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Retirement Planning

Q. 
How do I sign up for the Retiree medical/dental coverage?
A. 
You must complete the Other-than-COBRA Continuation of Coverage form (see the Resources section) within two (2) weeks from the date of retirement.   Completed forms must be returned to the HealthSmart third party administrator to request coverage continuation. Contact information for HealthSmart can be found on the continuation of coverage form.
Q. 
If I have questions regarding my retirement distribution options in the Shaw 401(k) Plan, what steps should I follow?
A. 
Contact Principal Financial Group at 1-800-547-7754 to discuss your distribution options. Distribution options are also detailed on the Retiree Interim Statement of Benefits and the Shaw 401(k) Plan Summary Plan Description (SPD).
Q. 
What happens if I am Medicare eligible when I retire?
A. 
You may continue medical/dental coverage for your covered dependents in accordance with Plan provisions until their full retirement age, based on IRS guidelines or until they are eligible for Medicare.
Q. 
What is the earliest age can I qualify for the Shaw retiree medical/dental coverage?
A. 
If you are at least age sixty-two (62) but under age sixty-five (65) and have at least five (5) years of continuous Company service, you may continue medical/dental coverage for yourself and your covered dependents when you retire until you become Medicare eligible (or the maximum period of time covered by COBRA, whichever is greater). You will be required to pay the premiums for this coverage.
Q. 
What is the Retiree Interim Statement of Benefits?
A. 
This statement is available through Corporate Benefits and details your current retirement plan holdings and available distribution choices.   The Interim Statement of Benefits is not a guarantee of your distribution amounts but rather a snapshot of estimated benefits as you approach your retirement date. Contact your HR Manager if you would like this statement prepared for you.