Benefits upon termination

Return completed forms (unless otherwise indicated) to VCU Human Resources. Questions? Email benefits@vcu.edu or call (804) 827-1723.

Lindsey House
600 West Franklin Street

Information for faculty

If you are terminating your employment with VCU, please carefully review the important information below, which provides instructions and forms you will need to adjust the status of your current benefits. An employment separation packet, including the forms below, will be mailed to you from VCU Human Resources. 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.

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 care conversion form (see VCU HR forms) 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.

Personal data form
Complete and return the Personal Data Form (see VCU HR forms) to let us know if you have a change of address.

Faculty exit survey
The Faculty Exit Survey form is not available online. See your separation packet for the form or contact VCU Human Resources by emailing benefits@vcu.edu or calling (804) 827-1770 to obtain the form.

For classified staff

If you are terminating employment with VCU, below is important information for your careful review and action, as needed, concerning the status of your current benefits. An employment separation packet, including the forms below, will be mailed to you from VCU Human Resources. You can also 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.

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 long term disability conversion form (see VCU HR forms) to request the necessary forms and information.

Personal data form
Complete and return the Personal Data Form (see VCU HR forms) to let us know if you have a change of address.