If You Leave the University
The following will describe the procedures to follow in the event your employment ends with Fordham University:
If you resign from the University you are expected to submit a letter of resignation to your immediate supervisor and the Office of Human Resource Management.
Separation from the University for Reasons other than Cause
If your employment with the University ends for reasons other than cause, such as a reduction in staff, reorganization, etc., you will receive notice or pay in lieu of notice as outlined below:
|6 months to 1 year||2 weeks|
|1 to 3 years||8 weeks|
|3 to 5 years||10 weeks|
|5 to 7 years||12 weeks|
|More than 7 years||16 weeks|
Please note: Grant Funded positions are not eligible for pay in lieu of notice.
Termination for Cause
Your employment with the University may be terminated for cause, which includes but is not limited to dereliction of duty, misconduct, any violation outlined in the University Code of Conduct or other similar events. In this instance, your employment with the University ends immediately and you are not subject to additional compensation.
If you are ending your employment with the University for any reason other than cause, including retirement, it is recommended that you set up an appointment before your last day of employment with a Human Resources Employment Representative for an exit interview. During this meeting, the Human Resource Employment Representative will finalize with you all matters pertaining to your final paycheck, benefit status, pension distributions, etc.
ID Cards, Parking Device, Keys and Other Fordham Property
You are required to return your ID card, keys, parking devise and other Fordham property not limited to cars, laptops, phones, expense accounts, etc. to your supervisor no later than your last day of your employment.
Benefits If You Leave the University
If you have been employed by the University for six months, and have successfully completed your Introductory Period, you are entitled to be paid for any unused and accrued vacation time, providing your notice coincides with the vacation policy.
Unlike vacation, the University does not compensate administrators for unused and accrued personal days.
If you are leaving the University for a reason other than retirement, you are eligible for the following benefits at your own expense:
The Consolidated Omnibus Budget Reconciliation Act (COBRA) enables you and your dependent(s) to remain enrolled in the University’s group health care plan, after your employment ends with the University. You will be responsible for 102% of the group premium in effect, subject to inflationary adjustments. The 2% surcharge represents the University’s administrative cost. You will receive notification by mail of your continuation options under COBRA when your final paper work is processed.
Under NY State Law you may pay for COBRA coverage up to 36 months for you and your qualified beneficiaries. You should check with the insurance carrier from whom you have purchased COBRA coverage to determine if you can convert your group policy to an individual policy at the end of your COBRA coverage. If you covered a Category A LDA dependent at the time of your employment termination, you may elect continuation coverage for that person.
Group Life and Accidental Death and Dismemberment Insurance
You can convert your Group Life Insurance Coverage and pay premiums directly to the carrier providing you apply for such coverage within thirty-one (31) days after your employment ends with the University.
Retirement Plan - 403 (b)
When your employment ends all your contributions to the Fordham University Retirement Plan and to the Tax Deferred Annuity (TDA) Plan will stop. You may not make future contributions to either of the plans, except to repay any outstanding loans you may have as of your termination date. You will continue to retain ownership of all funds in the account, regardless of who made the contribution.
After you leave the University, the funds may remain in the investment instrument(s) you have selected. All pre-tax contributions will remain tax-deferred until you withdraw them. If you have Roth contributions they can be withdrawn tax-free if they have been in the plan for a minimum of 5 years, and have met the requirements under the IRS regulations for withdrawals. You also have the option of rolling over the funds into an IRA or another qualified plan. We suggest that you contact an investment advisor to assist you in your decision-making process.
Your access to continued tuition remission benefits depend upon the reason for which your employment with the University has ended. Please note: this benefits is for students who are enrolled in qualified course study at Fordham University. Fordham’s Tuition Exchange Program as well as the FACHEX Program are not eligible under this provision.
- If you resign or are terminated, you are no longer entitled to receive tuition remission benefits beginning on your final day of employment. If you are making use of these benefits at the time of your resignation or termination, you may make arrangements to pay a pro-rated amount for the remainder of the semester.
- If you have been employed for less than 3 years, and your job is eliminated, you, your spouse/Category A LDA and/or your dependent children may continue to use your tuition remission benefits for one semester after your employment ends.
- If you have been employed for more than 3 years and your job is eliminated, you, your spouse/ Category A LDA, and/or your dependents are entitled to complete the degree program for which you or they are enrolled at the time your employment ends.
- If you have been employed 10 or more years, and your job is eliminated, your dependent children under the age of 18 at the time your employment ends are eligible to receive four years of tuition remission toward the completion of a bachelor’s degree when they reach college age.
- If you die, become totally disabled as certified through Social Security, or retire at age 62 or older with a minimum of ten years of service, your spouse/ Category A LDA and/or dependent children are entitled to the same benefits to which they would have been entitled, had you continued your employment on a full-time or part-time basis.
- If you become totally disabled or die before completing 10 years of employment, your spouse/ Category A LDA and/or your dependents are entitled to complete the degree program for which they were enrolled at the time of your disability or death.