Retirement Angles Exist in Coverage

Employees who elected higher coverage in the open season but who have since cannot continue the newly elected coverage into retirement. Also, the FEGLI 2004 open season was not a “first opportunity” for electing coverage and therefore, an employee must have the new coverage for the five years of service immediately before retiring or starting to receive compensation in order to continue that coverage as an annuitant or compensationer. That means the earliest most employees can retire and carry the new coverage elected during the open season into retirement or compensation is September 3, 2010.