Leaving Iron Mountain
If you are leaving Iron Mountain for a new opportunity or other reasons, it’s important to know your options and next steps. Review each section on what you need to know about impacts to your benefits as well as available options to continue coverage.
-
Update your contact information
In order to ensure you continue to receive important pay and benefit information after you leave Iron Mountain, it is important to keep the Company informed of any updates to your contact information.
To update your contact information prior to leaving the Company:
Log into myMAP and click the link for My HR (Workday)
To update your contact information after leaving the Company:
Access myMAP by calling 855-462-7547 or email at irmHR.NAM@ironmountain.com
-
Paid time off (vacation, wellbeing time, and floating holidays)
Vacation balance for non-exempt employees: Your final paycheck will also include up to 80 hours of accrued, unused vacation time unless required by state law. States that require a payout for all accrued unused vacation time at termination are CA, CO, IL, LA, MA, ME, MT, NE, ND, and RI. Additionally, employees who perform federal government work will receive a payout of time earned under the Service Contract Act (SCA), as required by SCA regulations.
Flexible Vacation Time for exempt employees: Flexible Vacation Time does not accrue, and employees do not carry a balance. No time is paid out upon separation from employment.
Wellbeing time and floating holidays: You will not be eligible to receive payment for any earned, unused wellbeing time or floating holidays, unless required by state law. You may not end your employment utilizing wellbeing time or a floating holiday.
-
Healthcare benefits (medical/dental/vision)
Your coverage ends on your last day of employment, but you have the option to continue coverage under COBRA.
COBRA: If you and/or your family is covered by the Company's healthcare plan(s), you and/or your eligible dependents may extend your coverage at the full group rate. Healthcare benefits may be extended for 18 months for employees and their eligible dependents. You will receive a COBRA notice from Iron Mountain Benefits Center (US/PR) powered by bswift with information explaining how to continue your healthcare benefits approximately 2 to 3 weeks following your separation date. In order for you to continue your coverage, you must actively make an election on Iron Mountain Benefits Center (US/PR) powered by bswift within 60 days.
How much does COBRA cost?
The full COBRA rate is 100% of the total monthly group rate, plus a 2% administrative fee.
I was terminated and offered a severance package, how does COBRA work?
If you sign your severance agreement, Iron Mountain will cover a portion of your COBRA cost during your separation period outlined in your severance agreement. You are still responsible for electing coverage and making monthly payments on Iron Mountain Benefits Center (US/PR) just like any employee who leaves Iron Mountain.
How do I apply for COBRA coverage?
bswift, our COBRA administrator, will send you a Cobra package within 2-3 weeks of your separation date to the address in Iron Mountain’s system. Please be sure to update your address to ensure you receive the paperwork timely. The Cobra package will include information on the available coverages, explains important election information such as enrollment deadlines, instructions to enroll, and how to make premium payment.
When does my active coverage end and when does COBRA start?
Employee healthcare, dental, vision, and health FSA coverage ends on the last day of employment and will not be reinstated until you elect COBRA and send in the first payment. Your COBRA election will be back dated to your date of separation, so there is no gap in coverage from your active Iron Mountain coverage. If you receive any medical services between your separation date and the time you elect COBRA, you will likely need to pay for those services out of your pocket. Once your coverage has been reinstated you may then submit those claims to the insurance carrier for reimbursement. You may cancel your COBRA coverage at any time.
How does Medicare coordinate with COBRA?
You and/or your spouse is 65 years of age before your COBRA qualifying event date: If you and/or your spouse is 65 regardless of your separation reason COBRA can only be processed as a secondary payer for someone who is eligible for Medicare. Please reach out to the Medicare office to enroll the eligible person immediately. This is a federal law and there will be more information in your COBRA packet from bswift regarding this law.
You and/or your spouse will turn 65 while on COBRA: You and/or your spouse will still be eligible for COBRA, however please review all of your options at the time of eligibility including costs. Since the Medicare qualifying event date happens after your COBRA qualifying event date COBRA will pay primary or coordinate with Medicare as a secondary payer if you choose to have both coverages.
