Will I automatically be accepted for additional life insurance?

New hires have Basic Term Life and AD&D coverage provided at 1x annual salary provided as guarantee issue at no cost. Additionally, new hires may elect additional supplemental life insurance in increments of 1x, 2x, 3x, 4x and 5x one's annual salary. If you choose to sign-up for more than 2x your annual salary in additional life insurance, you are required to complete an evidence of insurability (EOI) questionnaire.

Can I select different beneficiaries for my basic and additional life plans?

Yes, just complete separate beneficiary designation forms.

What is the amount of the Basic and Accidental Death & Dismemberment (AD&D) coverage?
The basic life insurance is equal to your annual base salary. The AD&D insurance is also equal to one time your annual base salary in the event your death is a result of an accident. For information regarding dismemberment benefits, contact Human Resources Customer Service at (210) 207-8705.

Can I select more than one beneficiary?
Yes, if more than one primary beneficiary is selected, proceeds will be allocated in equal amounts, unless you state a specific percent.

What is a contingent beneficiary?
This is a secondary beneficiary in the event the primary beneficiary passes away before a life insurance claim is paid out.

How often should I update my beneficiary?
You may change as often as needed. You may wish to update your beneficiary if you have a marriage, divorce or death of a beneficiary.

What is the minimum contribution?
The minimum contribution is $10 per pay period.

What is the maximum contribution?
The maximum contribution is $16,500 annually for 2010.

What are the catch-up provisions for Deferred Compensation?
As you approach retirement, you may contribute additional amounts along with the maximum normal annual contribution under the catch up provision. Employees over age 50 may elect to contribute an additional $5,500. If an employee is within three years of normal retirement age, 2x the normal annual maximum may be deferred. This option may be taken only once per lifetime.

How can I withdraw my money?
Monies can be withdrawn once an employee terminates employment with the City, either through retirement, termination or death. Unforeseeable emergency (subject to strict IRS guidelines) also is an option given to employees to withdraw funds available through the Plan. Small Balance Account Withdrawals - if you have an account balance of less than $5,000.00 and have not made contributions for 24 months or longer.

What qualifies as an emergency withdrawal?
*A sudden and unexpected illness or accident of yours or your dependent.
*A loss of, or damage to, your property due to an accident, disaster, destruction or theft (beyond insurance reimbursement).
*A similar extraordinary and unforeseeable circumstance beyond your control.

What companies administer deferred compensation (457) for the City?
ICMA Retirement Corporation (1-800-735-7202)
Nationwide Retirement Solutions (1-877-677-3678)

What is an EAP?
An EAP offers free counseling to full-time employees and their household members to help them resolve personal matters which may affect their work performance or quality of life.

How many counseling sessions may I attend?
The EAP will provide six free counseling sessions per person per issue, unlimited issues, per year.

Are there services other than counseling?
Yes, the EAP also provides one free consultation with an attorney per year, and offers counseling for financial and debt management issues.

Are the sessions confidential?
Yes, all sessions are confidential.

Can you provide examples of short-term counseling needs?
Examples would include family problems, marital problems, drug and/or alcohol and dependency, depression, compulsive gambling, anger management, eating disorders, financial mismanagement, legal problems, anxiety, stress, tension, grief, child and adolescent problems, interpersonal problems with co-workers and supervisors, and parenting problems.

Who can I contact to schedule an appointment?
Contact the EAP at 1-800-735-2989 to schedule an appointment.

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