Public Employees Retirement System (PERS) - Life Insurance Information

Active Employees

• Coverage Amount 

  One and one-half (1 1/2) times last 12 months' salary (no cost) and 1-1/2 times last 12 months' salary (contributory)

• Cost 

  .0050 of base salary (contributory)

• Changing Beneficiary  

  Change anytime. Change in Beneficiary Form

• Conversion

  Terminated employees may continue life insurance without a medical exam by purchasing a conversion life insurance policy through Prudential within 31 days of termination

Retired Employees

You must retire with 10 or more years of PERS pension credit for coverage

• Coverage Amount 

  Three-sixteenths (3/16) times last 12 months' salary

• Cost 

  No cost to retiree

• Changing Beneficiary  

  Change anytime. Change in Beneficiary Form

• Conversion

  Retirees may purchase a conversion life insurance policy through Prudential without a medical exam within 31 days of retirement (to make up for insurance that has been reduced or eliminated)

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Last Updated: 03/16/2007