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TCRC Partnership Changes Employee Q&A Human Resources Team Dec 2010
TCRC Partnership ChangesEmployee Q&A
Human Resources TeamDec 2010
Objectives
Today’s discussion will cover the following 5 topics:
1) Transferring to another University of Missouri job
2) Academic “End of Contract”
3) Layoffs and Transition Assistance program
4) Retirement
5) Other services and assistance available
Transfer to another UM Job
How can I be considered for another UM job?
Benefit-eligible positionsAcademic vacancies Apply with the departments.A vita or resume and academic transcripts are required.
Staff vacancies Apply on-line.
Temporary / Non Benefit-eligible vacanciesApplication process varies
http://hrs.missouri.edu/find-a-job/index.php
Transfer to another UM Job
What happens to my current benefits?
Continued benefit-eligible service (with no break in service)• PTO (Vacation, sick, and personal days)
Balance remains and transfers with you to another staff position, or academic position if the hiring department has a PTO policy.
• Benefits (medical, dental, vision, etc) continue
Transfer to non-benefit job• Vacation balance paid lump-sum• Benefits continue through the end of the month in current position
Any questions about transfers?
Faculty End of Contract
My University title is “Extension Associate”. What key factors should I be aware of?
1) Extension Associate titles are considered faculty. Faculty contracts with MU Extension are typically through August 31st.
2)Salary is paid through the end of your contract, regardless of when the TCRC closes.
3) Unused vacation will be paid lump-sum at the end of your contract.
4)Benefits continue through the end of the month of your contract.
5)Faculty positions are not eligible for “layoff leave of absence” or transition assistance pay
More info to follow
Staff Layoff
My position is STAFF. What “layoff benefits” are there?
•EligibilityAdministrative, service, and support (“staff”) who have
satisfactorily completed their probationary period is covered.
•Layoff Leave of Absence timelineEmployee with continuous benefit-eligible length of service of at
least 5 years will be placed on a layoff leave of absence for one year.
Employee with continuous benefit-eligible length of service of less than 5 years will be placed on a layoff leave of absence for three months.
•Length of service during layoff leave is not counted towards retirement, disability, and death benefits.
Staff Layoff
• TRANSITION ASSISTANCE PROGRAM THROUGH JUNE 30, 2011*
Transition Assistance PayOne week of pay (4 weeks minimum) for every year of continuous benefit-eligible service, immediately prior to layoff.
Up to a maximum of 26 weeks of pay.
Funded from central UM system budget.
Chart
Topic Layoff End of ContractVacation* Paid in a lump sum on last regular
paycheck
Employees in layoff may delay lump sum payment up to 60 days
Paid in a lump sum on last regular paycheck
Sick* Forfeited at end of layoff period (no lump sum)
Forfeited at End of Contract (no lump sum)
Personal* Forfeited at end of layoff period or on anniversary date
Forfeited if not utilized prior to last day of work
Comp. Time Paid in a lump sum on last regular paycheck
Not applicable
Chart
Topic Layoff End of ContractUM medical, dental, vision, Life, Accident Death & long-term disability
If currently enrolled, through the layoff period (then COBRA)
If currently enrolled, individuals will be eligible for COBRA
Flexible Spending Accounts Participation continues during layoff period
Contributions stop as of last regular paycheckSubmit expenses as usual
Long-Term Care If enrolled, through layoff period and after
If enrolled, you may continue coverage at the same rate
Educational Assistance If currently receiving, will continue through the end of the current semester; otherwise not eligible
Educational Fee Reduction for Spouses & Dependents
Through the end of the approved leave of absence
If currently receiving, will continue through the end of the current semester; otherwise not eligible
Tax Deferred Investments Leave Money in Account Rollover into an IRA account Cash distribution (penalty if less than 59½ {403(b) & 401(a) accounts})
There is no program in place to retain University email/computer access
Retirement
• Eligibility Calculations for University of Missouri retirement
• Faculty – End of Contract
Process as immediate retirement to be eligible to enroll in University Retirement Benefits (i.e., health insurance)
• Staff – Layoff and Transition Pay
May be placed in layoff leave, receive transition pay, and then retire at end of layoff period
Age Credible Service
Reduction Factor
55 years 10 years .7688
60 years 5 years .9334
65 years 5 years No reduction
Chart
Not Vested Vested yet ineligible to retire
Retirement
Lump sum of contributions
May defer
Leave money in Retirement pool (monthly benefits may begin as early as 55)
Must be eligible prior to layoff
Minimum of 55 with 10 yrs or 60 with 5 yrs of regular service credit
May Withdraw Money (lump sum if less than $20,000)
May rollover money (IRA or other qualified plan)
Vacation leave must be used prior to effective date of retirement
Unused sick leave balance added into retirement computations
Retirees may retain University email through the Retiree Access IT ProgramThere is no program in place for separated employees to retain University email
• Faculty and Staff Benefits http://www.umsystem.edu/ums/departments/hr/benefits/
• MURA Retirees Association http://mura.missouri.edu
• MU Division of Information Technology (Retiree Access IT Program) http://doit.missouri.edu/retirees.html
Layoff leave does not count toward vesting or retirement LOS computations
Other Services
OTHER SERVICES OF INTEREST
• MU Extension Career Options - http://www.missouribusiness.net/career/
Workshops available including exploration of work values, career interests, transferable skills, resume writing, writing cover letters, job interviewing, completing job applications, networking and job search strategies and methods.
• Recommended website – Quintessential Careershttp://www.quintcareers.com/
• SkillSoft / MyLearn online training (need a pawprint)
https://myhr.umsystem.edu/psp/prd/?cmd=login&languageCd=ENG&
MISC SERVICES
OTHER SERVICES OF INTEREST
• MU Human Resource Serviceshttp://hrs.missouri.edu/policies-and-procedures/layoff-and-transitional-assistance.php
Policy information about layoff’s and transition assistance
Layoff Resource Guide for employees
Layoff Resource Guide for Supervisors
• MU Employee Assistance Center / Counseling Center http://counseling.missouri.edu/employee-assistance-program/personnel.phpJob stress, emotional / psychological challenges, career change, health problems, financial pressures, and more.
MISC SERVICES
For faculty and staff / Human Resources / Separation
Conclusion
What other resources, training, or services can we do to help you?
What other questions can we address for you?
~ Thank you ~
