RETIREMENT NOTICE - CHOOSING LIFE INSURANCE OPTIONS

When an employee retires, they are provided with a “retirement package” from the Port Authority.  This package of forms includes required information for updating an employee’s:

• Mailing address
• Health selection
• Dental selection
• Dependents
• Life insurance

Regarding Life Insurance, it is a contractual benefit for PAFSA members to be provided Life Insurance that is carried into retirement at no cost to the member, (with a benefit that is respective to their date of hire).

It has come to PAFSA’s attention that a member, upon retirement, mistakenly selected NOT to choose a Life Insurance option in retirement because they believed there was an associated cost continuing into retirement for maintaining such.

With this in mind, members are encouraged to speak to a Union Representative upon their receipt of their PA retirement package, before completing the Life insurance component, to receive appropriate guidance to maintaining this important benefit.