Insurance Benefits in Retirement for Former Employees
|Retiree Benefits||Active Employee Benefits|
|Health + $2,500 Basic Term Life + Prescription Drug Coverage||Health + $5,000 Basic Term Life and Accidental Death & Dismemberment (AD&D) + Prescription Drug Coverage|
|Optional Term Life - Elections 1-2 or $10,000 Fixed Optional Life||Optional Term Life - Elections 1-4|
|Dependent Term Life - $2,500||Dependent Term Life - $5,000|
|Long-term Care (existing accounts only)|
|TexFlex - Health care and limited flexible spending account:
||TexFlex - Active employees, including retirees with active employee benefits, can contribute to and use funds in TexFlex health or limited, dependent care and/or commuter spending accounts.|
|Texa$aver - Retirees can keep their Texa$aver accounts and can roll over funds from other retirement accounts into their Texa$aver accounts.
||Texa$aver - Active employees automatically enrolled in the 401 (k) at 1%
|-||Short-term and long-term disability insurance|
|-||Premium conversion (tax savings)|
ERS benefits are subject to change without notice and depend on funding by the Texas Legislature, as well as member contributions.
Retiring before age 65? See Health insurance benefits if you're retiring before age 65.