Dear Faculty and Staff,
At Grand Valley State University, we deeply value your long-standing commitment to the Laker community. Because you joined Grand Valley prior to January 1, 2014, you are eligible for the GVSU Retiree Medical Program. We are writing to share an upcoming transition in how this program will be administered. This change is designed to provide you with more flexibility and personal choice regarding your benefits in retirement.
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GVSU is transitioning the administration of our Retiree Medical Program to ensure long-term stability. Please note that this change only applies to your future retiree medical coverage and does not affect your current health insurance coverage as an active employee.
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In March 2026, you will have the opportunity to choose the path that best fits your personal financial goals:
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Option 1: A One-Time Lump Sum Payment. You can choose to receive the present value of your future benefit reimbursements as a single check, mailed in April 2026. This allows you to manage these funds immediately. Please note that receiving this lump sum payment is a taxable event for 2026, and you will be sent a Form 1099 in early 2027 for your tax filing purposes. Even if you are not yet vested in the program, you are still eligible to elect the lump sum payout today.
- Option 2: Guaranteed Annuity. If you prefer a recurring benefit, GVSU will partner with a reputable annuity provider to issue payments to you twice a year upon your retirement.
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- February 2026: Within the next week, you should receive a letter in the mail from Plante Moran with more details regarding this transition.
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March 2026: An informational packet will be mailed to you, providing further explanation of your options.
- March/April 2026: The lump sum election period will end. Once you receive your informational packet in March, you will have 30 days to make your election.
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April 2026: Participants who elect to receive the one-time lump sum payment will receive their lump sum payment distributed by GVSU.
- May 2026: GVSU will select an insurance company to provide benefits twice a year for those participants who do not elect the lump sum payment.
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June 2026 & beyond: Participants who elect to receive benefits twice a year upon retirement will be notified of the selected insurance company. Participants can contact the selected insurance company any time after retirement age and separation from GVSU to begin receiving your benefit.
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If you haven't received your first letter in the mail by February 16, or if you have questions in the meantime, please reach out to our dedicated help line at 1 (877) 511-0873 or via email at GVSU@plantemoran.com.
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We understand that financial decisions require careful thought. To ensure you have everything you need to make an informed choice, we have partnered with Plante Moran to provide the following:
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- Detailed Information Packet: In early March, you will receive a 9x12 packet in the mail containing your specific offer details and all the information necessary to make your election.
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In-Person Support: We will be hosting optional in-person meetings to discuss these changes, answer your questions, and walk through your options together. Information regarding those meetings will be included in your packet received in March.
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Dedicated Help: If you have questions, please reach out to our dedicated help line at 1 (877) 511-0873 or via email at GVSU@plantemoran.com.
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1 Campus Drive
1090 James H. Zumberge Hall
Allendale, MI 49401
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