If you are reemployed under conditions which terminate
your annuity, your life insurance coverage as a retiree also ends without the
right to convert to an individual policy. You can, however, acquire life
insurance coverage as an employee, provided you are reemployed in a position
which includes such coverage.
If your annuity continues during your reemployment and you
are reemployed in a position which is excluded from life insurance coverage, you will retain any
Basic and Optional life insurance coverages you have as a retiree.
If you are reemployed in a position with life insurance
coverage, you will automatically acquire Basic life and any Option A and Option
C coverage you have as a retiree or an employee unless you waive all insurance coverage.
Note: Any waiver of life
insurance you file with your employing agency as a reemployed annuitant applies
not only to your life insurance as an employee, but also to the insurance you
have as a retiree.
You are eligible for Option A - Standard insurance unless
you have on file a valid waiver of Basic life insurance or Option A insurance.
In addition, you can acquire Option C - Family insurance as an employee, unless
you have on file a valid waiver of Basic life insurance or Option C.
If you acquire the above life insurance coverage(s) as an
employee, your employing agency will withhold the applicable premiums from your
salary, and we will suspend your Basic life, Option A, and Option C during your
reemployment. After your employing agency notifies us, we will stop withholding
premiums for Basic, Option A, and Option C.
If you are reemployed in a position with life insurance
coverage, you are also eligible for Option B - Additional insurance, unless you
have on file a valid waiver of Basic life insurance or Option B insurance.
However, if you have this insurance as a retiree, that coverage will continue
unless you file an election of Option B insurance on Standard Form (SF) 2817,
Life
Insurance Election, with your employing agency within 31 days after you are
reemployed. If you do so, your employing agency will withhold premiums for your
employee-acquired Option B insurance from your salary. (Please note that if you file SF 2817 with your employing agency, you
must fill it out completely to reconfirm all the coverage you have, not just
electing Option B. Otherwise, your other coverage will be cancelled.)
In this instance, your Option B coverage as a retiree
(including any premiums withheld from your annuity) will be suspended during
your reemployment after we receive proper notification from your employing
agency.