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Exit Procedures

Are you moving to a different area? Are you retiring after years of faithful service? Did you accept another job with a different organization? If for any reason you are leaving employment with NOVA, please use the detailed information below to ensure a smooth transition and to provide the continuation of any benefits you may need.

Full-Time Employees Only

Step 1: Letter of Resignation Step 9: Flexible Spending Accounts
Step 2: Direct Deposit Information Step 10: Saving Bond Refunds
Step 3: Payment of Leave/Disability Credits Step 11: Check Out Sheet
Step 4: Change of Address Step 12: Tuition Assistance
Step 5: Life Insurance Step 13: Long Term Care Insurance
Step 6: Deferred Compensation Plan Step 14: Virginia Retirement System
Step 7: Medical Insurance Step 15: ORP Funds
Step 8: UNUM Disability Coverage  

Step 1: Letter of Resignation

You must submit a letter of resignation to formally vacate the position held. Employees can electronically submit this form by visiting the NOVA Forms Library. A minimum of two weeks notice is requested.

Your day of resignation is generally the last day you have worked or the last day of your paid leave. Holidays, school closings and illness may call for an alternative date.

Step 2: Direct Deposit

If you are currently using direct deposit, it will continue through your last salaried pay unless you notify Human Resources. Leave balance payments are not generally direct deposited. These checks are mailed to the home of forwarding address unless you indicate on the letter or resignation form that you wish to pick them up. For more information, contact NOVA Payroll at 703.323.3076.

Note: Lag pay will frequently permit salaried pay on a pay date following your resignation date.

Retirees
If you are retiring as a VRS member, you will be asked to fill out VRS-57 as part of your retirement packet. This form authorizes direct deposit payments into your account from your VRS member disbursements.

Step 3: Payment of Leave

Leave balance payments are disbursed in separate checks, generally in the pay period immediately following the resignation date or receipt of last salaried pay.

Disability Credits
Employees participating in the Virginia Sickness and Disability Program (VSDP) who were employed prior to January 1, 1999 must choose to:

  1. Convert unused disability credits to service credits to increase their Virginia Retirement System (VRS) benefit, or
  2. Receive a payment from their employer for 25% of their disability credits up to $5,000. If a member elects to convert the disability credits to service credits, one month of service credit is granted for each 173 hours of disability credits, rounded up to the next highest month.

Download the VSDP Conversion of Disability Credits Form and submit it to Human Resources.

Step 4: Change of Address

Please note forwarding address on your completed form 105-21 (Letter of Resignation/Retirement). After your separation from the college, please notify NOVA Payroll Department of any change in address to avoid a delay in receipt of your annual W-2. For more information regarding your tax statement, please contact NOVA Payroll at 703.323.3076.

Step 5: Life Insurance

Non Retirees

For salaried employees who terminate employment and have not become eligible for retirement, group life insurance coverage ends on the date of termination. However, you may convert to an individual whole-life policy at non-group rates by completing a Conversion to Classic Life enrollment form or by calling Minnesota Life at 1.800.441.2258.

Retirees

After you retire, your life insurance continues at no cost to you provided you are at least 55 and have at least five years of service as an employee; or age 50 with 10 years of service. Your life insurance also continues if you retire because of disability. The amount of your life insurance reduces after retirement at a rate equal to 25 percent on January 1 of the first full year following the date you separate from service and each year thereafter, until it reaches 25 percent of its original value. No election form is needed to continue Group Life Insurance Coverage as a retiree. For additional information, contact Human Resources AskHR@nvcc.edu.

Check Minnesota Life for further details.

Step 6: Deferred Compensation Plans

403(b) Participants

Exiting employees participating in the 403(b) plan should contact their respective vendors for options for accessing contributions in their 403-b account. Toll-free numbers for each vendor can be found on your quarterly statement.

457 Participants

Exiting employees participating in the 457 plan should contact a Deferred Compensation Representative at 1.877.327.5261 for options for accessing funds.

