Leaving Us: Involuntary terminations
Thank you for your service to U.S. Bank. Use this information to make your departure
as smooth as possible.
This guide addresses involuntary separations other than those receiving severance. If
you’re receiving severance benefits, consult your manager or talent consultant.
In this document
• Important information before you get started
• When you leave
• Your health, welfare and retirement benefits
• Your pay and compensation
• Other benefits
• Your banking
• Your career
• Your life
• Contact information
Important information
After you leave the company, you will no longer be able to use your intranet ID and
password. Use the links in the chart and your user ID and password for each site. You
will not have access to Workday after your employment ends; call U.S. Bank Employee
Services at 800.806.7009 to update your address, personal email or phone number.
Removing any customer data, business data, materials or intellectual property created
or obtained while employed at U.S. Bank violates the U.S. Bank Code of Ethics
policy and will be reported to the Law Division.
When you leave
Complete the following steps as soon as you are able:
Update your home address, personal email and/or phone number, if necessary
We must be able to contact you after you leave U.S. Bank, particularly regarding
various benefits, your final pay and your final W-2 form. If your address changes after
your last day of work, notify U.S. Bank Employee Services at 800.806.7009 as soon as
possible.
Return company property to (or as directed by) your manager:
• Employee ID or access card
•
Corporate credit card
•
Company-owned electronic equipment like cell phone, laptop, monitor or desktop
computer
•
Manuals, documents or files containing proprietary information
• Office, file cabinet or desk keys
•
All other company property
Cancel recurring transit and parking orders in your spending account.
Log in to Your Total Rewards and select the “Manage Your Transit and Parking Plan” tile
on the Work & Life page. Cancel pending orders for future months and update your profile
with current contact information for important notices.
Be sure to cancel any transit or parking orders by the 10
th
of the month. After that date,
orders are already finalized and in process for fulfillment; they can’t be cancelled. Please
keep the cancellation confirmation for your records.
Submit any outstanding travel and entertainment (T&E) expenses
Contact your former manager to submit outstanding T&E expenses. You’ll be
reimbursed for any approved T&E expenses incurred before your last day of active
employment. For out of pocket transactions, you’ll be reimbursed in the manner you
receive your normal pay (direct deposit or check). Corporate credit card charges will be
paid directly back to the card. Any delay in submitting outstanding T&E expenses could
result in additional charges (e.g., late fees) for which you’ll be personally responsible.
If applicable, update your notary status with the Secretary of State’s Office of
your respective state.
Your benefits
After you leave the company, you’re eligible to continue certain benefits you have at
the time of termination if you enroll in a timely manner and pay for your coverage.
Review the “Situations that could affect your coverage or participation” section in the
applicable summary plan descriptions (SPDs) on Your Total Rewards
for more
information.
Coverage benefits can include:
• Medical, dental, vision, Health Savings Account (HSA), 401(k), etc.
•
Transit plans or Metropass
•
Flexible spending accounts
You must continue to review and update your beneficiaries by visiting Your Total
Rewards.
What to know about continuing your coverage
Coverage Details
Medical, dental, vision, term
life and healthcare flexible
spending account
Your U.S. Bank coverage will end on the f irst of the month
following your last day of work. A few weeks after your coverage
ends you should receive a COBRA packet that contains
inf ormation about continuing certain benef its, including medical.
If you or any of your dependents are eligible f or Medicare, you
may not receive a benef it f rom the medical plan if you continue
coverage through COBRA. See the Medical and Wellness
Summary Plan Description in Your To tal Rewards for more inf
ormation.
Health Savings Account
(HSA)
Your HSA continues to be yours af ter you leave U.S. Bank. You
will no longer be able to make bef ore-tax contributions or receive
the employer contribution (if eligible). You may, however, make
tax-deductible contributions if you remain eligible to do so. You
also may continue to take distributions f or qualif ied expenses and
manage your investments. For more inf ormation, contact Optum
Bank at 844.326.7967 or visit optumbank.com
.
U.S. Bank 401(k) Savings
Plan
•
Your employee contributions generally end as of your last
day worked, but may be deducted from trailing pay, such
as vacation payout.
•
If you're eligible, your employer matching contribution will be
posted to your account the January after your employment
ends. If you take a distribution prior to the posting of the
employer match, you will likely need to take another
distribution after the match posts to avoid having that
balance forced out of the plan as a taxable distribution.
•
You can request a distribution of your 401(k) account 15 or
more days after your termination is processed on the
payroll and 401(k) systems. The plan administrator will mail
you a Separation of Employment notice including loan
repayment information (if applicable) and your distribution
options. You may request a distribution by check (allow
two business days for processing and seven to 10 days for
mail delivery) or deposit to your checking or savings
account (allow three to five business days for processing).
•
You may continue to access Your Total Rewards at
usbank.com/benefitsandrewards or call U.S. Bank
Employee Services at 800.806.7009 for information about
your account. You will need your user ID and password.
