VEBA Post-Retirement Health Benefits

When and How to Exercise your One-Time Opt In Opportunity

Eligibility (All criteria must be met)

• You were a benefits-eligible employee employed or hired between June 30, 2013 and June 30, 2015
• You opted out of VEBA, have sat out 5 years, and this is the first Open Enrollment following the 5-year anniversary of your opt-out effective date
• You are a benefits-eligible employee and qualify to opt in during an Opt-In period

Opt-In Period for FY24: April 19 – May 8, 2023

Open Enrollment for FY24 (July 1, 2023 – June 30, 2024) is the only Opt-In opportunity for VEBA participants who opted out with an effective date between June 1, 2017 and May 1, 2018. If you meet this criterion and are interested in participating in VEBA, you must complete the VEBA Opt-In Form that was mailed to your address on file and either

• Upload via Secure Document Upload
• FAX it to 505-277-2278
• MAIL to University of New Mexico, Benefits & Employee Wellness, 1700 Lomas Blvd NE, Albuquerque, NM 87131.

Date-Stamp/Post-mark must be no later than May 8, 2023

Late Opt-In requests will NOT be accepted.

Your VEBA contributions will start being deducted from your paycheck(s) beginning in July 2023.

If you have opted out and miss your opt-in window, you will not have another opportunity to participate in VEBA.

See the VEBA Timeline and Rules document for Opt-Out and Opt-In periods.

When and How to Opt Out

Opt-Out Period for FY24: April 19 – May 5, 2023

VEBA participants who no longer want to participate may opt out of VEBA during any annual Open Enrollment period. UNM recommends that a professional financial advisor is consulted when making this important decision because when an employee opts out once, he or she only has one opportunity to opt back in.

Opt-Out Instructions for FY24 Open Enrollment:

1. Between April 19 and May 5, 2023, go to MyUNM.
2. Log in with your UNM Net ID and password
3. Enter LoboWeb (center of screen)
4. Click Benefits and Deductions
5. Select Voluntary Employee Beneficiary Association (VEBA)
6. Select VEBA Status and Election Page
7. Under Election Options, select VEBA Opt-Out Election Page
8. Review the Opt-Out form, especially the certification details in the highlighted area
9. Check the box to certify that you understand your Opt-Out election
10. Click Submit
11. Retain a copy of your opt-out election confirmation for your records. You should also receive an email confirmation.

Late Opt-Out requests will NOT be accepted.

Note that employees:

• who were grandfathered in and who opt out of VEBA, forfeit their twenty-five years of post-retirement VEBA service credits.
• who subsequently opt in during their only one-time Opt-In opportunity will start only with zero or any previously earned VEBA service credits.
• who opt out, and do not choose to opt back in during their one-time Opt-In opportunity will permanently forfeit their access to post-retirement UNM medical and dental insurance benefits.

See the VEBA Timeline and Rules document for Opt-Out and Opt-In periods.