Leaving NC State Employment

Health and NCFLEX Benefits

Coverage Period Continuation/Conversion/Portability Action Required/Contact Info
State Health Plan Termination dates between 1st and 15th of the month, coverage is effective through the last day of the month.  Ex: 3/10 term date = covered until 3/31.

Termination dates on or after the 16th of the month, coverage is effective through the last day of the following month. Ex: 3/17 term date = covered until 4/30.

Coverage can be continued for up to 18 months through COBRA provisions. The vendor will mail out COBRA information to the home address once the coverage has ended.
Dental, Vision,
Cancer Plan,
Critical Illness
NCFlex benefits will end at the end of the month in which employment ends. Ex: 3/17 term date = covered until 3/31. Coverage can be continued for up to 18 months through COBRA provisions. The vendor will mail out COBRA information to the home address once the coverage has ended.
MetLife Life MetLife benefits will end at the end of the month in which employment ends. Ex: 3/17 term date = covered until 3/31. Coverage can be continued for up to 18 months through portability provisions. Contact your Benefits Consultant to get a portability continuation form.
Supplemental
Disabilty
These benefits will end on the date that employment ends. Ex: 3/17 term date = covered until 3/17. There are no continuation provisions for this plan. No action is required.
State Provided
Disability Plans
These benefits will end on the date that employment ends. Ex: 3/17 term date = covered until 3/17. There are no continuation provisions for this plan. No action is required.

*If already approved to receive disability benefits, contact Leave Administration at 919-515-2151.

Hyatt Legal Plan Hyatt benefits will end at the end of the month in which employment ends. Ex: 3/17 term date = covered until 3/31. Coverage can be continued, but must be paid in a lump sum for one full year. Contact Hyatt Legal directly to continue coverage by calling 1-800-821-6400.

Flexible Spending Plans

Coverage Period Continuation/Conversion/Portability Action Requires/Contact Info
Healthcare Flex
Spending
The use of this benefit ends on the last day of employment. There is a continuation provision by submitting after-tax payments to the flex spending vendor. The vendor will mail out COBRA information once coverage has ended.
Dependent Care Flex
Spending
The use of this benefit ends on the last day of employment. There is a continuation provision by submitting after-tax payments to the flex spending vendor. The vendor will mail out COBRA information once coverage has ended.

Mandatory Retirement Plans

Vesting Withdrawal/Rollover Action Needed/Contact Info
Teachers’ and State Employees’ Retirement System (TSERS) Being vested in the Teachers’ and State Employees’ Retirement System means that at some point in the future, a participant will be eligible for both a monthly, lifetime retirement benefit as well as health insurance. Depending on the amount of creditable service, leaving contributions in the TSERS account may be a wise choice. There is no minimum account balance requirement and contributions continue to earn interest, currently 4% compounded annually. You can leave your contributions in TSERS and keep all the creditable service you earned to that date or withdraw/rollover contributions (and interest, if vested).

A withdrawal or rollover of contributions will result in losing accumulated service credit, the death benefit and Disability Income Plan eligibility. At the point of withdrawal, state and federal taxes are assessed, as well as a 20% penalty if you are under the age of 59 1/2. Taxes and penalties are avoided if the account is rolled to a qualified plan.

If a withdrawal or rollover is processed and you return to NC state government service at a later date, previously withdrawn accounts can be purchased after contributing to TSERS for 5 years. Furthermore, a return to service within 5 years of the termination date results in a reinstatement of the employee’s sick leave balance.

TSERS Handbook (refer to pages 6-7)

To leave contributions, no action is required.

To withdraw or rollover contributions, form 5-Application for Refund of Retirement Contributions is required. (go to link above and search under the “Contributions or Credit Withdrawal Forms”)

ORBIT

 

 

 

Optional Retirement
Plan (OPR)
Optional Retirement Program vesting occurs after 5 years of plan participation. On separation from service, participants may receive a lump sum payout or monthly annuity distributions. Retiree health benefits are included only if the participant elects a monthly annuity distribution option.

If separation from employment occurs prior to being vested, 100% vesting in the ORP employer contribution occurs provided all of the following criteria are met.

  • Your new employer is a higher education institution that sponsors a substantially similar or “like” retirement plan, and
  • The successor plan offers a “like retirement plan” that is underwritten by one of the four carriers currently underwriting the ORP benefit and
  • You begin participation in the successor plan as your “core retirement plan” within 12 months following your termination of employment with NC State
You can leave your account balance in the ORP until you begin receiving a retirement benefit under one of the various payment options available to you.

As an alternative, under the ORP your retirement benefit is portable.

You may transfer or roll over your benefit into an
individual retirement account (IRA) or the qualifying
plan of your new employer, if it accepts rollovers.
However, remember that if you withdraw, transfer or roll over your entire ORP account, you forfeit your right to retiree group coverage under the State Health Plan.

Keep in mind that if you withdraw money from the ORP before age 59½ without properly making a direct transfer or rollover into an IRA or other qualified plan, you will be subject to tax penalties.

UNC ORP Plan (refer to pages 6-8)

To leave contributions, no action is required.

