Terminating Your Employment

Terminating Your Employment
Benefit	What You Should Know
Medical and Prescription Drug Coverage	Your coverage ends on the last day of the month you leave MPTN. You may elect to continue coverage for yourself and your dependents through COBRA.
Dental and Vision Coverage	Same as Medical, above.
Health Care Flexible Spending Account (FSA)	Your participation ends on the date you leave MPTN. You may submit eligible expenses incurred any time prior to the date you leave MPTN for reimbursement until March 31st of the following year.
Dependent Care Flexible Spending Account (FSA)	Same as Health Care FSA, above.
Short-Term Disability	Your coverage ends on the date you leave MPTN.
Long-Term Disability — Basic Coverage	Your coverage ends on the date you leave MPTN.
Long-Term Disability — Buy-Up Option	Same as Long-Term Disability, above.
Basic Life Insurance	Your coverage ends on the date you leave MPTN. You may be able to convert coverage to an individual policy through the insurance company.
Supplemental Life Insurance	Your coverage ends for you and your dependents on the date you leave MPTN. You and your dependents may be able to convert coverage to an individual policy through the insurance company.
401(k) Plan	Your salary deferral contributions and MPTN’s matching contributions end when you leave the company. When you terminate from MPTN, you can continue to leave your money in the plan if your vested account balance is more than $1,000, subject to federal minimum required distribution rules. You can take full or partial distributions at any time and can decide on how it is invested. Should you decide to take a distribution from the plan when you leave MPTN, you will be subject to a mandatory 20% federal income tax withholding since you will be liable for taxes. You will also owe a 10% early withdrawal penalty if you are under age 55 when you leave. Rolling your money into an IRA or another qualified plan that accepts rollovers lets you defer taxes and avoid penalties. To obtain a distribution you can contact Merrill Lynch at 1-800-228-4015.