Employer Update

The VRS Optional Group Life Insurance Program will see an overall rate reduction of 5% effective July 1. Based on plan experience and actuarial projections, premium rates will reduce for four age brackets:

• Ages 45-49: Decreases from $0.14 to $0.12 per month per $1,000 of coverage.
• Ages 55-59: Decreases from $0.33 to $0.31 per month per $1,000 of coverage.
• Ages 60-64: Decreases from $0.59 to $0.54 per month per $1,000 of coverage.
• Ages 65-69: Decreases from $1.06 to $1.02 per month per $1,000 of coverage.

Optional group life insurance provides a cost-effective way for members to ensure financial security for loved ones. For members who have had optional life for at least 60 months and are eligible to retire, they may continue a portion of their optional coverage upon separation while taking advantage of these same group rates.

Adjust Payroll System and Inform Members

The rate reduction will require adjustments to your payroll withholding for optional group life policy holders in the noted age brackets. Remember to inform employees who will see a decrease in premiums deducted from their paychecks after July 1.

Questions?

Contact NaTosha Palmer at Securian Financial: 1-800-441-2258 or natosha.palmer@securian.com.