If you are Medicare eligible, you can reach out to the Iron Mountain Benefits Center (US/PR) at 877-907-4828.
Is there a COBRA Open Enrollment?
Yes, in the fall all COBRA participants will be offered an Open Enrollment period similar to Open Enrollment for active employees. You can review your medical, dental, and vision options and switch plans and review plan costs. All open enrollment coverages will begin January 1st of the following year. If you do not make any open enrollment changes, your current elections will continue at the new cost.
-
Tax-advantaged accounts (Flexible Spending and Health Savings Accounts)
Flexible Spending Accounts: Your participation ends on your last day of employment. You may continue to apply for reimbursement of eligible expenses incurred prior to your separation date through the grace period of the plan year (3/31).
If you have a positive account balance at the time of separation, you will be offered the option to continue your participation in the Healthcare Flexible or Limited Purpose Spending Account under COBRA. You have to make the contributions from your own funds, hence eliminating any tax advantages. It is important to note that your card will be deactivated at the point of separation, but your account will remain open with funds still available to you. You must submit all claims for reimbursement manually via the Fidelity Netbenefits portal/website or via fax.
Health Savings Account (HSA): If you contributed to a Health Savings Account, you may leave your money in your account and continue to use it for eligible expenses. You may also roll over the account into another HSA tax free or close the account and receive a check for the balance. However, if you choose to receive your funds, you may face tax penalties. Contact your tax advisor for guidance.
-
Resources for Living (including Employee Assistance Program)
Employees will continue their eligibility for the Resources for Living Program (EAP) for 90 days after their separation date. Resources for Living is a free and confidential service designed to help you find solutions for everyday moments and matters of work and home, as well as for more serious issues involving emotional, financial, social and physical wellbeing. Please call 1-833-657-2101 or go to go.rfl.com/IRM. (Username: IRM ; Password: Mountaineer)
-
Wellbeing programs (Psych Hub and LiveWell)
Psych Hub: You will have access to Psych Hub for 30 days after your separation date. Psych Hub is an online library of mental health education and navigation at no cost to you and accessible 24 hours a day, 7 days a week. Psych Hub provides multimedia education to help you become more aware of mental health and/or overcome mental health challenges. Go to: https://app.psychhub.com/signup/ironmountain
LiveWell Wellness Program: Your participation in this program ends on your last day of employment.
-
401(k) plan
The Fidelity Retirement Benefits Center will send information outlining your Iron Mountain 401(k) plan account options to your preferred email address or address on file within 7-10 days after your separation date is received. If you have questions about your 401(k) account, you may review your account details on the Fidelity NetBenefits website or through the NetBenefits mobile app. You may also contact the Fidelity Retirement Benefits Center at 800-835-5095, Monday – Friday from 8:30 a.m. to midnight ET.
Options for your vested account balance
Distributions may be taken as a partial or full lump sum or a rollover distribution of your vested account balance at any time after your separation date is received by Fidelity, usually within two pay periods.
U.S. 401(k) Puerto Rico 401(k) Vested balance is less than $1,000
Your account will be closed and automatically distributed to you within 90 days following your separation. To avoid having your entire vested balance automatically distributed, you may request a rollover by contacting the Fidelity Retirement Benefits Center prior to the automatic distribution date.Vested balance is less than $1,000
Your account will be closed and automatically distributed to you within 90 days following your separation. To avoid having your entire vested balance automatically distributed, you may request a rollover by contacting the Fidelity Retirement Benefits Center prior to the automatic distribution date.Vested balance is more than $1,000, but less than $7,000
Your account will be closed and automatically rolled into a Fidelity Individual Retirement Account, unless you contact the Fidelity Retirement Benefits Center prior to the automatic rollover date to request another distribution type.Vested account balance $7,000 or more
Your account may remain in the Plan.Vested account balance is $1,000 or more
Your account may remain in the Plan.