Benefits When Leaving the University of Alaska
Leaving the University of Alaska
Whether retiring or moving on to life's next adventure, this page is designed to outline all benefit information as employees prepare to leave UA.
Questions?
If there are any questions on these topics, or if more discussion is needed, please
reach out to UA Benefits at ua-benefits@alaska.edu or (907) 450-8242.
Table of Contents
- Retiring from the University
- Separating from the University (Not Retiring)
- Continuing Medical, Dental, and Vision Coverage
- Continuing Flexible Spending Accounts (FSAs)
- Continuing Health Savings Accounts (HSAs)
- Accessing Retirement Accounts (if not immediately retiring)
- Continuing UA Paid Basic Life Insurance and Voluntary Insurances
- Terminal Leave & Unused Leaves
- Short-term and Long-term Disability
- Employee Assistance Program (EAP)
- Other Items to Note
Congratulations! To begin the retirement process, please follow the three steps listed
below. It is recommended that current employees start this process about 60-90 days prior to their intended retirement date.
Retiring from Public Employees Retirement System (PERS) or Teachers Retirement System (TRS)
Call the DRB at 1-800-821-2251 | Call Empower at 1-800-232-0859
Defined Benefit (DB) - Start at least 120 days before retirement
- Defined Benefit (DB) plans include PERS Tier I, II, III, and TRS Tier I and II.
- PERS and TRS DB members are eligible to retire and receive monthly benefits when vested and at retirement age, or by having met the minimum service requirements. Contact the DRB to confirm eligibility.
- DRB provides a Retiree Net Pay Estimator to provide an estimate of an employee's net monthly benefit in retirement.
- Current employees planning to retire from PERS or TRS DB must reach out to the Division of Retirement and Benefits (DRB) at least 120 days prior to the planed retirement date.
- Retirement from PERS or TRS DB is always begin on the first of the month following last day worked.
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Information about retiring from a PERS or TRS DB plan can be found in the PERS DB Tiers I - III Handbook or the TRS DB Handbook - Tier I and II.
Defined Contribution (DC) - Start at least 60 days before retirement
- Defined Contribution (DC) plans include PERS Tier IV and TRS Tier III.
- Former employees must be separated from all employment for at least 60 days prior to taking any action on a PERS or TRS DC account.
- Confirm your vesting status with the DRB.
- Per IRS guidelines, withdraws from a PERS or TRS DC plan can begin with the member is age 59.5. Withdraws prior to age 59.5 may face additional tax penalties for early withdraw.
- Discuss your financial assets and retirement plan with a financial planner. Financial planners can help you map out and prepare for your retirement from a PERS or TRS DC plan.
- Current PERS or TRS DC employees planning to retire must reach out to Empower Retirement at least 60 days prior to the planed retirement date.
Retiring from Optional Retirement Program (ORP)
- Start planning with your financial advisor at least 60 days in advance.
- Former employees must be separated from all employment with UA for at least 45 days prior to taking any action on the ORP account. Additionally, current employees can withdraw from their ORP if they are (1) over the age of 60 in a non-participating position (i.e. temporary) or (2) over the age of 70.5 in any position.
- Per IRS guidelines, withdraws from the ORP can begin with the member is age 59.5. Withdraws prior to age 59.5 may face additional tax penalties for early withdraw.
- Members of the ORP must reach out to their fund sponsor(s) directly (TIAA, Fidelity, Corebridge, or Lincoln). Fund sponsors will provide all paperwork and as assist with questions on the account(s).
- Once the paperwork is completed, submit to UA Benefits by fax at (907) 450-8201 or by email to ua-benefits@alaska.edu. Be sure to only include the last 4 digits of your social security number if sending by email (or password protect the document and send the password in a separate email). Call UA Benefits at (907) 450-8242 with any questions.
- Review vesting status in by logging into UAOnline and going to “Employee (Upgraded)” > “UA Optional Retirement Plan/Pension Vesting Progress” in the quick links on the right of the page.
Rehired Retiree - Bona Fide Retirement
Employees who are re-entering the workforce after retirement from a PERS or TRS plan with the State of Alaska Division of Retirement and Benefits must meet the bona fide termination regulations.
- Former employees who have retired from PERS or TRS cannot return to work in any capacity with the same employer from which they retired for at least 6 months if under 62 years old at retirement or 60 days if over 62 years old at retirement.
