Voluntary and Voluntary and Involuntary Involuntary

Termination BenefitsTermination Benefits

GGovernmental overnmental AAccounting ccounting

SStandards tandards BBoard 47oard 47

New Process/New DOS codesNew Process/New DOS codes

GASB 47 went into effect July 1, GASB 47 went into effect July 1, 20052005

Campus required to Campus required to begin using begin using new DOS codesnew DOS codes effective with FY effective with FY 06/07 (06/07 (July 1, 2006July 1, 2006)) In order to comply with GASB requirements, new In order to comply with GASB requirements, new

reporting standards were accomplished as a manual reporting standards were accomplished as a manual effort for FY 05/06effort for FY 05/06

Why? Why?

Governmental Accounting Standards Governmental Accounting Standards Board (Board (GASBGASB) Statement #47 ) Statement #47 requires two requires two classification types of termination benefitsclassification types of termination benefits:: VoluntaryVoluntary:: Voluntary termination benefits include Voluntary termination benefits include

inducements to hasten separation from employment or as a inducements to hasten separation from employment or as a result of voluntary termination.result of voluntary termination.

InvoluntaryInvoluntary: : Involuntary termination benefits include Involuntary termination benefits include benefits provided as a direct result of an involuntary benefits provided as a direct result of an involuntary

termination.termination.

Change to DOS codesChange to DOS codes

DOS Codes no DOS Codes no longer available longer available for use:for use:

PLNPLN (Pay in Lieu of (Pay in Lieu of Notice) Notice) SEVSEV (Severance Pay) (Severance Pay)

Users will be Users will be prevented prevented from adding PLN and from adding PLN and SEVSEV to the EDB to the EDB or paying or paying terminal benefitsterminal benefits using using these DOS codes for:these DOS codes for:

One-time paymentsOne-time payments AP, FT AP, FT

Adjustments:Adjustments: LX, RX LX, RX

Timesheets:Timesheets: TE and TXTE and TX

Retro ProcessingRetro Processing

Users will still have the ability to process Users will still have the ability to process the PLN (Pay in Lieu of Notice) and SEV the PLN (Pay in Lieu of Notice) and SEV (Severance Pay) DOS codes in the (Severance Pay) DOS codes in the Distribution of Payroll Expense process; Distribution of Payroll Expense process; that is, that is, Payroll Expense TransfersPayroll Expense Transfers containing these DOS codes will not be containing these DOS codes will not be rejected.rejected.

Pay-in-LieuPay-in-Lieu

As noted in an earlier slide, the “PLN” As noted in an earlier slide, the “PLN” DOS code has been replaced as a DOS code has been replaced as a result of GASB47 regulations and must result of GASB47 regulations and must no longer be used. Payment in lieu of no longer be used. Payment in lieu of notice must now reflect involuntary notice must now reflect involuntary termination. The new DOS code ITP has termination. The new DOS code ITP has been established to comply with been established to comply with GASB47 regulations.GASB47 regulations.

Pay-in-Lieu, cont.Pay-in-Lieu, cont. Pay in-lieu-of notice is considered to be wages. A claimant is not eligible to Pay in-lieu-of notice is considered to be wages. A claimant is not eligible to

receive unemployment compensation for the particular period following the receive unemployment compensation for the particular period following the termination of employment for which payments were intended. A pay-in-lieu termination of employment for which payments were intended. A pay-in-lieu of notice (ITP) payment is subject to the same terms and conditions as of notice (ITP) payment is subject to the same terms and conditions as regular pay. Benefits will be based on the ITP pay period end date, not the regular pay. Benefits will be based on the ITP pay period end date, not the pay period end date representing when the employee actually left. Likewise, pay period end date representing when the employee actually left. Likewise, vacation and sick leave accrue based on the vacation and sick leave accrue based on the projected separation dateprojected separation date. . When to use ITPWhen to use ITP

Employee does not have the option of Preferential Rehire rights or Severance pay. Layoff is Employee does not have the option of Preferential Rehire rights or Severance pay. Layoff is involuntary. involuntary.

A Payment in-lieu-of notice is used at the HR Control Unit’sA Payment in-lieu-of notice is used at the HR Control Unit’s[1][1] discretion. It is not a discretion. It is not a mandated type of payment.mandated type of payment.

