Staff Union Exempt
Benefit coverage while working beyond your Normal Retirement Date
This information is for those SAGE members holding a full-time appointment at Western who work beyond their Normal Retirement Date. The following benefits coverage, insurance and pension contribution accruals are provided as outlined in the Collective Agreement between your employment group and Western University.
- Basic Life Insurance is 100% paid by the employer and reduces to $25,000 of coverage.
- Optional Life, Dependent Life and Voluntary Personal Accident Insurance benefits end at your Normal Retirement Date. You may convert your coverage to a private policy fully paid by you (coverage to a maximum $200,000) within 31 days from your normal retirement date. Your coverage will continue during that time.
- Long Term Disability coverage, premiums and benefit payments end on your Normal Retirement Date.
- Extended Health & Dental benefits continue until your retirement date. Employees who have reached Normal Retirement Date will use the Ontario Drug Benefit (ODB) as first payer, if eligible. Any drugs not covered by ODB that are covered by the University plan may be submitted for reimbursement.
- Health Care Spending Account benefit continues until your retirement date.
- Professional Expense Reimbursement benefit continues until your retirement date.
- Dependent Tuition Scholarship Plan continues until your retirement date.
- Pension contributions to the Administrative Staff Pension plan (yours and the University’s contribution) continue as long as you remain actively employed and until the earlier of your retirement date or the end of the year in which you attain age 69. Pension assets may be withdrawn at this point (in accordance with legislation) or may remain invested in the plan, as you direct. In accordance with the Income Tax Act (Canada) regulations, a retirement income must be established with the invested pension funds by the end of the year in which you attain age 71.
- All other benefits and allowances continue in accordance with your employment contract until you reach your retirement date, at which point you may become eligible for Post Retirement Benefits.
- If you continue in active employment past your Normal Retirement Date, but your workload is reduced to less than 60% of your normal work week, you will be enrolled in the Post Retirement Benefit for retirees as of the effective date of your reduced work load.
Should you have any questions, please contact Human Resources at 519-661-2194 or email@example.com.