Hallmark Retiree Benefit Guide
Hallmark Retiree Benefit Guide2019
congratulations!The decision to retire and transition into your next phase of life is one to celebrate.As a Hallmarkyour health, and your life after work.spend time with family and friewill enrich your life.understanding your choices.What benefits and coverage options are right for me?Can I take time to decide when to receive payments from my retirement savings accounts?What benefit options are available for my dependents?Below is a snapshot of the benefits available to you during retirement. Take time to understand thechoices available to you. Choose wisely. Choose well.your benefits at a glanceyo u r fina ncesyo u r he althyo u r lifeChoice of one:Retiree medical, dental and visionCash Balance(if hired prior to 2006)Profit Sharing &Savings Plans(if hired prior to 2010)Retiree discountsand activitiesCOBRA for yourcovered dependents (children)Retiree Club,newsletter and websiteORCOBRA medical, dental and visionORWaive coverage*Important! For benefits requiring enrollment you have one opportunity to either:Defer enrollment in Hallmark retiree health benefits—medical, dental and visionWaive and enroll in COBRA or another group medical coverage option.Those who waive coverage and would like to return to Hallmark retiree benefits at a later date, arerequired to provide proof of continuous group coverage by submitting a certificate of crediblecoverage for all group medical plans they were enrolled in during the entire waive period.22
table of contentsThe Hallmark Retiree Benefits Guide offers ayou will find information on each benefit available to you in retirement, enrollment and eligibilityinformation, and more.4 getting started15 your health6 eligibility22 your life8 enrollment23 Medicare9 your finances25 resourcesThis guide describes many of the features of Hallmark’s retiree benefits in general terms. The specificterms and conditions of these benefits are governed by summary plan descriptions, insurancecertificates, and service agreements. In the event of a conflict or ambiguity regarding the informationrepresented in this document, the plan documents, contracts and agreements will govern.Visit the Hallmark retiree website, corporate.hallmark.com/retirees/benefits to access and printthese documents. To request a hard copy of any of these documents, call the HR Service Centerat 816-545-6200 or 888-545-6200 or email HRservicecenter@hallmark.com.Hallmark will continue to evaluate medical and other benefits on a regular basis and will makemodifications in light of changing circumstances, such as increased costs and changes in nationalhealth care policy.Hallmark reserves the right to amend, modify or discontinue medical and other benefit plans.33
getting startedAs you prepare for retirement, there are several steps to secure your retirement benefits.To get started:Review this benefit guide in detail to understand important planning information for yourretirement, including your benefit options, eligibility criteria, enrollment resources and more(a Quick Summary of Retiree Benefits and Deadlines is available on page 5).Set a firm retirement dateAt least 60 days prior to this retirement date:ooInform your manager, ER representative and Hallmark’s retirement counselorof your intended retirement date.Complete the Request for Retirement Form available on the intranet (Benefits andPrograms Retirement Planning)Prior to your retirement date, you should make a decision about your retiree medical,dental and vision benefits. Once your decision is made:ooComplete and submit a Retiree Health Care Election Form to notify Hallmark whether youwish to enroll in, decline or waive retirement benefits—medical, dental and vision.This form is personalized. If you attend a retirement education session, you will receive yourform there. If not, it will be mailed to your home address on file in HR Direct.PRO TIP!You will need to provide copies of your birth certificate, your spouse ordomestic partner’s birth certificate, and marriage license or passportto the Hallmark Pension Center as part of the retirement llmark’s retiree website is specifically designed to provide you access to important informationand documents. Visit this site to get information about your benefits, annual enrollment, premiumsor to access the Summary Plan Descriptions and SBCs-plan summaries and certificates ofcoverage.44
