Termination Information

Health, Dental, and Vision Insurance

  • If you have been enrolled in the UVA Health Plan, the UVA Dental Plan, or the Davis Vision Plan, your coverage will continue until the end of the month in which you terminate employment

  • Review COBRA (in resources at the bottom of this page) to see how you may extend continuous coverage; you must return all forms within 60 days of termination or receipt of the forms, whichever is later


Flexible Spending Accounts and Dependent Daycare Reimbursement Account

If you are enrolled in either of these programs, you have the following options when you terminate employment:

  • Deduct the remaining contributions from your last paycheck and continue participation until the end of the year in which you terminate employment

  • Deduct your regular monthly contribution from your last paycheck and continue participation until the end of the month in which you terminate employment

  • Continue participation until the end of the plan year as a COBRA participant

If you choose to continue with COBRA, you will be responsible for paying your current election, an account administrative fee, and the COBRA administrative fee of 2% on a monthly basis. This monthly payment will be due on or before the first of each month through the end of the current plan year. Contact the HR Service Team at 434.982.0123 for more information about each of these options.

You have until April 30 of the calendar year following your termination date to submit

  • health care expenses incurred prior to your benefit termination date
  • dependent daycare expenses incurred during the plan year in which you terminated employment for reimbursement against the coverage you had accrued at the time of termination

Retirement

Virginia Retirement System

You must decide whether to

  • leave your member contributions in place, thus retaining the service credit you have earned
  • take a refund of your member contribution account, thereby canceling your service credit

There is no time limit on making this choice. Contributions left with VRS earn four percent per year. If you do not take a refund and later return to a VRS covered position, the service you earn in your second period of employment will be added to that already in your records. If you decide to take a refund of your VRS member contribution account, please contact the HR Service Team for information on options, as well as taxes and penalties that apply.

Optional Retirement Plan

Your options may vary with the retirement plan you have chosen. Generally, you may leave your contributions with your designated retirement plan until you wish to transfer funds to another similar qualified plan or withdraw funds based on the rules of the retirement fund vendor. If you choose to withdraw funds, tax penalties may be imposed. For more information on specific rules or to initiate a withdrawal/transfer, please contact your Optional Retirement Plan vendor.

Tax-Deferred Savings Program

These contributions cease with termination of employment. You may leave your accumulated contributions with your designated plan(s) until you wish to initiate a withdrawal or transfer to another 403(b) program or to an IRA. Taxes and penalties may apply on withdrawal of these funds. Please contact your supplemental retirement vendor(s) for more information, as well as withdrawal and transfer forms.


Life Insurance

You have 31 days from the date of your termination of employment to convert your life insurance coverage to an individual policy. A medical examination is not required. The life insurance carrier determines the cost of your converted policy. If you wish to convert your life insurance, please contact the HR Service Team for the appropriate conversion form.


Disability Insurance

  • Reed Group (VRS members only) disability policy will cease upon termination of employment with the University and cannot be converted to individual coverage
  • The Standard disability policy (ORP and MCRP members only) can be converted within 31 days of your termination date by those who meet certain criteria

If you wish to convert your disability policy, please contact the HR Service Team. Otherwise, coverage ends the day you stop active work.


Other Payroll Related Information

Address Change

To receive a Form W-2 and other necessary payroll-related information, we must have your correct address on file. Please submit a corrected address to AskHR@virginia.edu.

Other Payroll Deductions

If you have authorized payroll deductions for the University of Virginia Community Credit Union and/or parking, you must contact these departments to cancel your deductions.

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