TCRC Partnership Changes Employee Q&A Human Resources Team Dec 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 positions Academic vacancies  Apply with the departments. A vita or resume and academic transcripts are required. Staff vacancies  Apply on-line. Temporary / Non Benefit-eligible vacancies Application process varies

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 31 st. 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? Eligibility Administrative, service, and support (“staff”) who have satisfactorily completed their probationary period is covered. Layoff Leave of Absence timeline Employee 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 Pay One 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 TopicLayoffEnd of Contract Vacation*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. TimePaid in a lump sum on last regular paycheck Not applicable

Chart TopicLayoffEnd of Contract UM 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 AccountsParticipation continues during layoff period Contributions stop as of last regular paycheck Submit expenses as usual Long-Term CareIf enrolled, through layoff period and after If enrolled, you may continue coverage at the same rate Educational AssistanceIf 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 /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 AgeCredible Service Reduction Factor 55 years10 years years 5 years years 5 yearsNo reduction

Chart Not VestedVested 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 through the Retiree Access IT Program There is no program in place for separated employees to retain University Faculty and Staff Benefits MURA Retirees Association MU Division of Information Technology (Retiree Access IT Program) Layoff leave does not count toward vesting or retirement LOS computations

Other Services OTHER SERVICES OF INTEREST MU Extension Career Options 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 Careers SkillSof t / MyLearn online training (need a pawprint)

MISC SERVICES OTHER SERVICES OF INTEREST MU Human Resource Services 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 Job 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 ~

Live. And Learn. Follow-up questions may be directed to: or call