Retirement Benefits
RETIREE HEALTH INSURANCE
Cary provides retiree health insurance to an employee retiring from the Cary and retiring
from NCLGERS.
MEDICAL INSURANCE
Retirees of Cary who are under 65 can elect retiree medical insurance for themselves and
any spouse covered on the plan at the time of retirement. The retiree and/or spouse can
remain on the plan until age 65.
Retirees with a least 15 consecutive years of service with Cary and NCLGERS are eligible to
receive a subsidy from Cary to offset the cost of the retiree's medical insurance. A retiree with
15 years of service receives a 50% subsidy and each additional year of service beyond 15 years
increases the subsidy by 5%, with a maximum subsidy of 100% for 25 years of service. Pre-65
retirees who choose to cover a spouse pay for the full cost of spousal coverage.
Once 65, the retiree can no longer be on the retiree medical insurance plan. However, the
retiree can receive the subsidy as a supplement to pay for Medicare Part D and a Medicare
supplement. Additional support will be provided at that time. The subsidy can also be used
for the dental and/or vision coverage elected. When a spouse of a retiree turns 65, the
spouse is no longer eligible to receive medical insurance.
DENTAL INSURANCE
Retirees of Cary can elect dental insurance for themselves and any spouse covered on the plan
at the time of retirement. The retiree is responsible for paying the cost of coverage. The retiree
can use the monthly subsidy amount to pay for this coverage once the retiree turns 65. Dental
insurance coverage will continue as long as the cost of coverage is paid.
VISION INSURANCE
Vision insurance is included in the retiree medical insurance and is available to the retiree
and spouse, based on the retiree's election at retirement. Once a retiree turns 65, the retiree
can elect to continue vision insurance by paying the cost of coverage or using the subsidy to
pay for this coverage. When a spouse of a retiree turns 65, the spouse is no longer eligible
to receive vision insurance.
LIFE INSURANCE
Retirees are able to continue their life insurance according to the current group life insurance
policy. Retirees with 25 or more years of service working for Cary are provided with $10,000
of life insurance at no cost to the qualified retiree.
OTHER BENEFITS
COBRA is offered to a retiring employee in accordance with the COBRA regulation. Dependent
children covered at the time of retirement can elect to continue coverage under COBRA.
There are also portability options for any voluntary benefits elected.
Page 40 CARY Benefits Handbook
NEWSFLASH
After you reach 15
years of service with
Cary, you may be
eligible for a retiree
subsidy, which can
help cover the costs of
your monthly retiree
medical insurance
premiums/rate.
?
HELPFUL SITES
Benefit Videos
Employee Toolkit - Your
Steps to Retirement
NCLGERS
NCLGERS Benefit
Estimator
Retiree Benefits Policy
Retiree Handbook
General Employees
Retiree Handbook -
LEO Law Enforcement
Officers
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