Effective July 1, 2013: the contribution percentage that a retiree pays toward the cost of premiums is determined by service credits paid into the UNM Voluntary Employee Beneficiary Association (VEBA). See VEBA and UNM Policy and Procedure 3600, section 3.1 for more information.
65+ RETIREES |
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|---|---|---|
| Number of VEBA Service Credit Years Contributed | UNM | Retiree |
| 5 - 9 | 10% | 90% |
| 10 - 14 | 15% | 85% |
| 15 - 19 | 20% | 80% |
| 20 - 24 | 25% | 75% |
| Grandfathered with 25+ Service Credits | 30% | 70% |