summary of retiree benefits and deadlinesbenefitdeadlinehow to electkey considerationsavailabilityProfitSharing &Savings PlanAge70 1/2ContactEmpower Retirement866-233-6886 orReview beneficiarydesignation3 to 4 weeks allmarkAge 70 1/2or60 daysbeforepayment(s)beginRetireeDental andVisionInsuranceNo laterthan 30days fromyourretirementdateRetireeMedical andPrescriptionNo laterthan 30days fromyourretirementdateCOBRACoverage forDependents60 daysfollowingretirementContactHallmark Pension Center844-266-6313 to requestyour Retirement Packet andinitiate pension payment.Lump Sum: SpousalConsent Form, copiesof birth/marriagecertificates ORPassport requiredAnnuity: W4P, DirectDeposit Form, copiesof birth/marriagecertificates or passportrequiredEnrollment Election Formprovided in retirementclass or mailed to homeaddress.Retiree Health CareElection Form return to HallmarkIf you do not mail thecompleted form to Mercer w/in30 days of retirement, you willnot have coverage and will notbe eligible in the future.2019 HallmarkEnrollment Form mail directly to MercerEnrollment Election Formprovided in retirementclass or mailed to homeaddress.More information or to enroll:hallmark.benefitsnow.com or844-231-3475COBRA packet mailed tohome address.If applicable, complete andreturn the COBRA Electionform to WageWorksYou must enroll athallmark.benefitsnow.comno later than 30 daysfrom retirement date.Failure to enroll willresult in permanent lossof eligibility for retireemedical coverageCOBRA packet mailedto you by WageWorksapproximately 2 weeksafter retirement.Lump Sum:4-6 weeks afterretirementAnnuity:End of monthfollowing month ofretirement.Effective date is the1st of the monthfollowingretirement.Premiums billed andauto pay informationprovided by Mercer.Effectiveimmediately atretirement.Premiums billed andauto pay informationprovided by Mercer.Immediately.Coverage for up to18 months.Basic Life,SupplementalLife &DependentLifePolicyConversion30 daysfrom yourretirementdateContact HR Service Center(888) 545-6200Immediately.Premiums will bebilled by MetLife.55
your eligibilityretiree medical, prescription, dental and visionHallmark offers group Pre-Medicare medical and prescription drug coverage, dental andvision insurance in retirement for eligible employees.To receive this coverage, you must meet all the requirements outlined below.Have a hire date before January 1, 2010*Retire from Hallmark at or after age 50Have 15 vested years of service; 10 vested years, if retiring after age 65Have 10 or more years of continuous medical plan participation immediatelypreceding retirement (either as a full- or part-time employee)Have at least 10 years of full-time service (40 hours/week continuous or noncontinuous; need not be immediately preceding retirement)Retirees who meet the requirements outlined above are also eligible to enroll in dental and vision atretirement.*Employees hired on or after January 1, 2010 are not eligible for retiree medical, dental and vision.A note on Medicare: Medicare is typically effective the 1st day of the month in which you turn age65. For those whose birthday falls on the first day of the month, Medicare begins on the 1st day ofthe prior month. Pre-Medicare medical automatically ends at 11:59 p.m. the day prior to yourMedicare eligibility date.If you or your spouse are already 65 when you retire, in addition to enrolling in Medicare you maywant to consider purchasing a Medicare supplement plan. You can find resources to help youresearch your options on page 8. You will also have the option at retirement to enroll in retireedental and vision.Important!A subsidy is the amount Hallmark contributes to the total cost of your medical insurance.Today (for eligible employees)Hallmark provides a subsidy for pre-Medicare medical coverage to those who retire andare at least 55 years of age with 15 or more years of service.Retirees age 50 to 55 with 15 or more years of service are eligible for unsubsidizedmedical coverage.Beginning January 1, 2021 (for eligible employees)Hallmark will provide a subsidy for pre-Medicare medical coverage to those who retireand are at least 59 years of age with 20 or more years of service at the time ofretirement.Retirees ages 50 to 59 with 15 or more years of service will be eligible for unsubsidizedmedical coverage.66
