Open enrollment for healthcare plans is in October. Open enrollment is when you can change your healthcare plan or sign up for new benefits. This year, open enrollment is optional due to the pandemic, however we strongly encourage you to mark your calendar and make time to review your plans. Many SEIU 503 members can increase their take home pay by switching to a lower cost plan or, if you have a spouse who is also a public employee, by adjusting your double coverage option. In the coming months, PEBB will be releasing open enrollment information to help you make these decisions. We will also update Pebbexplained.com with that information when it becomes available.
Changes to the retirement plan that were passed by the State Legislature last year went into effect on July 1. Here’s what you need to know.
- SB 1049, passed by the Legislature in 2019, is a cut to your retirement plan. It will reduce the amount of money going into your Individual Account Program (IAP) fund. It will not impact your pension. For more details, read our FAQ. For a general overview of your retirement package, click here.
- SEIU members can make their IAP whole by contributing more of their own money to the program. There will be a window from September 1 to October 31 where you can make this adjustment. For details call PERS Member Services at 888-320-7377.
This year, members will also be able to adjust how their retirement funds are invested. Learn more about PERS Target Date Funds here. There will be a window from September 1 to September 30 when you can make adjustments. For details call PERS Member Services at 888-320-7377.
Finally, our Union – along with other public employee unions – is suing the State to block SB 1049 from going into effect. Last month the Oregon State Supreme Court heard oral arguments in that case. A ruling is expected in December.
Our Union’s Membership Advantages program has taken steps to provide members with benefits that will help us through COVID-19.
Members who have LifeMap short term disability insurance through SEIU 503 can file a claim if they contract COVID-19 or a quarantine is imposed on them. Please note that a waiting period of 3 weeks applies before benefits begin. Claims may require formal documentation from a health agency.
Do you have student loans and have seen a disruption to your income as a result of COVID-19? The SEIUMB Student Loan Forgiveness Navigator may be able to help reduce your student loan payments.
SmartSavings also offers discounts on online therapy and health programs, educational programs for kids, entertainment and food delivery.
For additional information contact our Member Assistance Center at (844) 503-SEIU (7348).