If you are a member of the Samford University Health and Dental Plans at the time of your retirement and are under 65 years of age you may continue your coverage as a retiree. You will pay the current premium for retired employees which will be due upon the first of each month. You can continue coverage under the plan until you reach the age of 65.
Your spouse and dependent children may also continue coverage under the plan provided your spouse and/or dependent children were covered under your plan at the time of you retirement. Your spouse can continue coverage until he/she turns 65. Your dependent child(ren) under the age of 19 or under the age of 26 (if a full time student) who was covered under the plan at the time of your retirement may also continue coverage under the plan until he/she no longer meets the requirements of a dependent.
As a full time employee of Samford University you are eligible to receive a Group Term Life benefit in the amount of two and one-half times your salary. This benefit is paid by the University. This amount reduces 35% if you are still actively employed at age 65. As a retiree of Samford University, you will be eligible to continue to receive a portion of this Group Term Life benefit. This benefit will continue to be paid for by the University. The amount of the benefit will depend upon your age and salary at the time of your retirement. The benefit will be determined as follows:
Retirees with 15 or more years of service, who were eligible for ETB prior to retirement are permitted to audit or take for credit undergraduate and graduate courses as long as there are sufficient non-employee students in the class. This benefit applies to full time and part time undergraduate and graduate studies through the attainment of one bachelor's degree and one master's degree utilizing the University's Employee Tuition Benefit. It does not apply to room, meals, books, special course fees, or any other charges other than tuition as established by the Board of Trustees.
The ETB is also available to your spouse and dependent children upon your retirement if you were eligible for the benefit prior to retirement and if you retire with 15 or more years of service. The benefit applies to full-time and part-time undergraduate studies through the attainment of one bachelor's degree. It does not apply to room, meals, books, special course fees, or any other charges other than tuition as established by the Board of Trustees.
If you participated in the tax deferred annuities, you will need to contact your TDA provider for instructions on your payment options. The contact numbers for the providers are as follows:
As a retiree you will be eligible for the following benefits: