Remaining vacation hours will be paid out, normally on the next bi-weekly payroll after a final paycheck. Vacation lump sum payments may be deferred to a Texa$aver or TDA plan.
With supervisor approval, an employee can use available leave time and remain on the payroll through the end of the month. Use of leave time beyond the end of the month requires approval by the division vice president and the Executive VP for Finance & Administration. All leave requests must be submitted in LeaveTraq.
Vacation and Sick Leave are transferrable to another state agency.
Sick leave hours cannot be paid out at the time of departure per state law.
Sick leave balances can remain intact for 12 months.
Sick leave balances may be donated.
OPTION 1: Withdraw funds - taxes and penalties will be applied. This option requires the TRS 6 Form to be completed and signed in front of a notary.
OPTION 2: Roll funds over in to an eligible retirement plan. Taxes will not be withdrawn if you choose this option. This option requires the TRS 6 Form to be completed and signed in front of a notary.
OPTION 3: Leave funds intact. Individuals with five or more years of service can leave their funds intact until retirement age. Individuals with less than five or more years of service must decide what they want to do with their funds within two years of termination.
Form: TRS 6 Form
According to current Texas law, you may be eligible for group insurance benefits in the future as a retiree of The Texas A&M University System if:
- you were employed in a benefits-eligible position with the A&M System on Aug. 31, 2003, and:
- you were employed by the A&M System in a benefits-eligible position after Aug. 31, 2003, and:
* An intact TRS retirement account is one that has not been withdrawn. An intact ORP retirement account is a 403 (b) account containing funds that can be tied to your Texas ORP account. The 403(b) account must meet the vendor's minimum balance requirement. An Individual Retirement Account(IRA) is not a 403(b) account.
If you left employment with the A&M System prior to meeting the above criteria, you may apply for coverage within 60 days of meeting the eligibility criteria listed above or within 60 days of leaving a TRS-eligible position with another state employer after meeting the eligibility criteria. Your coverage may begin on the first of the month following the date the Human Resources office receives your application or on the first of the month following the 90th day after the date the Human Resources office receives your application, also known as your state contribution eligibility date. You will not receive the state contribution toward your health coverage until your state contribution eligibility date. If you do not enroll within the 60-day period, you may enroll during a later Annual Enrollment period. In that case, you can choose a coverage effective date of the next Sept. 1 or Dec. 1.
This eligibility is subject to change by Texas Legislature and is not a guarantee of future benefits. If you have questions or need further assistance, please contact your HR Rep.
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