U.S. Bank Pension
Plan/U.S. Bank 2010 Cash
Balance Plan
•
You will be entitled to a pension benef it if you have
attained at least f ive years of vesting service for benefits
earned in the U.S. Bank Pension Plan or at least three
years of vesting service for benefits earned in the U.S.
Bank 2010 Cash Balance Plan.
•
Inf ormation regarding your pension benef it will be mailed
to your home address approximately 60 days after your
employment ends.
•
You may continue to access Your Total Rewards or call
U.S. Bank Employee Services at 800.806.7009 f or
information about your pension benefit. You will need to
provide your user ID and password.
Transit Plan If you participate in the Transit Plan, you can’t place additional
transit orders after your employment ends due to Internal
Revenue Service (IRS) regulations. Transit debit cards are also
deactivated af ter your employment ends.
For detailed account information, visit Your To t al Rewards and
click the “Manage Your Transit and Parking Plan” tile on the Work
& Lif e page.
Metropass If you reside in the Twin Cities metro area and participated in the
Metropass program, return your Metropass card via U.S. mail to:
U.S. Bank
Metropass Administration EP-MN-R2BN 4000 West Broadway
Robbinsdale, MN 55422
Flexible spending accounts If you have a Healthcare or Dependent Care Flexible Spending
Account (FSA), submit all claims incurred prior to your
termination
bef ore March 31 of the year following the plan year. If you have
Parking Cash Reimbursement claims, submit all final claims
within
180 days of the date of the expense. Unclaimed FSA balances,
f unds or credits cannot be ref unded af ter employment ends due to
Internal Revenue Service (IRS) regulations.
For detailed account inf ormation f or these plans, link to the
“Manage Your Transit and Parking Plan” tile on the Work & Lif e
page on Your To tal Rewards.
Executive Life, ValuePlus
and Premier Split Dollar
Life Insurance
Inf ormation will be mailed to your home within 60 days of
termination.
Critical Illness and Accident
Protection plans
Your participation will end as of the f irst of the month following
your last day of work. If you are under age 76 and would like to
continue coverage, you must submit a written request to
UnitedHealthcare and pay the first month’s premium within 31
days of the date your active coverage ends. For more inf ormation
,
call UnitedHealthcare at 800.358.0114.
Your pay and compensation
Before leaving the company, review the details below on how you’ll receive specific
funds or forms and what you’re responsible for to ensure proper processing.
Topics Details
Final pay Your f inal paycheck will be issued as soon as possible when your
last day is reported to Payroll. That check will include all
exception time such as additional straight time, overtime, lost time
and vacation payout, if applicable.
Your f inal paycheck will be paid to you by the same method as
your previous paychecks (direct deposit, paper check or the
payroll card). If you have direct deposit or the payroll card, keep
your accounts open so your f inal pay can be deposited.
Tax forms Your W-2s and any other applicable tax forms will be mailed to
you by Jan. 31 of next year to the address we have on file. Make
sure your address is up to date to ensure timely receipt of these
f orms.
Stock options If you have stock options, vested or unvested, terminating your
employment for any reason will af fect them.
In many situations, your termination will cause options to expire or
cancel, possibly within a short period of time after your last day of
active employment (last day worked). Any expiration or cancellation
of
stock option rights will be subject to all conditions and restrictions
outlined in the applicable p lan and/or option agreement.
As always, you’re responsible for monitoring the expiration date of
your options. Neither U.S. Bancorp nor the administrator will notify
you of any pending expiration or cancellation of options, vested or
unvested.
Exercise your options before they expire or cancel. Contact Fidelity
Stock Plan Services at 800.544.9354 or visit netbenefits.com
. Note
that it may take several weeks after termination before expiration
dates are ref lected in the Fidelity system.
This summary is not intended to replace information previously
provided to you in the applicable plan and/or option agreement.
Purchased vacation Unused purchased vacation time (deducted but not used) will be
added to your final paycheck. Used purchased vacation time (used
but not deducted) will be deducted from your final paycheck.
Other benefits
Tuition reimbursement
If you leave U.S. Bank within one year of receiving tuition reimbursement, you will be
required to repay U.S. Bank the amount of the reimbursement. In addition, you must
repay 50% of any tuition received within two years of your termination date for
courses applied to graduate degree programs. No reimbursement will be made to
former employees or to employees who have given notice of resignation, even if the
reimbursement was previously approved.
American Bankers Association (ABA)
If you’re enrolled in an ABA course on the effective date of your termination you will
be required to repay the cost of tuition.
Your banking
We hope you will continue to bank with us and enjoy the products and services we
offer.
