Can Termination Life Event be triggered on LAST_WORKING_DAY?

Summary:

We would like to trigger the occurred date for our termination life event based on "Last Working Day" on the Work Relationship page. Has this been done?

Content (required):

We want our termination life event to be triggered on Last Working Day, rather than termination date. This is being proposed to solve a problem where payroll runs before a termination was actually processed. Once the payroll runs, you cannot process a termination with an actual termination date prior to the payroll check date. This is skewing our coverage and rate end dates.

Our thought is to use the "Evaluate Life Event" fast formula type to change the occurred on date to match the LAST_WORKING_DATE on the work relationship page. Is this possible?