The Plan Administrator determines ORP Participants’ eligibility for Retiree Insurance benefits. A Deferred Retiree is an ORP Participant who meets these criteria:
- You must be a member of the ORP. This means that you maintain assets in the Program.
Special Note: Deferred Retirees may draw funds from the ORP at any time. However, they must leave a minimum amount in the plan to preserve their eligibility for Retiree Insurance benefits at a later date. Go to Preserving Eligibility to learn about the minimum requirements.
- You have accrued at least ten (10) Years of Creditable Service* for GIC purposes.
- You purchase insurance coverages from the GIC (e.g. health care; life insurance; dental coverage).
Premium Rate & Billing: Deferred Retirees pay the full premium rate for the coverages they purchase from the GIC. The Commission sends a direct bill to the participant for each month’s premiums.
Status Change: A Deferred Retiree may change their status to these other statuses at a future date:
- “Retiree”: upon meeting the eligibility requirements for this status;
- “Not Enrolled”: if they simply discontinue purchasing insurance from the GIC; and
- “Not Eligible”: if they remove all assets from the plan.