Benefits Change Connection
Separation from IU Employment
Upon separation of IU employment, employees are no longer eligible to actively participate in the benefit plans listed below. However, participants in these plans have certain rights and privileges.
To take advantage of any residual value the benefit plans may provide, you will need to:
- Read the booklet, Participant Rights and Responsibilities Upon Transfer or Termination.
- Familiarize yourself with the opportunities available to you after your participation ceases.
- Follow-up on required actions described in the booklet sections titled "Participant Responsibilities."
Note: If you are retiring from IU employment with Retiree Status, go directly to the Retiree section of this booklet.
Customer contacts are listed in Participant Rights and Responsibilities Upon Transfer or Termination booklet.
|Basic Life Insurance||Coverage may be converted to an individual policy by employee or dependent|
|IU Tuition Benefit (formerly Fee Courtesy)||Participant may complete coursework for a semester/session|
|IU Retirement Plan (all levels)||IU contributions cease; full accumulated value is retained; cash-out or transfer is permitted but not required|
|IUSERP||IU contributions will cease. If vested, participant must take a complete distribution or roll over account from plan. If not vested, plan account will be forfeited.|
|IU 457(b) Retirement Plan||Ability to contribute ceases; full accumulated value is retained; cash-out or transfer is permitted but not required|
|IU Tax Deferred Account (formerly Tax Deferred Annuity Plan)||Ability to contribute ceases; full accumulated value is retained; cash-out or transfer is permitted but not required|
|Long-term Disability (LTD)||Employee may purchase insurance under a conversion policy|
|Medical plan||Employees and covered dependents may temporarily extend their coverage at group rates (COBRA)|
|PERF||IU contributions cease; participation continues if Annuity Savings Account balance remains invested|
|Personal Accident Insurance (PAI)||Insurance may be converted to an individual policy by employee, and in some cases a dependent|
|Separation Pay||Separation pay at the employee's regular rate of pay for certain time-off accruals.|
|Supplemental Life Insurance||Coverage may be converted to an individual policy by employee or dependent|
|Tax Saver Benefit (TSB) plan||Possible reimbursement for health and dependent care expenses|