How to use ITPHow to use ITP Separation dateSeparation date must be a must be a projected date projected date based on the agreement made with based on the agreement made with

the HR Control Unit. the HR Control Unit. Appointment/DistributionAppointment/Distribution end dates and end dates and last day on pay statuslast day on pay status must be must be the the

last day the employee actually workedlast day the employee actually worked. . AB2410 must be generated and distributed to employee for AB2410 must be generated and distributed to employee for total owedtotal owed (including (including

projected wages) on employee’s projected wages) on employee’s last working daylast working day..

[1][1] NOTE: the term NOTE: the term HR Control UnitHR Control Unit is being used to encompass both staff (HR Team) and academic (Division) is being used to encompass both staff (HR Team) and academic (Division) HR Payroll Personnel who might process severance pay. HR Payroll Personnel who might process severance pay.

ITP Example:ITP Example:

HR Control Unit offers a HR Control Unit offers a one monthone month Pay-Pay-in-lieu of noticein-lieu of notice. Employee’s last working . Employee’s last working day is July 15, 2006.day is July 15, 2006. HR Control Unit updates PPS with:HR Control Unit updates PPS with:

Separation date of 08/15/06Separation date of 08/15/06

Last day on pay status date of 07/15/06Last day on pay status date of 07/15/06. .

Appointment end date of 07/15/06Appointment end date of 07/15/06..

HR Control Unit prepares AB2410 with three HR Control Unit prepares AB2410 with three distribution lines:distribution lines:

REGULAR TIME OVERTIME OR LEAVE TIME

EMPLOYEE NAME TRANS PAY PERIOD PAY ACCT TITLE RATE A DESC TOTAL H DESC TIME DESC TIME W

EMPLOYEE ID NO. CODE END DATE CYCLE DIST CODE AMOUNT H SERV REGULAR TIME % SERV IN

HOURS SERV IN HOURS S

MM DD YY TYPE NO ON PAY STATUS P

1-9 10-11 12-17 18 19-20 22-25 46-52 53 54-56 57-61 62 63-65 66-70 71-73 74-78 79

Doe, John 712345678 AP 073106 M 7646 2890.00 A REG .4783 + % + + do AP do M do do A ITP .5217 + % + + do AP 083106 M do do A ITP .5238 + % TRM 125.00 + +

Result:Result:Employee is paid as regular time (REG) for the appropriate Employee is paid as regular time (REG) for the appropriate percentage through the actual last day worked (line 1)percentage through the actual last day worked (line 1)The remainder of July hours are paid as projected pay-in-lieu The remainder of July hours are paid as projected pay-in-lieu (ITP) at the appropriate percentage for the balance of the (ITP) at the appropriate percentage for the balance of the month (line 2)month (line 2)The projected August hours are paid as pay-in-lieu (ITP) at The projected August hours are paid as pay-in-lieu (ITP) at the appropriate percentage through the projected date of 8/15. the appropriate percentage through the projected date of 8/15. (line 3)(line 3)Terminal vacation paid must have an 08/31/06 pay period end Terminal vacation paid must have an 08/31/06 pay period end date. (line 3) date. (line 3) Vacation and sick leave accrue based on the Vacation and sick leave accrue based on the projected separation dateprojected separation date. . In this example, John Doe would have benefit coverage In this example, John Doe would have benefit coverage through September 30, 2006 (August earnings, September 1 through September 30, 2006 (August earnings, September 1 premium).premium).AB2410 check for all pay due is given to John Doe on July 15, AB2410 check for all pay due is given to John Doe on July 15, 2006.2006.

DDistribution istribution OOf f PPayroll ayroll EExpensexpense

Two new object codes have been assigned for the Two new object codes have been assigned for the salaries, wages, and payouts related to Voluntary salaries, wages, and payouts related to Voluntary Termination Benefits and Involuntary Termination Termination Benefits and Involuntary Termination Benefits, 1610 and 1620 respectively. Benefits, 1610 and 1620 respectively. The health and welfare benefits associated with the The health and welfare benefits associated with the wages and payouts will use the existing object codes. wages and payouts will use the existing object codes. The payroll system cannot directly charge benefits to The payroll system cannot directly charge benefits to Object Code 8770 (Voluntary) or 8775 (Involuntary). Object Code 8770 (Voluntary) or 8775 (Involuntary). Thus, OP - General Accounting has distributed Thus, OP - General Accounting has distributed instructions to Controllers that the health and welfare instructions to Controllers that the health and welfare benefits must be reclassified to the new object codes. benefits must be reclassified to the new object codes. Campuses can use the month-end report that details the Campuses can use the month-end report that details the benefit costs related to Termination Benefits.benefit costs related to Termination Benefits.