To withdraw, rollover ORP accounts, or participate in similar plan with another education institution complete form ORP3  and return it to the Benefits office by fax (919-513-2528) or mail (Campus Box 7210, Raleigh, NC 27695) by your separation date.

To consult with a plan advisor:

Fidelity: Eric Svenson at 919-452-6980

TIAA: Rodney Pettus at 919-687-5239

Medicare and Retiree Health Insurance 

State Health Plans For Medicare Retirees or contact your Benefits Consultant for more information.
Age 65+ and not going immediately to a new employer sponsored plan?  Enroll in Medicare Part B.

Phased Retirement Program

If exiting the Phased Retirement, please contact Joe Williams at 919-515-4318 or jpwillia@ncsu.edu

Voluntary Supplemental Plans

On termination of employment, contributions to supplemental retirement plans are no longer permitted; however, if similar plans are offered by other employers it is possible in some cases, that contributions may be resumed with the new employer’s plan. Contact the supplemental retirement plan to inquire further.

UNC 403 (b) https://benefits.hr.ncsu.edu/retirement-plans/unc-403b-plans-fidelity-and-tiaa/ Fidelity: Eric Svenson at 919-452-6980

TIAA: Rodney Pettus at 919-687-5239

UNC 457 Plans https://benefits.hr.ncsu.edu/retirement-plans/unc-457-plans-fidelity-and-tiaa/ Fidelity: Eric Svenson at 919-452-6980 

TIAA: Rodney Pettus at 919-687-5239

NC 401 (k) Plan https://benefits.hr.ncsu.edu/nc-401k-plan/ Prudential: Christy Kelly 919-602-8226
NC 457 Plan https://benefits.hr.ncsu.edu/nc-deferred-compensation-plan-457/ Prudential: Christy Kelly 919-602-8226

 

Leave Balances

Payout/deductions Transferable to other state agency Eligibility Action Needed/Contact Info
Annual Leave (SHRA, EHRA) SHRA: Accumulated annual leave will be paid in a lump sum the month after termination.  Leave for retirees will be paid out in the month of retirement. However, payment for accumulated leave must not exceed 240 hours.

EHRA: Accumulated annual leave will be paid in a lump sum the month after termination.  Leave for retirees will be paid out in the month of retirement.  However, payment for accumulated leave must not exceed 240 hours.  *See below for employees employed 24 months or less

Based on new agency rules. SHRA, EHRA (9 month faculty do not earn Annual Leave) Ensure all time and leave is approved in WolfTime before the termination date.

Leave beyond the 240 hours that will be paid can be donated to the shared leave program PRIOR to termination date. Contact your Benefits Consultant for more information.

Post Doc Annual Leave Unused annual leave will not be paid out when the postdoc appointment ends and will not be converted or carried forward if the postdoc subsequently accepts a regular EHRA or SHRA position at NC State University. No Post Doc No action is required
Sick Leave Not paid out upon separation. Will be reinstated if employee returns within 5 years to a State of North Carolina agency or UNC System school. Based on new agency rules. SHRA, EHRA (9 month faculty do not earn Sick Leave) Ensure all time and leave is approved in WolfTime before the termination date.
Adverse Weather Outstanding balances due will be deducted from final leave payout or salary payment. No SHRA, EHRA, Post Docs Ensure all time and leave is approved in WolfTime before the termination date.
Bonus Leave Bonus Leave balances will be paid out in addition to regular Annual Leave the month after termination.  Leave for retirees will be paid out in the month of retirement. Bonus Leave may be applied to negative leave balances. Based on new agency rules. SHRA, EHRA, (Post Doc employees and 9 month faculty do not earn bonus leave) Ensure all time and leave is approved in WolfTime before the termination date.
Special Bonus Leave Not paid out upon separation. Based on new agency rules. SHRA, EHRA, Post Docs Ensure all time and leave is approved in WolfTime before the termination date.
Civil Leave Not paid out upon separation. Based on new agency rules. SHRA, EHRA, Post Docs Ensure all time and leave is approved in WolfTime before the termination date.
Community Service, Literacy & Tutoring/Mentoring Leave Not paid out upon separation. Based on new agency rules. SHRA, EHRA, Post Docs Ensure all time and leave is approved in WolfTime before the termination date.

 *EHRA Employees of 24 months or less

The amount paid to an EHRA employee who has been employed an aggregate of 24 months or less in SHRA or EHRA positions by one or more State or local governmental agencies is equal to one day for each month worked less the number of days of annual leave taken during the employment period. POL 05.15.01

Wolfpups-Bright Horizons

An employee of NC State University who has a child in the WolfPups Bright Horizon Child Care Center who leaves NC State may continue enrollment at the center for the child(ren) but must pay a community tuition rate.

Tuition Waiver

A participating employee who does not continue in an eligible employment status throughout the entire semester during which the tuition waiver has been requested, and —

  1. Who wishes nonetheless to continue their course enrollment, will become responsible for the full amount of the in-state or out-of-state tuition and fees for the total number of credit hours, which will be charged to the student’s/employee’s account, OR
  2. Who withdraws from their course enrollment immediately coincident with the discontinuation of their eligible employment status, will not be held responsible for the tuition and fees.

Tuition Waiver Info