your eligibility (cont.)cash balanceAvailable if you were hired prior to 2006 and have three or more vested years of service.profit sharing and savings planHallmark provides for your financial future through profit sharing and 401k savings. In theyear of retirement, you will be eligible for a profit-sharing contribution if you worked at least1,000 hours prior to your retirement.medical plan dependent eligibilityWith your Hallmark retiree benefits, you can cover your:Spouse at the time of retirementDomestic partner at the time of retirementoYou and your partner must meet eligibility criteria and submit a completed Declaration ofDomestic Partnership form.oYour spouse or domestic partner can be added to your coverage at the time of retirement,but not after.If you waive coverage prior to age 65, you must return to coverage on or before becomingMedicare-eligible (typically age 65) and your eligible spouse or domestic partner must return tocoverage at that same time.Children covered by Hallmark benefits at the time of retirement will be offered COBRA.designate your beneficiariesGet peace of mind that your benefits will be distributed according to your preference by updatingyour beneficiaries today.Designate or update your beneficiaries on:Profit Sharing andSavings PlanCash Balance Retirement(if hired prior to 33-6886Hallmark Pension Centerhttps://ypr.aon.com/hallmark1-844-266-631377
enrollmentREMINDER! If you are eligible to enroll in Hallmark Retiree Medical, Dental and Vision Benefits, youmust complete the Retiree Health Care Election Form to notify Hallmark whether you wish to enrollin, decline or waive retirement benefits—medical, dental and vision. In addition to completing thisform you must complete a separate enrollment process for your coverage described below.o This form is personalized. If you attend a retirement education session, you willreceive your form there. If not, it will be mailed to the home address you have on filein HR Direct.o Completed forms should be returned to Benefits MD #510You are encouraged to fully understand your benefits before enrolling; it is recommendedthat you review this guide in full prior to using the resources listed below.MedicalDental and VisionVisitto enroll inmedical benefits (pre-Medicare eligibility); youhave 30 days from your retirement date to enrollfor coverage effective the first day of retirement.All eligible retirees wishing to enroll indental and vision must complete theHallmark Enrollment Form and mail toMercer (address listed on the form) within30 days of your retirement date forcoverage effective the first of the monthfollowing retirement.If choosing to enroll in COBRA instead ofHallmark Retiree benefits, Hallmark’s COBRAadministrator will mail enrollment informationand rates to your home approximately twoweeks after your retirement date.Medicare-eligible retirees, for a free, noobligation consultation / quote for medical andprescription drug plans, you may contact one ofthe two independent agencies below or anagency of your choosing:United Medicare om/HallmarkBasic or Supplemental Life InsuranceYou have options to continue your lifeinsurance in retirement. For moreinformation on conversion or portability ofall or a portion of your basic orsupplemental life insurance to anindividual policy, contact the HR ServiceCenter within 30 days of retirement toinitiate the process.OR Select Quote 877-263-8107www.hallmark.sqbenefits.com88
your financescash balance retirementAvailable to you if you were hired prior to 2006 and have three or more vested years of service.be n e f i t p a r t n e r :Hallmark Pension Centerbenefit option:Cash Balance Retirementypr.aon.com/hallmark844-266-6313Your benefit in the Cash Balance Plan is based on your accumulated pay credits and interestcredits. You continue to receive monthly interest credits until you begin receiving monthly paymentor take a lump sum payment after leaving the company.For estimates of your cash balance benefit, visit ypr.aon.com/hallmark.your payment optionsA variety of options are available when you decide to begin payments. You can choose oneof the options below; additional detail about each option is outlined on the next page.Single cash payment (lump sum)Monthly annuity (if hired prior to 1997- have option to receive monthly annuity with or withoutCost of Living Adjustments -COLA)oLife annuity, joint & survivor, period & certainoPayments begin the month after your retirementRemain in the cash balance plan and defer payments to a later date (can defer until age 70 1/2)Your selection of a payment option depends on your personal circumstances and whenyou’re ready to receive payments.To begin payments, call the Hallmark Pension Center at 844-266-6313. They can alsoanswer questions you have regarding your pension calculation. Copies of birth certificate andmarriage license or a copy of your passport will be required to process payment.Payment from the Plan is issued by State Street Bank; once you begin payment, State Street willsend you a 1099R for year-end tax purposes.99
