Leaving MIT

If your employment is coming to an end at MIT, or one of your employees is leaving, this page provides the links and information you need, including details on how your eligibility for benefits will change.

Managers, please use the DLCI Supervisor/Manager Checklist for Departing Employees (below) to complete the tasks around an employee departure (resignation or retirement). 

Retirees, see a special section of the MIT Benefits site just for you.

Employees, to get started:

  • Modify, print, and sign a letter of resignation (below).
  • Complete the tasks on the Leaving MIT Employee Checklist (below).
  • To manage your benefits, follow the steps in each section below.
  • If your DLCI does not schedule an in-person exit interview, get in touch with your Human Resources Officer if you would like one.

Update Your Address

Remember to change your address if you move, so we can keep you up to date on your benefit entitlements.

  • Active employees: Use Atlas  to update your contact information.
  • Former employees, employees on long-term disability, and retirees: Use the Personal Change Notice form.

Accessing Paystubs and W-2s

See Payroll's guide to finding your last paystub, your Wage and Tax Statement W-2 Tax Form for your last year at MIT, and retiree tax documents.

Your MIT Benefits Will Change

When you are preparing to leave MIT, it’s important to know how your benefits will change. Please review each of the sections below. 

Health, dental, vision coverage, and COBRA

  • Coverage under MIT health, dental, and vision plans ends at the end of the month in which you leave your MIT employment.
  • You and your eligible family members may be able to continue coverage under your MIT health, dental, and vision plans for an extended period as a result of a federal statute called the Consolidated Omnibus Budget Reconciliation Act (COBRA).
  • COBRA requires that you be given the opportunity to maintain your coverage for up to 18 months after your termination date. You are responsible for the cost of this coverage, which is generally 100% of the full cost of the plan plus a 2% administration charge. If you have been laid off, special provisions apply and you should consult your MIT Human Resources Officer .
  • The MIT COBRA administrator, WageWorks Inc., will send you a packet with instructions for continuing your coverage through COBRA.
  • You also may be able to extend your participation in an MIT Health Care Flexible Spending Account (FSA) as a result of COBRA. Learn more about COBRA.

Flexible spending accounts

Health Care FSA
  • You have until April 30 following the end of the plan year to file claims against the money in your FSA.
  • You can be reimbursed only for those services received before your termination date.
  • If you are participating in an FSA at the time of your termination, you may be eligible to extend your dates of participation by making payments to the existing account on an after-tax basis because of the federal COBRA statute.
  • If you have already received reimbursement for the whole amount you contributed for the plan year, you will not be eligible to continue under COBRA.
  • After termination, if you choose not to extend your dates of participation by making after-tax payments, you will be eligible to receive reimbursement only for services received before your date of termination.
  • Any account balance remaining after the end of the plan year is forfeited. Example: If you terminate employment with MIT on July 5, 2022, you have until April 30, 2023 to file reimbursement claims for services received before July 5, 2022.
  • Find out more about the Health Care FSA.
Dependent Care FSA
  • You have until April 30 following the end of the plan year to file claims for services received through your termination date. Example: If you terminate employment with MIT on July 5, 2022 you have until April 30, 2023 to file claims for reimbursement for services received on or before July 5, 2022.
  • You may not continue this account through COBRA.

Retirement plans

MIT Supplemental 401(k) Plan
  • You are immediately vested in (completely own) all 401(k) contributions made by you and MIT.
  • Any time after your employment at MIT ends, you may withdraw funds from your account.
  • If your balance equals $1,000 or less, you are required to withdraw your entire balance. Fidelity Investments will contact you regarding your withdrawal options.
  • If your account balance is more than $1,000, you are not required to withdraw your funds until April 1 following the year you reach age 70½ or the April 1 following the year your employment ends — whichever is later.
  • You may elect to withdraw funds in a single lump-sum payment, as a series of scheduled payments, or as a monthly lifetime income (annuity).
  • Learn more about 401(k) withdrawals.
MIT Pension Plan (Basic Retirement Plan)
  • The details of your Pension Plan, including eligibility and distribution options, depend on your date of hire. Please read the Summary Plan Description for a detailed explanation of the vesting provisions.
  • Your benefit payments may begin at any time after your employment at MIT ends; however, federal law requires that payments begin the April 1 following the year you reach age 70 ½, or the April following the year your MIT employment ends – whichever is later.
  • If you have more than 15 years of vested service credit, your MIT Pension Plan benefit must be paid to you in the form of a monthly lifetime income or annuity.
  • If you have 15 or fewer years of vested service credit, or if your cash balance account is $75,000 or less at the time you receive a distribution, your MIT Pension Plan benefit may be paid to you as either a monthly lifetime income or annuity or a single lump-sum payment.
  • If your Pension Plan benefit has a lump-sum value of less than $1,000, it must be paid to you as a single lump-sum payment.
  • Learn more about the MIT Pension Plan. 

Life and accident insurance

  • Your Basic, Accidental Death & Dismemberment Insurance, Optional, and Dependent Life Insurance coverage eligibility ends on your termination date.  However, coverage protection will continue for 31 days after your termination date.
  • Your Business Travel Accident Insurance coverage will end on the day you leave MIT.
  • You may convert all or part of your Basic, Optional and Dependent life insurance coverage to an individual policy with MetLife Insurance Company within 31 days after you end your employment. Contact MIT Benefits for the form.
  • Your Optional Life Insurance is portable and can be continued under your existing group term life and accidental death and dismemberment insurance policies from MetLife® within 31 days after you end your employment. If your Portability Application is received within this 31-day period, you will not have to provide evidence of insurability. Contact MIT Benefits for the form. Contact MetLife® at (888) 252-3607 for details.

Educational loan plan

If you participate in the Educational Loan Plan, your remaining loan balance is due in full upon exiting MIT. Please reach out to getaloan@mit.edu for next steps.

Long-term care plan

  • If you participate in the MIT Long-Term Care Plan, your coverage will continue after your employment ends.
  • John Hancock Mutual Life Insurance Company will bill you automatically for your coverage. Genworth will continue billing you for your coverage.
  • To cancel coverage with John Hancock, please contact the Customer Service Center directly at (888) 453-2030. To cancel coverage with Genworth, please contact the Customer Service Center directly at (800) 416-3624.

Tax-deferred annuity (TDA) or 403(b) program

Any time after your employment at MIT ends, you may withdraw funds from your TDA account. Contact your TDA investment provider directly for more information:

  • Fidelity: (800) 343-0860
  • Prudential: (800) 458-6333
  • TIAA-CREF: (800) 842-2776
  • Vanguard: (800) 523-1188

Questions?

If you have questions, please contact MIT Benefits.