Increased Benefits for NCPERS Voluntary Group Life Insurance
May 2, 2008
In 1989, IMRF endorsed a life insurance program for IMRF members through the National Conference on Public Employee Retirement System (NCPERS). The administrator for the plan is American Administrative Group (AAG), and the underwriter is Prudential. Your employer may or may not participate. Please disregard this memorandum if it does not.
All IMRF members who are actively at work and covered under the $9 or $12 NCPERS Voluntary Life Plans will be given the opportunity to upgrade their benefits to the $16 per month plan as of July 1, 2008, on a guaranteed issue basis.
The $16 plan provides increased benefits over the $9 and $12 plans. The $16 plan was designed to help this insurance keep pace with inflation.
Members currently insured under the $9 or $12 plans will receive an enrollment package at their homes the week of May 5, 2008. This package will include a:
- Letter from AAG, informing the member of this opportunity and instructions regarding waiving the upgrade to remain in the old plan
- Chart detailing the increased benefits payable under the $16 plan
- Upgrade waiver form the member has to complete and give to you (or to the person at your unit of government who administers the plan) no later than May 31, 2008.
Employees who do not return the upgrade waiver form will be automatically upgraded to the $16 plan.
The person at your unit of government who handles the monthly reporting to AAG will receive the enrollment information with a copy of the upgrade waiver form, as well as a list of members eligible to make this change. We have worked with AAG in an effort to make the notification process as easy as possible.
The NCPERS Voluntary Life Plan has proven to be a valuable benefit to our members and their families. We appreciate your cooperation and help in making these increased benefits available to them.