You and/or your dependents may be eligible to continue your FlexSolutions health care coverages through COBRA.*
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Reimbursements for eligible expenses incurred in the current year can be filed the following year up through March 31; however, under the...
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Dependent Care Reimbursement Account, your contributions to this Account will stop immediately.
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Health Care Reimbursement Account, only those expenses incurred before your employment ends are eligible for reimbursement unless you continue participating in this Account on an after-tax basis through COBRA.
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You and/or your covered dependents may convert the applicable group life insurance coverage(s) to individual policies subject to the insurance company.* Note that you may not convert your AD&D or BTA Insurance coverage; coverage under these Plans ends when your employment ends.
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Coverage under the Long-Term Disability (LTD) Plan ends when your employment ends; you may not convert this coverage.
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Any unused vacation time you have earned will be paid out in a lump sum when your employment ends.
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Consider how you would like your Individual Deferred Compensation (IDC) and Profit Sharing Retirement (PSR) Plan funds distributed to you. If you are a participant in the A&B Retirement Plan and were hired or rehired on or after January 1, 2008, consider, too, whether you would like to keep your Retirement Plan benefit in the Plan or take a lump sum distribution. Remember! If you directly roll your Plan Account balance(s) over to an IRA or another employer's plan (if that employer’s plan accepts such rollovers), you may avoid penalties and defer taxes.
If you were hired…
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Before January 1, 2008, and have five or more years of service, you are vested in the A&B Retirement Plan for Salaried Employees and will be eligible to receive a retirement benefit once you are eligible under the terms of the Plan.
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On or after January 1, 2008, and have three or more years of service, you are vested in the Retirement Plan for Salaried Employees. As noted above, you can take a distribution from the Plan at this time, or you can leave your accumulated benefit in your Plan Account, and continue to receive Interest Credits.
Note: The tax concerns and your options differ depending on your age at the time you leave A&B.
If you are retiring, you may be eligible for health care and life insurance benefits through the A&B Retiree Health and Welfare Benefit Plan.
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