When terminating employment with VCU, it is important to understand how your benefits are affected. While many benefits are terminated with employment, others may continue for a set period of time. For more information including definitions of commonly used terms and frequently asked questions, see the Benefits Glossary and FAQ.
Note: All separating employees are encouraged to log into my.vcu.edu to update your personal contact information, including your home mailing address. See details below for how to handle benefits upon separation for different employee classes.
If you are terminating your employment with VCU, please review Key Facts About Faculty Benefits Upon Separation (PDF). Please also review the important information below, which provides instructions and forms you will need to adjust the status of your current benefits. You can also print, complete and return the forms, as applicable, from the links below.
Be sure to follow the specific instructions for completing and returning each of the forms related to your employment separation.
Health Benefits
Coverage in the state employee health benefits program terminates on the last day of the month in which eligible employment ends. Exception: Academic year faculty members who complete their contracts in May remain eligible for health coverage through August. After coverage terminates, Extended Coverage/COBRA election notices are mailed by Inspira Financial to eligible qualified beneficiaries' home addresses. These state program notices cannot be issued by VCU Human Resources and are not provided before coverage terminates. For general information about Extended Coverage/COBRA under the state health benefits program, see information from the Virginia Department of Human Resource Management.
Group life insurance coverage
You may convert your group life insurance to an individual whole life policy with the Minnesota Life Insurance Company. If you wish to convert your policy without having to complete a medical questionnaire, complete and return the Conversion of Group Life Insurance Enrollment Form within 31 days of your employment separation date.
If you are a Virginia Retirement System (VRS) participant … If you meet the age and service requirements to retire at the time you terminate employment but defer your retirement, your basic group life insurance remains in effect at no cost. A 25 percent reduction in the amount of your coverage begins on Jan. 1 of the first full calendar year after you terminate employment and continues each Jan. 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment.
If you are a VCU Optional Retirement Plan (ORP) participant … In some cases, employees continue to be covered by group life insurance after they terminate employment. If you are age 55 with at least five years of service or age 50 with at least 10 years of service, you may continue to be covered by the group life insurance program whether or not you begin a distribution from the ORP. A 25 percent reduction in the amount of your coverage begins on Jan. 1 of the first full calendar year after you terminate employment and continues each Jan. 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment. Coverage does not continue automatically. You must complete the VRS Termination Certification Form and obtain certification from VCU Human Resources. The form must be returned to VRS within 15 business days of your termination of employment.
VCU ORP and voluntary LTD plan
If you participate in the VCU Optional Retirement Plan (ORP) or voluntary long-term disability (LTD) plan through the Standard Insurance Company, you may convert your LTD plan to an individual policy within 31 days of your employment separation date. Use the Longterm Disability Conversion Form (PDF) to request the necessary forms and information.
VRS retirement contributions
If you are a Virginia Retirement System (VRS) member, you may request a refund of your retirement contributions and interest, roll them over to a qualified retirement plan or keep them with the VRS. Review the Leaving Employment page of the VRS website for more information about your options, including the tax consequences of taking a distribution, and what actions you need to take. See also the “Key Topics” and “Resources” section.
If you are terminating your employment with VCU, please review Key Facts Benefits Upon Separation University and Academic Professionals (PDF). Please also review the important information below, which provides instructions and forms you will need to adjust the status of your current benefits. You can print, complete and return the forms, as applicable, from the links below.
Be sure to follow the specific instructions for completing and returning each of the forms related to your employment separation.
Health benefits
Coverage in the state employee health benefits program terminates on the last day of the month in which eligible employment ends. Exception: Academic year employees who complete their assignments in May can remain eligible for health coverage through August and should consult with their departments' designated HR Professionals for details. After coverage terminates, Extended Coverage/COBRA election notices are mailed by Inspira Financial to eligible qualified beneficiaries' home addresses. These state program notices cannot be issued by VCU Human Resources and are not provided before coverage terminates. For general information about Extended Coverage/COBRA under the state health benefits program, see information from the Virginia Department of Human Resource Management.
Group life insurance coverage
You may convert your group life insurance to an individual whole life policy with the Minnesota Life Insurance Company. If you wish to convert your policy without having to complete a medical questionnaire, complete and return the Conversion of Group Life Insurance Enrollment form within 31 days of your employment separation date.
If you are a Virginia Retirement System (VRS) participant If you meet the age and service requirements to retire at the time you terminate employment but defer your retirement, your basic group life insurance remains in effect at no cost. A 25 percent reduction in the amount of your coverage begins on Jan. 1 of the first full calendar year after you terminate employment and continues each Jan. 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment.
If you are a VCU Optional Retirement Plan (ORP) participant In some cases, employees continue to be covered by group life insurance after they terminate employment. If you are age 55 with at least five years of service or age 50 with at least 10 years of service, you may continue to be covered by the group life insurance program whether or not you begin a distribution from the ORP. A 25 percent reduction in the amount of your coverage begins on Jan. 1 of the first full calendar year after you terminate employment and continues each Jan. 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment. Coverage does not continue automatically. You must complete the VRS Termination Certification Form and obtain certification from VCU Human Resources. The form must be returned to VRS within 15 business days of your termination of employment.
