Human Resources > FAQs for Retirement-Eligible Staff

FAQs about VSIP for Retirement-Eligible Staff

To support eligible participants, information sessions were offered on April 10 and 11. Each session covered the program details, health benefit coverage, the 403(b) retirement plan, and an overview of financial considerations.


Click here for a copy of the presentation for retirement-eligible staff.


You will be paid through your separation date (June 30, 2023) and will receive your last regular paycheck on Friday, July 14, 2023.

Your incentive payment will be made on Friday, July 21, 2023.

No, the incentive payment will be made as a single lump sum payment on Friday, July 21, 2023.

The incentive payment is calculated using gross wages as reported in Box 5 of your 2022  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.

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). A different state tax rate may apply, depending on tax residency and location where services for the university are performed. 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.

Yes, you will receive payment for your full vacation accrual for 2023, plus any carryover from 2022, less any vacation days taken prior to the date of your separation. This payment will be included with your incentive payment on Friday, July 21, 2023. 

No, you must be in the office on the last business day prior to your separation date (June 30, 2023).

Unused sick days, floating holidays, and summer hours will be forfeited and therefore not be paid out upon separation. 

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 the 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. 

•  Fidelity: (800) 343-0860 or 

•  TIAA: (800) 842-2776 or 

Employees who separate 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. 

•  Fidelity: (800) 343-0860 or 

•  TIAA: (800) 842-2776 or 

In order to reach the maximum 2023 deferral limit of $22,500, you can defer up to 100% of your eligible pay prior to your separation date. (If you are at least age 50, you can defer an additional $7,500.) Visit to log into your account and view your deferral rate or make changes. You can also request assistance with calculating your savings rate by sending an inquiry to the Benefits Team.

Contributions to a Healthcare FSA will stop as of your last paycheck. Eligible Healthcare FSA claims can be incurred through the end of the month in which you terminate. Under COBRA rules, you may choose to continue to participate in the Healthcare FSA after separation. Contributions will be made on an after-tax basis. 

The dependent care flexible spending account ends on your separation date (June 30, 2023) and cannot be continued through COBRA. Although you cannot make any further contributions to the plan after your final paycheck, you may continue to submit the eligible expenses that were incurred prior to your last date of employment for up to 90 days proceeding your last day of employment.  More detailed information can be found in the Flexible Spending Account SPD.

Participation in the Transportation Program ends on your separation date (June 30, 2023). If you made contributions into a parking account and have a remaining balance at the time you leave the University, you can continue submitting claims through the end of the plan year in which you separate. Contact HealthEquity/WageWorks at (877) 924-3967 for additional details.

Your coverage for life insurance ends at 5:00 p.m. on your separation date (June 30, 2023). However, you do have the option to convert or port your life insurance coverage. 

When you convert coverage, you switch to an individual insurance policy. When you port coverage, you switch to a group-like plan maintained by the insurance company. Evidence of Insurability is not required for conversion or porting.

You have 31 days from the date your group coverage terminates (your separation date) to apply for insurance conversion or porting with The Hartford and pay your first premium. Please contact the Benefits Team at (312) 362-8232 or send an inquiry to the Benefits Team as soon as possible if you would like conversion and/or portability paperwork sent to you.

Group accidental death and dismemberment (AD&D) insurance coverage, if you elected it, will end at 5:00 p.m. on your separation date (June 30, 2023). This coverage is not available for conversion or porting by separating employees.

The Long-Term Disability coverage will end at 5:00 p.m. on your separation date (June 30, 2023). You have 31 days from the date your group coverage terminates (your last day of employment) to apply for insurance conversion with The Hartford and pay your first premium. Please contact the Benefits Team at (312) 362-8232 or send an inquiry to the Benefits Team as soon as possible if you would like conversion paperwork.

Participants may be ineligible for unemployment compensation due to: 1) the voluntary nature of the program, 2) the provision of the voluntary separation incentive, and 3) access or withdrawal of 403(b) Plan savings. 

