Retirement Plan Information
Former employees of the university may choose to leave their retirement funds with their vendor or may be eligible for other options including withdrawal of funds or a rollover to a different qualified plan. You are advised to check with your vendor for all requirements and penalties that may apply.
Please contact your 403(b) or ARP vendor for distribution forms and requirements.
Please contact Ohio Deffered Comp at 1-877-644-6457 for distribution form and requirements.
Following retirement or separation of employment qualifying persons will receive a COBRA information packet from Chard-Snyder, UC’s COBRA Administrator. Eligible individuals will receive the COBRA packet approximately 2-3 weeks following the date coverage ends. The packet will be sent to the employee’s home address of record in the UC system.
To elect coverage continuation under COBRA, a qualifying person must complete the election form in the packet and return it to Chard-Snyder. Each qualified person has a separate right to elect continuation of coverage.
Qualifying persons have 60 days to elect COBRA continuation. This 60-day period begins on the later of these two dates:
- the date benefits end for the employee or dependent, or
- the date the employee or dependent is notified of his/her right to elect extended coverage.
- Qualifying persons pay the full cost of medical or dental coverage, plus a 2% administration fee. Here is the 2020 rate chart.
- After the initial COBRA election and payment, payment is due the first of each month with a grace period of 30 days. COBRA coverage will not be activated and the university’s medical and dental carrier(s) will not be notified until the first premium payment is received by Chard-Snyder.
- An individual who has elected COBRA may arrange an online billing account through Chard-Snyder
- Payment can be made using billing coupons. Contact Chard-Snyder to obtain the billing coupons.
- Disabled individuals may be able to continue coverage for as long as 29 months (18 months following separation of employment plus an additional 11 months). In this case, the cost will be higher for the additional 11-months of coverage. The cost during the 11 month period is 150% of the plan's cost at the time of the qualifying event for each person who extends coverage.