Retirement Planning Tips for New York State Employees
Tip of the Month
May 2015 - What portion of the cost of health insurance must I pay as a retiree?
The amount you must contribute toward the cost of your health insurance coverage as a retiree will be based on your salary grade (or equivalent) at the time of retirement. The amount you must contribute toward the cost of your health insurance coverage as a retiree is the same as what an employee pays. However, payment as a retiree is spread over 12 monthly payments rather than 26 biweekly payments. You may be able to use sick leave credits to reduce your cost. For more information go to the Department of Civil Service website at www.cs.ny.gov or call (800) 833-4344.