When an employee terminates from the University of Iowa, it's important to know what will happen with your benefits. 

When will your benefits end?

Depending on your position category, active-employee coverages typically end at the end of the month in which you terminate. Please review the information below to confirm your expected end date of insurance.

FY faculty, p&s, merit, SEIU

Coverage will end on the last day of the month in which the employee is terminated from the University. 

AY faculty

Benefits for academic year faculty who terminate in May will end on Jun. 30th or Dec. 31 if terming at the end of the fall semester.

Employed graduate students

Coverage for grad students employed for the academic year or spring semester will terminate on Aug. 31. If the grad student terminates during a semester, coverage ends at the end of the month following termination. 

Last paycheck and payouts

The salary that you earned in your final pay period, along with any accrued vacation leave and qualifying sick leave, is generally disbursed on the pay date immediately following your last month of employment if all leave paperwork has been submitted. For example, if you terminate in November, your November salary, unpaid vacation, and qualifying sick leave, if eligible, will be paid on the Dec. 01 paycheck. 

Qualified sick leave: If you are 55 or older when terminating from the university, you can receive a payout of up to $2,000 of unused accumulated sick leave. To receive this payout, you must meet with a benefits specialist within 30 days of your term date to fill out the vacation and sick leave payout form.

Comp time, overtime, and shift differential: These payments are paid on the first biweekly paycheck following your final time record receipt. This final biweekly payment will be deposited into the account you have set up for your direct deposit. If the direct deposit account is inactive, a paper check will be sent to the last known address. 

Continuing benefits after leaving the University

There are some benefits that you may continue after leaving the University. 

Health and dental Insurance

You may continue your health and dental insurance coverage for up to 18 months. A COBRA packet will be sent to your home address. Please ensure your home address is up-to-date in Employee Self-Service or MyUI before you leave the University.

Life insurance

You may convert your coverage to a whole-life policy. Please find more information about conversion on our life insurance webpage.

Voluntary insurance

If you are enrolled in a voluntary insurance program such as long-term care or voluntary vision insurance, you should contact that insurance company directly to review your options of continuing coverage or when your coverage will end.

Flexible spending accounts (FSA)

You may continue to request reimbursements for expenses that were incurred up until the end of the month in which you terminated. You will have until April 30 to submit eligible expenses.

If you are enrolled in the Health Care FSA, HealthEquity will shut off the Visa card for that account on your termination date. To request reimbursement, you must submit through the online portal or mobile app. 

Your mandatory retirement plan after leaving


No matter when you leave IPERS-covered employment, you are always entitled to 100 percent of your contributions and interest earnings. If you are vested, you can receive a portion of your employer’s investment based on your years of service. 


To read about the potential advantages and disadvantages of any of the four options below, please visit the TIAA website for more information.


1. Leave your funds with IPERS. Leave your money with IPERS until you receive retirement benefits, return to IPERS-covered employment, or choose another alternative.

  • Your money will continue to earn interest.
  • You will not have to do anything with your account until you are ready to take action.

2. Roll your money over to another retirement plan. To roll over funds to another plan, you must take a refund, ending your IPERS membership. You must withdraw 100% of your funds. 

  • Two ways to complete a rollover. Fill out the Application for IPERS Refund (available in your IPERS My Account).
    • Direct Rollover
      • Confirm that your new plan accepts funds from the 401(a) IPERS account and to whom the rollover check should be made payable. IPERS will then send your rollover check directly to that institution on your behalf.
      • If you make a direct rollover, you can avoid mandatory income tax withholding, defer income tax liability, and, if applicable, avoid a 10 percent early-distribution tax.
    • Take your refund from IPERS and send money yourself to another retirement plan.

3. Take a refund. Please complete the Application for IPERS Refund (available in your IPERS My Account) only after leaving all employment with an IPERS-covered employer. You must withdraw 100% of your available money.  

  • Please note that if your new job is still an IPERS-covered employer, your IPERS participation will continue automatically, and you cannot take your money out of IPERS at that time.

