{"id":4949,"date":"2020-06-23T10:09:37","date_gmt":"2020-06-23T14:09:37","guid":{"rendered":"http:\/\/www.montclair.edu\/human-resources\/?page_id=4949"},"modified":"2026-04-06T12:11:18","modified_gmt":"2026-04-06T16:11:18","slug":"termination-of-employment","status":"publish","type":"page","link":"https:\/\/www.montclair.edu\/human-resources\/benefits\/termination-of-employment\/","title":{"rendered":"Termination of Benefits"},"content":{"rendered":"<h2>Everything You Need to Know About Your Benefits<\/h2>\n<div class=\"link-list\">\n<ul>\n<li><a href=\"#health-insurance-coverage\">Health Insurance Coverage<\/a><\/li>\n<li><a href=\"#flexible-spending-accounts\">Flexible Spending Accounts<\/a><\/li>\n<li><a href=\"#cobra\">COBRA<\/a><\/li>\n<li><a href=\"#continuation-life-insurance-coverage\">Continuation Life Insurance Coverage<\/a><\/li>\n<li><a href=\"#long-term-disability-insurance-coverage\">Long Term Disability Insurance Coverage<\/a><\/li>\n<li><a href=\"#retirement-accounts\">Retirement Accounts<\/a><\/li>\n<li><a href=\"#pto\">Paid Time Off<\/a><\/li>\n<li><a href=\"#unemployment-insurance\">Unemployment Insurance<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"health-insurance-coverage\"><\/a>\n<h3>Health Insurance Coverage<\/h3>\n<ul>\n<li>Medical, dental and prescription drug coverage will terminate at the end of the month the termination of employment occurs.<\/li>\n<\/ul>\n<p><em>Example: Employment termination date is March 29th, insurance coverage will end on March 31st.<\/em><\/p>\n<p>**10 month employees that are terminating as of 6\/30, insurance coverage will end as of August 31st**<\/p>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"flexible-spending-accounts\"><\/a>\n<h3>Flexible Spending Accounts<\/h3>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Flexible Spending Accounts have a use it or lose it policy. Termination of FSA benefits occurs on the last day of the month in which employment is terminated.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Once you are no longer an employee of Â鶹´«Ã½ÔÚÏß a termination will be placed on your FSA account. If there are funds remaining in the account that you had contributed towards you can only submit claims for the time you were an active employee.<\/span>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Example: Employment termination date is March 31st. You can only submit claims dated from January 1st &#8211; March 31st.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">If the contributions paid to date are more than the claims paid out you may have the option of enrolling in COBRA.<\/span>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Please note that you are not eligible for COBRA if your account is overspent (the contributions paid to date are less than the claims paid out) or enrolled in a Dependent Care FSA.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Please view the <\/span><span style=\"text-decoration: underline\"><strong><a href=\"https:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2022\/09\/2023-Horizon-NJ-TaxSave-Essential-Guide.pdf\">NJ Tax$ave<\/a><\/strong><a href=\"https:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2022\/09\/2023-Horizon-NJ-TaxSave-Essential-Guide.pdf\"> <\/a><a href=\"https:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2024\/09\/2025-Horizon-NJ-TaxSave-Resource-Guide-9-12-24-FINAL.pdf\">Resource<\/a><strong><a href=\"https:\/\/www.montclair.edu\/human-resources\/wp-content\/uploads\/sites\/181\/2022\/09\/2023-Horizon-NJ-TaxSave-Essential-Guide.pdf\"> Guide<\/a><\/strong><\/span><span style=\"font-weight: 400\"> for additional information.<\/span><\/li>\n<\/ul>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"cobra\"><\/a>\n<h3><strong>COBRA<\/strong><\/h3>\n<span class=\"prpl-button\"><a href=\"https:\/\/www.montclair.edu\/human-resources\/cobra\/\">Learn More About COBRA<\/a><\/span>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"continuation-life-insurance-coverage\"><\/a>\n<h3><strong>Continuation Life Insurance Coverage <\/strong><\/h3>\n<ul>\n<li>Life insurance coverage continues for 31 days after termination of employment date<\/li>\n<li>Conversion without medical exam is available and the application for conversion must be submitted within 31 days of termination of employment.<\/li>\n<li>Please see <u><a href=\"https:\/\/www.nj.gov\/treasury\/pensions\/documents\/factsheets\/fact31.pdf\">Termination of Employment through Resignation, Dismissal, or Layoff<\/a><\/u> fact sheet or contact the Prudential Group Life Conversion department at 1-877-889-2070 for more information on this process . You can also use the online Prudential Life Insurance calculator at: <u><a href=\"http:\/\/www.state.nj.us\/treasury\/pensions\/conversion-calc.shtml\">http:\/\/www.state.nj.us\/treasury\/pensions\/conversion-calc.shtml<\/a><\/u><\/li>\n<\/ul>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"long-term-disability-insurance-coverage\"><\/a>\n<h3><strong>Long Term Disability Insurance Coverage <\/strong><\/h3>\n<h4>ABP Members:<\/h4>\n<ul>\n<li>Long term disability coverage ends on the date of termination<\/li>\n<li>No conversion privilege<\/li>\n<\/ul>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"retirement-accounts\"><\/a>\n<h3>Retirement Accounts<\/h3>\n<h4>\u00a0PERS Pension<\/h4>\n<ul>\n<li>You have the option of withdrawing your pension contributions and ending pension membership.