Retiree I Benefits
Faculty/staff members who are age 55+ and who separate from service with 10 or more years of continuous full-time service at Baylor University are in the Retiree I category.

A retirement insurance application should be submitted to Human Resources within 30 days of the retirement date to be eligible to continue with retiree insurance benefits as noted below.

Medical Insurance

Pre-Age 65
Retirees who are under age 65 may choose to continue in their current Baylor Group Medical Plan. The cost of this plan will be specific to the retiree's coverage election, i.e., retiree only, retiree and spouse, retiree and children or retiree and family. The premium rates may be adjusted each year with an effective date of January 1, 20xx and retirees are notified of changes to benefits and/or premiums prior to the new calendar year. On the first day of the month of your 65th birthday, you will begin to receive Post-Age 65 medical benefits (listed below).

Post-Age 65
Medicare will become your primary medical insurance plan upon retirement. Baylor University partners with OneExchange, a Towers Watson company, whose licensed benefit advisors and comprehensive knowledge of the Medicare market combine to make them a trusted advisor for our retirees. OneExchange helps you and your spouse (if applicable) choose the health care coverage that matches your medical requirements and budget. Click here to learn more about this program.

Dental Insurance

Retirees may continue on the group dental insurance plan at the full cost of monthly premiums for retiree only, retiree-spouse or retiree-family coverage for as long as the benefit is needed. This option must be chosen within 30 days of retirement. Upon opting out of the dental benefit or if premiums are not kept current, termination from dental benefit is permanent. You will also have an option for enrollment in a dental plan with OneExchange. Their licensed benefit advisors will provide this information upon request.

Life Insurance

Upon retirement, the life insurance coverage provided for an employee is automatically canceled. Retirees have the option to purchase a $5,000 or $10,000 plan with a reduced group rate.

Dependent Life Insurance

Life insurance coverage for dependents is canceled upon the member's retirement.

Long Term Disability Insurance

Long-term disability coverage is automatically canceled at retirement.

Other Insurance

For any other payroll-deducted insurance, i.e., cancer, intensive care, the payroll office will contact the insurance company to request that they begin billing you at your home address. The Accidental Death/Dismemberment coverage (AD&D) provided through Blue Cross is available only for active employees and could not be continued upon retirement.

If you choose to stay with the group, you will be billed by the Payroll Department each month for premiums payable by the 10th of each month. You do have the option to prepay your insurance premiums from your last payroll check for the remainder of the year; therefore, saving tax dollars on premiums.

Surviving Spouse (current)
A surviving spouse who was enrolled in the medical plan as of the faculty/staff's retirement date will continue to have access to the group medical plan for pre-age 65 surviving spouse or the OneExchange program for post-age 65 surviving spouse.

Retirement Income Plan Funds
At retirement the retiree will receive retirement income based on the accumulation of Baylor's contributions, the retiree's prior contributions (tax deferred annuities) and the earnings and appreciation of such contributions in the retirement fund according to the terms of the Baylor University Retirement Income Plan.

Tuition Remission
Retirees - No tuition remission benefits are provided to retirees.
Spouse and Children (under the age of 27 as of the twelfth day of class of the semester) - Tuition remission benefits per eligible spouse and child are limited to the following options:
  1. One undergraduate degree or special course of study; OR
  2. Post-baccalaureate (up to 36 hours of credit hours) or graduate credit hours as appropriate to the degree/certification program; OR
  3. Six quarters of Law School - for children only
How is the eligible spouse and children limitation applied?
  1. Current student(s) of retiring active faculty/staff member, enrolled at retirement date, may complete academic degree/certification program in which they are enrolled. In this case, the student has received all for which they are eligible.
  2. Future student(s) of retiree may receive one year of tuition remission for each year of service earned by the retiree (aggregate of such students' years of tuition remission not to exceed years of service by retiree). Example: if retiree service years = 10, then a "future" student could apply four years to an undergraduate degree, leaving six years for a sibling or a spouse to apply to one of the applicable degrees.

Other Benefits

Retiree and spouse ID card, SLC/recreation facilities, library checkout, dining discount (McMullen-Connally Faculty Center - faculty/executive staff, or SUB - staff), 10% bookstore discount, access to free athletic events, season (discount) tickets for football/basketball games - pending availability, check cashing, parking permit, and electronic mail system with active Bear ID.