Faculty Retirement Information
Availability of Group Health Coverage: According to the Faculty Contract, faculty members may upon retirement continue to participate in group medical, dental and vision insurance plans by paying the appropriate premiums, subject to conditions established by the carrier (M 13.2, p. 89). Individuals who retire must meet either of the following criteria to be eligible:
- At least fifty-five (55) years of age and at least ten (10) years service with SVSU
- At least sixty-two (62) years of age and at least five (5) years of service with SVSU will, at the expense of such individual, be able to continue health insurance at the group rates available through the University, in accordance with the terms and conditions imposed by the insurance company involved in providing such coverage, so long as this coverage is available through such insurance company at no substantial additional cost to the University (M 4.5.4 p. 82).
The retirement process at the University would entail contacting the following:
- Supplemental Retirement Accounts
- Retirement Plan - To speak with an individual consultant about your TIAA-CREF retirement plan or tax-deferred annuity, please call 1.800.842.2776.
- Social Security Benefits – Call Social Security Administration at 1.800.772.1213. Local numbers: Saginaw office – 989.758.4030; Bay City office - 989.892.1578.
- Medicare – For questions about your eligibility or to apply, call the Social Security Administration at one of the above listed numbers.
- Supplemental Insurance – For questions regarding eligibility or coverage available:
- MESSA - Kirk Bascom at 800.282.4910
- HealthPlus of Michigan – Bridget Hollingsworth at 989.797.4041