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Terminating Employment

All benefit eligible employees who are terminating employment with UNC Health Care.

In general, all benefits will end on the last day of the month in which the employee separates employment. However, the Health Insurance benefit will extend through the following month if the date of separation is on or after the 16th of the month. Within 60 days from the date benefits are scheduled to end, employees will receive information from their insurance carrier(s) explaining the procedure for continuing coverage under COBRA. It is the sole responsibility of the plan administrator to notify employees about continuation of coverage.

Retirement funds contributed to the State Retirement System can be withdrawn by completing Form 5: Withdrawing Your Retirement Service Credit and Contributions. However, please note that withdrawing TSERS contributions will forfeit all retirement benefits and retirement credits accrued. Employees are not required to withdraw their retirement contributions, nor is there a time limit to do so. Questions may be directed to the Retirement System by calling 877-627-3287.

Employees enrolled in the Optional Retirement Plan(ORP) must complete the ORP 3 form regardless of whether or not you take a distribution form the plan. Your original completed form must be mailed to

Human Resource Services
Employee Benefits
211 Friday Center Drive
Chapel Hill, N.C. 27517

Employee Benefits will verify the information and forward it to UNC General Administration (Plan Administrator) for processing to the vendor of choice.

PTO, Vacation and Holiday Leave will be paid out to the employee in accordance to the Employee Leave Policy. This is typically included in the final paycheck, which is mailed to the employee’s home address.

For detailed information on the termination process, please refer to the relevant section of the policy online "Leaving UNC Health Care”.


Example
Ben’s last day of work is May 17. His Health Insurance coverage will extend through June 30, while all his other benefits will terminate May 31. He will receive his last pay check at home, and will wait for his COBRA information to continue his Health Insurance after June 30. He has decided not to withdraw his retirement contributions as he hopes to return to State employment in the future.

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