- There can be no pre-arranged return to work agreement - either written or verbal.
Former employees who have retired from PERS or TRS and are returning to the workforce, please reach out to the DRB at 1-800-821-2251. The DRB also provides information on bona fide retirement resources on their website.
University of Alaska Pension Plan
This account contains University funds only. This account is vested when after 3 calendar years of active employment in a participating
position. Employees should be aware that there may be certain taxes and penalties
that could apply if the age requirements are not met for retirement (59.5). Employees
should contact their fund sponsor for options regarding this account.
If an employee is participating in a voluntary 403(b), they must contact their fund sponsor for options regarding this account. Employees should be aware that there may be certain taxes and penalties that could apply if the age requirements are not met for retirement (59.5 for 403(b)). Employees should ask the fund sponsor about any restrictions or penalties they might have regarding distributions.
Voluntary 457(b) - Executives Only
If an executive is participating in a voluntary 457(b), they must contact TIAA at
1-800-842-2252 for options regarding this account and any tax implications that may
apply.
Health Savings Account (HSA)
This account belongs to employees. It is theirs to keep and all contributions will
remain in the account when an employee separates. Employees can use these fund in
retirement for qualified medical expenses or even use it as a general retirement account
after age 65. Be sure to review the rules and regulations on this account with Bank
of America or a financial advisor before making financial decisions as tax implications
may apply.
Employees who are leaving the University but are not retiring should follow the steps
below. It is recommended that current employees start this process about 2 weeks prior to their intended separation date.
When employees leave the University, they are provided with options to continue their medical, dental, and vision coverage through COBRA. This section outlines the different methods in which a former employee can either continue their UA coverage for themselves and/or their dependents as well as considerations to obtain coverage elsewhere.
The University has the following options for medical, dental, and vision coverage:
Locating Coverage
Employees can confirm what plan(s) they are enrolled in by logging into UAOnline and clicking on "Employee (Upgraded)" > "Benefits" > "Current Summary" > "Select."
Continuing Coverage with COBRA
Former employees have the option to continue their UA coverage for themselves and/or
their dependents through COBRA. COBRA coverage is a continuation of the UA plan that
was in place during employment. This means COBRA coverage can be extended to dependents
who were on the plan as of the former employee's last day worked.
- TaxSaver manages our COBRA plan. They can be reached at (888) 602-6272.
- Former employees have 60 days from their last day worked to enroll in COBRA coverage.
- COBRA applications are required to be sent US Mail and will be sent about 2 weeks after the last day worked. If a quicker turn-around is needed, please email ua-benefits@alaska.edu with a UA ID and valid email address and we can request TaxSaver email the application.
- Monthly COBRA Rates (July 1, 2023 - June 30, 2024)
Purchase an Individual Policy from Premera
Former employees may have the option of purchasing an individual policy from Premera
Blue Cross within 31 days of their coverage end date. If interested in an individual
policy, contact Premera Blue Cross directly at 1-800-364-2982 or visit Premera's website.
Purchase a Policy from the Marketplace
Separating from the University is considered a Qualifying Life Event and former employees
can purchase a policy through the Marketplace. More information about the plans offered
and associated costs can be found at www.healthcare.gov. Former employees have 60 days from the date University coverage ends to sign up
for a policy through the Marketplace.
Enroll with New Employer (or on Spouse's Employer's Plan)
Former employees who have accepted a position with a new employer may enroll in their
new employer's coverage pending eligibility. The University does not have information
on other employer benefits. All questions regarding coverage at a new employer must
be directed to that employer.
Retiring with PERS or TRS Retirement Plans
Employees who are retiring from PERS or TRS, please contact the Division of Retirement
and Benefits (DRB) for health care options at 1-800-821-2251. The ORP does not have
a medical benefit.
Coverage Ends Dates
Medical, dental, and/or vision coverage ends at the end of the pay period that contains the employee's last day worked. Review the chart of pay periods to see when coverage will end. If there are any questions about coverage end dates, please email ua-benefits@alaska.edu or call us at (907) 450-8242.
Reoccurring Services
Employees who participate in recurring services - such as mail order prescriptions - must update these services before the coverage end date. This ensures that pharmacies do not fill prescriptions on an expired pharmacy plan.
