Human Resources > Staff FAQ

Staff FAQ

2019 Early Retirement Incentive Program Questions and Answers for Staff

In order to receive the incentive payment and benefits outlined for you in your early retirement program package, you will be required to sign a Severance Agreement and adhere to the deadlines outlined in your materials.
No, a notary signature is not required on your Severance Agreement. You may have it notarized if you wish, but it is fully enforceable without the notary signature.
You will be paid through your separation/retirement date and will receive your last regular pay check on Friday, July 5, 2019.
Your incentive payment will be paid by Friday, July 12, 2019.
No, the incentive payment will be made as a single lump sum payment by Friday, July 12, 2019.
Yes, you will receive payment for your full vacation accrual for 2019, plus any carryover from 2018, less any vacation days taken prior to the date of your retirement. This payment will be made on or after your last paycheck, in accordance with the vacation policy.
Unused sick days and floating holidays will not be paid out.
Dental and Vision benefits end the last day of the month in which your employment with DePaul University terminates. Medical benefits may be continued through the Retiree Medical Program, if you are eligible and elect to enroll in the Retiree Medical coverage. View Understanding DePaul’s Retiree Medical Plan for retiree medical eligibility. All other benefits end the day your employment terminates. There may be options available to convert certain benefit options. Refer to your individual Early Retirement Incentive Program materials and the Retiree and COBRA sections of the Human Resources website for additional information, go.depaul.edu/benefits.
Medical benefits may be continued through the Retiree Medical Program if you are eligible for the program and enrolled in a DePaul medical plan when you retire. View Understanding DePaul’s Retiree Medical Plan for retiree medical eligibility. An additional option available is the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), which provides you with the ability to continue your health benefits (medical, dental, vision and health care flexible spending account) for up to 18 months. COBRA information, including how and when to enroll, will be sent to your home address within four weeks of your last day of employment. For additional questions related to the Retiree Medical Program, contact DePaul’s Benefits Department at 312.362.8232 or hrbenefits@depaul.edu.
For questions related to COBRA continuation of health benefits, including Dental, Vision, and Health Care Flexible Spending Accounts, contact WageWorks at 877.722.2667 M-F 7am-7pm CST. You may also contact DePaul’s Benefits Department at 312.362.8232 or hrbenefits@depaul.edu.
No, the incentive payments are not eligible for employee contributions or the employer match.
If you are enrolled in the 403(b) Plan, your elected contributions and match will be taken on your final regular paycheck. All employee contributions and university match are fully vested. Upon termination from the University, if your 403(b) Plan balance is over $1,000, you may leave the balance invested in the plan, or you may request a distribution. Contact your fund sponsor (Fidelity and/or TIAA) directly to review your account balance and discuss your distribution options.
Employees who terminate from the University and have an outstanding loan balance will continue to be responsible for making loan payments.  Payments will continue uninterrupted via the method and frequency the employee established with the fund sponsor.  Outstanding loan balances can be fully repaid at any time with no penalties.  Any prepayments will reduce the dollar amount of the future payments, but not the number of payments due.  Employees with outstanding loan balances should contact Fidelity or TIAA if they have further questions.
Limited access to the Self-Service function (for address changes) will continue after your separation. You will not have access to the shared drives or folders, or other university owned software after your retirement.
Access to your email will end as of your last day of employment, unless you request continued access to your DePaul email account as a retiree. You can elect to continue email access on the Retiree Benefits Enrollment Form, which you will receive with your separation package.
Retirees may be ineligible for unemployment compensation due to: 1) the voluntary nature of the program, 2) the provision of the early retirement plan incentive, and 3) access or withdrawal of 403(b) retirement plan savings.

There should be no assumption that retirees will be able to return to a part-time position at DePaul after retiring under the Early Retirement Incentive Program.  After a 6 month break in service, staff members who retire under the Early Retirement Program, may be considered for re-employment by DePaul University in an adjunct faculty position if they have previously been employed by the university in that capacity.  Pay will be offered at the normal adjunct rates.

Rehire decisions will be made by the Dean with permission of the Provost on a case-by-case basis, and will depend on the College/Department’s needs and the individual’s qualifications.

However, you may not return to employment in:

  • A full-time staff position
  • A part-time staff position
  • A temporary position
  • A consulting position
  • A student employee position

All retirees must adhere to a waiting period before returning to teach and their teaching schedule must be managed to preserve their retiree medical eligibility before any consideration can be given to the re-employment of a retiree.  If a retiree would like to accept a part-time teaching position, s/he should consult with a tax or legal advisor to ensure that qualified plan distribution rules are not violated and that there are no impediments to taking a distribution from the 403(b) plan. S/he should also consult with human resources to ensure that s/he will not jeopardize retiree medical eligibility.

