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KP Retirement

Understanding Your OFNHP KP Retirement Benefits
(as of January 2013)

Click here for a downloadable PDF of the information below

Click here for a PDF presentation with more detail

 

Defined Contribution
• TECH/RDH: 1% of compensation, vested after 3 years
• RN: 1.5% of compensation, vested after 6 months
• PRO/LABPRO: 5% of compensation beginning on 2-year anniversary, vested immediately

Defined Benefit (Pension)
Formula:
FAMC x Credited Years of Service x Multiplier x Reduction Factor (Age) = Monthly Benefit
Multiplier:
RN, TECH, RDH: 1.45%
PRO, LABPAO: 1.5%

Retiree Medical
• 30%/70% Cost Share
 2013 Medicare Eligible: $132.40/person/mo
 2013 Medicare Cost: Addt’l $104.90/person/mo
• 15 years of Service (1000+ hours)
• Most are eligible at age 65+
• Self-Pay available, if eligible, for under 65
• COBRA Available for additional gap

Health Reimbursement Arrangement (HRA)
“Pre” Sick Leave Hours – converted to pension credit
“Post” Sick Leave Hours – HRA: Cashed out at 80% pre-tax for out of pocket eligible medical expenses
Eligibility:
Leave Kaiser at age 55 or later
Have 15 years of service
Be benefit eligible for 3 years prior to leaving

Defined Benefit Estimates and Forms
• Kaiser Permanente Retirement Center
• (866)627-2826
• www.myretirement.kp.org

Defined Contribution and Tax-Sheltered Annuity (TSA)
• Vanguard Group
• (800)523-1188
• www.vanguard.com

Kaiser Retiree Medical/COBRA/HRA
• Kaiser Human Resource Service Center (HRSC)
• (877)457-4772

Local Benefits Rep: Judy Shafer, NW Region -- Call the KP HR Service Center (HRSC) at (877)457-4772 and ask to be transferred.

OFNHP Office:

        Mindy Bartlett

        mbartlett@ofnhp.org

        (503) 657-9974 x109