The purpose of this Policy is to provide a structure that enables the University to elicit valuable information regarding the experience of employees who are leaving the organization, as well as provide a process for non-returning employees to complete all University obligations.
Employee Services may conduct an exit interview with a terminating employee on or before the employee’s last day of employment and ensure the following University property has been returned:
• University ID Card;
• Parking Sticker;
• Office keys;
• University-issued credit cards;
• University manuals;
• Any additional University-owned or issued equipment.
To receive a disbursement of any amounts due from the Retirement Plan, the employee should contact TIAA-CREF.
Eligible employees may choose the continuation or waiver of applicable coverages under COBRA. Specific information will be provided at the exit interview.
Benefits (end on your last day of employment, or, last day of the month in which your last day of employment falls depending on the benefit plan (or in accordance with plan rules/documents. An eligible employee, unless dismissed for gross misconduct, has the option to convert some benefits in accordance with The Consolidated Omnibus Budget Reconciliation Act (“COBRA”) regulations.
II. Final Paycheck
This final paycheck will be direct deposited on the next scheduled pay date. If there are unpaid obligations to the University, such as advanced vacation time unreturned University equipment, unpaid advances, training expenses, or any other fees, expenses or monies that may be owed by the employee to Lynn University, the final paycheck will reflect the appropriate deductions unless otherwise provided by law.
III. Retirement Plan
If an employee is participating in the retirement plan, information regarding this plan will be provided at the exit interview or as soon as practicable following termination of employment.
To learn more about this policy or the supporting procedures, please contact Employee Services
Policy updated on: Oct. 24, 2018