Retiree-eligible employees who are enrolled in Medical coverage will be offered the Retiree Medical Plan at no cost for 2023. For employees and dependents under age 65, DePaul offers the PPO and HMOIL plans. For employees and dependents who are age 65 or over, DePaul offers a Medicare Advantage plan (MAPD ) and HMOIL. The chart below illustrates coverage based on the retiree-eligible employee’s current medical plan: 

Retiree Options Mapped coverage Other options
Currently Enrolled in HMOIL under 65 HMOIL PPO
Currently Enrolled in HMOIL over 65 HMOIL MAPD
Currently Enrolled in PPO under 65 PPO HMOIL
Currently Enrolled in PPO over 65 MAPD HMOIL
Currently Enrolled in CDHP under 65 PPO HMOIL
Currently Enrolled in CDHP over 65 MAPD HMOIL

Note: Coverage for dependents may be different than the employee offering.

Visit the Human Resources website for DePaul’s Retiree Medical Program resources.

Your dental and vision benefits will end on June 30, 2023. You may elect to continue these benefits under the COBRA program by paying monthly premiums to HealthEquity/WageWorks.  Details about cost can be found on the 2023 COBRA Rate Sheet for Dental and Vision

You may choose to purchase your own individual policy. Individual policies are not part of the DePaul University Retiree Medical Plan or any other health benefits coverage sponsored by the University. If you decide to purchase an individual policy, the provider will perform all enrollment, billing and claims processing related to your coverage.

•  For dental coverage, visit the Delta Dental website or call (844) 847-9516 for cost and complete details.

•  For vision coverage, visit the VSP website or call (855) 782-9877 for cost and complete details.

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 the formulary list to determine if your current prescriptions are covered under the plan, or call BCBS’s MAPD customer service Monday - Sunday, 8 a.m. - 8 p.m., at (877) 299-1009. Watch this presentation from BCBS for details about the 2023 MAPD program.

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 or call BCBS’s MAPD customer service Monday - Sunday, 8 a.m. - 8 p.m., at (877) 299-1009. Watch this presentation from BCBS for details about the 2023 MAPD program. 

For complete details about Medicare, visit the Social Security website. You may be able to apply online in certain circumstances or visit your local Social Security Office. You can apply for Medicare before applying for Social Security retirement benefits. 

•  PART A – Hospitalization: You should apply for Medicare Part A at least 60 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 at least 60 days prior to retirement, if you will be age 65 or older 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.

To coordinate with our Medicare Advantage Plan benefits, you will need to enroll in both Parts A & B effective July 1, 2023. 

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. More details about IRMAA can be found at the Centers for Medicare & Medicaid Services website.

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 until completion of current degree. For more details, review the Tuition Exchange Program Guidelines.

Retirees have limited access to BlueSky. 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.

No, the complexity of wiping the devices to remove DePaul data and DePaul licensed software is too complicated a task to achieve in such a short time. Devices should be returned to your supervisor.

In most cases these requests can be accommodated with supervisor approval. Employees should email Laurie Krauel in Procurement at and CC their supervisor. 

A retiree ID card can be obtained by visiting a Blue Demon Card office (ID card services) any time after active employment has been discontinued. Blue Demon Card offices are located at the Lincoln Park Campus (Student Center, Room 109, 2250 N. Sheffield) and the Loop Campus (DePaul Center, Room 9200, 1 E. Jackson Blvd.) and are generally open on Monday - Thursday from 9 a.m. to 5 p.m. Questions related to Blue Demon Cards can be directed to the Help Desk at or (312) 362-8765.

After a 6-month break in service, staff members who participate in the VSIP 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 student employee position

You also may not be hired as an individual contractor.

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, the retiree 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. The retiree should also consult with Human Resources to ensure that they will not jeopardize retiree medical eligibility.

You may submit electronic versions of the signed Expression of Interest form. 

To submit the Severance Agreement and General Release, an original signed version will need to be submitted in person or by mail to the Office of Human Resources no later than 5:00 p.m. on June 8, 2023. The Office of Human Resources is located in the Daley Building, Suite 1300, 14 East Jackson Blvd.

No, a notary signature is not required on your Separation Agreement. You may have it notarized if you wish, but it is fully enforceable without the notary signature.

Employees have seven days after signing the Severance Agreement to revoke their decision. Notice of revocation must be in writing and delivered to the Office of Human Resources no later than 5:00 p.m. on the seventh day after signing.

Yes. If you plan to participate in VSIP and retire from the University on June 30, you will need to complete all performance appraisals for your direct reports. Failure to do so may delay your severance payout.

For any questions not specifically addressed, please contact the Benefits Team at (312) 362-8232 or send an inquiry to the Benefits Team.