As you leave employment with Washington State University, we wish you success in your future ventures. Following are some topics we encourage you to review to ensure you are aware of how your separation from the university impacts your benefits and retirement program(s).
Medical and Dental Coverage
Medical and dental coverage ends on the last day of the month in which employees are paid for at least 8 hours or more (for additional information click here). You may be eligible for continuation of your medical coverage under COBRA for at least 18 months. The Health Care Authority in Olympia will mail a COBRA packet to your home address. Employees can also access COBRA information by calling 1(800) 200-1004 or online at www.pebb.hca.wa.gov, and select
- “Forms” and then “COBRA” for the paperwork
- “Publications” and then “Election Notice” under Continuation of Coverage for additional information.
Retirement Plans (including Supplemental Tax Deferred Investments)
Employees have options when it comes to their retirement account upon separation from employment, which could include leaving funds in the account; rolling-over funds into another investment vehicle; or withdrawing some or all of your retirement funds. It is strongly recommended that employees contact their retirement plan directly and speak with a tax advisor to understand the implications of their choice, such as taxes, possible penalties, etc.
TIAA-CREF (for Regular and Supplemental Accounts)
Contact TIAA-CREF at (800) 842-2776 or visit their website at www.tiaa-cref.org for additional information.
PERS
Contact the Department of Retirement Systems at (800) 547-6657 or visit the website at www.drs.wa.gov/forms and select “Withdrawals” for additional information.
Deferred Compensation, State of Washington
Contact Deferred Compensation at (888) 327-5596 or visit their website at www.drs.wa.gov and select “Deferred Compensation” for additional information.
Leave Payoff
If the appointment is eligible for annual leave payout, Human Resource Services will process the leave payout after the employee’s leave/time reports are received from your department and audited. For additional information contact HRS at (509) 335-4521 or hrs@wsu.edu.
Address Changes
It is important to update addresses online at www.my.wsu.edu. This will ensure that WSU is able to mail any important information you may need after you separate, such as your W2 form. Contact TIAA-CREF and the DRS directly (at the phone numbers listed above) to report the updated address for retirement accounts, and future mailings from them.
Life Insurance and Long Term Disability Insurance
Life Insurance coverage ceases after your employment ends (for more information click here).
Optional Long Term Disability coverage ceases after your employment ends (for more information click here).
Additional Resources for Separating Employees
