There are certain rights and obligations for employees who are retiring or are terminated.
A converted policy is whole life insurance, a form of permanent life insurance that offers life-long protection with guaranteed premiums, a death benefit, and cash value. The insured person is billed directly by MetLife.
When your insurance ends, you may buy SLTD conversion insurance if you were insured under the College's long-term disability insurance plan for at least one year as of the date your insurance ended, you are not disabled on the date your insurance ends, you are a citizen or resident of the US or Canada, and you apply in writing and pay the first premium for SLTD conversion insurance within 31 days after your insurance ends.For more information, please read the SLTD section of the Long-Term Disability portion of the Insurance Benefits Guide.
- Annual Leave (Staff) or Banked Leave (Faculty) balance, up to 337.50 hours/45 days, at Resignation/Termination/Retirement will be paid out to the employee in final Payroll or may be rolled over to a qualifying account, such as 403(b), 457, and/or 401k.
- Your Sick Leave (SL) balance will be forfeited upon your last day of employment. However, exiting employees can donate up to 56.25 hours/7.50 days to the College Sick Leave Donation Pool: