Pera's Life Insurance Offering: What You Need To Know

The Public Employees Retirement Association of Minnesota (PERA) is a member of the National Conference on Public Employee Retirement Systems (NCPERS) Voluntary Life Insurance Plan. This plan is issued by the Prudential Insurance Company of America (Prudential). Active PERA defined benefit plan members may be eligible for this group term life insurance plan if their employer participates in the program.

PERA members may be eligible for the group term life insurance plan

The Public Employees Retirement Association of Minnesota (PERA) is a member of the National Conference on Public Employee Retirement Systems (NCPERS) Voluntary Life Insurance Plan. This plan is issued by the Prudential Insurance Company of America (Prudential).

Active PERA defined benefit plan members may be eligible for the group term life insurance plan if their employer participates in the program. This insurance can be continued into retirement, with deductions taken from the member's monthly benefit, but the member must be enrolled while they are still active.

The NCPERS program has been offered to PERA members since 1989. This is because it has a unique plan design that suits public pension plan members. The plan fills in the gaps in members' needs that are not addressed by the pension plan. Over 30,000 PERA members, retirees, and their dependents are insured under this plan. The overall NCPERS Plan, of which PERA is a part, insures more than 87,000 members, retirees, and dependents. It has been providing added security for public employees for over thirty years and has paid over $100 million to beneficiaries.

PERA does not administer the life insurance policy. For all questions, members are advised to contact Member Benefits at 1-800-525-8056 or via email at [email protected].

Coverage can continue into retirement

The Public Employees Retirement Association of Minnesota (PERA) is a member of the National Conference on Public Employee Retirement Systems (NCPERS) Voluntary Life Insurance Plan. This plan is issued by the Prudential Insurance Company of America (Prudential).

The NCPERS program has been offered to PERA members since 1989. It is well-suited for public pension plan members and fills members' needs not fully addressed by the pension plan.

Active PERA defined benefit plan members may be eligible for this group term life insurance plan if their employer participates in the program. The coverage may be continued into retirement with deductions taken from the member's monthly benefit, but the member must be enrolled as an active member.

If the member is participating in the life insurance program at the time they retire, they may elect to remain active in the program after retirement.

Since the plan's inception more than 40 years ago, Prudential has paid over $105 million to NCPERS members and their beneficiaries. It currently serves the needs of over 85,000 public employee retirement system members nationwide.

The life insurance policy is not administered by PERA

The Public Employees Retirement Association of Minnesota (PERA) is a member of the National Conference on Public Employee Retirement Systems (NCPERS) Voluntary Life Insurance Plan. This plan is issued by the Prudential Insurance Company of America (Prudential). While PERA members can access this life insurance plan, it is important to note that PERA does not administer the life insurance policy. The NCPERS Voluntary Life Insurance Plan is a group term life insurance plan that is available to active PERA defined benefit plan members if their employer participates in the program.

As a member of the NCPERS Voluntary Life Insurance Plan, PERA members and retirees can access supplemental life insurance. This insurance is designed to fill needs that may not be fully addressed by the pension plan. The NCPERS plan has been providing added security for public employees for over thirty years and has paid over $100 million to beneficiaries.

The NCPERS Voluntary Life Insurance Plan has certain eligibility requirements. To be eligible for the group term life insurance plan, individuals must be enrolled as active members. Additionally, the coverage may be continued into retirement, but only if the member is participating in the life insurance program at the time of retirement. It is important to note that the Accelerated Benefit Option, available to group life insurance participants, is not a substitute for health, nursing home, or long-term care insurance.

The NCPERS program has been offered to PERA members since 1989

The Public Employees Retirement Association of Minnesota (PERA) is a member of the National Conference on Public Employee Retirement Systems (NCPERS) Voluntary Life Insurance Plan. The NCPERS program has been offered to PERA members since 1989. This is because it has a unique plan design that is well-suited for public pension plan members and fills members' needs not fully addressed by the pension plan.

PERA's membership in NCPERS allows it to offer this life insurance plan, but it does not participate in the carrier selection, design, or operation of the plan. The NCPERS Voluntary Life Insurance Plan is issued by the Prudential Insurance Company of America (Prudential).

Active PERA defined benefit plan members may be eligible for this group term life insurance plan if their employer participates in the program. The coverage may be continued into retirement, with deductions taken from the member's monthly benefit, but the member must be enrolled while still active. If a member is participating in the life insurance program at the time of retirement, they may elect to remain active in the program after retirement.

The NCPERS program has provided added security for public employees for over thirty years. It has paid over $100 million to beneficiaries of public employees. More than 30,000 PERA members, retirees, and their dependents are insured under this plan.

Prudential has paid over $105 million to NCPERS members and beneficiaries

The Public Employees Retirement Association of Minnesota (PERA) is a member of the National Conference on Public Employee Retirement Systems (NCPERS) Voluntary Life Insurance Plan. This plan is issued by the Prudential Insurance Company of America (Prudential). The NCPERS program has been offered to PERA members since 1989. It is well-suited for public pension plan members and fills members' needs that are not fully addressed by the pension plan.

The NCPERS Voluntary Life Insurance Plan is a group term life insurance plan. It is available to active PERA defined benefit plan members if their employer participates in the program. Coverage may be continued into retirement, with deductions taken from the member's monthly benefit, but the member must be enrolled as an active member.

Since the plan's inception over 40 years ago, Prudential has paid over $105 million to NCPERS members and their beneficiaries. The plan currently serves the needs of over 85,000 public employee retirement system members nationwide. The NCPERS Plan insures more than 87,000 members, retirees, and dependents and has been providing added security for public employees for over thirty years. It has paid over $100 million to beneficiaries of public employees.

The NCPERS Public Employee Financial Protection Plan was designed to provide extra financial security to augment retirement benefits with affordable rates. Coverage is available 24/7, on or off the job, and requires no health examination or questions. Acceptance is guaranteed regardless of previous health issues. Eligible dependents include a member's spouse or domestic partner, and unmarried children from live birth up to age 26.

Frequently asked questions