Who are our vendors?
Premera manages our medical and dental plans. Premera can be reached by calling 1-800-722-1471. VSP manages our vision Plans. VSP can be reached at 1-800-877-7195. Employees who are wanting COBRA information should reach out to TaxSaver at 1-800-328-4337.
Employees who leave the University while enrolled in a Flexible Spending Account (FSA) may have the option to continue their FSA through COBRA depending on the type of account they are enrolled in.
The University has the following options for FSA coverage:
Locating Coverage
Employees can confirm what plan(s) they are enrolled in by logging into UAOnline and clicking on "Employee (Upgraded)" > "Benefits" > "Current Summary" > "Select."
Health Care FSA
Coverage Ends
Coverage for the Health Care FSA ends at the end of the pay period that contains the
employee's last day worked. Reimbursement from the account must be for services that
were rendered during employment. Services rendered after employment has ended cannot
be reimbursed from the account.
Continuation Options
Former Employees have the option to continue their Health Care FSA on a post-tax basis
via COBRA. If eligible, UA's COBRA TaxSaver TaxSaver - will provide information on
the Health Care FSA in their COBRA application packet.
Limited Purpose FSA
Coverage Ends
Coverage for the Limited Purpose FSA ends at the end of the pay period that contains
the employee's last day worked. Reimbursement from the account must be for services
that were rendered during employment. Services rendered after employment has ended
cannot be reimbursed from the account.
Continuation Options
Former employees have the option to continue their Limited Purpose FSA on a post-tax
basis via COBRA. If eligible, UA's COBRA TaxSaver TaxSaver - will provide information
on the Limited Purpose FSA in their COBRA application packet.
Dependent Care FSA
Coverage Ends
Coverage for the Dependent Care FSA ends at the end of the pay period that contains
the employee's last day worked. Reimbursement from the account must be for services
that were rendered during employment. Services rendered after employment has ended
cannot be reimbursed from the account.
Continuation Options
There are no options to continue the Dependent Care FSA.
Coverage End Dates
All FSA coverage will end at the end of the pay period that contains the employee's last day worked for the University. Reimbursable services must have occurred during employment to be charged to these accounts. Review the chart of pay periods to see when coverage will end. If there are any questions about coverage end dates, please email ua-benefits@alaska.edu or call us at (907) 450-8242.
Who is our vendor?
All of our FSAs are managed by ASIFlex. ASIFlex can be reached at 1-800-659-3035. Employees who are wanting COBRA information on their FSAs should TaxSaver to TaxSaver at 1-800-328-4337.
Employees who leave the University while enrolled in a Health Savings Account (HSA) keep the account in full. Any funds contributed to the HSA while employed remain in the account for former employees to use for qualified purchases at any time after separation.
The University has an HSA in conjunction with the HDHP medical coverage.
Locating Coverage
Employees can confirm what plan(s) they are enrolled in by logging into UAOnline and clicking on "Employee (Upgraded)" > "Benefits" > "Current Summary" > "Select."
Continue to utilize HSA for future eligible reimbursements
HSAs are employee-owned. This means when employees leave, they still have access to
all funds they contributed while employed. These funds can be used after separation
to cover qualified expenses. While contributions to an HSA are only allowed when enrolled
in an IRS qualified High Deductible Health Care Plan (HDHP), former employees can
use the funds in the HSA at any time while on any plan.
Roll over HSA into another eligible HSA
Former employees may consider rolling over their UA HSA into another qualified HSA.
Leave the funds in the HSA
Former employees can leave their funds in their UA HSA. There is a small administrative
fee ($2.50) per month to maintain the account with Bank of America. Remaining funds
can be invested in the market (if the balance is over $1,000) and the account can
be kept clear through to retirement. Review the retirement section of this website to learn more about how the HSA can work in retirement.
How to Continue Coverage
The HSA is employee-owned. Former employees can continue to use their HSA for eligible reimbursements even after separation.
Coverage End Dates
There are no coverage end dates for the HSA. This is an employee-owned account.
Who is our vendor?
Our HSAs are managed by Bank of America. Bank of America can be reached by calling the number on the back of the HSA debit card.
