September
30, 2002
Dear VRS Members Who Are Not VSDP Participants:
All Commonwealth employees
who are in the Virginia Retirement System (VRS) but not enrolled in the
Virginia Sickness and Disability Plan (VSDP) have another opportunity to
join. The enrollment period begins October 1, 2002,
and runs through November
30, 2002. Enrollment in the plan is automatic unless you "opt out".
The basic provisions
of the VSDP provide you with the following benefits at absolutely no cost to
you:
- Sick Leave
- Personal Leave
- Short-Term Disability
- Long-Term Disability
- Long-Term Care
Employees with
existing sick leave balances will have their hours converted to disability
credits at a rate of one credit for every sick hour if they participate in
VSDP. Upon termination of state
employment, employees may convert their unused disability credits to VRS
service credits at the rate of one month of service for each 173 hours of
disability credits, rounded to the next highest month, or cash out one quarter
of their disability credit balance up to $5,000.
During the 2002
General Assembly Session, the enrollment process was legislatively mandated in
the Code of Virginia. If you do not want to be covered under the VSDP, you MUST complete the Virginia Retirement System VSDP-5A form (copy enclosed) and
return it to the UHR Benefits Division by 5
p.m., November 30, 2002. The VRS form can also be obtained from the
UHR website at www.hrs.virginia.edu/forms/VSDP5A.pdf. If you do not file the form, you will
be automatically enrolled in VSDP, and will not be able to drop the benefit at
a later date. Failure to submit the form
creates an irrevocable election and you will be enrolled in VSDP. If you submit the form and wish to change
your election, it cannot be done after 5 p.m., November
30, 2002. Should you wish to change your election after
you submit the form, you will need to come into the University Benefits office
to take back the original form you submitted by 5 p.m., November 30, 2002. If you choose to opt
out of the VSDP now, you may never have another opportunity to participate.
We believe that the
VSDP is a top-notch benefit with which many employees have been very
satisfied. Before you decide to opt out,
we urge you to:
- Be sure you understand the benefits you
are giving up.
- Read the enclosed VSDP Handbook.
- Read the VRS Special Edition of Memo to
Members on VSDP (found on the VRS website, www.state.va.us/vrs/vrs.htm,
under Publications and Forms.).
Should you have any questions please
contact the UHR Benefits Division, 914 Emmet Street, P.O. Box 400127,
Charlottesville, VA 22904-4127; (434)
924-4392; fax (434) 924-4486; e-mail benefits@virginia.edu.
Sincerely,
Thomas E. Gausvik
Chief Human Resource Officer
Enclosures
