Exiting Employee Information

Health and Dental Insurance

If you are a member of the Samford University Health and Dental Plans and terminate your employment, your coverage will continue through the end of the month in which you terminate, provided that you have paid the premium currently in effect for employees. You also have the right under COBRA to continue your coverage by paying the full premium (employer and employee portions) currently in effect. A letter explaining this coverage in more detail and an application for COBRA Continuation Coverage will be mailed to you upon your termination. Please contract Human Resources for further information about this coverage.

Life Insurance

As a Full Time employee of Samford University, you were enrolled in the Group Term Life Insurance and you may have participated in the optional Group Term Life Insurance plan. If you would like to continue with Fort Dearborn Life Insurance, you must do so within 31 days of your termination date. A letter, as well as, a conversion application will be mailed to you upon termination. If you have any questions, please contact Human Resources.

Pension Plan

If you have completed five years of service with Samford University you are vested in the pension plan. A letter will be sent to you in the mail within thirty business days following your termination date to inform you of your benefit and will include instructions on how and when you can start your monthly benefit. If you have any questions concerning the pension plan, contact Human Resources.

Employee Tuition Benefit

If you were participating in the employee tuition benefit at the time of your termination you may be liable for a portion of the value of the ETB for that term. If your termination date is before the end of the term during which you or your spouse or dependent received the ETB, the student will be billed pro rata for the remaining value of the ETB for that term.

Tax Deferred Annuities

If you participated in the tax deferred annuities, you will need to contact your TDA provider for instructions on your payment/rollover options. The contact numbers for the providers are as follows:

Saturday 9am to 6pm EST

Flex Spending Account

If you were participating in the health care spending account or the dependent care spending account, your enrollment will continue until the end of the month in which you terminate. If you have been reimbursed for more than you have contributed to the account, you will be billed for the difference. You may choose to continue contributions to the account by enrolling in continued coverage with PBG. However, be advised that these deductions will no longer be made with pre-tax payroll deductions. If you have questions concerning your flex spending account or wish to apply for Cobra coverage, please contact the Professional Benefits Group at 205-822-8310.

Sick and Personal Time

Sick and personal time will not be paid out upon termination from Samford.

Vacation Time

STAFF: If you leave Samford after six months of employment, you will be paid your accrued but unused vacation time.

FACULTY: Please refer to the faculty handbook regarding vacation time. 

Recognition upon Termination

If you terminate your employment with Samford following ten or more years of service, but do not retire, the University will allot an amount equal to $10.00 per full year of service to be used as the budget unit supervisor deems appropriate for a gift, luncheon, reception, or other recognition. The Office of Human Resources will fund such activity. For further information, please contact Human Resources.

Samford University Exiting Employee Information – Retirement

Health and Dental Insurance

If you are a member of the Samford University Health and Dental Plans at the time of your retirement and are under 65 years of age you may continue your coverage as a retiree. You will pay the current premium for retired employees which will be due upon the first of each month. You can continue coverage under the plan until you reach the age of 65.

Your spouse and dependent children may also continue coverage under the plan provided your spouse and/or dependent children were covered under your plan at the time of you retirement. Your spouse can continue coverage until he/she turns 65. Your dependent child(ren) under the age of 19 or under the age of 26 (if a full time student) who was covered under the plan at the time of your retirement may also continue coverage under the plan until he/she no longer meets the requirements of a dependent.

Life Insurance

As a full time employee of Samford University you are eligible to receive a Group Term Life benefit in the amount of two and one-half times your salary. This benefit is paid by the University. This amount reduces if you are still actively employed at age 65. As a retiree of Samford University, you will be eligible to continue to receive a portion of this Group Term Life benefit. This benefit will continue to be paid for by the University. The amount of the benefit will depend upon your age and salary at the time of your retirement. The benefit will be determined as follows:

Pension Plan

To apply for your monthly pension benefit, you must first request a pension estimate. This should be done at least 30 days prior to retirement, and can be requested up to 90 days prior to retirement. Also at this time, you will need to notify your direct supervisor or department head of your intentions to retire. Once the pension estimate has been received, you will be contacted by Human Resources to set up an appointment to complete your pension paperwork. Your pension benefit will be paid the first of the month following your retirement date. The benefit will continue to be paid on the first of each month thereafter. You may elect to have your monthly benefit direct deposited to your bank account, or mailed to your home address.

Employee Tuition Benefit

Retirees with 15 or more years of service, who were eligible for ETB prior to retirement are permitted to audit or take for credit undergraduate and graduate courses as long as there are sufficient non-employee students in the class. This benefit applies to full time and part time undergraduate and graduate studies through the attainment of one bachelor's degree and one master's degree utilizing the University's Employee Tuition Benefit. It does not apply to room, meals, books, special course fees, or any other charges other than tuition as established by the Board of Trustees.

The ETB is also available to your spouse and dependent children upon your retirement if you were eligible for the benefit prior to retirement and if you retire with 15 or more years of service. The benefit applies to full-time and part-time undergraduate studies through the attainment of one bachelor's degree. It does not apply to room, meals, books, special course fees, or any other charges other than tuition as established by the Board of Trustees.

Flex Spending Account

If you were participating in the health care spending account or the dependent care spending account, your enrollment will continue until the end of the month in which you retire. If you have been reimbursed for more than you have contributed to the account, you will be billed for the difference. You may choose to continue contributions to the account by enrolling in Cobra coverage. However, be advised that these deductions will no longer be made with pre-tax payroll deductions. If you have questions concerning your flex spending account, please contact the Professional Benefits Group at 205-822-8310.

Tax Deferred Annuities

If you participated in the tax deferred annuities, you will need to contact your TDA provider for instructions on your payment options. The contact numbers for the providers are as follows:

Saturday 9am to 6pm EST

Vacation Time

STAFF: You will be paid your accrued vacation time upon retirement.

FACULTY: Please refer to the faculty handbook regarding vacation time.

Sick and Personal Time

Sick and personal time will not be paid out upon retirement from Samford.

Other Benefits

As a retiree you will be eligible for the following benefits: