For Employees Leaving USC
Review your insurance coverage. Your group coverage through USC ends on the last day of the month in which you terminate.* Decide about continuing coverage. Enroll within the deadlines. If you do not act by the deadlines, you will not be able to purchase the coverage at a later date.
Medical and Dental Plans
Coverage ends on the last day of the month in which you terminate.* You may elect to continue your coverage for up to 18 months under the provisions of the federal Consolidated Omnibus Budget Reconciliation Act (COBRA). HMO participants who fully exhaust their initial 18 months of COBRA coverage may be eligible for an additional 18 months under Cal COBRA. Information will be sent to your home by the Benefits Administration office. Your election must be returned to the Benefits Administration office postmarked within 60 days from your termination date or the date of notification, whichever is later. If you do not elect COBRA within 60 days, the COBRA opportunity is forfeited. You will pay the full premium plus a 2% administrative fee.
Life Insurance
Group coverage through USC ends on the last day of the month in which you terminate.* Coverage may be converted without evidence of insurability if you apply within 31 days of termination. Forms and rates are available from your benefits office.
Accidental Death and Dismemberment Insurance
Coverage ends on the last day of the month in which you terminate.* Conversion to an individual plan must be made within 31 days of termination. Forms and rates are available in your benefits office.
Long Term Care
Coverage through payroll deduction ends the last day of the month in which you terminate.* You can continue coverage by making a direct payment to the insurance company. Your premium remains the same. Contact the carrier directly within 31 days of termination to convert to direct billing.
AFLAC Cancer Expense Protection Insurance
Coverage ends on the last day of the month in which you terminate.* You have 31 days to apply for continuation of coverage subject to AFLAC's restrictions. Call (800) 992-3522 for information.
Non-Exempt Staff Retirement Plan
If you have satisfied the vesting requirement and the present actuarial value of your benefit is less than $5,000 when you terminate employment, you will need to take action regarding your benefit. You may either receive a lump sum payment or roll the benefit over to an IRA or your new employer's retirement plan. If you do not take action regarding your benefit, we will cash out your money to you if the value is $1,000 or less. If the value is $1,001 to $5,000, we will rollover your money into an IRA. If the value is more than $5,000, you cannot receive payment or rollover the benefit but will receive retirement benefits based on its value when you retire. Call (213) 821-8106 for information.
USC Retirement Savings Program
Your contribution to the USC Retirement Savings Program will be taken from your final paycheck. Supplemental Retirement Plan contributions are not taken automatically; contact your benefits office before your final check is prepared for a calculation of how much, if any, you are eligible to contribute. Contact your investment company or your benefits office to discuss options regarding your retirement account.
Flexible Spending Accounts (FSA)
You may submit claims for eligible dependent care services incurred through the end of the calendar year in which you terminate. You will be reimbursed up to the amount remaining in your account. Health care expenses submitted for reimbursement must be incurred (i.e. the services provided) prior to your termination unless you elect COBRA continuation of your health care FSA on an after-tax basis. If you have a FSA debit card, it will be deactivated as of your termination date.
Tuition Assistance
If you leave during a semester, you will receive a pro-rated fee bill and are responsible for paying the cost of tuition for the remainder of the semester. Staff employees who have completed fifteen years of benefits-eligible service at the time they leave the university, should contact the Office of Personnel Services at (213) 821-8111 to discuss continued dependent eligibility for tuition assistance.
USC Child Care Programs
The university subsidy for child care services provided by the USC Child Care Programs will stop at the end of the month in which your employment terminates. Contact your Child Care Administrative Office at (213) 743-2446 on the University Park campus; or (323) 442-333 on the Health Sciences campus for more information.
next »
·
·
·
·
·
·
·
·
·
·
·
|
