If your employment with the city ends due to resignation, dismissal, furlough, or any other reason for separation, we've compiled the following information to help you tie up any loose ends.
When Benefits Coverage Will End
Your benefits coverage ends at the end of the month in which you work your last full day.
Once your employment with the City ends, you have the option to continue your benefits coverage through COBRA. You will be responsible for the full cost of your coverage, and coverage can last up to 18 months (longer under certain circumstances). You may enroll any of the dependents you had listed while an active employee.
You will receive a certified letter listing your options within in two weeks of your last day of employment, and you'll have 60 days to return your signed letter to the benefits division. Upon receipt of your first payment, your coverage will be reinstated effective the first of the month following your last day of employment.
Unused Vacation and Sick Time
Upon separation from the City, you will be paid for the unused portion of your accumulated vacation leave, provided that you have completed six consecutive months of eligible service with the City.
Employees who have been with the City for five years or more will also receive a payout of accrued sick time. For more information about paid leave, or leave payouts, including the payout formula, please see Rule 10.
Pension and Retirement Plan
If an active employee terminates employment prior to being vested (ineligible for a retirement benefit), his or her 2% contribution, plus 3% interest, will be refunded in a lump sum. As an alternative, the terminated employee may roll over this 2% contribution and 3% interest to a qualified retirement plan account. Upon the acceptance of a refund, the terminated employee forfeits all years of service and any future retirement benefit eligibility. However, the terminated employee who returns to employment will receive credit for the years of service forfeited by repaying the original fund, plus interest.
If an active employee terminates employment and is vested (eligible for a retirement benefit) the contribution will not be refunded. Instead, the contribution will be used to fund his or her future retirement benefit. If you have other questions about your retirement benefit you need to contact the Denver Retirement Board at 303-839-5419.
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