In this Issue
- Retiree Benefits
Task Team
Recommendation
- EyeMed ECPA
Replacement
Contact Lens
- FRS Workshops in
February
http://intraweb.co.pinellas.fl.us
Unified Personnel System
via the intraweb
Employee Benefits
(727) 464-4570
(727) 464-5291 Fax
Email Address:
employee.benefits@co.pinellas.fl.us
Appointing Authorities Support Ø Ø Ø EyeMed
ECPA Replacement Contact Lens by Mail Ernst
& Young financial planners will return to Pinellas County in mid-February
to present retirement planning workshops for employees on behalf of the
Florida Retirement System.
Task Team Recommendations
The recommendation
of the Retiree Benefits Task Team to change the health care funding strategy
for retirees under the age of 65 was approved by the Appointing Authorities.
Additionally they desired to expand the group of employees who would remain
under the current program to include employees who have worked for 10
years or longer for Pinellas County and are within 5 years of normal FRS
retirement on the date the new program takes effect. It is expected the
new program will be implemented on October 1, 2004. Below is a recap of
the approved recommendations.
Employees enrolled in DROP and employees with greater than 10 years of service who are within 5 years of normal FRS retirement prior to the implementation date, and all current non-Medicare eligible retirees.
Employees employed by Pinellas County for at least 10 years, the last five of which are consecutive. An exception would be granted for employees with less than 10 years of County service who are within 5 years of normal FRS retirement by the effective date of the new program. (Such employees would receive the minimum allowable subsidy benefit).
For eligible employees who retire on or after the effective date of this program a health insurance premium subsidy, based on length of service with Pinellas County, will be provided. The subsidy will range from a minimum 25% of the premium for 10 years of service increasing by 3.33% per year of service to a maximum of 75% for 25 years or more. The subsidy amount will be calculated on the single premium of the lowest cost plan and will be determined using the employee’s permanent hire date. The subsidy will be extended to surviving non-Medicare eligible spouses. Part time employees will receive a prorated benefit.
Additionally, the adoption of a Retiree Health Savings Plan (trust account)
for employees is under serious consideration. Both programs will be subject
to regular review and possible adjustments based on annual budget constraints
and changes in the healthcare marketplace. The County Administrator will
forward the recommendations to the Board of County Commissioners.
A new replacement contact
lens option is available to all EyeMed ECPA members. Replacement contact
lenses may be purchased at discounted prices over the Internet and mailed
directly to your home.
FRS
Retirement Planning Workshops to be held in February.
Register today!!
Register yourself and a guest by calling the Employee & Organizational
Support Division of the Personnel Department at 464-3796.
New
to the FRS?
AFTERNOON
Plan to attend the "New Employee Retirement Plan Choice Workshop"
to learn about your FRS plan choice. Only open to employees who were
hired after January 1, 2003. Discuss attendance with your supervisor
prior to registration.
February
16, Monday
February 19, Thursday
Location:3:00-4:30
pm
3:00-4:30 pm
Annex Bldg, 400 S. Ft. Harrison, Clearwater, 4th Floor Training Room,
#429
Never
given your future retirement a thought?
LUNCH
'N LEARN
You need to. "Using the FRS to Plan for Your Retirement"
is a quick, mid-day workshop to give employees an overview of the
FRS and educate you on the retirement planning process. Bring your
lunch and get going on a plan. It's time! And it only takes 45 minutes
of your time.
Feb
17, Tuesday
Feb 18, Wednesday
Location:12
noon or 1:00 p.m.
12 noon or 1:00 p.m.
Annex Bldg, 400 S. Ft. Harrison, Clearwater, 4th Floor Training Room,
#429
In
depth workshops at your convenience.
EVENING
"Retirement Planning for All Ages" is dedicated
to helping employees understand the nuts and bolts of planning for
retirement. It will focus on how everyday living expenses and inflation
dramatically reduce fixed retirement income and you will see the role
the FRS plans play in meeting your financial goals and the income
gap that must be made up through saving and investing.
Feb
16, Monday
Feb 17, Tuesday
Location:6:00
- 7:30 p.m.
6:00 - 7:30 p.m.
Belleair Training Center, Ste G-5, Belleair Place Shopping Center
1704 Clearwater-Largo Road, West side of center
"Investment Planning: the Basics" focuses on sound
basic investment principles and covers different type of assets and
how to allocate funds based on tolerance for risk. The role of the
MyFRS Financial Guidance Line and Advisor Service will be discussed.
Feb 18, Wednesday
Feb 19, Thursday
Location:6:00
- 7:30 p.m.
6:00 - 7:30 p.m.
Belleair Training Center, Ste G-5, Belleair Place Shopping Center
1704 Clearwater-Largo Road, West side of center