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Retirement

For more information, refer to the Human Resources Policy #HR-024 on the Forms and Documents page.

Note: Page 2 of the HR-024 policy recommends "contacting the Benefits Office to discuss benefit related issues and obtain the necessary notification form for retirement," however, that information is out-of-date. There is no longer a retirement notification form. You do not need to notify the Benefits Office.

Action Items Checklist:

	Notify your supervisor.
	Decide whether you want to continue your health, dental and vision benefits on a self-pay basis through COBRA.
	If you want to continue benefits, you must complete the Continuation of Benefits Form—COBRA and return the form to the Benefits Office within 60 days of your last day of employment with Vanderbilt. You can find this form on the Forms and Documents page of the Web site.
	If you have a PayFlex MaterCard health care card for the Health Care Flexible Spending Account or Health Reimbursement Account, you must destroy the card and NOT use it past your termination date. You can file claims for eligible expenses incurred while you were in an eligible employment status by the filing deadline (see below). If you use the PayFlex MasterCard past your termination date, you are responsible to repay those charges.
	Notify your investment company(ies) (contact them directly).
	TIAA-CREF 800.842.2776 or www.tiaa-cref.org
	Vanguard 800.523.1188 or www.vanguard.com
	VALIC 615.221.2541 or www.valic.com
	Fidelity 800.343.0860 or www.fidelity.com
	Set up an exit interview with Employee Relations by calling 615.322.7259.
	If you will be moving, please notify Human Resources of your change of address.
	To change your address electronically, login to Connect to HR (C2HR) and click on “Personal Profile” then “EDIT” and enter your updated information. You need a VUnetID and e-password to use C2HR. (If your VUnetID already has been terminated, you can submit a change of address via a paper form.)
	To change your address via paper form, Go to the Forms and Documents page of this Web site and find “Employee Information Form.” Complete the form and mail to: Human Resources Records Office, VU Station B #357718, 2301 Vanderbilt Place, Nashville, TN 37235-7718.
	Return your Vanderbilt key(s), pagers, ID card, and any other VU property to your departmental administrator on your last day of work.
	Depending on your age , use the Online Claims & Services page of the Social Security Web site to find information on and apply for Social Security benefits.

More Details:

Health, Dental, Vision Coverage

1. Your health, dental and vision coverage ends on the last day of the month in which you retire from Vanderbilt. You may choose to continue your health, dental and/or vision coverage on a self-pay basis through COBRA for 18 months.
   • You have 60 days to elect COBRA coverage from the date of your COBRA-qualifying event.
   • Initial payment is required within 45 days of election date in order for benefits to be provided under COBRA.
2. If applicable, explore your Medicare options within 60 days of termination of your Vanderbilt Group Health Care coverage.
3. You may wish to research supplemental health alternatives (BlueCross 65, Healthspring, AARP, etc.)

Flexible Spending Accounts (FSAs)

• Your contributions to your FSAs stop with your last paycheck.
• You can submit claims for expenses that you incurred on or prior to your last day of employment.
• Claims are due by December 31 of that calendar year.

Health Reimbursement Account (HRA)

• If you have an HRA, claims must be submitted within 30 days of your last of day of employment.

Retirement Benefits

You may request a distribution or rollover of any or all of your Vanderbilt retirement funds at any time after you leave Vanderbilt or you may choose to leave your retirement funds with your investment companies. To request a distribution or rollover:

• Contact your investment company(ies) to request the appropriate form(s).
• Complete the form(s) and submit to Vanderbilt's Office of Benefits Administration for plan administrator approval.
  • Be sure your form includes your spouse's notarized signature, if you are married.
  • Mail the form to:

    Benefits Administration

    VU Station B #357700

    2301 Vanderbilt Place

    Nashville, TN 37235-7700

• The plan administrator will approve the request and forward it within two business days to the investment company(ies). (The plan administrator will contact you if the form is incomplete).

Life Insurance

Your life insurance policy with MetLife ends on your last day of employment with Vanderbilt.

• If applicable, you might consider converting your Group Term Life within 30 days of your last day of employment. Contact MetLife toll-free by calling 800.GETMET8, for more information.

Accrued Leave

• Vacation Time (Policy #HR-005): Your accrued vacation will be paid out with your last paycheck.
• Sick Time (Policy #HR-029) If you retire from Vanderbilt after reaching the age of 62, you will be paid for up to 30 days of unused sick time. Refer to the Sick Time Policy on the Forms and Documents page for more information.
• Personal Days (Policy #HR-006):
  • Exempt staff: unused personal days are not paid at end of employment with Vanderbilt.
  • Non-exempt staff: unused personal days are paid out at end of employment with Vanderbilt.

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