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Summary of Fringe Benefits for Full Time Employees |
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Hospitalization and Major Medical Insurance: The College provides group health insurance for all full-time employees at a minimal cost to each employee. Group hospitalization and major medical insurance are available for dependents. The cost of any dependent coverage will be deducted from the paycheck of the individual employee. Health insurance benefits begin the first day of the month following the first day of employment. |
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| Retirement: All full-time employees are required to participate in the retirement plan through TIAA-CREF. The college will contribute a percentage of the employee’s base salary to the Plan each year based on the approval of the Board. The percentage of salary contribution by the employee is 5% of base salary. Participation begins the first day of the month following the first day of employment. |
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| Life Insurance: Full-time employees are covered by group life insurance. The value of group life insurance is two and one-half times the annual salary of the employee rounded up to the nearest thousand, and with a cap of $50,000. This benefit is provided at no cost to the employee and begins the first day of the month following the first day of employment. |
| Disability Insurance: Long-term disability insurance is provided to all full-time employees. The insurance is 66 2/3% of the employee’s monthly pay if totally disabled and unable to work. Compensation begins 90 days after the disability has occurred and may continue until the employee reaches age 70, based on your age on the day your period of disability started. This benefit is provided at no cost to the employee and begins the first day of the month following three months of employment . |
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