You may submit electronic versions of the signed Expression of Interest form and/or the Severance Agreement. However, you must follow up with an original signed version of the Severance Agreement.
Your incentive payment (including any unaccrued vacation) is taxable at the supplemental income tax rate. Supplemental wages generally have a flat rate of 22% withheld for federal tax and 4.95% for Illinois state tax (if applicable). The payment may also have Social Security and Medicare taxes withheld, depending on your income level and in accordance with withholding required by law and the University’s normal payroll procedures. Please consult your tax advisor to discuss the tax implications for your specific circumstances and situation.
For any questions not specifically addressed, please contact the DePaul University Human Resources Benefits Department at 312.362.8232.
The Incentive Payment is calculated using gross wages as reported in Box 5 of your 2018 W-2. Box 5 reflects Medicare Wages and Tips, and includes taxable earnings plus taxable benefits, minus pre-tax deductions other than 403(b) deferrals.
  • PART A – Hospitalization: You should apply for Medicare Part A 60-90 days prior to reaching age 65, regardless of whether you are retiring or still working.
  • PART B – Medical Services: You should apply for Medicare Part B 60-90 days prior to retirement, if you will be age 65 at the time you retire.
  • PART D – Prescriptions: If you are enrolled in a DePaul medical plan (active or retired), you should NOT apply for Part D.

This Income Related Medicare Adjustment Amount (IRMAA) is an additional amount you pay for your Medicare premiums, if your income exceeds the level established by Social Security. These additional premiums cover Part B and prescription benefits. Please click on this link for more details: https://www.cms.gov/newsroom/fact-sheets/2020-medicare-parts-b-premiums-and-deductibles

If you are under 65, you may continue PPO or HMO coverage as a retiree. Any CDHP participants will elect the PPO or HMO. Your covered dependents and spouse/SDA may also continue PPO or HMO coverage (depending on which plan you elect) as long as they are eligible and under age 65.

If you are age 65 or over, you may continue HMO coverage, but if you are enrolled in the PPO or CDHP, you will elect either the MAPD or the HMO. Any covered dependents and spouse/SDA who are Medicare eligible will be enrolled in MAPD or HMO (depending on which plan you elect), as long as they are eligible.

Your Dental and Vision benefits will end on June 30, 2019. You may elect to continue these benefits under the COBRA program, by paying monthly premiums to WageWorks. Visit the Retiree Benefits Transition page for more details. You may choose to purchase your own coverage on the open market, and there are many carriers that offer individual vision and dental insurance plans.
The MAPD plan includes prescription medications detailed on the plan’s Medicare Formulary and a Supplemental Drug List, which is periodically reviewed and adjusted by Medicare and BCBS. Please check these formulary lists to determine if your current prescriptions are covered under the plan, or call BCBS’s MAPD customer service Monday-Sunday, 8am-8pm: 1-877-299-1009.
Under the MAPD, any medical provider or physician who accepts Medicare assignment will accept DePaul’s MAPD insurance It is important to note that DePaul’s MAPD plan is a custom group plan.  It is not an individual Medicare Advantage policy. This is an important distinction in terms of your access to services so please present your DePaul MAPD BCBS ID card when seeking medical services. To determine if a doctor accepts Medicare, visit www.medicare.gov or call BCBS’s MAPD customer service Monday-Sunday, 8am-8pm: 1-877-299-1009.
Tuition Waiver benefits will continue for eligible retirees, as well as their eligible spouses and children, as outlined in the Tuition Waiver policy. Tuition Exchange Program scholarships that were awarded prior to retirement will continue for the duration of the award. Visit the Tuition Exchange Program guidelines for more details.
Visit the Social Security website for more information: https://www.ssa.gov/benefits/medicare/. You may be able to apply on-line in certain circumstances, or visit your local Social Security Office. You can apply for Medicare before applying for Social Security retirement benefits. In general, employees enroll in Part A 60-90 days before attaining age 65, and should enroll in Part B 60-90 days prior to retirement. You will need to enroll in both Parts A & B effective July 1, 2019, to coordinate with our Medicare Advantage Plan benefits.
In order to reach the maximum deferral limit of $19,000 plus $6,000 for Age 50 Catch-up contributions, you can defer up to 100% of your eligible pay prior to your retirement date. Visit NetBenefits to log into your account and view your deferral rate, or make changes. You can also request assistance with calculating your savings rate by emailing hrbenefits@depaul.edu.
No, you must be in the office on the last business day prior to your retirement (June 28th) in order to retire effective June 30, 2019.