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State of Delaware: Office of Pensions

OFFICE OF PENSIONS

Message from Pension Administrator:
- David C. Craik

Important Message Regarding Pensions ServicesIn light of the Pension Office staffing shortage and the unprecedented number of pension applications arriving in our office, an administrative decision has been made to suspend Estimate & Counseling services as well as Pension Creditable audits and reviews effective June 15, 2009 so that staff may focus on processing the new pension applications in a timely manner.  These services will resume in September 2009.   Counseling and estimate requests already in process will be completed.  Individuals who elect to retire will have their service verified as part of the application process.

Individuals seeking the above services are encouraged to use their 2008 Comprehensive Annual Statement, the calculator on our web site (Link: Delaware State Employee Estimate Calculator) and/or contact their Human Resources Office. If you do not have a copy of your 2008 comprehensive annual statement, the Office of Pensions will mail one to you.

When reviewing a State Employees’ Pension Plan Comprehensive Annual Statement, you may use the factor in line 7 of Block 4 of 6 to determine the additional pension benefit for each year worked beyond December 31, 2008. Your pension benefit will increase by the factor in line 7 for each additional year of service. Divide the number in line 7 by 12 to determine how much your pension benefit will increase for every month you work beyond December 31, 2008.



Special Message from David C. Craik... As a member of the Delaware Public Employees' Retirement System (DPERS) you are participating in a Defined Benefit Plan, and your retirement benefits are paid out to you regardless of market events. When you retired DPERS calculated your monthly pension benefit based on various factors such as years of service and salary, not investment results. DPERS takes responsibility for the management and investment of the trust fund and understands that markets will fluctuate. DPERS investment policy seeks to minimize risk and provide returns over the long term.

Over the last year, the Board of Trustees (Board) of DPERS, through its Investment Committee, has taken material steps to protect the asset value of the investment portfolio. During these challenging market conditions, the Board, Investment Committee, and consultants are constantly monitoring DPERS’ investment portfolio. It is important to remember that DPERS is a long-term investor with a time horizon that lasts over decades and that the investment portfolio is well diversified in many different asset classes.

For those of you who have already reached retirement, we hope you will find the services provided within this site a convenient extension of those that have served you well throughout the years.

And for those of you who are still active members, I would like to welcome you to a resource that can provide you with information about your retirement plan, the services available to you before retirement and the benefits that await you when you reach your retirement years.
      We will be closed on the following day / holiday:
     • Independence Day | Jul. 3, 2009 |  Friday







NEWS

NEWS ON PRESCRIPTIONS - MAINTENANCE MEDICATION PROGRAMNEWS ON PRESCRIPTIONS… MAINTENANCE MEDICATION PROGRAM

EFFECTIVE 07-01-09:
Members must obtain maintenance medications as 90 day fills at a 90-day participating pharmacy or Medco-by-Mail to avoid paying a penalty after a third 30 day fill. Additional information is available by calling:

  • Medco’s Member Services at: 1-800-939-2142
  • Statewide Benefits Office at 302-739-8331 or 1-800-489-8933
  • Pension Office at 302-739-4208 or 1-800-722-7300.

    • A list of 90-day participating pharmacies and information on Medco-by-Mail may be obtained at
    LINK: http://ben.omb.delaware.gov/script/index.shtml

    Download Adobe .PDF File Format - Governor Markell Budget Address FAQsGOVERNOR MARKELL’S BUDGET ADDRESS FREQUENTLY ASKED QUESTIONSAppeal Hearings PDF Document

    Go visit Governor Markell News PageFrequently Asked Questions - Delaware Budget Address:
    A list of 21 frequently asked questions with answers regarding the State of Delaware Budget Issues for fiscal year 2010. Questions range from State Pensions and Retirement, Budget Cuts, and more.

     

    Open Enrollment 2009 - PDF Document Download2009 BENEFITS OPEN ENROLLMENT - .PDF

    2009 Benefits Open Enrollment (May 4 to May 20):
    The State Employee Benefits Committee presents your 2009 Open Enrollment information. The Committee strives to maintain a comprehensive benefit package for State employees and pensioners. Presented with difficult financial times, premiums for health care have been increased for the first time in four years. We encourage you to review your health, dental, vision and group legal coverage and choose the plans that are right for you! The 2009 Open Enrollment period is your once-a-year opportunity to enroll,make changes or terminate coverage in these plans.

    * Please visit the Statewide Benefits web site at www.ben.omb.delaware.gov for additional information.
     
    Estimate your retirement using our online calculatorsPENSION ESTIMATE CALCULATORS

    Online Pension Plan Calculators:
    The State of Delaware Board of Pension Trustees administers the Delaware Public Employees' Retirement System. The System consists of nine retirement plans and three commingled pension funds. The formula used to calculate pension benefits differs from Plan to Plan. Find an estimate for your retirement by finding your Pension Plan's specific calculator.
    State of Delaware - Life Lines December 2008 NewsletterLIFE LINES NEWSLETTER - JUNE 2009

    Life Lines Newsletter - December:
    Newsletter provided by the State of Delaware Group Health Insurance Program for their Employees, Pensioners, and their Families that contains information on health, fitness, eating well, safety, and more...
    •Delaware Statewide Benefits Office:
    Archived Life Lines Newsletters

     
    Last Updated: Wednesday, 24-Jun-2009 09:48:34 EDT
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