The following summarizes the eligibility and enrollment requirements for retirees returning to employment on a part-time basis with scheduled weekly hours of less than 20 hours per week. Rehires who did not meet the Rule of 65 prior to their termination of employment should refer to the Rehire employment event.
Health and Insurance Plans
Under Age 65
A retiree who subsequently returns to the university with scheduled weekly hours of less than 20 on their job record before they reach age 65, will be eligible to elect coverage under the active medical, dental and vision plans at the part-time rates. If enrolled in COBRA coverage at the time of rehire, the rehired retiree will need to call HealthEquity/WageWorks to cancel their COBRA coverage. Any retiree medical, dental and vision coverage will end upon rehire. Retiree life insurance, if any, will continue upon rehire.
Age 65 or Older
A retiree who subsequently returns to the university with scheduled weekly hours of less than 20 on their job record after they reach age 65, will have their retiree benefits continue and will not be eligible to enroll in the active medical, dental and vision plans.
Retirement Medical Savings Account
If the rehired retiree has a Retirement Medical Savings Account, they will not be able to access their account for qualified medical expenses until they terminate employment again.
Retirement Savings Plan
Employee Contribution
A retiree who is rehired as a part-time employee with scheduled weekly hours of less than 20 on their job record, may elect to contribute to the plan at any time after rehire. The rehired retiree will not be automatically enrolled.
University Contribution*
A retiree who returns to active employment on or after July 1, 2023, will become eligible for the university contribution upon the rehire date*.
If the termination date was on or after July 1, 2023, and the rehire occurs on or before the one-year anniversary of their termination date, the employee will retain the same level of university contribution they had before their termination of employment. If the rehire occurs after the one-year anniversary of their termination date, the employee will have their university contribution set to 7%.
If the termination date was prior to July 1, 2023, but the rehire date is on or after July 1, 2023, the university contribution will be set to 7%.
Years of vesting service accrued prior to termination are retained and combined with years of vesting service accrued after rehire.
*Applies only if the university is currently contributing to employee accounts and the employee is contributing at least 5% of their eligible pay.
Vacation/Sick Time/Service Awards
A retiree who is rehired with scheduled weekly hours of less than 20 on their job record is not eligible for vacation, sick time or Service Awards.