New DOS Codes: Paytran only!New DOS Codes: Paytran only!

New voluntary and involuntary New voluntary and involuntary termination DOS codes termination DOS codes established per GASB 47 established per GASB 47 requirements requirements cannot be used cannot be used in the distribution linein the distribution line (ie: they (ie: they cannotcannot be set up in PPS as be set up in PPS as part of the employee’s EDB part of the employee’s EDB record via the EAPP function)record via the EAPP function)

The new DOS codes are only The new DOS codes are only for processing as pay input for processing as pay input DOS codes into a particular DOS codes into a particular payroll compute payroll compute (ie:(ie: Payroll Payroll transactions (Paytran) transactions (Paytran) only)only)

New DOS Codes, cont.New DOS Codes, cont.

Some of the new Voluntary and Some of the new Voluntary and Involuntary DOS codes are BYA Involuntary DOS codes are BYA DOS codes, while others require DOS codes, while others require pay rates with percentages or pay rates with percentages or hours.hours.

New New BYABYA DOS codes DOS codes

DOSDOS DESCRIPTIONDESCRIPTION USAGEUSAGE

VTLVTL Voluntary Termination – Voluntary Termination – Lump SumLump Sum

Settlement PaymentsSettlement Payments

VTSVTS Voluntary Termination – Voluntary Termination – SeveranceSeverance

By Agreement By Agreement PaymentsPayments

ITLITL Involuntary Termination – Involuntary Termination – Lump SumLump Sum

Settlement PaymentsSettlement Payments

ITSITS Involuntary Termination – Involuntary Termination – SeveranceSeverance

By Agreement By Agreement Payments; for Payments; for example, one month example, one month pay for each year pay for each year worked.worked.

New New RatedRated DOS codes DOS codes

DOSDOS DESCRIPTIONDESCRIPTION USAGEUSAGE

VTRVTR Voluntary Termination – Voluntary Termination – Regular PayRegular Pay

Pay in monthly Pay in monthly incrementsincrements

ITRITR Involuntary Termination Involuntary Termination – Regular Pay– Regular Pay

Pay in monthly Pay in monthly incrementsincrements

ITPITP Involuntary Termination Involuntary Termination – Pay In Lieu of Notice– Pay In Lieu of Notice

Regular Pay In Regular Pay In Lieu of NoticeLieu of Notice

What about TRM??What about TRM??

GASB 47 does not affect the GASB 47 does not affect the payment of terminal vacation payment of terminal vacation hours (TRM).hours (TRM). Units should continue to process TRM Units should continue to process TRM

hours on AB2410 final payments, as hours on AB2410 final payments, as usual.usual.

Functional GuidelinesFunctional Guidelines

When an employee receives termination When an employee receives termination benefits, the Distribution of payroll Expense and benefits, the Distribution of payroll Expense and General Ledger General Ledger must records the cash-out must records the cash-out payments separately from other salaries and payments separately from other salaries and wages and their associated fringe benefitswages and their associated fringe benefits. . Fringe benefits should include Retirement, Fringe benefits should include Retirement, OASDI, Medicare, health insurance (medical, OASDI, Medicare, health insurance (medical, vision, dental, life, and disability insurance), vision, dental, life, and disability insurance), Workers Compensation, and Unemployment Workers Compensation, and Unemployment Insurance. Insurance.

Definitions:Definitions: Voluntary Termination Benefits: Voluntary Termination Benefits: Benefits provided to Benefits provided to

employees as: employees as: an inducement to an inducement to hasten the termination hasten the termination of services of services

a result of a voluntary a result of a voluntary early termination plan early termination plan (including early-retirement (including early-retirement incentives)incentives)

The liability associated The liability associated with voluntary with voluntary terminations becomes terminations becomes recognized when recognized when bothboth of of the following have been the following have been completed:completed:

The employee(s) accepts the The employee(s) accepts the offer, offer, andand

The amount of the liability can be The amount of the liability can be estimated.estimated.

