Don’t quote me on this, but my understanding is that at 62 or older, the cost is around $90.00 a month for you and $90.00 a month for the spouse per month ($180.00 a month together). Every year you are shy of age 62 is an additional $90/$180 a month. So, you are probably looking at around $540.00 a month for you and the spouse at age 60.Anyone know what the health insurance costs if a participant is 60 years old and has over 20 years contributory years in Central States?
If you were under 62, it was $200 for you, $200 for your spouse . After age 62 it is $100 for you, and $100 for the spouse until you reach age 65 and you then go on Medicare. I waited until 62 to retire.Anyone know what the health insurance costs if a participant is 60 years old and has over 20 years contributory years in Central States?
I wonder if any of that $718.00 is for the JSO?I called a friend last night who had a seniority date of July 1986 but retired from ABF on January 2023. He was 60 years, 3 months and 3 days old when he retired. He said he is paying $718 a month for health insurance for two people. He said the insurance is on the teamcare web site but you have to dug it out. He suggested I stay until age 62 because the insurance is expensive.
Take half of what you would have to be cut on joint Survivor and buy a $250k term policy. if you kick the bucket your spouse will still have to pay taxes on your Pension. The $250K is tax exempt and far more in the long run they than they would receive as a survivor.No, joint survivor benefit was a separate cost. His original payout was $4,400 a month. But after JSB and health insurance and going at age 60 he gets around $3,000 a month.