If you are enrolled in voluntary insurance benefits, you will have the opportunity to convert your policies to individual policies within 31 days. You pay the premiums for this individual coverage.
Healthcare and Dependent Care FSAs
If you are enrolled in Sandia’s spending accounts (healthcare or dependent care), you may submit claims for up to 90 days following your last day worked.
Transportation Spending Account
If you are enrolled in the transportation spending account, access to your account will end on your termination date. You will lose any remaining funds.
If you participate in the pension plan:
If you are not yet eligible to begin receiving your pension benefits, you may be eligible for a deferred vested pension, payable in the future.
If you participate in the 401(k) plan:
Your own contributions to the plan are always vested; Sandia’s contributions to your account vest over a three-year period.
Your vested 401(k) balance is portable. You can decide to keep your money saved and invested in your current Fidelity account (with a balance over $5,000).
Or, you can roll over your balance to another employer’s plan or to a qualified retirement account (e.g., an IRA). There are no tax consequences for this rollover.
Your accrued, unused vacation time will be paid to you, according a schedule based on years of service and if you worked full-time or part-time.