Once you are ready to retire, below is a list of steps that you should follow:
- Please refer to the attachment below for an overview of what happens to your benefits when your employment with NYP ends.
- When you have finalized your retirement date, please contact your manager and/or Human Resources Business Partner to inform them of your intention to retire.
- To access The 401(a) Retirement Plan and/or The Retirement Savings Plan (including your match), please get in touch with Empower at nyp-retire.com. Schedule time with your Empower Counselor by clicking the "Meet your Retirement Counselors" tile.
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Medical (including prescription drug coverage) and dental coverage will continue until the last day of the month in which you retire. All other health related insurance coverage terminate on your last work day.
- If you are 65+ years old when you retire: Apply for Medicare Part A & B. Contact Medicare at 1-800-633-4227 for more information.
- If you are not eligible for retiree medical coverage or Medicare: Consider medical coverage through COBRA. Every employee who terminates employment with NYP will be sent a COBRA election package automatically from Wage Works.
- Convert your Life Insurance to an individual policy through The Hartford. Your coverage and rates may change. A Life Insurance package, outlining your options, will be mailed to your home address on record, shortly after your retirement date.
- Contact your local Social Security office to learn more about your Social Security benefits and Medicare.
For More Information:
Contact HR Connects through the chat at the bottom right of your screen, or “Submit a request” for more information.
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