<\/li>\n<li>By withdrawing your monies, you will be forfeiting your NJ State pension credited service. If you return to work for any New Jersey State Agency, your prior years of service will not count.<\/li>\n<li>For information on how to withdraw your monies, please log on to your Member Benefits Online System Account (MBOS) via the NJ State website: <u><a href=\"https:\/\/www.state.nj.us\/treasury\/pensions\/\">https:\/\/www.state.nj.us\/treasury\/pensions\/<\/a><\/u><\/li>\n<\/ul>\n<h4>Mandatory 401A Plans<\/h4>\n<ul>\n<li>If you are vested, you are not required to withdraw funds until you are age 70-1\/2.<\/li>\n<li>If you are vested and choose to withdraw funds, you are <em>considered retired <\/em>and <em>may not be permitted <\/em><em>to participate in a New Jersey State pension plan upon re-employment. <\/em><\/li>\n<li>If you have participated in ABP for less than twelve months, you will receive only your own contributions and earnings, but will not receive MSU contributions.<\/li>\n<\/ul>\n<p><em>If you choose to complete the withdrawal process after your termination please direct paperwork to the Division of Pensions and Benefits. MSU will no longer have access to provide authorization.<\/em><\/p>\n<h4>Supplemental 403b Plans<\/h4>\n<ul>\n<li>You have the option to withdraw funds immediately upon termination.<\/li>\n<li>Contact investment carrier for guidance on the withdrawal process.<\/li>\n<\/ul>\n<p><strong>Please contact your investment carrier for more information: <\/strong><\/p>\n<ul>\n<li><strong>TIAA: <\/strong>Joseph Del Grande,<strong><a href=\"tel:201-498- 8306\">201-498- 8306<\/a>, <a href=\"mailto:joe.delgrande@tiaa.org\">joe.delgrande@tiaa.org<\/a><\/strong><\/li>\n<li><strong>Empower (formerly Massmutual):<\/strong> Ira Goldberg, <a href=\"tel:848-248-4353\">848-248-4353<\/a>,<a href=\"mailto:igoldberg@gittermanwealth.com\"> igoldberg@gittermanwealth.com<\/a><\/li>\n<li><strong>MetLife: <\/strong>David Sharpe, <a href=\"tel:201-207-6694\">201-207-6694<\/a>, <a href=\"mailto:dsharpe@financialguide.com\">dsharpe@financialguide.com<\/a><\/li>\n<li><strong>Empower (formerly Prudential): <\/strong>Fernando Garcia, <a href=\"tel:201-741-1080\">201-741-1080<\/a>, <a href=\"mailto:fernando.garcia@empower.com\">fernando.garcia@empower.com<\/a><\/li>\n<li><strong>AXA Equitable: <\/strong>David Lynch, <a href=\"tel:732-585-2451\">732-585-2451<\/a>, <a href=\"mailto:david.lynch@equitable.com\">david.lynch@equitable.com<\/a><\/li>\n<li><strong>VOYA:<\/strong> Frank Booth, <a href=\"tel:860-573-5673\">860-573-5673<\/a>, <a href=\"mailto:frank.booth@voyafa.com\">frank.booth@voyafa.com<\/a><\/li>\n<li><strong>VALIC: <\/strong>Nazma Begum, <a href=\"tel:201-273-8017\">201-273-8017<\/a>, <a href=\"mailto:nazma.begum@corebridgefinancial.com\">nazma.begum@corebridgefinancial.com<\/a><\/li>\n<\/ul>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"pto\"><\/a>\n<h3>Paid Time Off<\/h3>\n<ul>\n<li>Please visit the Payroll website at <u><a href=\"http:\/\/www.montclair.edu\/human-resources\/payroll-services\/paid-time-off\/\">Paid Time Off<\/a><\/u> for information.<\/li>\n<li>Feel free to contact Payroll directly at <a href=\"mailto:payroll@montclair.edu\">payroll@montclair.edu<\/a><strong>. <\/strong><\/li>\n<\/ul>\n<\/div><\/div><div class=\"prpl-band\"><div class=\"prpl-band-content\"><a name=\"unemployment-insurance\"><\/a>\n<h3>Unemployment Insurance<\/h3>\n<ul>\n<li>Please visit the <u><a href=\"http:\/\/www.montclair.edu\/human-resources\/payroll-services\/unemployment-insurance\/\">Unemployment Insurance<\/a><\/u> webpage or contact Payroll team directly at <a href=\"mailto:payroll@montclair.edu\">payroll@montclair.edu<\/a> for more details.<\/li>\n<li>You may also visit the Division of Unemployment Insurance: <a rel=\"noopener noreferrer\" href=\"https:\/\/myunemployment.nj.gov\" target=\"_blank\">https:\/\/myunemployment.nj.gov<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Everything You Need to Know About Your Benefits Health Insurance Coverage Flexible Spending Accounts COBRA Continuation Life Insurance Coverage Long Term Disability Insurance Coverage Retirement Accounts Paid Time Off Unemployment Insurance<\/p>\n","protected":false},"author":6,"featured_media":3391,"parent":204,"menu_order":8,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-4949","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/4949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/comments?post=4949"}],"version-history":[{"count":23,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/4949\/revisions"}],"predecessor-version":[{"id":9724,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/4949\/revisions\/9724"}],"up":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/pages\/204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/media\/3391"}],"wp:attachment":[{"href":"https:\/\/www.montclair.edu\/human-resources\/wp-json\/wp\/v2\/media?parent=4949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}