Securian Group Life

Group Life Insurance Details

Securian Financial

• Suffolk Schools pays for each Full Time Employee Group Life plan
• Employees pay the tax for Group life.  This is located in 12a of the Employee W2, section C
• Group Life covers the employee for 2x their salary while actively employed with Suffolk Public Schools.
• Coverage remains during short term disability (STD) as a Suffolk Schools Employee
• If on Leave of Absence (LOA) the employee must pay the full premium to keep the policy in place while absent.  This amount is based on the employees salary at time of LOA.  Tax still applies.
• If the employee resigns coverage is lost immediately
• At retirement the coverage amount decreases 25% each full calendar year for three years.  Once the coverage amount reaches 25% of the original, that amount remains for life.

Conversion of Group Life Insurance Enrollment (Scroll to Page 5)

Questions?
retirement@spsk12.net