Intel U.S. Retirees: Benefit Programs and Resources
Below are resources for Intel Retirees and their families.
Intel Involved Matching Grant Program and Matching Gifts to Education Program
For more information about these programs, please visit www.easymatch.com/intel.
Intel Retiree skills and energy bring great value to our communities. Intel increases the value of your volunteering by donating $10 for each hour you volunteer to most non-profit 501(c) 3 under the Intel Involved Matching Grant Program.
This is the same program provided to Intel employees. Retiree hours are added to employee hours to determine matching grant amounts. Hours can be reported at any time using this web based form but all must be reported by January 15th of the following year. For complete details on the program see, Intel Involved Matching Grant Program. For more information on reporting hours, see Tips for Reporting Volunteer Hours.
Deadline is Jan. 15, 2014 for 2013 volunteer hours.
Fidelity NetBenefits* Website
Access the Fidelity NetBenefits* website for your Sheltered Employee Retirement Plan (Intel 401(k) Savings Plan) account inquiries, transactions, investment education and tools. For personal assistance, contact the Intel 401(k) Savings Plan Service Center toll free at 1-800-401-7377.
Retiree Health Programs Overview
Intel’s retiree health program has two elements:
- Sheltered Employee Retirement Medical Account (SERMA)
- Intel Retiree Medical Plan (IRMP) includes medical and vision option
Who is eligible for Intel’s retiree medical program?
If you meet any of the retirement eligibility rules, you will be eligible to participate in the IRMP medical or vision plans.
If you were hired before January 1, 2014, a SERMA will be established upon your retirement from Intel if you are a U.S. employee at the time you retire and meet any of Intel’s retirement eligibility rules.
On or after January 1, 2014, if you separate from Intel or transfer from an Intel SERMA participating entity to a non-participating subsidiary or entity, your past years of service for the purpose of calculating SERMA will be forfeited. For example, you are not eligible for SERMA if you were:
- Hired on or after January 1, 2014
- Rehired on or after January 1, 2014
- Transferred to Intel U.S. from a non-participating Intel subsidiary (e.g., McAfee, Wind River, Havok) or non-participating Intel entity (e.g., Intel China) on or after January 1, 2014
SERMA is provided to help purchase health insurance for you and your eligible dependents once you have retired from Intel and have met the eligibility requirements.
When you retired from Intel as a U.S. employee, Intel established a SERMA for you. You may use your SERMA credits to pay for Intel Retiree Medical Plan premiums or you may reimburse yourself for eligible non-Intel sponsored health care premiums.
SERMA: The flexibility to spend your healthcare dollars how you see fit
SERMA may be used to increase your health insurance choices and help you stretch your SERMA credits. You have the option to use SERMA to pay for all or part of your IRMP premium or to reimburse yourself for the cost of other eligible health insurance premiums.
Using SERMA for non-Intel sponsored health care premiums
You may use your SERMA credit to reimburse yourself for premiums paid for you and your eligible dependents until you exhaust your account. As long as you are not enrolled in IRMP, you may use your SERMA credit toward other health care premiums. Eligible reimbursements may include premium payments for:
- Individual health insurance
- Individual dental insurance
- Individual vision insurance
- Long-term care
If you are enrolled in IRMP, you may also use your SERMA credit toward other eligible health care premiums. For example, if you are on the IRMP plan and your spouse is enrolled in a non-employer sponsored medical plan, you may now use your SERMA toward both your IRMP premium and your spouses non-Intel premium expenses.
For information on your SERMA balance, contact the Intel Health Benefits Center at 877-466-9236, or online at www.intel.com/go/myben under Your Spending Account tab. The Your Spending Account web site allows you to:
- View your SERMA account balance
- Submit claims (you have the option to submit claims online, by fax or by mail)
- Check the status of your claims
- Learn more about eligible expenses.
Note: The Your Spending Account tab will not be available to you until your retirement effective date, which is typically the first of the month following your retirement. If you want to know your SERMA balance before Your Spending Account is available, you may view your SERMA balance in the health plan enrollment section of the My Health Benefits website, or you can contact the Intel Health Benefits Center at (877) 466-9236.
Intel Retiree Medical Program (IRMP)
The IRMP is the medical plan available from Intel Corporation to eligible retirees and their eligible dependents.
The plan is designed to provide access to comprehensive medical coverage for:
- Retirees and their eligible dependents who are Medicare-eligible (typically, age 65 and over).
If you are not Medicare-eligible (typically if you under age 65 you are not eligible for Medicare), you may enroll in the CIGNA Coinsurance Plan.
If you are Medicare eligible, you may enroll in either the CIGNA Indemnity Plan with RX or the CIGNA Indemnity plan without Rx. The difference between the plans is the “with Rx” plan includes a prescription drug benefit whereas the “without Rx” plan does not.
