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Retiree Benefits

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WHAT'S NEW - Spring, 2023

Open Enrollment has ended. 

The FY24 Insurance premium rates, which will begin 7/1/2023, can be found here. 

Approaching Medicare Age? 

If you are on PWC health insurance, you will need to sign up for Medicare to begin on the first of your birth month, and find a supplement plan. You will receive the needed documents in the mail regarding the County's plans, about 2 months prior to your birth month. You should begin early to get your Medicare A, B, and D in place.  If you need assistance, scroll below to Rosemari Walker's information, the County's Medicare Coordinator in the Area Agency on Aging.  Also, please review the following Medicare documents, provided by Anthem.  Note that the County's retiree plans do not coordinate with Medicare so you'll need to find an outside supplement plan. 

  • View a recorded webinar on Medicare here. 
  • information for folks new to Medicare here
  • If you or your spouse are still working and are covered under and ACTIVE employer's plan (Not PWC retiree coverage), you may be able to delay signing up if you continue to work.  Read here for more information. 

Retiree address changes

Reminder that if you move and you are enrolled in PWC retiree insurance plans, you MUST contact the HR Benefits Team to change your address in PWC systems.   Our new payroll system, Mobius, sends enrollment information to Anthem, Kaiser, Delta and VSP via a file.  We will need to send your new address to them this way; they will not allow you to update it directly with them.  Additionally, please be sure to send your address to Bolton for your credit plan, and also to contact VRS (you may change it online or send in a form you can obtain from their website). 

 

Bolton Annual Insurance Premium Mailings

Bolton mailed the annual form to those retirees who do not have PWC retiree medical insurance, to verify that your premiums exceed the amount of credit you're eligible for, back in the summer.  Many did not return them, and they mailed out a second batch in November.  Those that were not returned were suspended in March.  If your credit is suspended, you must contact Bolton via their phone/email below to provide the needed insurance premium documentation and start the credit back up.  Note that there is a limit on how far retro credits will be paid, once your credit resumes.  Please note that credits are payable ONLY to the retiree, and they cease with the retiree passes away.

 

Taxes!

You are able to change your tax withholding at any time. Contact the vendors to make changes.

If you have any questions regarding the tax forms contact:

VRS: 888-827-3847

CBIZ: 844-581-2871

You may also navigate to VRS's website, www.varetire.org, to Forms, then download VRS-15 and mail it in to VRS.

The County's health insurance credit, paid by Bolton is a tax-free benefit.

 

CBIZ Manages the Public Safety Supplemental Pension Plan eff. July 1, 2020

Police and Fire retirees still in payment status are encouraged to log in to the new site.  You may change your address, tax withholdings and bank account information directly on their site! Please be sure to log in and view your information, and the great new resources available with CBIZ

844-581-2871 || [email protected]; https://myretirement.cbiz.com

 

BOLTON HAS A DEDICATED EMAIL AND PHONE NUMBER FOR PWC!

Bolton manages the County's Health Insurance Credit program, payable to retirees with at least 15 years of service with eligible health insurance premiums.  If eligible, you receive a monthly deposit from Bolton monthly. Contact Botlon at [email protected], or via phone, Monday to Friday, 8 am to 5 pm at 866-340-9789.  You may find information on the PWC Health insurance credit plan here. 

 

INTERESTED IN SEEING BENEFITS OF PWC PLANS?  CHECK THIS OUT!

SECURE ACT, JANUARY 1, 2020

In December 2019, the 'Setting Every Community Up for Retirement Enhancement' (SECURE) Act was passed into law, creating the most substantial updates to the laws governing retirement accounts since the Pension Protection Act in 2006. One notable change resulting from the SECURE Act will be the increase in age at which Required Minimum Distributions (RMDs) must begin. Prior to the SECURE Act, individuals with IRA accounts or qualified employer-sponsored retirement plans were required to take RMDs beginning in the year in which they turned 70 ½ with a deadline (for the first RMD only) of April 1 of the following year.

Beginning in 2020, however, the new age at which RMDs must start is age 72 (also with a deadline of April 1 of the following year). Notably, RMDs for individuals who turned 70 1/2 in 2019 are not delayed, and instead, such individuals must continue to take their RMDs under the same rules prior to passage of the SECURE Act. Despite the delay in the starting age for RMDs, though, Qualified Charitable Distributions (QCDs) from IRAs will not be affected by the SECURE Act; accordingly, QCDs may still be taken from IRAs as early as age 70 1/2.

