Timing rules: avoid a gap that could cost you retiree coverage
PEB's Savannah explained how small differences between termination and retirement dates can create coverage gaps, when COBRA may be offered, and that some benefits—like basic life insurance—can be lost if coverage lapses.
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Savannah urged members to align termination and retirement dates precisely to avoid any break in retiree coverage. "The key idea is to avoid a break in coverage," she said, and illustrated with calendar examples (terminate May 30, retire May 31 → coverage begins June 1; terminate May 30, retire June 3 → coverage may not begin until July 1).
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