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Overview of Benefits |
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Overview of Benefits |
FLEXIBLE BENEFITS PLAN
The Flexible Benefits Plan is designed to give eligible state employees the opportunity to increase their take home pay. Under the Plan, premiums for several insurances and reimbursement expenses may be paid out of the participants gross income before taxes. Participants will then be taxed on their adjusted gross income, resulting in higher spendable income.
Pre-tax Premium
Allows employee contributions for State approved insurance premiums to be paid with pre-tax dollars. This has the effect of reducing taxable income and increasing take home pay for the participant. Participation in the pre-tax program is automatic unless a waiver form is submitted at the time of insurance enrollment and annually thereafter.
Reimbursement Accounts
Allows employees to establish accounts using before-tax dollars to pay for certain medical and dependent day care expenses. Employees determine what dollar amounts, if any, they want to allocate to each type of account, which will be payroll deducted before taxes are calculated. Taxable earnings will be reduced, and the employees will have increased spendable income. Employees may choose to designate the amount of money to establish either type of account in a yearly basis. IMPORTANT NOTICE TO ALL NEW FACULTY, AMP AND SP EMPLOYEES
Enrollment in these plans is NOT automatic. New employees must complete enrollment forms with the Benefits and Retirement Department of Personnel Services to start coverage and authorize the university to begin deducting the required premiums from their paychecks. All new eligible employees,
regardless of their employment status, have only the FIRST 60 CALENDAR DAYS OF EMPLOYMENT to enroll in the plans of their choice. After the first 60 days, employees may only enroll during the Annual Open Enrollment period, which usually takes place from mid-September to mid-October, for coverage effective January 1st of the following year. You may be allowed to make certain changes in your coverage if you experience a Qualifying Status Change (QSC) in your personal life and you notify the Benefits and Retirement Department within 31 days of the QSC. Coverage for health insurance can be made effective the first day of the month following completion of the enrollment process. All other insurance coverages
must be deducted from two payroll checks and will be effective the first of the
following month.
HEALTH INSURANCE PLANS
New Faculty AMP and SP employees must enroll within 60 days of employment or during an annual open enrollment period.
Premiums for both HMO's and the Self Insured Plan(PPO) are shared by the employer, with the University currently contributing 70% of the premiums for family coverage.
BLUE CROSS & BLUE SHIELD (PPO)
Insured employees will be able to obtain services from either Preferred Patient Care physicians and hospitals or obtain services from conventional providers. Coverage is world wide. The plan is administered by Blue Cross/Blue Shield of Florida(http://www.bcbsfl.com)
Preferred Patient Care Coverage
The Plan will pay 80% of the PPC hospital's charges and 80% of the PPC physician's fees. Services and supplies provided by PPC: Fees for physicians office visits are paid at 100% after you pay: $15 primary care physician, $25 specialty physician. deductible for network services: individual $250 family $500. Preferred Patient Care providers will responsible for filing all claims.
Prescriptions are administered through Caremark, Inc. (http://www.caremark.com).
Non-Preferred Patient Care Coverage
Fees for physicians office visits are 60% with no deductible or co-payment. deductible for Non-network services: individual $750 family $1,500. Pre-existing conditions are excluded for a 12 month period. The maximum total payments available for an insured individual during the lifetime of this plan are $2,000,000.
Health Maintenance Organizations (HMO)
HMO's emphasize preventative health care.
HMO selection is determined by geographical location.
HMO's have no pre-existing condition clauses.
FAU has three HMO's to choose from: AvMed
(http://www.avmed.com),
Vista Health (www.vistahealthplan.com), and
JMH (1-800-721-2993)
DENTAL INSURANCE PLANS
New SP employees must enroll within 60 days of employment or during an annual open enrollment period. Dental Insurance is a pre-tax benefit.
Employees have four (4) Dental Plans to choose from:
For more information, contact Oral Health Services at 1-800-943-6880, or visit their website at www.ohsstateemployees.com
For more information, contact American Dental Plan at 1-800-342-5209, or visit their website at www.compbenefits.com
For more information, contact Cigna Dental Plan at 1-800-367-1037, or visit their website at www.cigna.com
For more information, contact DentiCare Plan at 1-800-347-3331, or visit their website at www.fortisbenefitsdental.com/groupsites/state_of_florida/default.htm
VISION CARE PLAN
Vision Care Plan Insurance is a pre-tax benefit.
n $10 co-pay for Vision Exam
n $15 co-pay for Lenses
n Frames- every 2 yrs $150 allowance
n Contact lenses - $100 allowance
n LASIK- 15% discount or pay no more than$1,800 per eye for the procedure
Employees may elect to have contact lenses. If an employee chooses contacts over glasses the plan will pay a flat fee of $100 toward the combined value of any or all of the following services - eye exam, extended exam to fit contact lenses and any follow up visits.
For more information please contact Vision Care Plan at 1-800-939-5369 or visit their website at www.visioncare.com
EMPLOYEE ASSISTANCE PROGRAM (EAP)
Florida Atlantic University provides an EAP benefit to all employees and family members. The plan provides confidential counseling services to assist in coping with the stresses of everyday life. Information on EAP is available in the Benefits and Retirement Office.
A brochure is available online.
