You Retire
When you decide to retire from the county, you should notify the Washington State Department of Retirement Systems (DRS) or the Seattle City Employees' Retirement System (if you remained in the city retirement system when you became a county employee) of your intentions as early as three to six months before retirement. Because you'll need to make some decisions, early notification will allow time for you and DRS to set up your retirement account for a smooth transition. (See Contact Information.)
To notify the county of your retirement plans, you need to submit a Termination Notice to your supervisor, payroll or human resources representative, and Benefits and Retirement Operations. (See Contact Information.) Your payroll or human resources representative will help you make arrangements for your last paycheck from the county.
If you participate in the county's deferred compensation plan, you'll need to contact T. Rowe Price, the current deferred compensation plan administrator, for information on withdrawing funds from your account during retirement. Unlike your DRS plan, your deferred compensation plan doesn't require that you begin making withdrawals immediately—you're not required to take distributions until you reach age 70(1) $2. You may contact the deferred compensation plan coordinator in Benefits and Retirement Operations for assistance. (See Contact Information.)
When you retire, county-paid health care coverage ends on the last day of the month you retire. You may continue the medical and vision coverage you had if you pay the full cost of coverage and:
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you're covered under the county's health care plans on your last day of employment;
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you've worked for King County for at least five consecutive years before you retire;
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you're not eligible for Medicare;
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you're not covered under another group medical plan; and
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you meet the requirements for formal service or disability retirement under the Washington State Public Employees Retirement Act or the Seattle City Employees' Retirement System, in which you elected to remain according to a formal agreement between King County and the City of Seattle.
When you retire, you cannot continue the dental plan you have with the county; however, you may purchase an alternative retiree dental plan. You may also continue the alternative dental plan coverage after you become eligible for Medicare and are no longer eligible for COBRA or retiree medical coverage.
If you choose COBRA benefits instead of retiree medical coverage, your covered dependents are eligible for the same coverage they had when you were an active employee.
If you choose retiree medical coverage, you may cover your dependents under that plan or your dependents may elect COBRA coverage instead. When you choose retiree medical coverage, however, you waive your COBRA rights. (For more information, see " Continuing Coverage Under COBRA" in Health Care.
If you're a member of a group that voted to participate in the HRA Voluntary Employees Benefits Association (VEBA), you must submit an HRA VEBA Membership Enrollment Form to Benefits and Retirement Operations within 12 months of your retirement date so that your 35% sick leave cash-out can be transferred to the VEBA. If you do not submit the form within 12 months, your cash-out will be forfeited.
When you leave county employment, you may pay to continue your existing life insurance (for reasons other than disability) or convert it to a whole life policy with Aetna Life Insurance. You also may be eligible to purchase accidental death and dismemberment (AD&D) conversion insurance with CIGNA Group Insurance. (For more information, see " How to Continue or Convert Coverage" in Life and Accident Protection.)
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