Voluntary Termination Benefits, Voluntary Termination Benefits, cont.cont.

In general, the applicable In general, the applicable benefits discussed in benefits discussed in GASB Statement No. 47 GASB Statement No. 47 are those over and above are those over and above the normal benefits the normal benefits provided upon provided upon termination that are not termination that are not provided through the provided through the UCRP or the OPEB Trust UCRP or the OPEB Trust and are effectively an and are effectively an inducement for the inducement for the employee to terminate employee to terminate their services.their services.

These include:These include: Health:Health:

Expanded Health Care Expanded Health Care CoverageCoverageCOBRA Benefits paid by COBRA Benefits paid by UCUCExpanded Annuitant Expanded Annuitant Health Care Coverage Not Health Care Coverage Not Provided by the OPEB Provided by the OPEB Plan Plan

Other:Other:Career Counseling or Job Career Counseling or Job Placement Services Placement Services Cash Payouts at or Cash Payouts at or Following Termination Following Termination

Expanded Health Care Coverage—If a terminated employee receives health care coverage beyond the health care coverage described above, and the cost of the expanded coverage is paid by the University, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location. However, if this benefit is being provided to an annuitant as part of the defined benefit OPEB plan through the OPEB Trust, it does not qualify as a termination benefit under GASB Statement No. 47. That situation is recognized as a liability and expense at UCOP through the application of GASB Statement No. 45. COBRA Benefits Paid By The University—If a terminated employee receives COBRA coverage beyond what is offered under University policy, and the cost is paid by the University, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location. However, if this benefit is being provided to an annuitant as part of the defined benefit OPEB plan through the OPEB Trust, it does not qualify as a termination benefit under GASB Statement No. 47. That situation is recognized as a liability and expense at UCOP through the application of GASB Statement No. 45. Expanded Annuitant Health Care Coverage Not Provided by the OPEB Plan—If the University provides and pays for enhancements to the annuitant health benefits for an employee who voluntarily terminates service, and for some reason (including occurrences prior to the implementation of GASB Statement No. 45 in 2007–2008) the enhancements are not being provided as part of the defined benefit OPEB plan through the OPEB Trust, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location.

Career Counseling or Job Placement Services—Managers and senior professionals may be assisted with outplacement services and career counseling, at the discretion of the department. If a terminated employee receives career counseling or job placement services paid by the University, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location.Cash Payouts at or Following Termination—If a terminated employee receives cash payouts associated with an inducement to voluntarily terminate, either a lump-sum or over a period of time, including payments made in lieu of notice, they would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location. These payments must be distinguished from payments that may be made for employee services already provided, such as cash out for the SMSPP, accrued vacation.

Voluntary, cont: Benefits not Voluntary, cont: Benefits not applicable to GASB 47applicable to GASB 47

Certain benefit Certain benefit situations at the situations at the University either:University either: do not fit the definition do not fit the definition

of a termination benefit of a termination benefit as used in GASB as used in GASB Statement No. 47 Statement No. 47

OROR are addressed through are addressed through

the UCRP or OPEB the UCRP or OPEB Plan Plan

Health CoverageHealth CoverageCOBRACOBRASenior Management Senior Management Severance Pay Plan Severance Pay Plan (SMSPP) (SMSPP) Enhancements to the Enhancements to the Pension Benefits Pension Benefits Provided by the UCRP Provided by the UCRP Expanded Annuitant Expanded Annuitant Health Care Coverage Health Care Coverage Provided by the OPEB Provided by the OPEB Plan Plan

An eligible employee who voluntarily resigns from University employment normally receives healthcare benefits (for purposes of this document, healthcare benefits include medical, dental and vision coverage) for the entire month in which he or she terminated employment and for an additional month after the month of termination. This benefit is provided in part because the University pays benefits premiums on an advance basis.University employees do not view this arrangement as a termination benefit, therefore it does not meet the definition of a termination benefit. The benefit relates to a) the billing arrangement the University has with its carriers as part of its ongoing benefit program for employees providing services to the University and b) is related to their active service.

