Saturday, April 11, 2020
Important Checklist for VEOP Lump Sum Participants
Congratulations to the Flight Attendants who elected the Lump Sum Voluntary Early Out Program (VEOP)! With just over two weeks until your retirement, we know that some of you may be feeling overwhelmed with everything that needs to be completed in such a short time. In order to assist you, the APFA Retirement Department has prepared a checklist of items that will need to be accomplished before and immediately following your retirement.
VEOP Lump Sum Option Checklist ✓
□ If starting your LAA pension, you must request your pension kit from the Pension Service Center no later than April 15, 2020 in order to be able to commence your pension on May 1, 2020. This can be done online via the Pension Service Center page in jetnet or by calling Team Member Services at 800-447-2000.
□ If starting your LUS pension from the PBGC, call 800-400-7242 as soon as possible to request your enrollment kit.
□ Both LUS and LAA members requesting a pension will need the following documentation, if applicable:
- If divorced – locate and make a copy of all pages in your decree to include with your pension kit.
- If widowed – locate and make a copy of your spouse’s death certificate to include with your pension kit.
□ Your first few months of pension payments will most likely be paid retro-actively as it normally takes 6 to 8 weeks process your initial payment.
□ Your COBRA solicitation/enrollment packet will be mailed out in early May. You have 45 days to make your enrollment elections, and your first payment. Once payment is received, your coverage will retro back to your separation on May 1, 2020 and you and your dependents under the age of 65, are eligible for 30 months of subsidized coverage.
□ As a quicker alternative, you can contact the Benefits Service Center approximately 48 hours after your retirement date at 1-888-860-6178 for assistance with your COBRA elections.
- Consider an auto pay option to avoid cancellation for non-payment.
□ Remember to file for any Health Care FSA expenses, if you have not done so. You are entitled to use the full amount you elected to deposit into the FSA for qualifying services or purchases that occur prior to your retirement date.
- If you or your spouse are 65 or older, you will need to enroll in Medicare and all its components, including Parts A, B and D; and select a Medigap Supplement.
- Download form CMS-L564 – Medicare Request For Employment Information and print out a copy for each person on your coverage who will be enrolling in Medicare. Complete Part A (the top section of the form) and mail or FAX the form to the Benefits Service Center: PO BOX 661052, Dallas, TX 28256. FAX# 847-554-1884. Faxing is quicker. The Benefits Service Center will complete the form and return it to you via US Mail.
- This form will service as proof of active coverage to avoid Medicare Late Enrollment penalties for signing up past age 65 for Part B and Part D.
- Contact a Medicare Broker in your area to assist you in wading thru the numerous options for a Part D Prescription Drug and Medigap Supplemental policies. VIA Benefits is a Medicare broker who contracts with AA to assist their retirees. Their number is: 1-844-686-0483. You may also access the “help me decide” tools on www.medicare.gov, and www.aarp.org.
- Part B enrollment is conducted through the Social Security Administration. Consider online or mail-in enrollment while offices are shuttered due to COVID-19.
□ Contact your FSM and make arrangements to return your company equipment. Your FSM should have a checklist they will follow to let you know what they need from you. They may be able to send you a FedEx envelope for returning these items.
□ Remind your FSM to order your Retirement Catalog and Certificate of Service.
□ Within the first few days of your separation, your access to jetnet will end and your access to the AA Retiree Website will activate 24-48 hours later. The website is http://retirees.aa.com and you sign in with your AA employee number and your most recent jetnet passcode. This passcode must be changed every 90 days.
- The AA Retiree website will be your source for accessing the Benefits Service Center, Payroll information, Non-Rev Travel Planner, and keeping your information updated with American.
- You can access your ePays records from the AA Retiree website, but CAN NOT access paperless pay. Download any paperless pay records you may need for preparing your future taxes.
□ Following your separation, visit https://c03.keysurvey.com/f/112668/24a3/ to upload a photo and order your AA Retiree ID card. You will need a government photo ID for travel, but the ID card will give you access to discounts on hotel, car rental, interline travel deals, and FED EX shipping
□ Your 401(k) will freeze for the first 30 days of your retirement. After the freeze concludes in early June, you are free to leave the money where it is or arrange for a rollover to an IRA. Consult your financial planner or the Fidelity Customer Service Center at (800) 354-3412.
□ Vacation and the 456-hour Lump Sum will pay out no later than March 15, 2021. If you had elected the Vacation Buy-Back last January, then vacation will pay out in mid-June 2020.
□ Congratulations on your retirement!
APFA National Retirement Specialist