Termination of Employment
Termination of employment with the Commonwealth means:
- Plan contributions are discontinued to a participant’s account;
- Participants are eligible to draw benefits from the plan at any time;
- RP insurance coverage typically stops at the end of the month during which the last contributions were made;
- Participants may convert their (ORP) disability and/or group life insurance to individually-owned policies.
Participants who terminate employment with the Commonwealth may:
- Maintain their assets in the plan;
- Take distributions from the plan, subject to the plan’s provisions;
- Transfer assets between Providers;
- Roll other plans’ assets into the ORP.