Preparing for Retirement
As a newly retiring employee, you must re-enroll in PEBP coverage within 60 days of retirement if you wish to continue coverage as a retiree.
The Public Employees Benefits Program (PEBP) offers a comprehensive benefit package to eligible retirees and surviving spouses/domestic partners of these retirees. Browse our benefits overview page for more information on what's available to you.
To get started as a new retiree, you will want to review your plan options, learn how each medical plan works, and determine whether purchasing a voluntary product is right for you. We recommend reviewing the Retiree Enrollment Guide and the PEBP and Medicare Guide for more detailed information.
Retirement is a qualifying life event that allows you to make changes to your coverage. You may add eligible dependents and/or delete dependents from you coverage when you retire.
State and Non-State Retiree Eligibility
To be eligible for retiree coverage, you must meet the following requirements:
Pursuant to NAC 287.135, retirees with 5 or more years of service credit (or 8 years of service credit for retired Legislators pursuant to NRS 287.047) are eligible for retiree coverage if the employee’s last employer is participating in PEBP with their active employees. Retirees must also be receiving retirement benefit distributions from one or more of the following:
- Public Employees' Retirement System (PERS)
- Legislators' Retirement System (LRS)
- Judges' Retirement System (JRS)
- Retirement Plan Alternative (RPA) for professional employees of the Nevada System of Higher Education
- A long-term disability plan of the public employer
For more information regarding retiree benefits, premium subsidy, Exchange-HRA contribution (for Medicare retirees enrolled in the Medicare Exchange), and/or surviving dependent eligibility, please refer to the Retiree Enrollment Guide. Or, for a quick review of retiree benefits eligibility, you can also review the Retiree Eligibility Guide.
Initial Start of Retiree Coverage
The initial start of coverage is the first day of the month if the retirement date is on the first; otherwise, the initial start of coverage begins on the first of the month following the retirement date. (For example, if your retirement date is June 7, your coverage will begin July 1. If your retirement date is July 1, your coverage will begin that day.)
Eligible employees have 60 days from the date of their retirement to enroll in retiree coverage. Retirees that do not enroll within this timeframe will lose their opportunity to enroll in retiree coverage, unless they qualify for enrollment during the Retiree Late Enrollment. (NAC 287.540; NRS 287.0475)
To enroll, you must complete the Retiree Benefit Enrollment and Change Form (Retiree BECF) and Years of Service Form. To request the required forms, please call Member Services at (775) 684-7000 or (800) 326-5496.
Newly retiring employees, aged 65 or older (or under age 65 if approved for Medicare due to Social Security Disability benefits) at initial retirement must enroll in premium-free Medicare Part A (if eligible) and purchase Medicare Part B.
Retirees with Medicare Parts A and B will be required to enroll in a medical plan through Towers Watson’s OneExchange unless they cover a non-Medicare dependent on their plan.
PEBP will require verification of Medicare Parts A and B enrollment status through the submission of a copy of the Part A card, if eligible for premium-free Medicare Part A, or if ineligible for premium-free Medicare Part A, a copy of the denial letter issued by the Social Security Administration. All retirees are required to purchase Medicare Part B at age 65 (or under age 65 if eligible for Medicare due to disability).
Premium Subsidy for Retirees Enrolled in the CDHP or HMO Plan
Retirees who meet the eligibility requirements to receive a Years of Service Premium Subsidy will receive a monthly premium adjustment. The adjustment is based on the date of retirement and total years of earned service credit earned from all Nevada public employers (purchased service credit does not apply). The minimum subsidy is based on five years of service with incremental increases for each year above five years to a maximum of twenty years of service. For the Years of Service Premium Subsidy, view the State or Non-State Retiree Rates.
Medicare Part B Premium Adjustment for Retirees Enrolled in the CDHP and HMO Plans
Retirees enrolled in the CDHP or an HMO plan with Medicare Part B will receive a premium adjustment of $104.90 to offset the cost of their Medicare Part B coverage.
Exchange-HRA Contribution for Retirees Enrolled in the Medicare Exchange
The Exchange Health Reimbursement Arrangement or Exchange-HRA is a PEBP-owned account for eligible retirees enrolled in a medical plan through OneExchange. Eligible retirees receive a monthly contribution to their Exchange-HRA based on their date of hire, date of retirement, and total years of service credit earned with each Nevada public employer. For HRA contribution amounts, view the Exchange Health Reimbursement Arrangement (HRA).
Exchange-HRA Contribution for Retirees Enrolled In Tricare for Life
Retirees with Tricare for Life and Medicare Parts A and B are not required to enroll in a medical plan through the Medicare Exchange to receive the Exchange-HRA contribution. However, Tricare for Life retirees are required to submit a copy of their Tricare for Life and Medicare Parts A and B card to the PEBP office.
Declining (terminating) Retiree Coverage
Retirees who wish to decline PEBP coverage may do so by submitting a written request to decline all benefits. Declining the PEBP-sponsored coverage includes medical, dental, vision, prescription drug coverage, $12,500 Basic Life Insurance, Voluntary Life Insurance (if applicable), years of service premium subsidy, and Exchange-HRA contribution (if applicable).
Termination requests received prior to the requested date of termination will occur on the last day of the month; otherwise, coverage will terminate on the last day of the month following PEBP’s receipt of the written request.