We greatly appreciate your dedicated service and loyalty to our company. You might not know this, but we are aware of all your efforts and hard work, and we cannot thank you enough. We value all your sacrifices in helping us grow to where we are today. We have outlined several areas where we can assist you with your transition.

 

Employment Termination Types

Please review the termination types below and select the area that applies to you for more information.

 

I have been employed

I have been employed

I have been employed

Employee Status

1-5 Years

6-9 Years

10+ Years

I am an Active Employee contributing to Pension

Refund or Rollover of Pension Contributions

Refund or Rollover of Pension Contributions

Option for Retirement or Refund/Rollover

I am an Active Employee contributing to Social Security

Refund of Pension Supplemental -401A

Refund of Pension Supplemental -401A

Option for Retirement or Refund/Rollover

I am a Part-Time Employee

No Action is Needed

No Action is Needed

No Action is Needed

 

How Should I Start?

                      • Determine the date that you are resigning or retiring

                      • Notify your management

                      • Give at least a two weeks’ notice (if possible)

                      • Write a formal letter of resignation & confirm that it has been received

                      • Notify your HR Liaison & inquire on how many final hours of pay to expect from unused vacation, bonus, or sick time. Unused time is typically paid out as a lump sum.

                      • Request an exit interview

                      • Turn in all City of Memphis equipment (Failure to turn in all City of Memphis equipment can result in the withholding of your final paycheck or legal actions)

How Do I Find Out If I Have Any Benefits Left?

Contact the Total Rewards Benefits Service Center at (901)636-6800 or schedule an appointment(Click here) with a member of the team to discuss your eligibility of post-employment benefits and to determine if you are eligible for any refunds of your pension or pension supplemental contributions  

                      • As a Pension Employee- You can receive your pension contributions in a lump sum/rollover or as an annuity if you have contributed 10+ years into the pension plans

                      • As a Social Security Employee– You will receive any unused pension supplemental benefits that you have contributed (457 plan) and/or has been contributed on your behalf by the City of Memphis(COM)

 

Please note that if you have contributed to the Deferred Compensation Plan(457), you can roll it over to your new employer’s 401(k) or an IRA that you own. You can also cash it out, but that has steep tax consequences. You may also be able to continue life insurance. The City of Memphis voluntary life plans have a portability clause, meaning that you can take it with you and continue to pay after employment ceases with the COM. Make sure to ask your Total Rewards team member about your options.

 

I have been employed

I have been employed

I have been employed

Employee Status

1-5 Years

6-9 Years

10+ Years

 

I was Involuntarily Terminated

 

Refund or Rollover of Pension Contributions

 

Refund or Rollover of Pension Contributions

Option for Retirement or Refund/Rollover

*Retirement options are based on the reason you were involuntarily terminated

 

What are examples of Involuntary Termination?

There are 2 types of involuntary terminations.

            • With cause

            • Without cause

Involuntary Terminations without cause can include:

            • Abolished Position with no other work placement option

            • Layoffs and Downsizing

            • Firing

            • End of Contract or Appointment

Involuntary Terminations with cause can include:

            • Failure to perform work duties

            • Violation of a COM policy (Immediate termination is necessary if the policy violation is severe)

            • Disruptive or Unethical Behavior

            • Any host of infractions

 

What you should do for your Division

            • Notify your HR Liaison of your termination & inquire on how many final hours of pay to expect. Unused time is typically paid out as a lump sum.

            • Turn in all City of Memphis equipment (Failure to turn in all City of Memphis equipment can result in the withholding of your final paycheck or legal actions)

 

What are your next steps?

  • Contact the Total Rewards Benefits Service Center at (901)636-6800 or schedule an appointment with a member of the team via the scheduling portal (Click Here) on the Total Rewards website to discuss your eligibility of post-employment benefits and to determine if you are eligible for any refunds of your pension or pension supplemental contributions

  • As a Pension Employee- You can receive your pension contributions in a lump sum/rollover or as an annuity if you have contributed 10+ years into the pension plans

  • As a Social Security Employee- You can receive any unused pension supplemental benefits that you have contributed (457 plan) and/or has been contributed on your behalf by the City of Memphis(COM)

*Workers who are unemployed through no fault of their own (as determined under state law), and meet other eligibility requirements, may be eligible to receive unemployment benefits.

Click Here For More Information On How To Report A Death