VCU Optional Retirement Plan (ORP) and voluntary long-term disability (LTD) plan
If you participate in the VCU ORP or voluntary LTD plan through the Standard Insurance Company, you may convert your LTD plan to an individual policy within 31 days of your employment separation date. Use the Long Term Disability Conversion Form (PDF) to request the necessary forms and information.
Virginia Retirement System (VRS) retirement contributions
If you are a VRS member, you may request a refund of your retirement contributions and interest, roll them over to a qualified retirement plan or keep them with the VRS. Review the Leaving Employment page of the VRS website for more information about your options, including the tax consequences of taking a distribution, and what actions you need to take. See also the “Key Topics” and “Resources” section.
If you are terminating your employment with VCU, please review Key Facts About Classified Benefits Upon Separation (PDF). Please also review the important information below, which provides instructions and forms you will need to adjust the status of your current benefits. You can print, complete and return the forms, as applicable, from the list below.
Be sure to follow the specific instructions for completing and returning each of the forms related to your employment separation.
Health benefits
Coverage in the state employee health benefits program terminates on the last day of the month in which eligible employment ends. After coverage terminates, Extended Coverage/COBRA election notices are mailed by Inspira Financial to eligible qualified beneficiaries' home addresses. These state program notices cannot be issued by VCU Human Resources and are not provided before coverage terminates. For general information about Extended Coverage/COBRA under the state health benefits program, see information from the Virginia Department of Human Resource Management.
Group life insurance coverage
You may convert your group life insurance to an individual whole life policy with the Minnesota Life Insurance Company. If you wish to convert your policy without having to complete a medical questionnaire, complete and return the Conversion of Group Life Insurance Enrollment Form within 31 days of your employment separation date.
If you meet the age and service requirements to retire at the time you terminate employment, but defer your retirement, your basic group life insurance remains in effect at no cost. A 25 percent reduction in the amount of your coverage begins on January 1 of the first full calendar year after you terminate employment and continues each January 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment.
Virginia Retirement System (VRS) retirement contributions If you are a VRS member, you may request a refund of your retirement contributions and interest, roll them over to a qualified retirement plan or keep them with the VRS. Review the Leaving Employment page of the VRS website for more information about your options, including the tax consequences of taking a distribution, and what actions you need to take. See also the “More Information" and “Resources” section.
If you have a balance of VSDP (Virginia Sickness and Disability Program) disability credits in your leave account when you separate from VRS-covered employment, you must choose to either (1) receive payment for the eligible portion of those credits; or (2) convert your disability credits to additional VRS service credit. To convert your disability credits, please contact the VCU Benefits office prior to your separation date. If you do not contact VCU Benefits in timely manner upon separation, you will receive payment for your disability credits in accordance with policy and the conversion option will not be available.
Voluntary long-term disability (LTD) plan
If you participate in the voluntary LTD plan through the Standard Insurance Company, you may convert your LTD coverage to an individual policy by completing and submitting the required conversion materials within 31 days of your employment separation date. Use the Longterm Disability Conversion Form to request the necessary forms and information.
Health benefits
Coverage in the state employee health benefits program terminates on the last day of the month in which eligible employment ends. After coverage terminates, Extended Coverage/COBRA election notices are mailed by Inspira Financial to eligible qualified beneficiaries' home addresses. These state program notices cannot be issued by VCU Human Resources and are not provided before coverage terminates. For general information about Extended Coverage/COBRA under the state health benefits program, see information from the Virginia Department of Human Resource Management.
Group life insurance coverage
You may convert your group life insurance to an individual whole life policy with the Securian/Minnesota Life Insurance Company. If you wish to convert your policy without having to complete a medical questionnaire, complete and return the Conversion of Group Life Insurance Enrollment Form within 31 days of your employment separation date.
If you are a Virginia Retirement System (VRS) participant … If you meet the age and service requirements to retire at the time you terminate employment but defer your retirement, your basic group life insurance remains in effect at no cost. A 25 percent reduction in the amount of your coverage begins on Jan. 1 of the first full calendar year after you terminate employment and continues each Jan. 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment.
If you are a VCU Optional Retirement Plan (ORP) participant … In some cases, employees continue to be covered by group life insurance after they terminate employment. If you are age 55 with at least five years of service or age 50 with at least 10 years of service, you may continue to be covered by the group life insurance program whether or not you begin a distribution from the ORP. A 25 percent reduction in the amount of your coverage begins on Jan. 1 of the first full calendar year after you terminate employment and continues each Jan. 1 until the amount of your coverage is 25 percent of the value of the natural death coverage at termination of employment. Coverage does not continue automatically. You must complete the VRS Termination Certification Form and obtain certification from VCU Human Resources. The form must be returned to VRS within 15 business days of your termination of employment.
VCU Optional Retirement Plan (ORP) long-term disability (LTD) plan
If you participate in the VCU ORP LTD plan through the Standard Insurance Company, you may convert your LTD plan to an individual policy within 31 days of your employment separation date. Use the Long Term Disability Conversion Form to request the necessary forms and information.
Virginia Retirement System (VRS) retirement contributions
If you are a VRS member, you may request a refund of your retirement contributions and interest, roll them over to a qualified retirement plan or keep them with the VRS. Review the Leaving Employment page of the VRS website for more information about your options, including the tax consequences of taking a distribution, and what actions you need to take. See also the “Key Topics” and “Resources” section.