Information for Departing Employees

This web page contains general information; if you would like to discuss your personal situation, please contact University Benefits Administration at 901.678.3573 or visit us in 165 Administration Building prior to your last day of employment.

PLEASE NOTE: It is important to provide the University of Memphis with your forwarding address to ensure you receive your COBRA notification, W-2, and other information. Please notify HR Records Management or University Benefits Administration with this information.

Accrued Leave
Annual Leave: You will be paid for any accumulated but unused annual leave unless terminated for gross misconduct or payment of annual leave is excluded by your contract agreement (ex. contract coaches, grant funding exhausted). It will be paid as a lump sum on your last regular paycheck. Retiring employees have a choice of a lump sum payment or remaining on the payroll to exhaust all annual leave. A University Clearance and Separation Form must be processed to initiate leave payment.

Sick Leave: A record of accumulated sick leave is maintained by the University and may be reinstated if you return to employment with the State of Tennessee.

Transfers to Another State of Tennessee Agency
Annual and Sick Leave: If you are transferring employment to another State of Tennessee Agency (such as Southwest TN Community College, UT, or Department of Transportation) your unused annual and sick leave balances will transfer to the new agency.

Longevity: Your longevity date will be calculated by the new agency and may not be affected if there is no break in service.

Insurance: If you have a break of employment of less than 60 days, your insurance benefits (health, life and dental) will remain as is. You will not be considered a newly eligible benefits employee at the new State agency; therefore, you will not be able to change health, life, or dental plan coverages at that time.

Retirement: If you are in the Optional Retirement Plan (ORP) and transfer to another institution of higher education, you must remain in the ORP. If you transfer to another State agency not in higher education, you will join the Tennessee Consolidated Retirement System (TCRS).

Insurance Benefits
Health, Basic Life, Dental: Insurance premiums are paid a month in advance for coverage. For example, if you receive your last insurance paycheck (second biweekly check or last regular monthly check) in March, your coverage will end April 30. You should verify the date your coverage ends with a University Benefits Administration representative.

COBRA: COBRA is a federal law that allows eligible employees and/or dependents to continue their health and dental coverage for a specified period of time. As an active employee the State was paying 80% of your health insurance premium. If you elect COBRA coverage you will be responsible for 100% of the premium plus a 2% administrative charge. If eligible, the State of Tennessee Benefits Administration will mail a COBRA notification letter to your home address within 30 days from your coverage termination date. You will have 60 days from the date of the letter to elect to continue your coverage under COBRA. Please see the COBRA brochure for more details.

HIPAA: In compliance with the Health Insurance Portability and Accountability Act, the State of Tennessee Benefits Administration (BA) will mail a Certificate of Coverage to your home address if covered by health insurance at the time you leave the University. The Certificate of Coverage provides insurance coverage information for you and your dependents. Please keep this certificate for your records. You may be required to provide a copy when applying for new health insurance coverage. Please contact BA at 1.800.253.9981 or the University Benefits Administration office if you have any questions.

Life Insurance: You may convert your basic term life insurance to an individual whole life policy through Minnesota Life Insurance Company. This must be done within 30 days of the termination of coverage; Minnesota Life will mail to your home address the conversion options. If you have optional term life with Minnesota Life, or universal life with UNUM, they will notify you by mail at your home address of your continuation options. If you are enrolled in the Permaplan life insurance program, you will also be notified of your options.

Retirement
Tennessee Consolidated Retirement System (TCRS): If you are enrolled in TCRS, you must have five (5) or more years of service in order to be eligible for a monthly benefit as early as age 55. Please review your TCRS handbook for details. For employees hired on or after July 1, 1981 all retirement contributions have been made by the University; therefore, no refund is available upon separation from the University.

Optional Retirement Program (ORP): If you are enrolled in the Optional Retirement Program, the University has been contributing an amount equal to 10% of your monthly salary to Voya, VALIC, and/or TIAA. These contributions are fully vested and you may have refund options. You should contact the companies for additional information.

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