Additional Benefits for Retirees

Benefits extended to all retirees

All retirees are entitled to certain benefits:

• A BearPass card
• Use of the university's Health and Wellness Center and pharmacy
• Library privileges at Meyer Library
• Use of campus recreational facilities
• Employee discounts on purchases in the bookstore
• Admission to athletic events, cultural programs, convocations and lectures at free or reduced employee rates
• Free enrollment in one college course per semester (Fee Waiver Benefit)
• Transfer of the fee waiver benefit to eligible dependent children for up to 15 credit hours per academic year

Emeritus status

Emeritus faculty and staff are entitled to all benefits provided to university retirees and will receive invitations to special events, an email account and a president's parking pass. Emeriti are entitled to enroll in one course per semester and have their required student fees paid by the university. This educational fee waiver benefit may be assigned to eligible dependent children of the retiree.

Emeritus staff appointment

Emeritus status may be granted to retiring staff and administrative employees as a special recognition for exemplary work performance and outstanding, loyal and dedicated service to the university.

To be eligible for the title, staff members must also satisfy the following requirements:

• Completion of at least ten years of service in a full-time regular position.

Retiree insurance options

Medical insurance

• Faculty and staff not yet eligible for Medicare upon retirement can maintain Missouri State University medical insurance until age 65 by paying the unsubsidized premiums
• University retirees who are eligible for Medicare, cannot keep their Missouri State University medical insurance, other than through COBRA continuation.
• Upon reaching age 65, retirees will normally have Medicare as their primary medical insurance, and will not be allowed to continue retiree coverage.
• Retirees can continue covering spouses and eligible dependents under university medical insurance if the spouse is not Medicare-eligible and dependents meet eligibility criteria.
• Retirees must maintain the same type of coverage they had as employees; changes to coverage type (e.g., from single to family) after retirement are generally not allowed.

Dental insurance

• Upon retirement, faculty and staff member may elect to keep their Missouri State University dental insurance under the federal COBRA law (Consolidated Omnibus Budget Reconciliation Act of 1985), for a maximum of 18 months.
• Faculty and staff member who are providing Missouri State University dental insurance coverage for their spouse and/or family members at the time they retire may continue to do so in accordance with the COBRA.
• The dental insurance premium rates for COBRA dental insurance are based upon the amount which the university contributes for active employee insurance and include a 2% administrative fee allowed under COBRA.

Vision insurance

• Upon retirement, faculty and staff member may elect to keep their Missouri State University Vision insurance under the federal COBRA law (Consolidated Omnibus Budget Reconciliation Act of 1985), for a maximum of 18 months.
• Faculty and staff member who are providing Missouri State University Vision insurance coverage for their spouse and/or family members at the time they retire may continue to do so in accordance with the COBRA.
• The Vision insurance premium rates for COBRA dental insurance are based upon the amount which the university contributes for active employee insurance and include a 2% administrative fee allowed under COBRA.

Life insurance

• Upon termination of coverage, faculty and staff members may elect to keep all or a portion of their own and/or dependents life insurance coverage, without answering health questions, provided applications are submitted to the carrier within 31 days following termination and the required premiums are paid to the carrier. 
• Person's leaving the University who are age 69 or younger will have the option to port their term life coverage or convert their coverage to ordinary (whole) life insurance.
• Persons age 70 or older may convert their current coverage to an ordinary (whole) life policy.
• Term life insurance premium rates are based upon the person's age and are set for each 5-year age bracket, e.g. 50-54, 55-59,, 60-64, 65-69, etc. When a former employee or dependent reaches the next 5-year age bracket, his/her life insurance premium rate increases to the amount for the age bracket.  The maximum period of coverage is age 75.
• Ordinary (whole) life insurance rates are locked in for the life of the policy.  Whole life insurance may be maintained up to age 100.  Whole life insurance builds cash value that may be borrowed against or used to pay future premiums.

Allstate Universal life insurance

• You may choose to continue to pay the premiums directly to the company after retirement.

Long-term care insurance

• Employees who previously selected long-term care insurance through previous carriers can still continue their coverage

Critical illness insurance

• You may continue this benefit by paying the company directly.

Accident insurance

• You may continue this benefit by paying the company directly.

Participation in the Cafeteria plan

Employees in the cafeteria plan who retire during the year can pay insurance premiums and medical expenses on a tax-advantaged basis.

• Insurance Premiums: Retired employees can continue paying medical and dental insurance premiums through the cafeteria plan for the rest of the year provided the premiums are prepaid for the months after retirement.
• Flexible Spending Account (FSA): Employees enrolled in the FSA for reimbursement of non-covered medical and dental expenses can continue using it, past the separation date, during the current calendar year, provided all funds have been contributed pre-retirement.

Working after retirement

MOSERS retirees can work part-time at the university without losing retirement benefits if they work less than 1,000 hours in a 12-month period. If they work 1,000 hours or more, the university must inform MOSERS, which will stop retirement payments. There are no specific rules for scheduling these hours.

In rare cases, a retiree returns to full-time work. The university will notify MOSERS, and the retiree will receive the same insurance benefits as before retirement. When the retiree stops working full-time, the university will notify MOSERS to restart the retirement payments.