COBRA/continuation health coverage is provided to employees as a result of either a voluntary or involuntary termination of employment or layoff. The University, however, does not contribute toward the cost of group health coverage under COBRA. The employee must pay the full monthly COBRA premium.This benefit does not meet the definition of a termination benefit since the University has no liability in connection with the continued coverage.

Senior Managers who voluntarily separate from the University receive their accumulated SMSPP accruals, plus interest. However, the nature of the plan is more related to a deferred benefit compensation arrangement that provides a benefit in exchange for employee services, rather than to provide a benefit in exchange for the early termination of services. Therefore, the SMSPP is not a termination benefit as defined in GASB Statement No. 47. While the SMSPP benefit is not a termination benefit, under University policy these SMSPP costs are accrued on an ongoing basis and the appropriate liability currently exists. Therefore, other than determining there is an adequate accrual for the SMSPP under existing University policy, there are no additional adjustments that need to be considered as a result of GASB Statement No. 47.

If enhancements to the UCRP benefits, such as additional credit for years of service, an increase in the benefit calculation multiplier, etc., are provided to an employee who voluntarily terminates their services, they are being provided as part of the defined benefit pension plan through the UCRP, therefore they are obligations of the UCRP and do not qualify as a termination benefit that campuses would record under GASB Statement No. 47. This situation is recognized as a liability and expense of the University by UCOP through the application of GASB Statement No. 27.

If enhancements to the annuitant health benefits provided under the OPEB Plan are provided to an employee who voluntarily terminates their services, they are being provided as part of the defined benefit OPEB plan through the OPEB Trust (anticipated to be effective July 1, 2007), therefore they are obligations of the OPEB plan and do not qualify as a termination benefit under GASB Statement No. 47 that campuses would record. This situation is recognized as a liability and expense to the University by UCOP through the application of GASB Statement No. 45.

Involuntary Termination BenefitsInvoluntary Termination Benefits

Involuntary termination benefits are those Involuntary termination benefits are those provided as a consequence of the provided as a consequence of the involuntary termination of services. As involuntary termination of services. As stated in GASB Statement No. 47, stated in GASB Statement No. 47, Paragraph 50: Paragraph 50: In contrast to voluntary terminations, In contrast to voluntary terminations,

involuntary terminations result from a involuntary terminations result from a unilateral decisionunilateral decision by the by the employeremployer

Involuntary Termination Involuntary Termination Benefits, cont.Benefits, cont.

For involuntary termination benefits, a For involuntary termination benefits, a liability and expense is recognized when liability and expense is recognized when allall of the following have been completed: of the following have been completed: A plan of termination has been approved by A plan of termination has been approved by

those with the authority to commit the those with the authority to commit the University to the plan, University to the plan, andand

That plan has been communicated to the That plan has been communicated to the employees, employees, andand

The amounts can be estimated (reference The amounts can be estimated (reference FASB Statement No. 5).FASB Statement No. 5).

Involuntary: approvalInvoluntary: approval

Recognition of those in a position to approve a Recognition of those in a position to approve a plan requires the judgment of the Controller. For plan requires the judgment of the Controller. For University-wide plans, the President or The University-wide plans, the President or The Regents may be recognized as the appropriate Regents may be recognized as the appropriate authority. For plans that involve a few individuals authority. For plans that involve a few individuals or departments, the Academic and Staff Human or departments, the Academic and Staff Human Resource Department (or other departments Resource Department (or other departments depending on the situation) may be recognized depending on the situation) may be recognized as the appropriate authority. as the appropriate authority.

Involuntary Plan: definedInvoluntary Plan: defined

A “plan” of involuntary termination is one that:A “plan” of involuntary termination is one that:Identifies, at a minimum, the number of employees to be terminated, the job Identifies, at a minimum, the number of employees to be terminated, the job classifications or functions that will be affected and their locations, and the classifications or functions that will be affected and their locations, and the dates that terminations are expected to occur, dates that terminations are expected to occur, andand

Establishes the terms of the termination benefits in sufficient detail to enable Establishes the terms of the termination benefits in sufficient detail to enable employees to determine the type and amount of benefits they will receive if employees to determine the type and amount of benefits they will receive if they are involuntarily terminated.they are involuntarily terminated.

