Premium Contribution Rate for Pre-65 Retirees
Effective July 1, 2013: the contribution percentage that a retiree pays toward the cost of premiums is determined by service credits paid into the UNM Voluntary Employee Beneficiary Association (VEBA). For more information on the VEBA, please refer to UNM Policy and Procedure 3600, section 3.1.
PRE-65 RETIREES | ||||||
|---|---|---|---|---|---|---|
| Number of VEBA Service Credit Years Contributed | Less than $25,000 | $25,000 - $34,999 | $35,000 and Above | |||
| UNM | Retiree | UNM | Retiree | UNM | Retiree | |
| 5 - 9 | 25% | 75% | 20% | 80% | 15% | 85% |
| 10 - 14 | 30% | 70% | 25% | 75% | 20% | 80% |
| 15 - 19 | 35% | 65% | 30% | 70% | 25% | 75% |
| 20 - 24 | 40% | 60% | 35% | 65% | 30% | 70% |
| Grandfathered with 25+ Service Credits | 60% | 40% | 50% | 50% | 40% | 60% |