Leaving Rentokil

Moving on

When it’s time to say goodbye to working at Rentokil — whether you’re retiring or taking on a new professional opportunity — there are some important steps to take before you go. See what you need to do to make sure it’s a smooth transition.

Preparing to retire

Check your 401(k) Retirement Savings Plan

Visit Vanguard to access your account and check your contributions.

  • If your vested balance is over $5,000, you can leave it in the Rentokil plan until minimum distributions are required (currently at age 73).
  • If your vested balance is $1,000 or less, and you take no action, the balance will automatically be distributed in a single lump sum in cash, with applicable taxes withheld.
  • If your vested balance is $5,000 or less, but greater than $1,000, and you take no action, the balance will automatically be rolled over into a Vanguard IRA.

Note: Any cash withdrawal prior to age 59 1/2 may be subject to an IRS tax penalty in addition to regular taxes, which are withheld at distribution. You may also rollover your balance to an IRA. Contact Vanguard at (800) 523-1188 for more information.

Know what will happen to your benefits

To understand the impact to your benefits upon leaving Rentokil:

Consider if you want to continue any of your benefits:

  • Contact RTX Benefits regarding COBRA.
  • Consider Medicare. Learn more about Medicare with Ask Me. (Note: For the best experience using Ask Me, use the Chrome web browser and make sure you are logged in to Okta on your device.)
  • Explore Healthcare.gov.
Think about your life insurance needs

As a benefits-eligible employee, you receive basic life and AD&D insurance from Rentokil, and you may have purchased supplemental life and AD&D. Your life insurance is portable, so contact Securian at (866) 293-6047 if you want to maintain this coverage after you leave Rentokil. Look for a letter with next steps.

Know what happens to your HSA or HCFSA

Depending on which Rentokil plan you’re enrolled in, you may have an HSA or HCFSA. Here’s what happens to your funds:

  • HSA: Your HSA funds are yours to keep. You can use the funds to pay your healthcare, COBRA, or Medicare contributions. After age 65, you can withdraw the funds for any reason. If you use the funds for eligible expenses as defined by the IRS, you will not pay any taxes or penalties on the withdrawals.
  • HCFSA: You can use your FSA to reimburse eligible healthcare expenses incurred through your last day with Rentokil. You can continue to submit claims through March 31 of the following year. Visit Inspira Financial to manage your account and submit claims.
Get mental health support

Retirement is exciting, but it can be overwhelming. Resources for Living offers free mental health counseling to you and your household members, 24/7/365. Call (833) 721-2317 or visit Resources for Living (username: Rentokil; password: EAP).

Prepare or update your will

If you’re enrolled in LegalEASE, you can connect to an attorney to update or create a will that reflects your new status. LegalEASE can also help with other legal matters, such as buying, selling, or renting a home.

Through Resources for Living, you can also have a free 30-minute in-person or phone consultation with a network attorney per separate legal matter. If you decide to continue working with the attorney, you will receive a reduced rate.

Starting a new job

Roll over your 401(k) Retirement Savings Plan, if possible

If your new employer offers a 401(k) Plan, check to see if you can roll over your Rentokil 401(k) Plan into the new Plan. You may also rollover your balance to an IRA. 

Know what will happen to your benefits

To understand the impact to your benefits upon leaving Rentokil:

Consider the following:

  • If you’re interested in electing COBRA benefits, you will receive a mailing from Inspira Financial with additional information.
  • If you’re interested in exploring independent healthcare coverage options, visit Healthcare.gov.
Know what happens to your HSA or HCFSA

Depending on which Rentokil plan you’re enrolled in, you may have an HSA or HCFSA. Here’s what happens to your funds:

  • HSA: Your HSA funds are yours to keep. You can use the funds to pay your healthcare, COBRA, or Medicare contributions. After age 65, you can withdraw the funds for any reason. If you use the funds for eligible expenses as defined by the IRS, you will not pay any taxes or penalties on the withdrawals.
  • HCFSA: You can use your FSA to reimburse eligible healthcare expenses incurred through your last day with Rentokil. You can continue to submit claims through March 31 of the following year. Visit Inspira Financial to manage your account and submit claims.