Employees who leave the University have a few options to consider with regards to their retirement accounts. There are two types of contributions on most of the accounts - employer contributions and employee contributions. Employees are automatically vested in any contributions they make to their retirement accounts. Employer contributions follow a specific vesting schedule depending on the account. Each account requires the employee be separated for a certain amount of time before taking any action on the account:
- PERS/TRS Defined Contribution require employees be separated from all employment in the PERS/TRS system for 60 days.
- ORP, UA Pension, 403(b) and 457(b) require former employees be separated from all employment at UA for 45 days.
The University has the following retirement accounts:
Locating Coverage
Employees can confirm what plan(s) they are enrolled in by logging into UAOnline and clicking on "Employee (Upgraded)" > "Benefits" > "Current Summary" > "Select."
Public Employees Retirement Plan (PERS) Tiers I, II, III / Teachers Retirement Plan
(TRS) Tiers I, II (Defined Benefit Plans with the State of Alaska)
Employees who are not retiring may consider the following actions on their PERS or
TRS Defined Benefit accounts.
- Leave the account untouched until retirement. Any future PERS or TRS employment with another qualified employer will add to the total service credit for these retirement accounts.
- Request a distribution of employee contributions 60 days after separation (employer contributions are not refunded). Before requesting a distribution, employees must consider any and all implications of withdrawing funds from the plan (tax implications, future PERS/TRS service credit implications, spousal consent, etc). Employees are encouraged to contact the Division of Retirement and Benefits (DRB) at 1-800-821-2251 to discuss. UA is not qualified to provide financial advice of this nature.
PERS IV / TRS III (Defined Contribution Plans with the State of Alaska)
Employees who are not retiring may consider the following actions on their PERS or
TRS Defined Contribution accounts. These accounts are managed by Empower Retirement.
- Leave the account untouched until retirement. Any future PERS or TRS employment with another qualified employer will add to the total service credit for these retirement accounts.
- Transfer any vested funds to another qualified account (such as another employer’s plan or an IRA) 60 days after separation.
- Request a cash distribution of vested funds (both employee and employer contributions, if vested) 60 days after separation. Before requesting a distribution, employees must consider any and all implications of withdrawing funds from the plan (tax implications, future PERS/TRS service, spousal consent, etc). Employees are encouraged to speak to a financial advisor. UA is not qualified to provide financial advice of this nature.
Optional Retirement Plan (ORP) and/or UA Pension Plan*
Employees who are not retiring may consider one of the following actions on their ORP and/or UA Pension Plan accounts.
- Leave the account untouched until retirement.
- Transfer any vested funds to another qualified account (such as another employer's plan or IRA) 45 days after separation.
- Request a cash distribution of vested funds (both employee and employer contributions, if vested) 45 days after separation. Before requesting a distribution, employees must consider any and all implications of withdrawing funds from the plan (tax implications, spousal consent, early withdrawal penalties, etc). Employees are encouraged to speak to a financial advisor. UA is not qualified to provide financial advice of this nature.
Voluntary 403(b)
Employees have the option of participating in a Voluntary 403(b) and can contribute on either a tax-deferred basis or a post-tax Roth basis. Employees who are not retiring may consider one of the following action son their voluntary 403(b).
- Leave the account untouched until retirement.
- Transfer any vested funds to another qualified account (such as another employer's plan or IRA).
- Request a cash distribution. Before requesting a distribution, employees must consider any and all implications of withdrawing funds from the plan (tax implications, spousal consent, early withdrawal penalties, etc). Employees are encouraged to speak to a financial advisor. UA is not qualified to provide financial advice of this nature.
Voluntary 457(b) - executives only
Executives have the option of participating in a Voluntary 457(b) with TIAA. Employees who are not retiring may consider one of the following action son their voluntary 457(b).
- Leave the account untouched until retirement.
- Transfer any vested funds to another qualified account (such as another employer's plan or IRA).
- Request a cash distribution. Before requesting a distribution, employees must consider any and all implications of withdrawing funds from the plan (tax implications, spousal consent, early withdrawal penalties, etc). Employees are encouraged to speak to a financial advisor. UA is not qualified to provide financial advice of this nature.
* If a non-vested employee who participates in the ORP and/or the UA Pension Plan leaves the University and returns to a benefit-eligible position with one year of separation, vesting will continue where the employee left off. If a non-vested employee leaves the University and does not return within one year of separation, the three year vesting schedule will start over.
