Collin College Important Exit Information
Important Exit Information
- Exit Notification Procedure
- Final Pay Check
- Vacation Pay
- Comp Time/Over Time
- Sick Time/Personal Time
- Medical/Dental Insurance
- COBRA Information
- Group Life/AD&D Coverage/Voluntary AD&D
- Teachers Retirement System (TRS)
- Texas Optional Retirement Program (ORP)
- Tax Sheltered Annuity (TSA)
- Change of Address
Exit Notification Procedure
Professional written notice of at least two weeks for staff and four weeks for administrators is expected. The final day of employment will be the last actual day worked; it may not be a day of leave.
Employee Exit Packet & Required forms
Final Pay Check
Your final paycheck (for time worked through your last day of work) will not be direct deposited; it will be a live check. NOTE: All Collin College employees are paid current; there is no lag in pay. If you fill out a time sheet, your final check will only reflect hours worked during the month of your separation and will not include any regular hours listed on your time sheet that occurred during the prior month. The check will be mailed to the address you have on file with Collin College on the last working day of the month of separation. For example: If your final time sheet is for January 15th through February 16th, you would have already been paid for January hours; therefore, your final check will only include hours worked in February and will be mailed to you on the last working day of February. Annual staff compensation is normally based on an employment period of 261 days. Final pay is prorated based upon the actual days worked by the terminating employee if the employment period is not completed.
You will receive a check for unused earned vacation time (up to 80 hours of rolled over vacation time, plus any unused vacation earned for the current fiscal year) on the last day of the next month following separation. (For example, if your last day worked is January 16th, the check for vacation pay will be mailed to you on the last working day of February.)
Comp Time/Over Time
You will receive a check for any unused comp time and/or over time due on the last day of the next month following separation. (For example, if your last day worked is January 16th, the check for comp time and/or over time will be mailed to you on the last day of February.) Please note that if you are owed both vacation pay and comp time and/or over time, they will be on the same check.
Sick Time/Personal Time
Collin College does not pay out any unused sick or personal time.
Your medical and dental coverage will end on the last day of the month of separation, provided all premiums have been paid. For example, if your last day worked is January 16th, your medical and/or dental coverage will end on January 31st.
All COBRA information will be sent directly to your home address by ERS. COBRA rates can be found on the ERS website. If you have questions regarding COBRA benefits prior to receiving this information, contact ERS at (877) 275-4377.
Group Life/AD&D Coverage/Voluntary AD&D
Your group life, AD&D and Voluntary AD&D coverage will terminate on the last day of the month of termination.
Teachers Retirement System (TRS)
If you choose to withdraw your TRS account, please download the form at http://www.trs.state.tx.us/reporting/forms/form_6.pdf You must complete the form and have it notarized and return it to the Collin College Human Resources Department. (NOTE: If you withdraw your account by receiving a refund, you will end your membership in TRS. By ending your membership, you lose your service credit and forfeit any retirement benefits that you have accrued and may affect your eligibility for ERS retiree insurance. It is important that you fully understand the TRS and insurance benefits that you are waiving. Therefore, if you have five or more years of TRS service credit, you must sign a form acknowledging that you are waiving all rights to future TRS retirement benefits.) If you have questions regarding your TRS account, please contact TRS directly at 1-800-223-8778 or visit the TRS website at www.trs.state.tx.us.
Texas Optional Retirement Program (ORP)
If you have an ORP account and have questions regarding available options, please contact Sandy Davis in the Collin College Human Resources Department at 972-599-3164 or email@example.com.
Tax Sheltered Annuity (TSA)
We advise you to contact your TSA vendor to discuss your account options.
Change of Address
If you have a change of address, please complete and return the Change of Address Form to Human Resources to ensure that you receive all paychecks, and COBRA information. Please notify us in writing if your address changes in the future to ensure receipt of W-2s, and other important information. Notices must be dated and signed.