403(b) Participant

Step 7: Medical Insurance

Non-Retirees

Health coverage for classified full-time and part-time salaried employees and 12 month faculty terminates the last day of the month of employment. Teaching faculty terminating the end of the academic year may elect to continue coverage through August 31 of that calendar year if premiums are paid accordingly. With few exceptions, employees are eligible for COBRA (continuation of health benefits beyond employment). However, the employee must pay the full premium and a 2 percent administrative fee. COBRA can be maintained for up to 18 months. Employees must enroll in COBRA within 60 days of separation from employment or receipt of the COBRA notice, whichever is later. For questions, please contact AskHR@nvcc.edu.

Retirees

If you are a retiree from VRS or ORP, you may participate in the State Retiree Health Benefits Plan. You must enroll within 31 days of separation of active employment. As a retiree, you may also be eligible for a health insurance credit. You may obtain additional information about health benefits for retirees on the Department of Human Resource Management website.

If you waive the state retiree coverage during the transitional election period, you will not be able to enroll at a later time unless you waived participation to be covered under a spouse’s plan who is a state employee. For questions, please contact AskHR@nvcc.edu.

Step 8: UNUM Disability Coverage

Coverage in the NOVA Group Long-Term Disability Plan ceases the end of the month in which the termination occurs. Your eligibility to continue the coverage on a non-group basis for 12 months without any evidence of insurability depends on whether you have been enrolled for 12 continuous months under the NOVA group plan. If you are interested in applying to keep UNUM coverage as a personal plan, request a written application from Human Resources at AskHR@nvcc.edu. Please include your mailing address and a daytime phone number.

Step 9: Flexible Spending Accounts

If you are currently enrolled in a flexible spending account (Section 125), contact Human Resources at AskHR@nvcc.edu to discuss your options upon termination of employment.

Step 10: Saving Bond Refunds

Any balance in a bond account that is not sufficient to purchase a bond denomination will be refunded. This may be sent to you in a separate check mailed to your home address. This is true for both Series "I" and "EE" Bonds, or as a credit in a subsequent check which may be a leave check.

Step 11: Check Out Process

Upon submitting your automated resignation/retirement to NOVA your respective HR Consultant will schedule a meeting with you to collect all campus owned property and complete the NOVA 105-22 form.

Step 12: Tuition Assistance

Upon termination, the employee is responsible for tuition payment for course work not completed. Please refer to NOVA 105-43/VCCS-16 for further information or contact Human Resources at AskHR@nvcc.edu.

Step 13: Long-Term Care Insurance

Terminating employees participating in the Virginia Sickness and Disability Program (VSDP), may elect to continue coverage in the VSDP Long Term Care Program at group rates. You must elect to continue your coverage within 60 days of leaving VSDP-covered employment. You will pay the premiums. Contact the Long Term Care Group, Inc. at 1.800.761.4057 for additional information.

Step 14: VRS Funds

Upon termination of employment, full-time and part-time salaried employees should review the Instructions for Completing the Request for Refund (VRS-3) form for options and considerations of withdrawing contributions.

Terminating employees not choosing to take a refund of their VRS member contribution account should complete a Name and Address Declaration for Deferred Members (VRS-3A) form and forward it to Human Resources.

If you are unsure about any Out Boarding procedures or need further clarification on benefits and final paycheck information, please contact Human Resources at AskHR@nvcc.edu.

Step 15: Optional Retirement Plan Funds

You have several options regarding your pension funds in your ORP account subject to some important provisions and/or tax consequences. First, you may leave the funds in your ORP account upon leaving the College. Second, you may roll the funds over to another suitable account. You should contact your ORP carrier for further instructions regarding this option. Third, you may take a distribution on the available funds. However, you should investigate the tax ramifications of this dispersal as there is likely to be a penalty for doing so. With any of these options, you should contact your ORP vendor to find out additional information.

ORP Termination Certification Form (VRS 65D)

Conclusion

You have completed the steps needed to prepare your separation from NOVA. There are some things, however, that cannot be done until the last day of employment. If you are unsure about any of these steps or need further clarification, please email AskHR@nvcc.edu.