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  2. Benefits
  3. Leaving Vanderbilt

Leaving Vanderbilt

Action Items Checklist

  1. Notify your supervisor. Exempt employees should give four weeks notice and non-exempt employees should give two weeks notice.
  2. Decide whether you want to continue your health, dental, vision or Flexible Spending Account if applicable, on a self-pay basis through COBRA. You will receive a COBRA packet from the COBRA Administrator, Empyrean. You must complete the enrollment form and return it to Empyrean by the deadline specified in your packet. If you do not submit a completed enrollment form by the specified date, you will lose your right to elect continued coverage.
  3. Contact your investment company (or companies) if you wish to request a distribution or rollover of your money in the Vanderbilt Retirement Plan. For details, please see "Retirement Benefits" below.
  4. If you will be moving, please notify People Experience of your change of address. Log in to Oracle Cloud to access and edit your personal information. You need a VUnetID and Password to use Oracle Cloud. If you no longer have a VUnetID, contact People Experience.
  5. Return any Vanderbilt property to your departmental administrator on your last day of work.

Benefits Details

Health, Dental, Vision Coverage

  • Your health, dental and vision coverage ends on the last day of the month in which you leave Vanderbilt.
  • You may choose to continue your health, dental and/or vision coverage on a self-pay basis through COBRA for up to 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.
  • A letter of credible coverage will be mailed to health plan participants after your coverage ends.

Flexible Spending Account (FSA)

  • Your contributions to your FSAs stop with your last paycheck (unless you are eligible and elect to continue contributions to your FSA under COBRA).
  • You can submit claims for expenses that you incurred on or prior to your last day of employment unless you enroll in COBRA.
  • Claims are due by April 15, following the Plan Year of participation. You can file claims for eligible expenses incurred while you were in an eligible status by the filing deadline.  You can still use the Flexible Spending Account Reimbursement Request Form and submit your claims to Fidelity by the deadline of the run-out period, which is April 15.  To obtain claim forms and review your balance you must log in to your account at Fidelity at netbenefits.com/Vanderbilt.
  • If you have a NetBenefits AccessCard for your Health Care Flexible Spending Account, the card will be deactivated the day after your last day of employment. The card will not be reactivated if you enroll in COBRA. You can file claims for eligible expenses incurred while you were in an eligible status by the filing deadline. See the Summary Plan Description for more information.

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.  Vanderbilt requires most former employees with balances less than $1,000 in the Vanderbilt University 403(b) Retirement Plan to roll their savings over to another plan or account or take the balance as a distribution. Click here to learn more.

You may contact your investment company to make an appointment to discuss the details of your account. These representatives will be able to view your account information and discuss your future distribution options with you. 

To request a distribution or rollover:

  1. Contact your investment company(ies) to request the appropriate form(s):
    • Fidelity at 800.642.7131 (once completed, send forms directly to Fidelity)
    • TIAA at 800.842.2776 (once completed, send forms directly to TIAA)
    • VALIC/AIG at 800.448.2542 (once completed, send forms directly to VALIC/AIG to upload onto SponsorFit portal) 

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 31 days of your last day of employment. Contact Vanderbilt University Benefits Department (benefits@vanderbilt.edu) or/and contact MetLife toll-free by calling 800.GETMET8, for more information.

Accrued Leave

PTO: PTO is paid out at the end of employment when the employee leaves Vanderbilt. Any accrued PTO will be paid following the university central employee's last day of employment generally in the last paycheck; accrued PTO may not be paid when employment is ended for serious misconduct under the Progressive Discipline policy. Ending employment for serious misconduct and any decision regarding payment of accrued PTO time will be determined by People Experience.

 

Legacy sick time is not paid out upon leaving Vanderbilt.

 

updated 06/30/2024