RDS Benefits Annual Enrollment
As stated in your RDS SPD, Annual enrollment for your RDS benefits usually occurs each fall (Ex. Oct. 24 - Nov. 15, 2019). Before it begins, you will be mailed enrollment materials and an upfront confirmation statement reflecting your benefit coverage to the address on file.
You’ll find enrollment instructions and information about your benefits options and contribution amounts. You will have the option to keep the benefit coverage shown on your upfront confirmation statement or select benefits that better support your needs. You can choose to enroll in eBenefits and receive this information via email instead.
Watch for your annual enrollment information in the September/November time frame. Review your benefits information and utilize the tools and resources available on the RDS Benefits Center website. Enroll in eBenefits.
Things to keep in mind
47% of Americans cite health care as their greatest economic concern. Medical bills are the No. 1 cause of bankruptcy in the United States. For older Americans, healthcare costs represent the second-largest expense, behind housing.
Short-Term & Long-Term Disability
Short-Term: Depending on your plan, you may have access to short-term disability (STD) benefits.
Long-Term: Your plan's long-term disability (LTD) benefits are designed to provide you with income if you are absent from work for six consecutive months or longer due to an eligible illness or injury.
|"47% of Americans cite health care as their greatest economic concern"|
What Happens If Your Employment Ends
Your life insurance coverage and any optional coverage you purchase for your spouse/domestic partner and/or children ends on the date your employment ends, unless your employment ends due to disability.
If you die within 31 days of your termination date, benefits are paid to your beneficiary for your basic life insurance, as well as any additional life insurance coverage you elected.
You may have the option to convert your life insurance to an individual policy or elect portability on any optional coverage. If you stop paying supplementary contributions, your coverage will end. If you are at least 65 and you pay for supplemental life insurance, you should receive information in the mail from the insurance company that explains your options. Make sure to update your beneficiaries.
|"For older Americans, healthcare costs represent the second-largest expense, behind housing"|
RDS Beneficiary Designations
As part of your retirement and estate planning, it’s important to name someone to receive the proceeds of your benefits programs in the event of your death. That’s how RDS will know whom to send your final compensation and benefits. This can include life insurance payouts and any pension or savings balances you may have.
Please call The Retirement Group at (800)-900-5867 or by clicking the button below for more information and we can get you in front of a RDS focused advisor.
This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.
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