The payment will be taxed at the supplemental rate, which is 22% for federal, 3.5% for state, Medicare of 1.45% and local tax if you currently have it taken out. Retirement will not come out of the payment.

Yes, you can log in to the DocuSign platform to view and track the status of your VFSIP documents. To do so, follow these instructions:

Yes, but you must click on “Finish Later” under “Other Actions” within the DocuSign platform while you have the form open in order for it to save your progress. See question and answer # 16 (XVI) below if you need instructions for returning to your document.

All eligible employees will continue to receive the tuition waiver benefit for four (4) years following the employee’s exit date (e.g., June 30, 2021). For specific questions related to Tuition Waiver benefits, contact the university benefits office at 330-672-3107, or benefits@kent.edu.

Employees participating in a Flex Spending Account have 30 days from their separation date to use available funds in their Flex Spending Account. For specific questions related to Flexible Spending benefits, contact the University Benefits office at 330-672-3107, or benefits@kent.edu.

Eligible Employees and their eligible dependents that are not eligible for Medicare, will be able to continue their university-sponsored health plan under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Once your election for the VFSIP is processed, you will receive a separate mailing from Chard Snyder, the COBRA Administrator, advising how to enroll and where to submit the employee portion of the COBRA healthcare cost. Please also note the following:

Per administrative policy 6-11.7, vacation payouts will be made during the next payroll disbursement after separation from the university. Those employees who are eligible will receive their balance up to up to a maximum of three (3 times) their annual accrual rate according to policy 6-11.7.

Sick leave will be paid out according to policy 6-11.1. If you are eligible for a payout of your sick time due to retirement the amount of sick leave you are eligible for, according to policy 6-11.1, is one-fourth of your balance up a maximum of 30 working days. You will need to complete the appropriate form to request a payout of your sick time.

You can choose one of the following schedules to receive payment:

a.    A lump sum payable on or about the fifteenth of the month following separation ; or
b.    Four (4) monthly payments made on or about the 15th or the month for each of the four months following separation

You will make this election when you complete your VFSIP election forms.

Yes.  If all of the required documentation is signed and returned within the Window Period, the eligible faculty member shall have seven additional days from the date of signing the Enrollment and Waiver of Claims forms to revoke participation in the program.  A decision to revoke an election to participate in the Plan must be made in writing or email submitted to Human Resources Attn: Jack Witt, Heer Hall, KSU, Kent, OH, 44242, (hrweb@kent.edu) within the seven-day revocation period.