However, if a plan of involuntary termination requires the employee to However, if a plan of involuntary termination requires the employee to render future service in order to receive termination benefits, the University render future service in order to receive termination benefits, the University must recognize a liability and expense for the portion of involuntary must recognize a liability and expense for the portion of involuntary termination benefits that will be provided after completion of the future termination benefits that will be provided after completion of the future service ratably over the future service period, beginning when the plan service ratably over the future service period, beginning when the plan otherwise meets the recognition criteria discussed above.otherwise meets the recognition criteria discussed above.

Involuntary Termination: BenefitsInvoluntary Termination: Benefits

Health Care:Health Care: Health Care CoverageHealth Care Coverage Expanded Health Expanded Health

CoverageCoverage Expanded Annuitant Expanded Annuitant

Health Care Coverage Health Care Coverage Not Provided by the Not Provided by the OPEB Plan OPEB Plan

COBRA Benefits Paid COBRA Benefits Paid By The University By The University

Other:Other: Severance Pay Severance Pay Cash Payouts at or Cash Payouts at or

Following Termination Following Termination Career Counseling or Career Counseling or

Job Placement Job Placement Services Services

Health Coverage—An employee separated through temporary lay-off may continue to participate in the University’s group health plan by paying his or her health premiums for up to four (4) months beginning on the first day of the employee’s temporary layoff. The University will pay up to three (3) months of premiums. For an employee terminated through temporary lay-off and not rehired, the three months of coverage would be subject to the requirements of Statement No. 47. However, if the employee is rehired before the end of the three month period, then the benefits would be treated as benefits provided to an employee while on leave without salary. Expanded Health Care Coverage—If a terminated employee receives health care coverage beyond what is offered under University policy, and the cost of the expanded coverage is paid by the University, it would qualify as a termination benefit as defined in Statement No. 47 for which a liability and expense should be recognized at each individual location. However, if this benefit is being provided to an annuitant as part of the defined benefit OPEB plan through the OPEB Trust, it does not qualify as a termination benefit under GASB Statement No. 47. That situation is recognized as a liability and expense at UCOP through the application of GASB Statement No. 45.

Expanded Annuitant Health Care Coverage Not Provided by the OPEB Plan—If the University provides and pays for enhancements to the annuitant health benefits for an employee who involuntarily terminates service, and for some reason (including occurrences prior to the implementation of GASB Statement No. 45 in 2007–2008) they are not being provided as part of the defined benefit OPEB plan through the OPEB Trust, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location.COBRA Benefits Paid By The University—If a terminated employee receives COBRA coverage beyond what is offered under University policy, and the cost is paid by the University, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location. However, if this benefit is being provided to an annuitant as part of the defined benefit OPEB plan through the OPEB Trust, it does not qualify as a termination benefit under GASB Statement No. 47. That situation is recognized as a liability and expense at UCOP through the application of GASB Statement No. 45.

Severance Pay—Managers, senior professionals or others may receive severance pay, at the discretion of the Chancellor, in the amount of one month of pay, or less, for each completed year of continuous University service up to a maximum of six months of severance pay. Senior Managers who have been terminated may receive financial assistance, subject to approval by the Chancellor, the President, or The Regents as required. Severance compensation may also be approved in the case of a faculty member with tenure or security of employment whose resignation is deemed to be in the interest of the University; the authority in such cases rests with the President following consultation with the respective Chancellor, who must consult with the appropriate advisory committee(s) of the Academic Senate. Severance payments in this regard does not include payments under the SMSPP

Cash Payouts at or Following Termination—If a terminated employee receives cash payouts associated with an inducement to terminate, either a lump-sum or over a period of time, including payments made in lieu of notice, they would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location. These payments must be distinguished from payments that may be made for employee services already provided, such as cash out for the SMSPP, accrued vacation, etc.Career Counseling or Job Placement Services—Managers and senior professionals may be assisted with outplacement services and career counseling, at the discretion of the department. If a terminated employee receives career counseling or job placement services paid by the University, it would qualify as a termination benefit as defined in GASB Statement No. 47 for which a liability and expense should be recognized at each individual location.