Alumni status
If you’re leaving the company after five or more years of consecutive service and
in good standing (rehireable), you’re considered an alumnus and eligible to
continue your U.S. Bank Platinum Checking Package Account. If you have an
outstanding loan that was processed with an employee discount, the current
interest rate will continue for the life of the loan. You'll also continue to have
access to the same discounts on new products and services we offer employees,
not including our Home Mortgage or Automated Investor employee offers.
To learn more about the benefits of being a part of our U.S. Bank Alumni Network,
visit alumni.usbank.com. You’ll find information on discounts, specials, company
and alumni news and volunteer opportunities in your area. For more information
about the alumni program, email
alumni@usbank.com.
If you don’t qualify for alumni status
We’ll mail additional information to your home address about 10 days after your last
day at the company. Review the materials, as fees may apply to maintain your
Platinum Checking Package.
If you have an outstanding loan processed with an employee discount, the current
interest rate will continue for the life of the loan; your separation from the company
will not impact it. However, you will no longer be eligible to access the same
discounted services offered to employees.
Your career
Employment verification
“The Work Number” is a fully automated telephone and web-enabled system
available 24/7 to verify your U.S. Bank employment and/or salary.
If you only need verification of your job title, hire date and end date with the company,
give the verifier your Social Security number, company code 10360 and the
telephone number 800.367.5690.
If the verifier also needs salary information, contact 800.367.2884 to obtain a “salary
key” to give to your verifier as well. When prompted, enter company code 10360 and
an eight-digit PIN number, which is the year of your birth followed by the last four
digits of your Social Security number.
Your life
U.S. Bank Discount Program (Abenity)
Your access to the U.S. Bank Discount Program website for employees will end shortly
after your employment ends. If you’re considered an alumnus (if you’re leaving the
company after five or more years of consecutive service and in good standing), you can
access certain discounts on the alumni site at usbankalumni.hrdiscounts.com/perks/.
If you are currently taking advantage of a cell phone discount, the provider may remove
the discount. Contact your service provider directly with questions or for more
information.
The Best in Us points
You have 30 days from your last day of employment to redeem any unused The Best
in Us points. Call MotivAction at 888.333.7354 7:30 a.m. to 5:30 p.m. CT Monday
through Friday, or email thebestinussupport@encorevalues.com to request
access to the site, including your legal name and contact information. A
representative will contact you and may request your employee ID and/or preferred
ID as validation prior to granting access.
Contact information
Benefit, program or service Contact information
Address, email address and/or
phone number updates
U.S. Bank Employee Services 800.806.7009, say “Paycheck,
HR and recruitment”
W-2 f orms or f inal pay U.S. Bank Employee Services 800.806.7009, say “Paycheck, HR
and recruitment”
Health and welf are benef its:
•
COBRA continuation
coverage
•
Submit f inal claims f or:
o
Healthcare FSA
o
Dependent Care FSA
o
Parking FSA Cash
Reimbursement
U.S. Bank Employee Services 800.806.7009, say “Health and
insurance coverage” (f or COBRA) or “Flexible spending accounts
and commuter”
Your Total Rewards (YTR)
site: usbank.com/benefitsandrewards
Health Savings Account If enrolled in a UnitedHealthcare medical plan: 800.791.9361 or
myuhc.com
All other plans: 844.326.7967 or optumbank.com
Pension and 401(k) benef its:
•
Request a pension estimate
•
Initiate your benef it payments
•
Pay off a loan
•
Update your beneficiaries
•
Questions
U.S. Bank Employee Services 800.806.7009, say “Savings and
retirement”
Your Total Rewards (YTR)
site: usbank.com/benefitsandrewards
Alumni Network (a way f or f ormer
colleagues to reconnect and get
updates on company news and
alumni program benef its)
U.S. Bank Alumni Network 866.680.2586
or alumni@usbank.com
National Notary Association (NNA)
General questions related to new notary
commission 877.876.0827
The Best in Us (redeem f inal
points)
MotivAction
888.333.7354
thebestinussupport@encorevalues.com
Def erred compensation U.S. Bank Employee
Services 800.806.7009,
say “Savings and
retirement”
Your Total Rewards
(YTR)
site:
usbank.com/benefitsand
rewards
U.S. Bank banking discounts Your personal banker at
your local
U.S. Bank
branch or 24- Hour
Banking at
800.872.2657
Incentive plans
Short-term cash incentive plans
Long-t erm i nc entive plans (long-
t erm
cash, stock options, restricted stock
awards)
Your manager
Questions:
U.S. Bank Employee
Services 800.806.7009,
say “Paycheck, HR and
recruitment” to open a
case
Account access (stock
option/restricted stock):
Fidelity Stock Plan
Services 800.544.9354
or netbenefits.com
It may take several
weeks af ter termination
before expiration dates
are ref lected in the
Fidelity system.
All other questions U.S. Bank Employee
Services 800.806.7009,
say “Paycheck, HR and
recruitment”
If there are differences between the information contained on this site and the official
plan/program documents, the official plan/program documents will govern.
