For members who retired after January 1, 2014, some of you will notice that your life insurance deduction will increase in January 2019. Rates increase in “5 year bands” – ages 50-54, 55-59, 60-64, etc. In other words, the year AFTER you turn 55, 60, 65, 70, etc. your premium rates will increase and will not increase again for the next 5 years. For example, if you turned 65 on ANY DAY IN 2018 (except January 1), your rates will go up in January 2019.
And for ALL retirees who carry life insurance with the City, please remember to update your beneficiaries with us if you have any life changes that you need to share. The Pension Office and Life Insurance do not use the same Beneficiary Form, so please remember to update both. You can call our office to request the forms if you cannot print them off our website.
If you need clarification, feel free to call 414-286-3557 and ask for Life Insurance.