How to locate retirement account(s) and check on vested status
Employees can confirm what retirement plan they are in by logging into UAOnline and clicking on "Employee Services" > "Benefits and Deductions" > "Retirement Plans."
To check vesting...
- PERS and TRS Defined Benefit members should call the DRB at 1-800-821-2251.
- PERS and TRS Defined Contribution members should call Empower at 1-800-232-0859.
- ORP and UA Pension Plan members can log into UAOnline and click on "Employee (Upgraded)" > "UA Optional Retirement Plan/Pension Vesting Progress" in the quick links on the right.
Who are our vendors?
We have several retirement vendors depending on the plan. PERS and TRS Defined Benefit Plans are with the State of Alaska. PERS and TRS Defined Contribution Plans are with Empower Retirement. ORP and the UA Pension Plan have four (4) vendors: TIAA, Fidelity, Lincoln, and Corebridge.
Employees who leave the University may be able to convert their employee coverages to personal policies depending on the plan enrolled in.
The University has the following options for Voluntary Insurances:
Locating Coverage
Employees can confirm their life insurance and AD&D enrollment by logging into UAOnline and clicking on "Employee Services" > "Benefits and Deductions" > "Miscellaneous."
To confirm Corestream benefits, log into Corestream and click on "Enrolled Benefits" in the tool bar in the upper right. (Pet insurance will not show up here. Log into ASPCA to locate pet insurance.)
To confirm MASA benefits, log into Paylogix and confirm coverage on the main dashboard.
Life Insurance
Coverage Ends
Both Basic and Supplemental Life Insurance for employees and/or their family members
will end on the employee's last day of work in an eligible position.
Continuation Options
Former employees have the option to continue Basic term life policy and/or Supplemental
Life Insurance by porting or converting the policy to an individual one. Premiums
are paid directly to Securian Financial and coverage is issued with no medical examination
as long as former employees apply for this conversion within 31 days of their last
day worked. Premiums for a personal policy may be higher than those paid by active
employees. Log into Securian's webpage to review options, calculate rates, and obtain forms. To login, please use the policy
number and key access below.
Policy Number: 70229
Access Key: uofak
Accidental Death & Dismemberment (AD&D)
Coverage Ends
AD&D coverage ends on the employee's last day of work in an eligible position.
Continuation Options
There are no options to continue AD&D.
Corestream Benefits
Coverage Ends
If separating between the 1st and the 15th of the month, coverage will end at the
end of the month in which the employee separates. If separating between the 16th and
the last day of the month, Corestream coverage(s) will end at the of the following month in which an employee separates.
Continuation Options
Employees will receive a notice from their vendor to continue coverage through direct-bill.
The process varies between vendors. If there are questions, please reach out directly
to the vendor that manages the elected coverage(s).
MASA Air and Ground Ambulance Benefits
Coverage Ends
MASA coverage will end at the end of the month in which an employee separates.
Continuation Options
There are no options to continue the employee plans provided by MASA; however, a personal
policy may be purchased. Please reach out to MASA at 1-800-450-6730 directly to discuss.
Coverage End Dates
Coverage for Life Insurance and AD&D will end on the employee's last day of work. Coverage under Corestream varies (see left) and coverage under MASA will end at the end of the month in which an employee separates.
Who are our vendors?
All Life Insurances and AD&D is managed by Securian. Depending on the plan an employee is enrolled in for Corestream, the vendor could be the Hartford (accident,critical illness, hospital indemnity), LegalShield, AllState, or ASPCA. MASA Air and Ground Ambulance is managed by MASA.
Employees who participate in Annual Leave will receive a payout on their unused annual leave up to 240 hours.
The University has the following leave options:
Locating Current Time Off Balance
Employees can confirm their time off balances by logging into UAOnline and clicking on "Employee Services" > "Time Off Current Balances and History."
Staff
Annual Leave
Annual leave is paid out on an employees final paycheck up to a maximum of 240 hours.
Personal Holiday Leave
Personal Holiday Leave is not paid out.
Sick Leave
Sick leave is not paid out and is only transferable to another employee in certain
cases (see donating sick leave to the right).
Parental Leave
Parental leave is not paid out and is not transferable to another employee.
