1. Retirement Benefits

2. Insurance Planning & Premiums

3. Planning Considerations before 01/01/2018 Once you retire, you may continue the benefits you were enrolled immediately prior to your retirement date, except Long Term Disability If you drop your medical, dental, or life insurance coverage you may not re-enroll Review and if needed, adjust insurance coverage levels during the Annual Enrollment period prior to your retirement E XAMPLE If, as of the date of your retirement, you had self-only medical coverage… … as a retiree, you would be unable to add a spouse or dependents to your coverage.

4. Retiree Insurance Changes Effective 01/01/2018 Research: Key Findings ~30% - UM retirees currently declining UM coverage Age 64 & 24 Years of Service – Average for UM faculty retirement Age 62 & 23 years of service – Average for UM staff retirement 18% of current retirees are pre-Medicare; remaining 82% are Medicare-eligible

5. ≤4567891011121314151617181920 2122232425* ≤ 25 DCCCCCCCCCCCCCCCCCCCCC 26 DCCCCCCCCCCCCCCCCCCCCC 27 DCCCCCCCCCCCCCCCCCCCCC 28 DCCCCCCCCCCCCCCCCCCCCC 29 DCCCCCCCCCCCCCCCCCCCCC 30 DCCCCCCCCCCCCCCCCCCCCC 31 DCCCCCCCCCCCCCCCCCCCCC 32 DCCCCCCCCCCCCCCCCCCCCC 33 DCCCCCCCCCCCCCCCCCCCCC 34 DCCCCCCCCCCCCCCCCCCCCC 35 DCCCCCCCCCCCCCCCCCCCCC 36 DCCCCCCCCCCCCCCCCCCCCC 37 DCCCCCCCCCCCCCCCCCCCCC 38 DCCCCCCCCCCCCCCCCCCCCC 39 DCCCCCCCCCCCCCCCCCCCCC 40 DCCCCCCCCCCCCCCCCCCCCC 41 DCCCCCCCCCCCCCCCCCCCCC 42 DCCCCCCCCCCCCCCCCCCCCC 43 DCCCCCCCCCCCCCCCCCCCCC 44 DCCCCCCCCCCCCCCCCCCCCC 45 DCCCCCCCCCCCCCCCCCCCCC 46 DCCCCCCCCCCCCCCCCCCCCC 47 DCCCCCCCCCCCCCCCCCCCCC 48 DCCCCCCCCCCCCCCCCCCCCC 49 DCCCCCCCCCCCCCCCCCCCCC 50 DCCCCCCCCCCCCCCCCCCCCC 51 DCCCCCCCCCCCCCCCCCCCCC 52 DCCCCCCCCCCCCCCCCCCCCC 53 DCCCCCCCCCCCCCCCCCCCCC 54 DCCCCCCCCCCCCCCCCCCCCC 55 DCCCCCCCCCCCCCCCCCCCCB 56 DCCCCCCCCCCCCCCCCCCCBB 57 DCCCCCCCCCCCCCCCCCCBBB 58 DCCCCCCCCCCCCCCCCCBBBB 59 DCCCCCCCCCCCCCCCCBBBBB 60 DCCCCCCCCCCCCCCC A AAAAA 61 DCCCCCCCCCCCCCCBAAAAAA 62 DCCCCCCCCCCCCCBBAAAAAA 63 DCCCCCCCCCCCCBBBAAAAAA 64 DCCCCCCCCCCCBBBBAAAAAA 65 DCCCCCCCCCCBBBBBAAAAAA 66 DCCCCCCCCCBBBBBBAAAAAA 67 DCCCCCCCCBBBBBBBAAAAAA 68 DCCCCCCCBBBBBBBBAAAAAA 69 DCCCCCCBBBBBBBBBAAAAAA ≥70 DCCCCC B BBBBBBBBBAAAAAA ≤ 4  yrs. of service  25* ≥ 70  age as of 12/31/2017  ≤ 25 Access Category C: On 12/31/2017: Age + Yrs of Service < 80 Yrs of Service ≥ 5 Access to UM retiree insurance: As long as employee works to at least age 60 & 20 yrs. service: UM coverage Subsidy is $100/yr. for each Year of Service; $2,500 max. annually Access Category C: On 12/31/2017: Age + Yrs of Service < 80 Yrs of Service ≥ 5 Access to UM retiree insurance: As long as employee works to at least age 60 & 20 yrs. service: UM coverage Subsidy is $100/yr. for each Year of Service; $2,500 max. annually Access Category A: On 12/31/2017: Age ≥ 60 Yrs of Service ≥ 20 Access to UM retiree insurance: UM coverage Current % subsidy Access Category A: On 12/31/2017: Age ≥ 60 Yrs of Service ≥ 20 Access to UM retiree insurance: UM coverage Current % subsidy Access Category D: On 12/31/2017: Yrs of Service < 5 Access to UM retiree insurance: Ineligible Access Category D: On 12/31/2017: Yrs of Service < 5 Access to UM retiree insurance: Ineligible Access Category B: On 12/31/2017: Age + Yrs of Service ≥ 80 But either Age < 60 or Yrs < 20 Access to UM retiree insurance: As long as employee works to at least age 60 & 20 yrs. service: UM coverage Current % subsidy Access Category B: On 12/31/2017: Age + Yrs of Service ≥ 80 But either Age < 60 or Yrs < 20 Access to UM retiree insurance: As long as employee works to at least age 60 & 20 yrs. service: UM coverage Current % subsidy * Employees with ≥ 25 Yrs of Service will fall into categories A, B, or C depending on Age and Yrs of Service Plan closing to employees with less than 5 Years of Service, as well as new hires Note: Criteria for a given Access Category must be met before the effective date of 01/01/2018 (e.g., must be Age 60 with 20 Years of Service by 12/31/2017 to be in Access Category A). Note: Criteria for a given Access Category must be met before the effective date of 01/01/2018 (e.g., must be Age 60 with 20 Years of Service by 12/31/2017 to be in Access Category A). !

