Voluntary Benefits

The City of Albuquerque offers several voluntary benefits for its employees, ranging from term life insurance and long-term disability insurance to pet insurance and deferred compensation.

Deferred Compensation

Additional savings for retirement is available under Section 457 of the Internal Revenue Code.  Employees determine the biweekly contribution that is deducted before Federal Tax withholding is calculated.  Contributions may be used to purchase qualified service credit with PERA. Many investment options are available with three vendors:

• ICMA
• Nationwide
• Valic

Flexible Spending Accounts (FSA)

If you have out of pocket expenses for child or dependent care, medical supplies, eyeglasses, prescriptions or even parking expenses, you could save money by participating in our FSA program. Three separate accounts are available for Medical Expenses, Dependent Care, or Parking/Transit Expenses. The money you set aside is taken before taxes and helps to increase your net take home pay. For more information click here or visit the Basic website.

Voluntary Term Life Insurance

If you would like to purchase additional life insurance protection for you or your dependents, you may do so through CIGNA's voluntary life insurance. You must be a full-time employee and work a minimum of 20 hours per week to be eligible. This plan is a voluntary plan, meaning if you participate you are responsible for the entire cost of the premium.  More information can be by visiting the CIGNA Life Insurance website.

Long Term Disability Insurance

The long-term disability (LTD) plan pays benefits if you become disabled for an extended period of time. If you are a full-time employee and you work a minimum of 20 hours per week, you may purchase LTD insurance through CIGNA. This plan is a voluntary plan, meaning if you participate you are responsible for the entire cost of the premium. Click here or visit the CIGNA website for more information on the City's long-term disability (LTD) plan.

Short Term Disability

Becoming disabled is often an unexpected and burdensome experience, and it can happen to anyone. What if a disability interrupted your job, your income, and your financial security? How would you make your house or rent payment, or cover day-to-day expenses? It's important to consider these questions because a disability could adversely affect your well-being and your finances at a time when you should be concentrating on recovery. Click here or visit the Aflac website for additional information on the City's Short Term Disability plan.

Specified Critical Illness Insurance

Specified critical illness insurance can help provide financial protection in the event of a covered critical illness. As a supplement to our existing health insurance or disability coverage, critical illness insurance can help ease the financial impact of a sudden, life threatening event. For additional information please click here or visit the Unum website.

Whole Life Insurance

In addition to the Voluntary Term Life Insurance offered through CIGNA, the City offers supplemental Whole Life Insurance through Unum. The Unum interest-sensitive whole life insurance is designed to provide death benefits to your beneficiaries if you pass away, but it also can build cash value that you can utilize while you are still alive. For additional information please click here or visit the Unum website.

Long Term Care

Long term care has touched many of our lives. Perhaps you have a family member who has spent time in a nursing home. Or maybe you know someone who needs the regular assistance of a home health aide. When you have seen a long term care situation up close, you know the many issues that are involved. To learn more about this voluntary benefit please click here or visit the John Hancock website.

Home & Auto Insurance

Home and Auto Insurance is being offered through Travelers. For additional information regarding Home and Auto Insurance please visit the Travelers website or click here.

Legal Insurance Plan

In today's world, you are almost certain to experience life events with legal ramifications. Be protected with ARAG legal plan. For additional information regarding legal issues please visit the ARAG Legal Benefits website or click here.

Accident Insurance

In addition to voluntary Whole Life Insurance offered by Unum, the City offers Accident Insurance. For additional information regarding this option please visit the Unum Benefits website or click here.

Pet Insurance

A Pet Insurance policy helps pay for your pet's treatments, surgeries, lab fees, X-rays, and much more. VPI can provide you with peace of mind knowing you can care for your pet no matter what the cost. For additional information regarding Pet Insurance please visit the VPI Pet Insurance website.