Company / SAS Family

Retirement Information

Retirement Recognition Program
Health Reimbursement Arrangement Plan (HRA)
Full Retirement Benefits
Health Care Benefits and Life Insurance

Retirement Recognition Program

  • A full-time or part-time employee is eligible for the Retirement Recognition Program when reaching his/her 55th birthday and completing at least five vested years of service.

Eligible retirees will receive the following:

  • A recognition gift certificate.
  • A retirement ID that allows the retiring employee access to SAS campuses.
  • Access to the Cary Recreation & Fitness Center, Cafes(PDF), and Work/Life Center during business hours for the retired employee and spouse/domestic partner (signed domestic partner affidavit must be on file).
  • Access to on-site services (massage therapy, car detailing, nail salon, UPS shipping, etc.)
  • Access to public SAS Training and e-Learning classes – at no cost.
  • Discounted membership to Prestonwood Country Club if openings are available.
  • Continued use of exclusive SAS Family discounts and incentives.

An employee is not eligible for Retirement Recognition if he/she is discharged from employment.

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Health Reimbursement Arrangement Plan (HRA) – A Company-funded account to help eligible retirees pay for qualifying health care insurance expenses for themselves and their eligible family members upon retirement.

  • A full-time or part-time employee is eligible for the HRA when he/she retires from SAS and meets the following criteria:
    • Age 60 or greater with 20 or more credited retiree years of service; OR
    • On or before June 30, 2008, the sum of the retiree's age and credited retiree years of service is greater than or equal to 65. A "credited retiree year of service" is any calendar year in which a full-time or part-time employee actively worked for at least six months.

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Full Retirement Benefits

  • A full-time or part-time employee is eligible for full retirement benefits if he/she meets the eligibility requirements for both the Retirement Recognition Program and the HRA as defined above.

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Health Care Benefits and Life Insurance

  • Health care benefits for the retiring employee and his/her covered dependents terminate on the last day of the month following the employee's retirement date.
    • COBRA
      The retiring employee and his/her covered dependents have the option of continuing their health care coverage under COBRA. The retiree and his/her covered dependents will have 60 days from retirement date or active coverage end date (whichever is later) to enroll. If elected, COBRA coverage can last up to 18 months.
  • Life Insurance
    • Some or all of the retiring employee's life insurance may be continued.

Retirees will be sent COBRA paperwork, life insurance and HRA (if eligible) information within 14 days of their retirement date.

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The Retirement Recognition Program and HRA benefits are subject to change, revocation, cancellation or amendment at the discretion of SAS.


E-mail the SAS Benefits Department or request assistance by phone at 919-531-9090.