HEALTH INSURANCE FOR RETIREES (MEDICAL, DENTAL, VISION)

If you leave employment with at least 15 full years of service with Prince William County, you are eligible to continue coverage through the County after your service ends. You are able to cover your dependents (spouse and/or children) as defined by the Plan provisions if enrolled in coverage at the time retire/separate. The cost of coverage to you is the full monthly premium, and is paid via deduction of your monthly VRS benefit, as applicable, or by direct debit from your bank account in special circumstances. If at any time you elect to cancel coverage or coverage ends due to non-payment of premium, you may not re-elect to participate in coverage with the County.

NOTE: Medical coverage ends at age 65 (Medicare rules dictate the end date of coverage: the first of the month in which you turn 65, or if your birthday falls on the first of a month, then the first of the PRIOR month); dental and vision coverage can continue for your lifetime. Coverage for children on any plan (medical, dental, or vision) can continue up to the Plan limiting age for children (end of the month in which they turn age 26), even if you turn age 65 prior that time. A couple months prior to you or your dependents reaching a limiting age, you will receive a letter and necessary forms in the mail notifying you of the end date of coverage and what actions you need to take. Please note that a few months prior to your 65th birthday, you should begin exploring your Medicare and supplemental plan options. Your covered spouse/children can continue on medical coverage up until age 65/26 if he/she reaches a limiting age after you. You are able to change plans during the annual open enrollment period only. You may not add family members to coverage at any time unless there is a qualifying event, such as marriage or birth of a child. Qualifying event changes must be made within 30 days of the event. Contact HR Benefits with questions about qualifying events or when coverage ends at [email protected]

LIFE INSURANCE IN RETIREMENT

Securian Financial: 800-441-2258

Basic Life Insurance -

If you retire upon separation from full-time service, you retain the County-paid Basic life insurance through VRS. This coverage is at no cost to you for your lifetime. The benefit is 2 times your annual base earnings at the time of retirement. The amount reduces 25% per year after your first full calendar year of retirement until it reaches 25% of the original coverage amount (resulting in a policy worth half your salary at the time of retirement, and this continues until your death). Upon leaving employment, coverage for accidental death and dismemberment coverage ceases at that time. Note that you will see on a tax line on your VRS 1099 form, for imputed income. Though the life insurance policy is County-paid, any portion of insurance worth over $50,000 results in a tax to you.

Optional Life Insurance –

If you are enrolled in Optional Life insurance when employment ends, and have had the coverage for at least 60 months (5 years), you can continue coverage at the County's group rates. To do so, you must elect to continue coverage within 30 days from your separation date. The maximum continued coverage under this policy is two times your salary. Accidental death and dismemberment coverage ends upon leaving employment. The death benefit amount begins to reduce with age and all coverage ends at age 80.

Beneficiary

Your beneficiary designation for basic and optional life insurance can be updated at any time you wish. You may update your beneficiaries directly in the MyVRS system, or contact Securian Financial at 800-441-2258.  If there is no valid beneficiary designation on file or your beneficiary is deceased at the time of your death, VRS will pay benefits according to the following order of precedence, as required by law:

  • First, to your spouse;
  • if no surviving spouse, to your child(ren);
  • if none of the above, to your parents;
  • if none of the above, to the duly appointed executor or administrator your estate;
  • if none of the above, to your next of kin as under the laws of the domicile.

For more information on the Basic or Optional Live coverage go to: https://www.varetire.org/retirees

4/4/2022

VRS Long Term Care Insurance

VRS, through Genworth Financial, offers Long Term Care insurance to employees, retirees, and their eligible family members. Benefits include group rates, ease of enrollment, and portability of the plan. Please see Genworth's website at www.Genworth.com/COV, or call toll free 866-859-6060 for more information or to apply for coverage. This plan will be open for enrollment on an on-going basis.

 
 

FORMS

VRS:

OTHER LINKS

CONTACT INFORMATION

  • CBIZ (Police/Fire Supplemental Pension Plan): 844-581-2871; [email protected]; https://myretirement.cbiz.com