Avoid potholes on your road to retirement
A serious illness or injury can lay you up for months, but it doesn’t have to completely derail your retirement savings. When you're enrolled in RPB's long term disability plan, contribution insurance may also be included as long as you meet the requirements. This additional protection will continue your employer retirement contributions—up to 15% of your compensation—should you become disabled.
You’re eligible for RPB’s contribution insurance at no additional cost if you're receiving long-term disability (LTD) insurance benefits through RPB (underwritten by MetLife), you were receiving retirement contributions from your employer at the time of disability, and your combined employer and employee contributions are at least 10% of your compensation.
Understanding MetLife’s qualifications
You’re qualified to receive contribution benefits if you’re receiving disability payments due to a permanent and total disability and are unable to work because of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of at least one year.
- Contributions continue while disabled:
Beginning in the seventh month following the date of your disability, provided you are receiving monthly benefits under the LTD plan, MetLife will pay an amount equal to your employer's contribution to your RPB account each month, up to 15% of your compensation (and parsonage, for clergy).
- Payments end in retirement:
Your retirement contributions will stop after you reach retirement age or you are no longer considered disabled, whichever is sooner.
Not sure if you’re on the right track?
Our Retirement Navigator provides a checklist based on age, helpful tips, and more.