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Important Benefits Information for Employees Separating from the University
Continuation of medical, dental & prescription drug coverage through COBRA
When separating from the University your health, dental and prescription coverage continue until:
- If your date of separation is between the 1st and 5th of the month, your coverage will end the end of the month you separate employment.
- If your date of separation is the 6th or after of the month your coverage will end the end of the following month.
- Your COBRA information will be sent out to you in the mail from the benefits office upon notification of separation.
COBRA Medical/Prescription Drug Rate Sheet for STATE Monthly Active Group
Continuation of New Jersey State Health Benefits Program Insurance Under COBRA
Pension Plans
Alternate Benefit Program (ABP)
- A member who separates employment prior to 12 months of contributions is only eligible to withdraw his/her mandatory employee 5% contributions, the employer 8% is returned back to the university.
- The member does not have to withdraw funds until they attain age 70 ½.
- If you do make a withdrawal or rollover your mandatory contributions and return to public employment in New Jersey, you cannot participate in any State-administered retirement system. You will automatically be considered retired, regardless of age.
- Lump-sum cash distributions to members under the age of 55 are limited to the member's contributions and earnings only. The remaining employer contributions and earnings are only available after age 55.
Contact your investment provider for more information:
Long Term Disability ceases on date of separation.
Public Employees Retirement System (PERS) and
Police and Firemen's Retirement System (PFRS)
- • A member who has ten years or more of service credit and is not 60 years old. may apply for deferred retirement at separation or any time prior to age 60.
PERS members please see PERS Member Handbook for more information.
PFRS members please see PFRS Member Handbook for more information.
- If a member's employment is being terminated through no fault of the member (e.g. abolishment of the position, layoff, and reduction in force), the member may leave the account inactive for a maximum of 10 yrs. (5 yrs. for PFRS). Contact the Division of Pensions and Benefits for more information (609) 292-7524.
- If the member has less than ten years, the account may remain inactive for up to 2 years.
- An Application for Withdrawal needs to be completed and returned to the Campus Benefits Representative if the member wishes to withdraw their contributions.
Group Life Insurance
- Life Insurance will continue for 31 days after termination of employment.
- Eligible to convert life insurance within 31 days of termination of employment without a medical examination. Please contact Prudential Insurance Company at 1-800-262-1112. The group insurance policy numbers are as follow:
- G-14800-This is the policy number for the basic (noncontributory) group life insurance for Public Employees Retirement System (PERS), Police and Firemen's Retirement System (PFRS) and Alternate Benefit Program (ABP)
- G-13900- This is the policy number for the contributory life insurance for PERS.
Voluntary Tax Sheltered Plans and Programs
Flexible Spending Account (FSA)
- Ceases on date of separation. COBRA is available for the Unreimbursed Medical Spending Account through the remainder of the year
- Administered through Fringe Benefits Management (FBMC) 1-866-440-7150
Commuter Tax Save Program
ABP 403(b) and ACTS accounts
- Please contact the Investment Provider directly:
Supplemental Annuity Collective Trust of New Jersey (SACT)
- Please contact the Division of Pensions and Benefits 609-633-2031
New Jersey State Deferred Compensation Program (NJSEDCP)
Long Term Care (LTC) Insurance Plan
- Please contact Prudential Insurance Co. of America 1-800-732-0416
Vacation, Sick and Float time
- Any unused vacation time will be paid after your final paycheck
- Any unused sick or float holiday time is forfeited upon separation
Unemployment Benefits
Faculty and Staff
- Unemployment benefits may be available to you after you separate from the University
- For more information visit the Unemployment website
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