BENEFITS RETIREMENT Presented by Judy Kurtz Employee Benefits

BENEFITS & RETIREMENT Presented by Judy Kurtz, Employee Benefits Manager

OVERVIEW Ø Mandated Retirement Programs Ø Voluntary Retirement Programs Ø Wellness Credit Ø Employee Assistance Program Ø Insurance Benefits Ø Additional Benefit Resources Ø Retirement Eligibility

MANDATED RETIREMENT PROGRAMS Teacher Retirement System § Automatically enrolled on date of hire/eligibility § Employee contribution rate 7. 7%; set to increase to 8% (2021) and 8. 25% (2023) § Defined Benefit Plan Optional Retirement Program § Requires Enrollment to elect ORP in Lieu of TRS § Employee contribution rate remains at 6. 65% § Defined Contribution Plan

VOLUNTARY RETIREMENT PROGRAMS https: //agrilifeas. tamu. edu/hr/benefits-retirement/ Resources _____ TRS and ORP Voluntary Savings TRS Videos Fidelity On-Demand Videos

TAX-DEFERRED ACCOUNT & TEXA$AVER Pre-Tax and Roth Post-Tax Options Tax-Deferred Account (TDA) 403(b) § All employees who report personal income for federal tax purposes – anyone on payroll § Employee money only § TDA Fee Summary http: //assets. system. tamus. edu/files/benefits/pdf/retirement/Fee. Summary. PDF Deferred Compensation Plan (DCP) 457 (b) aka Texa$aver § All employees who report personal income for federal tax purposes – anyone on payroll § Employee money only

WELLNESS CREDIT Two-Step Wellness Program RECEIVE THE LOWEST RATE ON YOUR HEALTH INSURANCE PREMIUM Completing any two steps on your My. Evive Personalized checklist* will ensure that you have the lowest rate for your health insurance premiums. *The alternate health assessment available on Well on. Target through Blue Access for Members (BAM) can also count toward your wellness credit. Deadline of June 30 to receive the credit for the upcoming plan year effective September 1.

EMPLOYEE ASSISTANCE PROGRAM Work/Life Solutions by Guidance. Resources The Texas A&M University System is proud to offer Work/Life Solutions to eligible employees. These programs usually offer in-person and telephonic counseling services, training, and have resources to help employees deal with all kinds of stressful issues from parenting to death of a loved one to conflicts at work. Contact Guidance. Resources with the information below. Website: http: //www. guidanceresources. com WEBID: TAMUS 1 -866 -301 -9623

INSURANCE BENEFITS Core Coverages Optional Coverages Additional Benefit Resources

INSURANCE BENEFITS https: //agrilifeas. tamu. edu/hr/benefits-retirement/ Medical Prescription Drugs Dental (PPO & HMO) Vision Life and Accidental Death & Dismemberment Long-Term Disability Flexible Spending Accounts (Health and Dependent Day Care) Additional Benefits Resources

A&M SYSTEM RETIREMENT https: //agrilifeas. tamu. edu/hr/benefits-retirement/ Retirement Guide Pre-retirement Group Counseling Sessions TRS Videos Lump Sum Vacation Retiree Benefits Payment Vendor for Retiree Benefits, P&A Group Who Do I Contact? Frequently Asked Questions

RETIREMENT CRITERIA Under current state law, you are eligible for the employer contribution as a retiree when: • You are at least age 65 and have at least 10 years of TRS or ORP service credit, or your age plus years of service credit equal at least 80 and you have 10 years of service credit, and, • 10 of those years of service are with the A&M System, or you have a combined total of 10 or more years of service with the A&M System, UT System and ERS and the A&M System has the most years of service, or the A&M System has the same amount of service as the other highest system and A&M is your last employer, and • you have an intact TRS or ORP account.

RETIREMENT BENEFITS/PROCESS Eligibility for insurance benefits and the employer contribution TRS monthly annuity for life upon meeting TRS retirement criteria – reduction for early age retirement • TRS retirement packet – takes up to 60 days to arrive Distribution from ORP account – participants are responsible for contacting vendor to establish a distribution plan • All forms available online

QUESTIONS/COMMENTS How to save with limited funds? Transfer of ORP funds to another vendor? Retirement savings? Enough? Other options?

WHO TO CONTACT? Texas A&M Agri. Life Research & Extension Texas A&M Veterinary Diagnostic Lab Judy Kurtz (979) 845 -7207 Judy. kurtz@ag. tamu. edu Human Resources Fourth Floor Suite – AGSV 578 John Kimbrough Blvd 2147 TAMU College Station, TX 77843 Phone (979) 845 -2423 Fax (979) 458 -1046 Email: agrilifebenefits@ag. tamu. edu