In addition to taking care of yourself physically and emotionally, you will need hard facts and information. Remember, information truly IS power and the more you know about financial and other resources, the more in control you'll be.
What facts do you need?
If you have not been told why a lay-off/non-renewal is occurring, ASK. Ask your supervisor or a representative in Human Resources. It is common that people being laid off believe there is more to the story than the leaders are willing to share. While that may be the case sometimes, it may also be you are being told the truth. Try to be aware of when anger and/or shame may cause you to read more into what is happening.
Have you received a letter detailing when your last day of employment is and what resources are available? Make sure you have received that letter and hold on to it. Some of the information may not feel relevant right now but will be later. Letters include names and places where you can find more detailed information.
The University has policies on lay-offs and non-renewals. They cover who is eligible and what benefits are available. You may wish to read them to feel confident you know all of your options.
For Academic (as well as Civil Service and Bargaining Unit) employees, these policies can be found: www1.umn.edu/ohr/ohrpolicy/Departure/
Some of the most important and potentially confusing information you need about an impending separation from the University is information on your health and life insurance, retirement accounts, vacation pay-out and other Federal and University benefits. For each topic listed below, a contact person is listed to answer your questions.
Federal medical or life insurance or retirement: Kathy Murphy, Extension Federal Benefits Coordinator, 612-624-2731, coope035@umn.edu.
Federal thrift Savings Plan: Daisy Sipprell, Extension Senior Accountant, 612-625-4224, dms@umn.edu.
University Optional Retirement Program, health and dependent care reimbursement accounts, Layoff/Non-renewal Program: Melinda Soderberg, University Employee Benefits Counselor, 612-625-4050, soder020@tc.umn.edu.
Layoff/Non-renewal Program lump sum estimate: Jo Ann Hardy, Extension Payroll Manager, 612-624-4233, jeh@umn.edu.
Vacation balance: Unused vacation is paid out upon termination. Obtain balance information from your district support person.
Financial uncertainties may loom large. You may have to adjust suddenly to a reduced income and/or rearrange your spending priorities. There are several resources, on-line and in person.
Free On-line publications:Personal Financial Assistance:Adjusting to Suddenly Reduced Income: Covers topics from how to deal with your feelings and on to techniques for reassessing how your money will be used.
Getting Through Tough Times, College of Human Resources Extension Series: Includes connections to a series of publications on related topics. These also include other links to selected commercial financial tools such as calculators, debt adjustment programs, etc.
Lutheran Social Services Financial Counseling Service can help you plan a budget, deal with creditors, and reduce spending. Consumer Credit Counseling Service/LSS Financial Counseling Service is accredited by the National Foundation for Credit Counseling, and licensed by the Minnesota Department of Commerce. All information you provide is confidential and will be used to serve you only. You may contact them by phone at 1-888-577-2227 or email cccs@lssmn.org
The Minnesota Department of Economic Security has all the information you need about applying for unemployment benefits including how to apply, frequently asked questions and downloading forms.
University of Minnesota Extension is an equal opportunity educator and employer.
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