Resignation / Termination Policies
There are certain rights and obligations for employees who resign or are terminated.
When you retire, you can continue or convert your Optional Life coverage directly through MetLife. You have the option to continue your term life insurance. Your retiree coverage will end of January 1 following your 75th birthday. You can also convert your coverage to a whole life policy, which is a permanent form of life insurance.
MetLife will mail you a conversion/continuation packet. Packets are sent via U.S. mail three to five business days after MetLife receives the eligibility file from PEBA. The packet will include instructions for your options. Call MetLife at 888.507.3767 if you do not receive their packet.
Learn more about your options when you retire in the Life insurance chapter of the Insurance Benefits Guide.
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 review the SLTD 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: