Income Protection Plan

The Manager's Income Protection Plan (IPP) combines basic life and long term disability (LTD) insurance. It's a benefit available to managerial-level employees covered by the Manager’s Plan and certain employees are covered by the Commissioner’s Plan. Your IPP premium is based on which life insurance coverage level you choose, the elimination period you choose for your LTD, and your monthly salary. For an in-depth description of the IPP long-term disability benefit, review the Plan Certificate.

Manager's Life Insurance
- The state pays the full cost for employees eligible for insurance with an employer contribution.
- You choose between two coverage options:
  - Option A provides life insurance valued at 1½ times your annual salary, along with long-term disability coverage.
  - Option B provides life insurance valued at 2 times your annual salary. There is no employer-paid long-term disability coverage with Option B. You may buy LTD coverage on your own if you'd like.
Manager's Long Term Disability (LTD)
- LTD coverage gives you income when you become disabled due to an injury or illness. It pays 60% of your salary, up to a maximum of $7,000 a month.
- If you get disability payments from another source—like Social Security Disability or Minnesota State Retirement Disability—your monthly benefit from the Manager’s Income Protection Plan may be reduced.
- How soon the benefit starts to pay depends on the "elimination period" you choose. Your employer pays for coverage with a 150-day elimination period. Employees may pay an additional premium to decrease the time you wait for the benefit to start. You may choose elimination periods of 30, 60, 90 or 120 days.
- If you choose an elimination period longer than 30 days, you may decrease the wait during Open Enrollment--but only by 30 days. You must prove you are in good health to reduce the wait by more than 30 days or to make a change outside of Open Enrollment.
- If you have SEGIP LTD coverage you bought on your own before joining the Manager's IPP, that coverage ends when you enroll in the Manager's benefit.
Short-Term Disability (STD)
- If you were enrolled in short term disability (STD) prior to becoming eligible for the IPP, you may continue your STD coverages. You may not increase the amount of STD coverage after IPP coverage begins.
- New employees who are eligible for IPP may not enroll in STD coverage.
Rates
- Manager’s Life (PDF version)
- Manager’s LTD (PDF version)
- IPP Worksheet (PDF version) You can use this worksheet to calculate your IPP premium amount.