Already Retired

TIAA-CREF Retirement Income Plans

Vermont State Colleges offers a retirement plan through TIAA-CREF, which provides employees with a lifetime income after retirement. Some VSCS retirees have remained in the Vermont State Employees Retirement System, which VSCS used prior to 1978.

The amount of income an employee receives after retirement is determined by several factors, including: the amount of money accumulated in the plan; the age of the employee upon retirement; and the method of payment selected at the time of retirement.

A retiree must contact TIAA-CREF directly for information relating to their policy and investments. Information is available online at www.tiaa-cref.org or by calling 1-800-842-2252.

Please note: If a retiree chooses to work part time for the VSCS, this might affect the ability to make withdrawals from their TIAA retirement account.

Vermont State Employees Retirement System information can be obtained from the State of Vermont, Retirement and Social Security Division at (802) 828-2305.

Please make sure to update your beneficiary(s) through TIAA-CREF directly as neither the college nor system office is able to update this for you.

Medical: Over Age 65

You are now retired and have successfully signed up through Social Security for Medicare parts A and B. You may be collecting Social Security and therefore your monthly premium for Part B is most likely deducted from your monthly income through Social Security.

You are on a Cigna Medicare Advantage (MAPD-PPO) plan. This means you can go to any provider who accepts Medicare and CIGNA. You will pay the same cost-share to see an in-network or out-of-network provider and no referrals are required. Your provider will send Cigna the claim and you will receive an explanation of benefits (EOB) directly from Cigna. This plan combines Medicare Parts A and Part B and includes supplemental benefits that are being offered to you as a VSC retiree.

You will have a $250 annual deductible on the Cigna True Choice Medicare PPO (MAPD-PPO) Plan. The $250 annual deductible is per individual, and it applies to in and out-of-network Medicare-covered benefits. Once the $250 annual deductible has been met for covered Part A and Part B services, you will not have any out-of-pocket costs for the rest of the year. However, you must continue to pay the Medicare Part B premium. Reaching the $250 annual deductible could take a few trips to the doctor, or one large bill at a facility or provider.

The copays pay for prescription drugs. Services from providers that do not accept Medicare do not count toward your in-network maximum out-of-pocket amount.  In addition, amounts you pay for some services do not count toward your maximum out-of-pocket amount.

To meet your deductible, you will most likely see larger amounts owed in the beginning of the calendar year. The deductible runs on a calendar year. Please remember to show your Cigna True Choice Medicare (PPO) card when visiting a provider or picking up a prescription.

If you have not done so yet, you may want to consider creating an account at www.mycigna.com where you can track your explanations of benefits (EOBs), find doctors or providers, track expenses, and more.

2023 VSC Non Faculty PPO Benefits Summary

2023 VSC Faculty PPO Benefits Summary

Prescription Coverage

Your prescription coverage is equal to or better than the standard Medicare Part D coverage.

Your medical and prescription drug coverage will be integrated in one plan – this means you will have one ID card and one customer service phone number for your medical and prescription drug coverage.

CIGNA True Choice Medicare (MAPD – PPO) members can refill prescriptions (RX) at www.teldrug.com or contact CIGNA at 1-888-281-7867 (TTY 771).

Express Scripts Pharmacy specializes in home delivery and is available to all Cigna Medicare customers. To get started, have your Cigna ID card and medication list ready and call Express Scripts Pharmacy at 1-877-860-0982 (TTY 711). Or go online and set up your profile at myCigna.com.

CIGNA 2023 Drug List – Faculty

CIGNA 2023 Drug List – Non Faculty

Premiums for Medical and Dental

You may need to contribute towards the cost of your medical and dental benefits by paying premiums for your coverage. The amount of your premium is calculated using the percentage based on salary at the time of separation from employment.

You can choose to pay for 1, 2, 6, or even 12 months of coverage at a time. Your premium payments are tracked by the Chancellor’s Office, and you can expect a notification of any increase in May. The premium year runs from July 1 to June 30. We do not have an automated system at this time so you will need to send in a check for your premiums. Refer to the policy on the collection of premiums for more information.

Contact VSCBenefits at VSCBenefits@vsc.edu or (802) 224-3060 for more information or with questions.

Dental: Non-Bargaining Unit, PAT, SUP, Faculty

You have a $750 maximum benefit amount per person.  You have a $50 individual deductible, $100 couple, or $150 for a family of three or more. Preventative services are covered at 100%, major and basic restorative services are covered at 50%.

Dentures are covered under major and restorative and are covered at 50% up to the $750 maximum allowance.

FY2022 Dental Traditional Plan Summary

Life Insurance

As of September 1, 2015 your life insurance is held with The Standard and remains at $10,000. However, if you do not have a beneficiary on file at the colleges, we strongly urge you to complete a new beneficiary form. If you don’t recall whether you have the most up to date beneficiary on file, please fill out a new beneficiary form and mail back to us at the address at the bottom of the page.

While this site is intended to help you prepare for all situations, we also strongly recommend you inform your family (executor, trust or family, friend) to contact the system office or the college you retired from upon your death. There will be some paperwork that will need to be filled and sent to the insurance company.

Tuition

Retirees qualify for certain tuition benefits. You can learn more by reading the Tuition FAQs.

As of October 1, 2012, any new employees hired will not be eligible for any post-retirement medical and/or dental benefits for themselves, spouse or dependents.

Contact VSCBenefits at VSCBenefits@vsc.edu or (802) 224-3060 for more information or with questions.