Everyone should have received a mailing from the WEA Trust that outlines your various options for coverage following the District’s June 30th termination. It includes a schedule of meeting dates and the number of months of premium payments that will determine your prorated Reduced Paid-up (RPU) Option plan. Check this information carefully.
We have received a couple of phone calls to the KEA office from a member and a retiree who have told us that they had believed their information, called the Trust, and gotten it resolved – so it appears some mistakes may have been made and you should contact the Trust if you feel something does not seem right. There are districts across the state that are terminating LTC coverage this year because of the Trust having secured the RPU Option, so they are very busy trying to get out information.
Our LTC plan began in January of 2000, so any of you who have been in the plan from the beginning should have 198 premium payments credited to the plan by the termination date. Understand that if you were not at least age 35 by January 1, 2000, your prorated percentage will have to be calculated differently from the standard because of the way the language was structured for the group plan. If you were age 35 or older by that date, then the prorated plan to which you would be entitled would be 55% of the current maximums, and you will be automatically enrolled in this coverage by the Trust if you take no action at all.
To our best knowledge, the Trust is also offering to individuals who could have become vested in the LTC plan within the 2016 calendar year had the District continued coverage – that is, individuals who were hired between July and December of 2006 – the option to pay the Trust the premium amounts needed to achieve the 120 payments needed to be vested in the plan and qualify for the various LTC options. These individuals should call the Trust or attend one of the scheduled meetings to get clarity on this point.
If you have any questions, please call the KEA at 262.654.2127. We will answer what we can, or get you in touch with someone who can help.