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Voluntary Colonial Life Benefits

Our benefit plans are here to help you and your family live well—and stay well. But did you know that you can strengthen your coverage even further? It’s true! Our voluntary benefits through Colonial Life are designed to complement your health care coverage and allow you to customize our benefits to you and your family’s needs.

The best part? Benefits from these plans are paid directly to you! Coverage is also available for your spouse and dependents.

You can enroll in these plans during Open Enrollment—they’re completely voluntary, which means you are responsible for paying for coverage at affordable group rates.

Accident Insurance

Accident Insurance: Colonial Life

Accident insurance can soften the financial impact of an unexpected, non-work-related accident by providing a monetary benefit to help cover unexpected costs related to treating your injuries. Benefits are paid directly to you. Coverage is also available to your spouse and dependents.

Critical Illness Insurance

Critical Illness Insurance: Colonial Life

Did you know that the average total out-of-pocket cost related to treating a critical illness is over $7,000? With critical illness insurance, you’ll receive a lump-sum benefit if you are diagnosed with a covered condition (e.g., heart attack, cancer or stroke) to pay for treatments, prescriptions, travel, living expenses and more.

Cancer Insurance

Cancer Insurance: Colonial Life 

Cancer insurance pays a cash benefit to you when a covered person is diagnosed with internal cancer. Other benefits include payments, directly to you, for hospital confinement, medical imaging, radiation and chemotherapy, immunotherapy, transportation and lodging.

Supplemental Retirement

457 Deferred Compensation & Roth IRA Plans

League City offers a voluntary 457 deferred compensation plan that can provide additional savings for retirement.

With the traditional 457 option, funds are deducted pre-tax and interest accumulates tax deferred. Withdrawals are subject to income tax.

With the Roth 457 option, funds are contributed after tax and interest accumulates tax free. The advantage to the Roth option is that all withdrawals made after age 59 ½ are not subject to income tax.

With both the 457 Plan and Roth options, your contributions will be invested in the funds that you select, and the value of your account will fluctuate based on fund performance.

You may set up, stop or make changes to your contribution amount at any time throughout the year. You can make withdrawals from your account when you leave employment, as well as during employment, subject to the City’s rules and IRS rules. Loan options may also be available.

The City is proud to offer both  the 457 Deferred Compensation Plan and Roth IRA Plan through ICMA. You may also choose to enroll in a 457 Deferred Compensation Plan and access financial planning services through Starburst Financial.

ICMA

For more information, log on to www.icmarc.org.

How to Enroll

To enroll in the 457 Deferred Compensation or Roth IRA Plan, click here. When you enroll, you must enter the plan number:

  • 457 Deferred Compensation Plan Number: 304244
  • Roth IRA Plan Number: 705882

Starburst Financial

In addition to offering a 457 Deferred Compensation plan, Starburst Financial offers the following services:

  • Comprehensive financial planning
  • Retirement planning (e.g., 401(k), Roth IRA, Traditional IRA, SEP IRA and Simple IRA)
  • Annuities (e.g., indexed, fixed and variable)
  • Pension plan distribution (e.g, lump sum vs. lifetime single/joint annuity)
  • Retirement income distribution strategies
  • Supplemental medical plan selection
  • Advanced estate planning
  • Whole life and term life insurance
  • Social Security claiming strategies
  • Medicare plan selection
  • Investment consulting and risk analysis
  • Tax-sensitive investment strategies (e.g., municipal bonds, Roth IRAs, annuities)
  • Employee benefits analysis
  • College savings plans (e.g., 592 Plan, UTMA account)
  • Legacy planning
  • Spousal protection
  • Blended family distribution strategies
  • Health insurance

For more information, go to www.starburstfinancial.com.

How to Enroll

Click here to open a 457 Deferred Compensation Plan through Ascensus.

Employee Assistance Program (EAP)

Life is full of challenges, and sometimes balancing it is difficult. We are proud to provide a confidential program dedicated to supporting the emotional health and well-being of our employees and their families. The employee assistance program (EAP) is provided at NO COST to you through UTEAP.

The EAP can help with the following issues, among others:

  • Mental health
  • Relationships or marital conflicts
  • Child and eldercare
  • Substance abuse
  • Grief and loss
  • Legal or financial issues

EAP Benefits

  • Assistance for you and your household members
  • Up to six in-person sessions with a counselor per issue, per year, per individual
  • Unlimited toll-free phone access and online resources

Life Time Fitness Program

As a League City employee, you are eligible for a Life Time Fitness gym membership. League City will contribute $30 and Life Time will contribute $15 toward your membership, for a total savings of $45 per month. In addition, as a new member you are eligible for:

  • $0 sign-up fee
  • A free, 60-minute personal training session with an expert trainer
  • $100 LT BUCK$ you can redeem at Life Time clubs for spa and fitness services

Click here to enroll. For more information on Life Time, go to www.lifetime.life.

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