Terminating Your Employment
When your employment ends, you should provide appropriate notice and assist your administrative unit in the transition process: turn in keys, return library books and pay any fines, return University charge cards, cancel computer access. The administrative assistant, or the appropriate designee, will initiate the Checkout Procedure. All separating employees, and those on an approved leave of absence with/without pay for 30 days or longer, should complete the checkout process.
NOTE: A Termination/Retirement Form must also be completed and submitted to HR AD.10 if the employee is terminating.
Under federal law, if you or your qualified beneficiary lose benefits you may continue your coverage in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). COBRA coverage gives Plan Participants the opportunity to continue the same health care benefits and options they were enrolled in before their qualifying event occurred. The coverage is subject to all of the same deductibles, exclusions, limitations, and other provisions of the plan. UT insurance coverage terminates the end of the month in which you terminate employment or become ineligible. For a COBRA application, contact your Benefits Rep.
Separated employees who are vested Teacher Retirement System of Texas(TRS) members may leave their accounts intact. When a separated, vested member reaches retirement eligibility, the member should contact TRS. Please be aware, that if a vested member separates employment and withdraws TRS funds, retirement eligibility is affected. However, once all TRS service is ended, a member may withdraw TRS funds. To withdraw funds, complete a TRS6 refund form and submit it to HRM, AD10.
You can defer your unused annual leave payment into retirement savings if you have a UTSaver 457(b) DCP account in place before you leave UT employment. Before your last day on the payroll, inform your Benefits Rep that you wish to deposit all or part of your annual leave payment into an existing or new UTSaver 457(b) DCP account. Read UT System's Q & A on this program.
If you are terminating employment and are not benefits eligible, the administrative assistant, or the appropriate designee, should initiate the Checkout Procedure so that your final paycheck may be cleared.
Last Updated: October 8, 2012