6. Planning Considerations 01/01/2018 and later Based on your Access Category on 12/31/17, you may be able to continue the benefits you were enrolled immediately prior to your retirement date, except Long Term Disability If you drop your medical, dental, or life insurance coverage you may not re-enroll Know your access category as well as review and if needed, adjust insurance coverage levels during the Annual Enrollment period prior to your retirement E XAMPLE If, as of the date of your retirement, you had self-only medical coverage… … as a retiree, you would be unable to add a spouse or dependents to your coverage.

7. Premium Estimates Premiums vary from person to person: If you are considering retirement within the next two years please contact our office to request an estimate. Rates are based on the current calendar years premiums. retirement@umsystem.edu

8. REMEMBER The decision of when to retire is an individual one and involves many factors, including the pension benefits you have earned, other retirement savings you may have, your insurance coverage options (both with and outside the university), and your own career and personal aspirations. There is plenty of time to evaluate your options, and Understand how the approved recommendations may or may not impact you. 8

9. Retiree Medical Plan Options Pre-Medicare Retiree Medicare-Eligible Retiree PPO Plan Healthy Savings Plan myRetiree Health Plan

10. CLAIM – Missouri’s State Health Insurance Assistance Program What is CLAIM? CLAIM is a FREE state-based program to meet local needs of the Medicare population CLAIM Provides free/unbiased counseling on all matters related to Medicare Medicare Education Medicare Advantage Supplemental policies Medicare Prescription Drug Program Billing Issues Much more! www.missouriclaim.orgwww.missouriclaim.org or 800-390-3330

11. Group Term Life Insurance Coverage Reduction for Age AgeCoverage 5575% 6050% 6535% 700% Basic Life A = 1 X Salary Basic Life B = 2 X Salary Note: After age 70 – Conversion privileges are available directly with the life insurance company.

12. Accidental Death & Dismemberment AgeCoverage Under 70$50,000 70 – 74$25,000 75 – 79$10,000 80 +$0

13. Other Retiree Benefit Programs Dental Vision Dependent Life Supplemental Life

14. University of Missouri System – Total Rewards Located in Columbia – Serving all campuses Address: 1000 W. Nifong Building 7, Suite 210 Columbia, MO 65211-8220 Phone: 573.882.9810 or 800.488.5288 Fax: 573.884.5422 Email: retirement@umsystem.edu Web: http://www.umsystem.edu/totalrewards/retirement