- Reduction in Force
- Exit Procedures
- Extension of Benefits
- Retirement Plan
- Optional Early Retirement Plan
To resign in good standing with eligibility for rehire, employees are expected to submit a written resignation to their immediate supervisor at least two (2) weeks prior to the planned separation date. Exempt employees who intend to resign in good standing are expected to give at least one month (1) notice in writing to their supervisor.
Resignation letters should include the employee’s reason for separation, effective date of separation, and the employee’s forwarding address. If a former employee is rehired by the Institute, the hire date for the calculation of benefits will be the date of rehire. Human Resources must be notified of the resignation as soon as possible so necessary paperwork can be completed, final payroll arrangements can be made, and an exit interview with the Director of Human Resources can be scheduled.
By Indiana law, employees of Rose-Hulman Institute of Technology are employees “at will” which means the Institute has the right to terminate employees at any time with or without reason or notice.
Termination is not a step in performance counseling. It is a personnel action taken when the corrective action steps to improve performance or behavior have failed. It is also an action that may be necessary without prior notice when a major act of misconduct has occurred (See Section 8.00 Corrective Action Procedure and Appendix 11 for definitions).
The supervisor must inform the next level supervisor and Human Resources before discharging an employee. Reasons for termination will be documented on a Personnel Action Notification Form (See Section 8.00 Corrective Action Procedure & Appendix 12).
9.03 Reduction in Force
The Institute strives to provide stable employment for employees. In the event that a reduction-in force is necessary, the Institute commits to a fair process for identifying those affected, and to provide reasonable support to facilitate the transition to other employment. The Corrective Action Procedure does not apply to reduction in force.
9.04 Exit Procedures
Return of Institute Property
Employees leaving the Institute are requested to attend an exit interview with Human Resources. Institute keys, identification cards, telephone cards, and any other Institute property issued to employees or dependents are to be returned during this interview. If the separating employee does not complete the exit interview, the supervisor must collect Institute property and forward to Human Resources. Institute property, such as uniforms, tools, laptop computers, calling cards, RHIT ID cards, palm pilots, equipment etc., must be returned to the supervisor with notification to Human Resources prior to issuance of the final pay. Computer accounts and voice mail accounts are terminated on the day of separation from employment.
Separating employees will normally receive final pay on the next regularly scheduled pay date following separation. This pay will include any unused vacation leave up to 25 days as of the separation date (See Section 5.12 Leaves of Absence).
9.05 Extension of Benefits
COBRA Continuation Coverage
A covered person who has a qualifying event will become a qualified beneficiary and may elect to continue coverage in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, referred to as COBRA.
For further information regarding COBRA, refer to the COBRA section of the Health Benefits Plan booklet available from Human Resources.
Retirement Account Accumulations
Upon leaving the Institute for reasons other than retirement, employees have several options available for management of retirement account accumulations. These options will be presented during the exit interview or by contacting the Benefits Coordinator in Human Resources.
9.06 Retirement Plan
Retirement from the Institute normally occurs when employees reach their 65th birthday, or on the last day of the fiscal year in which age 65 is attained. The Institute also offers an Optional Early Retirement Plan (See Section 5.07 Retirement Plan and 5.08 Optional Early Retirement Plan).
9.07 Optional Early Retirement Plan
The Institute offers an Optional Early Retirement Plan. Participation in the Plan is voluntary. (See Section 5.07 Optional Early Retirement Plan).