Faculty
Faculty Time Off (FTO)
FTO is not paid out.
Sick Leave
Sick leave is not paid out and is only transferable to another employee in certain
cases (see donating sick leave to the right).
Parental Leave
Parental leave is not paid out and is not transferable to another employee.
Terminal Leave
Terminal annual leave can be used if approved by an employee's immediate supervisor. This is leave used up to, and including, an employee's last day of work. Terminal sick leave can only be used with approval by the Chief Human Resources Officer (CHRO). No biweekly leaves accumulation will occur while using terminal leave. Terminal leave does not count toward PERS/TRS retirement service and no employer or employee contributions will be made to PERS/TRS/ORP or the UA Pension Plan accounts when using terminal leave.
Donating Sick Leave
Employees can donate sick leave to another employee on approved Family Medical Leave (FML) who is otherwise eligible for the Leave Share Program. Donating employees must be an active employee at the time the donation is used. Please be sure to donate well in advance of any separation date.
The University has the following Short- and Long-term Disability options:
Short-term Disability
Coverage Ends
Short-term Disability coverage ends on an employee's last day worked.
Continuation Options
There are no continuation options for Short-term Disability.
Long-term Disability
Coverage Ends
Long-term Disability coverage ends on an employee's last day worked.
Continuation Options
Former employees may be eligible to convert their Long-term Disability insurance coverage
to an individual policy with Unum, pending Long-term Disability benefits are not being
received at the time of separation. The advantage to converting the University policy
is that there is no requirement to complete a medical examination to qualify for coverage.
Former employees must apply for conversion within 31 days from separation. Contact
UA Benefits at (907) 450-8242 or ua-benefits@alaska.edu to request a conversion application.
When converting the plan, please be aware that premiums for the individual policy
are paid directly to Unum and coverage may differ from the group policy offered by
the University.
Coverage End Dates
Both Short- and Long-term Disability will end on the employee's last day worked.
Who is our Vendor?
Unum manages both our Short- and Long-term Disability Plans. Unum can be reached at 866-779-1054.
The University has an Employee Assistance Program (EAP) through ComPsych.
This is automatically available to all employees.
Continue to Use the EAP after Separation
Former employees and their family members may continue to use the Employee Assistance
Program (EAP) after the last day worked. Contact ComPsych at 1-888-969-0155 or log
into their GuidanceResources website to log in. If employees or former employees have not logged in in the past on Guidance
Resources, click on register and use the Web ID: UofAK. More information on the EAP
can be found on our EAP webpage.
Coverage End Dates
Former employees and their family members may continue to use the Employee Assistance Program (EAP) after the last day worked.
Who is our vendor?
Our EAP is managed by ComPsych. ComPsych can be reached at 1-888-969-0155.
University Property
When separating from the University, employees must return all University property. This can include office and building keys, laptops or other devices, credit cards, and more. This list is not exhaustive. Keys that are not returned prior to the last day worked may result in a fee withheld from the final paycheck. In addition, be sure to reconcile any outstanding fees including parking fees, library fees, etc.
HR Address
If moving, please be sure to log into UAOnline to update the HR Address. This will help ensure that future communications, including W2 and 1095-C documents, are sent to a current address. To update or confirm the HR address, log into UAOnline, click on “Personal Information” > “Manage Your Address, Email and Phone Information.”
Final Time Sheet
Final time sheets are completed on UAOnline and must have “final time sheet” written in the comments section. If the online time sheet is not available, a paper time sheet must be completed with the HR Coordinator and include “final time sheet” at the top of the paper form.
Exit Survey / Exit Interviews
The Exit Survey gives employees who are separating the opportunity to provide feedback and share information on their experience and relationship with the University.
If a separating employee would like to schedule an appointment with a member of the Human Resources team to discuss experiences working with the University, please contact ua-ler@alaska.edu.
Email Address / UAOnline
Digital accesses will be automatically terminated upon separation. If continuing as a student, the UA email address will remain active. Contact the Office of Information Technology (OIT) at 907-450-8300 with questions.
UAOnline will remain active, regardless of employment status, for 999 days after the last time it was accessed.
Final Paycheck
Final paychecks include final pay and any annual leave payoff of up to 240 hours. Parental leave, sick leave, personal holiday, and Faculty Time Off (FTO) are not paid out.