The refund value of your IPERS account includes your contributions, any employer contributions you are entitled to, and interest earnings. You must be vested to receive any of your employer's contributions. 

IPERS will issue your rollover payment or cash refund within two to three weeks of receiving your completed application. 

Important things to consider before taking a refund:

  • If you later return to IPERS-covered employment, you will be enrolled as a new member without credit for any service before the refund. 
  • Once you file for a refund, you cannot work in IPERS-covered employment for 30 days after leaving employment, or your refund will be revoked. If you return before 30 days have passed, you must pay back your refund within 30 days of notification from IPERS. 
  • Your IPERS refund is taxable income if paid directly to you (instead of being rolled over). 
    • If you are an Iowa resident, IPERS will automatically withhold 20% of the taxable portion for federal income taxes plus an additional 5% for state income taxes. 
    • If you receive your refund before age 59 ½, you may be responsible for an additional 10% early-withdrawal tax penalty. It's recommended to visit a tax advisor before applying for a refund. 
    • IPERS will send you an IRS Form 1099-R in January, the year following your rollover or refund. 


  1. Leave your money in your former employer's retirement plan and continue to have the opportunity for tax-deferred growth. 
  2. Move your money directly into an individual Retirement Account (IRA).
  3. Move your money directly into your new employer's retirement plan.
  4. Withdraw your money in cash. 
    • 20% federal income tax withheld; state taxes may apply as well. 
    • Distributions will be taxed as ordinary income when you file your taxes.
    • A potential 10% early withdrawal penalty may apply if you are under age 59½.

Request for a refund should not be made until after termination of employment.
Termination of employment means you no longer receive any form of salary or wage compensation from the University of Iowa eligible for TIAA contributions. Please be aware that TIAA will only grant a refund request approved by the University of Iowa. 

When applying for a refund or to move your funds from TIAA, the former employee will need to:

  1. Log in to their online TIAA account
  2. In the top horizontal menu, select the "Actions" tab
  3. Under the "Retirement plans" section,
    1. To request a refund/withdrawal of funds, select the link labeled "View available loans & withdrawals" and complete the following steps.
    2. If you want to move your money from TIAA, select the link labeled "Move money from TIAA" and complete the following steps. 

Upon receipt of your request for a refund, TIAA will send you a computer-generated letter. The University sends a monthly file of terminations on the first business Monday of each month. It will then take three to four weeks until your refund is completed.

System Access

Your department will revoke your access to computer networks, systems, door access, email accounts, and passwords at the end of your last day. 

HawkID and Employee Self-Service

Your HawkID will remain available for up to 22 months to allow you access to various services, including Employee Self-Service. This will allow you to download important tax documents, update your address, and anything else you need. ITS recommends that you continue to update your HawkID password when you are notified that it will expire. If you experience difficulties with accessing Employee Self-Service or your HawkID access, please contact ITS at 319-384-4357 during business hours.

Office 365 Email Accounts and other tech services

Mailboxes for faculty and staff remain open for 17 days after termination. The mailbox will be deleted 30 days after the mailbox is closed. Access to Office 365 Software closes immediately when your appointment with the university ends. Please visit the ITS website to review other tech services after leaving the university.


Contact Parking and Transportation at 319-335-1475 regarding your parking permit or vanpool.

UI Athletic Tickets

For questions regarding your UI Athletic tickets after termination, please contact the Athletic Office at 1-800-IA-HAWKS. 

Unemployment Insurance

Unemployment insurance is a benefit to eligible, unemployed individuals under the provisions of Title III, Subtitle 2, Chapter 96 of the Iowa Code (Iowa Administrative Code). Benefits are paid from a centrally located state fund supported by payroll tax levied on the University of Iowa. Claim and benefit eligibility is determined by the Iowa Workforce Development Department (IWDD). To file for unemployment benefits, please visit the Iowa Workforce Development website or contact your nearest Workforce Development Center.