IRMP Vision Plan
You have two vision plans from which to choose – VSP Basic Vision Plan or Vision Plus Plan. Vision care is administered through VSP. VSP provides high quality care, and you will be able to choose the provider and eyewear that’s right for you and your budget. If you wish to have vision coverage you will need to enroll you and your dependents into either the VSP Basic Vision Retiree Plan or the VSP Vision Plus Retiree Plan during your enrollment period.
For information on your SERMA balance, contact the Intel Health Benefits Center at 877-466-9236, or online at www.intel.com/go/myben under Your Spending Account tab.
For additional information and program details see information in the Intel Pay, Stock and Benefits Handbook, Retirement Chapter.
For detailed information on the IRMP plan, see the IRMP Summary Plan Description (SPD) document or contact the Intel Health Benefits Center at (877) GoMyBen (466-9236). If you do not remember your password state the word “representative” until you reach a live agent.
You have two vision plans to choose from – VSP Basic Vision Plan or Vision Plus Plan. Vision care is administered through VSP. VSP provides high quality care, and you will be able to choose the provider and eyewear that’s right for you and your budget. If you wish to have vision coverage you will need to enroll you and your dependents into either the VSP Basic Vision Retiree Plan or the VSP Vision Plus Retiree Plan during your enrollment period.
Stock Benefit Program
Intel's stock benefit program is an important part of our employees' overall compensation and benefits package.
Some things to keep in mind when you retire from Intel:
- Stock option vesting may accelerate upon retirement, if certain criteria are met. Restricted stock unit (RSU) vesting schedules may be impacted too. Unvested RSUs will be canceled as of your last day worked.
- Review the terms and conditions and plan rules for each of the grants in your UBS stock account to understand how each of your stock grants are impacted.
- Access your online UBS Stock Account and click on the Grants/Units tab to view your stock option expiration dates. Click on the Grants/Units sub-tab called Restricted to view your RSU vesting schedule.
- Expiration and Vest dates - per your plan rules - will be updated in your stock account, typically within one week following entry of your termination date in Intel's system of record.
- Make sure to exercise your stock options before they expire. If your expiration dates fall on a U.S. weekend or U.S. holiday when the market is closed, you must exercise no later than 1/2 hour prior to the Stock Market closing, on the last trading day prior to your expiration date. Remember stock market hours of operation are based on the U.S. Eastern Time zone.
- If you retire from Intel before the end of a Stock Purchase Plan (SPP) subscription period, you will receive a refund of your SPP contributions for that period in your final paycheck. You will not receive stock or interest on SPP contributions.
- Your Intel Employee stock account with UBS will remain open for a period of 60 days after your last expiration date. At which point you may transfer your assets to a non-Intel stock account of your choice.
- You must contact UBS Financial Services Inc. with instructions for handling any assets remaining in your employee account within 18 months of your termination date. You may want to set up a personal retail account at UBS or transfer your assets to another broker. Note that country restrictions may apply, and fees associated with a retail account will become your responsibility.
- Ensure your mailing address is correct before your last day at Intel and keep Intel apprised of any change of address should you move within 18 months of your termination date by calling the Intel Global Contact Center at 1-800-238-0486. After that period of time, update your address directly with UBS.
Intel has partnered with the Mayo Clinic, a world-renowned medical group operated by the Mayo Foundation, to provide you a convenient and confidential way to understand and evaluate the state of your health. The Mayo Clinic Health Assessment is voluntary and available at no cost to you. You can use the Mayo Clinic Web site anytime during the year.
Step 1: Start with an Initial Health Check
Obtain your health check measurements from your health care provider. Your health check measurements should include cholesterol and glucose levels, as well as your height, weight, and blood pressure
Step 2: Complete the Mayo Clinic Online Questionnaire
Use your health check results to complete the online Mayo Clinic Health Assessment questionnaire at www.intel.mayoclinic.com (you will need to create a user name and password to access the site.) The assessment takes about 20 minutes. The results will be available to you online immediately in the form of a Personal Health Report.
Step 3: Review your Results
The information in your Mayo Clinic Personal Health Report will contain recommendations and directions to improve and/or maintain your health. It will outline any health risks you may have and link you to Mayo Clinic and Intel-based programs and tools to address these risks.
Your privacy is our promise
Intel understands the importance of your privacy and is committed to making sure your personal information remains private and completely confidential. You will interact with and share personal information directly with Mayo Clinic. Intel will only receive information pertaining to individual health in an aggregated and unidentified form for use in the design of health and wellness programs.
The Intel Store
The Intel Store is where you can buy any of the many new Intel logo items, purchase gift certificates and check out the service awards.
The Intel Vault is managed by Passport Unlimited. The Intel Vault program offers both local and national discounts within a single resource. The program is open to all US blue badge employees, immediate family members, and Retirees.
As a retiree, you should receive a new Intel Vault discount card in the mail. Once you receive your card, you can go online and begin shopping. You will not need to activate your card, simply enter the email address shown on your card where is says "Cardholders Login Here".
You can shop locally or online through the new Intel Vault Program. The Intel Vault program will continue to expand. Employees are invited to submit suggestions for local vendors to their email