Dental and Vision Coverage
Coverage through the College’s Group Dental Plan terminates the last day of the month upon retirement. However, retired employees and their dependents may continue their coverage temporarily, generally for up to 18 months through COBRA, by paying the full premium equivalent plus a 2% administrative fee.
Health Reimbursement Account (HRA)
Employees enrolled in the Highmark PPO High Deductible Health Plan immediately prior to retiring will retain his/her HRA balance. Although no additional funds will be deposited into the HRA following retirement, any unused balance will remain in the account and may be used by the retiree and his/her eligible dependents for reimbursement of eligible medical expenses for a period of 4 years from retirement date.
For more information on what eligible expenses are, and to access your account balance, please review the Health Reimbursement Account (HRA)
Flexible Spending Account Plans (Medical and Dependent Care)
Participation in the Flexible Spending Accounts ceases upon retirement. Participants may submit claims for eligible, unreimbursed expenses incurred through their retirement date to Highmark through March 31 of the year following retirement (for example, if you retire July 1, 2018, you can submit claims through March 31, 2019).
A retiring employee may choose to continue his/her participation in the Flexible Spending Accounts through the current calendar year by making after-tax contributions to his/her account. WageWorks, our COBRA administrator, will send notice of this option to terminating participants.
Long-term Disability Insurance
Coverage under the College's Long-term Disability Insurance Plan ceases upon retirement.
Upon retirement, full-time professional staff employees will receive payment for earned but untaken vacation hours for full pay periods worked during the fiscal year. Professional staff will also be paid for any vacation hours they carried over from the prior fiscal year but did not use before their retirement date, up to a maximum of 40 carry over hours.
Professional staff retiring at the end of the fiscal year (June 30) may be paid for up to a maximum of 40 unused vacation hours that could have been carried over to the next year.
Paid Sick Leave
Eligibility for paid sick leave ceases as of the last actual day of work. There is no payment made for unused sick days upon retirement.
Education Benefits for Retirees and their Dependents
A member of the faculty or professional staff who meets the College’s definition of a benefits-eligible retiree is eligible for tuition benefits during retirement. Please review the Education Benefits for Retirees webpage.
Pre-retirement Counseling / Employee Assistance Program
Through the College’s Employee Assistance Program (EAP) , full-time employees may access pre-retirement counseling. Trained counselors can help future retirees formulate a step-by-step, individualized retirement plan. EAP services focus on assessing emotional readiness for the transition to retirement, providing support and planning for a successful transition, identifying any problems and stressors, discussing how roles and relationships may change, discussing use of time and money, providing support for those with challenging health concerns, and helping to identify community resources.
Use of Facilities
Retired College employees may continue to use the College libraries and the Alumni Sports & Fitness Center and receive free admission to many College events.
ID Card / Parking Permit
Retiring members of the faculty and professional staff may visit the Franklin & Marshall College Auxiliary Services office for a retiree identification card and a parking permit.
Retired members of the faculty and professional staff may retain their College email account for life.