTY users should call 1.800.716.3231

Retiree Insurance Payments

System Benefits Administration provides billing services and collects insurance premium for Retirees who have chosen to continue insurance plans which have a retiree premium cost.

Retiree Premium Information for Fiscal Year 2021

Options:

1. TRS Annuity Draft Form:  If you are receiving a TRS annuity you can have your insurance premiums deducted prior to its deposit in your bank account. 
2. ACH Draft Form:  You can have the insurance premium deducted monthly through an ACH draft through your bank account.
3. Check:  You can pay monthly by check or money order.  Payments are due by the 5^th of each month.  If payments are late, your insurance coverage may get canceled. 

A period of at least 30 days will be needed to set up your deduction.  This means the first month’s insurance payment must be sent to the System Insurance Billing Office along with your draft election form.

Remaining vacation hours will be paid out, normally on the next bi-weekly payroll after a final paycheck.  Vacation lump sum payments may be deferred to a Texas$aver or TDA plan.

With supervisor approval, an employee can use available leave time and remain on the payroll through the end of the month.  Use of leave time beyond the end of the month requires approval by the division vice president and the Executive VP for Finance & Administration.  All leave requests must be submitted in Workday.

Vacation and Sick Leave are transferable to another state agency.

Sick leave hours cannot be paid out at the time of departure per state law.  

Sick leave balances can remain intact for 12 months.

Sick leave balances may be donated.

• Donate to a Specific Person (Tax Implications to Donator)
• Donate to the Sick Leave Pool

Eligible TRS members may purchase, at the time of retirement, one year of equivalent membership service credit (400 hours or more of accumulated state sick and /or personal leave).  Eligible members are those who have at least 10 years of TRS service credit with one or more TRS-Covered employers.

• TRS Information on purchase of membership

It is recommended to use any remaining balance prior to the last physical working day. State compensatory hours cannot be paid out.  FLSA hours will be paid out.