Policy

General Benefits - College employees are eligible for official retirement status when they are at least 55 years old and have been employed on a full-time basis for a minimum of 10 years.  Designation allows employees to keep their SNC email, be on the retiree email list serv, free or reduced admission price to most sporting events, and have access to the Mulva Fitness Center.

Retiree Health Benefits
You are eligible to continue your health insurance coverage through St. Norbert after your retirement if you meet the below requirements:

Retired Employee Premium Sharing (Retired 1/1/18 or later):

• Age 55 to 59 where age combined with years of service totals 80 or more               100%                  
• Age 60 to 65 with less than 20 years of service, but combination of age                   50%
• and years of service still needs to equal at least 80 or more
• Age 60 to 65 with at least 20 years of service but less than 25                                45%
• Age 60 to 65 with at least 25 years of service but less than 30                                40%
• Age 60 to 65 with at least 30 years or more of service                                            35%
• Age 65 and older with at least 15 years or more of service                                      no coverage available
• Coverage will terminate at the age 65.

Spouses of Retired Employees (Retired 1/1/18 or later) may continue coverage under this Plan untilMedicare eligible (age 65), or up to 12 months, whichever occurs first after the loss of coverage of thecovered retiree who reaches the age of 65. Spouse of Retiree will be responsible for 100% of the contribution each month to remain on the Plan.

Effective 6/1/2024

Retirees currently under 65 in the retiree health group can stay on the plan until the end of the month in which they reach age 65.  Any spouse or dependents would also lose coverage regardless of their age.  

No new retirees can be added to the plan with retirement dates greater than 5/31/2024.  

Retirees on the plan currently over 65 will lose coverage 5/31/2024. This includes the retiree’s spouse or dependents.

Emergency Leave - Employees who retire at age 62 or later and have an existing emergency leave balance will receive payment for one-half of the balance. (Emergency leave was a policy that predated our current personal paid time off [PTO] program and was discontinued in 1997.)

Procedures

To facilitate receiving your retirement benefits, notify Human Resources of your retirement plans.