An extension of benefits is used for employees who are leaving the company permanently. Through an extension, the terminated employee maintains their benefits coverage for a predetermined amount of time. Retirement is a common reason for an extension of benefits and may also be part of a severance package or as a good-will gesture for an employee.
To extend coverage for employees who are retiring, please contact support@sterlingcapitalbrokers.com
to speak with your account manager regarding your options.