single cash payment (lump sum)Single payment with 20% tax withholdingORRoll over to an IRA or your Profit Sharing and Savings Plan (no taxes are withheld).*Payout typically requires 4-6 weeks to process.monthl y annuity pa yment (with or without COLA*)Life annuityoooPays you for the remainder of your lifeStops upon your deathRequires spousal consent if you are marriedJoint and Survivor annuityoooTypical form of payment for married participantsPays you and your spouse/partner for remainder of your livesCan choose 100%, 75% 65% or 50% survivor benefit (any option other than 100% Jointand Survivor requires spousal consent)Period and CertainooooPays you for the remainder of your lifeGuarantees payment to another person for either 10, 15 or 20 years if you do not livebeyond the guarantee periodBeneficiary can be anyoneSpousal consent is required if you are marriedYou may opt to have federal and state taxes withheld, however where required by law, state taxeswill be automatically withheld once payments begin. *Cost of living adjustment (COLA) is availableto eligible retirees, if hired prior to 1997.If you elect a monthly payment, your payments will begin the month after you retire. (Example: If you retireJune 15 and elect monthly payments, the first payment is made July 28)remain in cash balance retirement planYou can choose to defer payment of the cash balance retirement funds up to age 70 1/2.Monthly interest credits will be applied to the Cash Balance plan until you begin monthly paymentsor take a lump sum distribution1010
profit sharing and 401(k) savingsbe n e f i t p a r t n e r :Empower Retirementbenefit option:Profit Sharing and 401(k) Now that you’ve built a strong financial future, you have choices in deciding when and how toaccess your funds.
Retiree Club, newsletter and website Important! For benefits requiring enrollment you have one opportunity to either: x Defer enrollment in Hallmark retiree health benefits—medical, dental and vision x Waive and
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When Jenny turns 65, she retires with IU Retiree Status. Both elect IU Retiree coverage: ‒ Jenny—IU Anthem Blue Retiree Plan (for 65 ) ‒ Dan—IU Anthem U65 PPO HDHP (for under 65) When Dan turns 65, he can switch to the IU Blue Retiree plan—the same plan as Jenny. Scenario #1 . Jenny & Dan. Dan - Age 63 (Spouse) Jenny .
If you are selecting 'Retiree & Children,' 'Retiree & Spouse' or 'Retiree & Family' coverage, you must complete the dependent information in Section 4. Group Legal Plan: You must complete the dependent information in Section 4. Please send the white copy of the form to: FBMC Benefits Management, Inc. Retiree Direct Bill PO Box 10789
Wells Fargo & Company Retiree Plan. Please take the time to read this supplementary information to the Wells Fargo & Company Retiree Plan (Retiree Plan) describing how testing and evaluation for COVID-19 is covered effective January 1, 2021, and keep a copy of it with your
Retiree Benefits Change Form Author: Office of Human Resources Subject: Retirees from the University of Missouri should use this Retiree Benefits Change Form to make changes to their benefits Keywords: university, missouri, um, enrollment, retiree, benefit, change, form Created Date: 10/1/2020 1:49:14 PM
Retiree contributions will decrease for Retiree Only and increase for all other tiers in the Kaiser Northern California Health Plan option. Retiree contributions for Retiree Family coverage will increase and all other tiers will decrease in the Kaiser Southern California option. For more plan information, please call Kaiser at 1-800-278-3296.
Retiree Health Plan Marathon Petroleum Company LP (Company) sponsors and maintains the Marathon Petroleum Retiree Health Plan (the "Plan" or "Retiree Health Plan"). This document amends and restates the Plan effective as of January 1, 2022. This document serves both as the plan document and the Summary Plan Description (SPD) for the Plan.
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