IMRF is a member of the National Conference of Public Employers Retirement Systems (NCPERS). Through IMRF’s association and your group’s membership in IMRF, you are eligible to participate in the NCPERS Group Life Insurance program.
Frequently Asked Questions
Who is eligible?
All actively employed members of IMRF are eligible for this insurance if their current employer has adopted the plan.
Eligible dependents are your spouse or domestic partner ($16 plan only) and unmarried children from live birth up to age 26. Dependent children are your legally adopted children, stepchildren and foster children who depend on you for support. Dependents in military service are not eligible. There are no medical exams or health requirements.
How can I keep this coverage if I terminate employment?
If you terminate employment, you may convert your Public Employee Financial Protection Plan to a Prudential individual life policy within 31 days following termination of employment. Your spouse’s Dependent Term Life coverage may also be converted if you cease to be a member or die. Download the group life conversion form required to convert your coverage.
What if I am retiring and want to continue my coverage?
If you are insured in the NCPERS Life Insurance program as an active member and will receive a benefit upon retiring, then benefits can be continued into retirement and your monthly premium will not change. You may continue your benefits by authorizing the retirement system to deduct your contributions from your retirement check. When Member Benefits is notified of your retirement by your employer we will send you the authorization form that you must sign to allow the retirement system to take deductions from your check. Since the process takes approximately 30 to 90 days to complete, your check will be adjusted for unpaid premiums.
What if I am disabled?
If you are under 60 years of age, become totally disabled (as determined by Prudential), and have been disabled for at least nine months, your Schedule of Benefits for Public Employee Financial Protection Plan* may be continued without further contributions as long as you annually furnish proof of your continued disability satisfactory to Prudential. For information about applying for this Waiver of Premium, call Member Benefits at 800-525-8056.
*Waiver of Premium does not apply to dependent spouse, domestic partner or child coverage. Dependents may want to exercise their conversion privileges.
How do I enroll?
To Enroll: If you are an actively employed member of IMRF, and your employer is currently offering the NCPERS life insurance, there are two different times you may enroll: either within 90 days of your date of employment, or during our annual open enrollment (October 1 – November 30). Simply complete the enrollment card and return it to the person designated to handle this insurance at your unit.
When Your Coverage Begins: If you are an actively employed member, actively at work and enroll within 90 days of your date of employment, you will become insured on the first day of the month following your first payroll deduction. If you enroll during the open enrollment period, your coverage begins on the first day of the month following your first payroll deduction after the open enrollment (typically January 1).
When Your Dependent Coverage Begins: Dependent coverage begins when your insurance coverage becomes effective. If a dependent is confined for medical treatment, coverage will become effective when the dependent is released by a doctor from such confinement.
Termination: Your coverage will end if you discontinue payments, cease to be a member of the eligible classes, or if the plan is discontinued.
If I enroll during open enrollment, when can I expect to receive a copy of my policy?
Policy Certificates for participants are sent out within 30 days after the enrollment has been processed by Member Benefits. Policy Certificates are mailed directly to employees.
Are there now four plans to choose from, costing $6, $9, $12 or $16 per month?
NO! New members are automatically enrolled at the $16 premium level. Continuing employees on the $6, $9, and $12 plans are not eligible for the upgrade to the $16 Plan. Those employees that waived the upgrade to the $16 plan will continue at $6, $9, $12, and will not be eligible for future upgrades. If you have coverage, but terminate, and then wish to reenroll, you will be considered a new member. As a new member, you must submit a new enrollment card and will be placed in the $16 plan.
What is my current benefit?
Can I find out who is listed as my beneficiary?
Please call Member Benefits toll free at 1-800-525-8056 to find out who is listed as your current beneficiary.
How can I change my name or beneficiary?
Beneficiary or name change information cannot be taken over the phone. Prudential requires that the change be on the appropriate form and must be signed and dated by the member. Download Prudential’s “Change of Beneficiary and/or Name” form and follow directions on the form.
How does the claims process work?
In the event that you need to file a claim, please complete and return the Death Claim Form on the Forms page.
Death claims are usually paid within 4-6 weeks from receipt of complete claim information. Incomplete information will delay the claim.
Subject to applicable state law, Prudential’s Alliance Account® is the standard settlement option for death benefits of $5,000 or more.1 We will establish an interest-bearing account in the beneficiary’s name. Beneficiaries earn interest as long as the account remains open. They can withdraw the full amount immediately, write drafts2 against the balance, or leave the funds in the account to collect interest. For death benefits of less than $5,000, claims will be settled via a lump sum check.
The following settlement and payment options are available as an alternative to the Alliance Account:
- Lump Sum: The beneficiary may receive the full death benefit in a single lump sum check or receive the full amount via Electronic Funds Transfer (EFT).
- Payment for a Fixed Period: The death benefit plus interest may be paid over a fixed number of years (1 to 25) either monthly, quarterly, semiannually, or annually.3
- Payment in Installments for Life: The death benefit may provide monthly payments in installments for as long as the beneficiary lives.
- Payment of a Fixed Amount: The beneficiary may choose an income payment of a stated fixed amount either monthly, quarterly, semiannually, or annually.
- Interest Income: All or part of the proceeds may be left with Prudential to earn interest, which can be paid annually, semiannually, quarterly, or monthly. The minimum deposit is $1,000.
To file a claim, contact the Member Benefits at 1-800-525-8056, email NCPERS@memberbenefits.com, or use the downloadable form linked above.
1Beneficiaries may wish to consult a tax advisor regarding interest earned on the account. There are fees for special services, such as stop payment requests. Prudential’s Alliance Account is a registered trademark of The Prudential Insurance Company of America.
2Alliance Account drafts are considered checks under federal law for certain purposes.
3Interest rates may change.
The Bank of New York Mellon is the Administrator of the Prudential Alliance Account Settlement Option, a contractual obligation of The Prudential Insurance Company of America, located at 751 Broad Street, Newark, NJ 07102-3777. Draft clearing and processing support is provided by The Bank of New York Mellon. The Bank of New York Mellon is not a Prudential Financial company. Alliance Account balances are not insured by the Federal Deposit Insurance Corporation (FDIC). All funds are held within Prudential’s general account, which is not FDIC insured because is not a bank account or bank product
Who is Member Benefits?
Member Benefits is responsible for administering the IMRF/NCPERS plan.
Who is the National Conference on Public Employee Retirement Systems (NCPERS)?
NCPERS is an organization of Public Employee Retirement Systems that was organized in 1942 to safeguard and promote the rights and benefits of public employees in national, state and local retirement pension or annuity and benefit systems. For more information on NCPERS visit their web site at www.NCPERS.org.
NCPERS has no role in the administration of the life insurance program and the benefits are guaranteed solely by the insurance carrier. NCPERS is compensated solely for the use of its name, service marks and mailing lists.
The National Conference on Public Employee Retirement Systems (NCPERS) takes its role to protect and maximize the financial security of public pension members and their dependents very seriously. In 1966-68 they retained Gallagher Benefit Services, Inc. to design a voluntary plan that would allow members to eliminate or reduce their financial risk regardless of when death occurred. The Prudential Insurance Company of America was selected to issue the coverage, which became available to the membership on August 1, 1969.