STATE OF FLORIDA LIFE INSURANCE
Coverage provides for Term Life insurance and Accidental Death or Dismemberment Insurance based on a formula which includes the age and salary of the employee. 80% of the Premiums are paid by the employer and employee with the state currently contributing two-thirds of the premium amount.
n Basic Life Insurance coverage is 1.5 times base annual earnings (pre-tax)
n Optional Life Insurance – Employees may add additional term life insurance by selecting 1 to 5 times their annual salary (post tax)
Basic and Optional life insurances will terminate when you terminate employment
PRE-TAX SUPPLEMENTAL INSURANCES
Accident/disability insurance for up to 12 months' coverage, hospital income plans, cancer/intensive care insurance, supplemental health insurance plans and dental insurance plans are all available on a pre-tax premium basis.
PREFERRED LEGAL PLAN
New AMP employees must enroll within 60 days of employment or during an annual open enrollment period.
The Preferred Legal Plan is a licensed legal expense insurance company providing its members with legal advice and discounted fee representation on all types of legal services.
For more information visit their website at www.preferredlegal.com or call 1-888-577-3476.
ADDITIONAL INSURANCE COVERAGE
Other insurance coverages include: Group Term Life Insurance, Permanent Life Insurance, Long Term and Short Term Disability Coverage, Accidental Death and Dismemberment Insurance, long term care insurance, and payroll deductions for automobile and homeowners premiums.
Additionally, the university offers a viatical insurance plan which provides a unique resource for people with life-threatening illnesses.
RETIREMENT SYSTEMS
There are two retirement plans available to most Faculty and AMP employees -- The Optional Retirement Program (ORP) and the Florida Retirement System (FRS). All SP are automatically enrolled in the Florida Retirement System (FRS).
Employees that elect to enroll in the Florida Retirement System can choose between the FRS Pension plan or the FRS investment plan option.
Optional Retirement Program
If the Optional Retirement Program is selected, a contribution will be made to a Tax Sheltered Annuity by the University in lieu of the Florida Retirement System. Vesting in the Optional Retirement System will be immediate. Regardless of the length of service, upon retirement the employee will receive a monthly annuity income based on the amount of funds contributed, investment earnings, and type of annuity selected.
FACULTY AND AMP EMPLOYEES WHO DO NOT ENROLL IN THE OPTIONAL RETIREMENT PROGRAM WITHIN 90 DAYS FROM THEIR INITIAL DATE OF HIRE WILL RESULT IN PERMANENT AND IRREVOCABLE ENROLLMENT IN THE FLORIDA RETIREMENT SYSTEM (FRS).
Florida Retirement System
FRS Pension Plan
n Must have 6 years of creditable services in order to receive retirement benefit
n Normal retirement is considered to be age 62 with 6 years of service or 30 years of service, regardless of age.
n For Special Risk members, normal retirement is considered to be age 55 with 6 years of service or 25 years of service, regardless of age.
n Retirement benefit is based on your earnings, length of service, and membership class, and is adjusted by a 3% cost-of-living each July.
FRS Investment Plan
n You must be vested (with 1 year of FRS creditable service) in order to receive retirement benefit. (9% contribution)
n There aren't any age or service requirements for you to receive a benefit, once you've become vested. You should consult a tax specialist to get an explanation of the tax implications of early retirement
n The FRS Investment Plan is a defined contribution plan, in which employer contributions are defined by law, but your ultimate benefit depends in part on the performance of your investment funds.Provisions are available for members to claim certain types of prior service, past service, wartime military service, leave of absence, and under specific circumstances, out-of-state service. The plan also provides for benefits related to permanent and total disability.
DETAILS OF THE RETIREMENT PLANS ARE AVAILABLE IN THE BENEFITS AND RETIREMENT OFFICE.
The State of Florida, Division of Retirement Web's site is located at www.frs.state.fl.us.
U.S. SAVINGS BONDS
Employees may elect to purchase bonds through payroll deduction in denominations of $50.00 to $10K The amount of each deduction will vary depending on the bond denomination chosen and the rate of the bond purchased.
For more information visit the National Bond & Trust Company website at
www.nbtco.com
TAX SHELTERED ANNUITIES
The Internal Revenue Code provides that an employee of a college or a university may voluntarily elect to receive a reduced salary and have an annuity equal to the salary reduction.
The Federal Income Tax is deferred on such annuities until such time as an annuity income begins or the money is withdrawn from the annuity. Employees may participate with University authorized carriers.
Further information may be obtained from Benefits and Retirement or visit our
FAQ Web Site for 403b Plans and Annuities.
STATE DEFERRED COMPENSATION PLANS
University employees are allowed to participate in the State Deferred Compensation Plan. This Plan allows the employee to set aside a portion of salary with a carrier approved by the State until retirement. At that time, the deferred earnings will be considered as ordinary income.
Further information may be obtained from the Personnel Services office.
CREDIT UNIONS
Permanent employees are eligible for membership in either the Gold Coast Educational Federal Credit Union or the Bright
Star Credit Union. Both credit unions are non-profit corporations chartered under Federal laws. All payment for loans and/or savings programs may be processed through payroll deductions.
DIRECT DEPOSIT
As a condition of employment, all employees must direct deposit their paychecks to their financial institutions by an electronic funds transfer. With Direct Deposit no check will be written; payment will be credited to your account each payday. You will receive your regular earnings statement listing your gross pay, deductions and net pay
via E-mail.
LEAVE BENEFITS for Faculty and AMP
Sick Leave
13 days per year
An employee who separates from employment and has 10 years of creditable service
shall be compensated for unused Sick Leave at the employee's current regular
hourly rate of pay for one eighth (1/8) of unused Sick Leave credits accrued
prior to October 1. 1973, and one fourth (1/4) of unused Sick Leave credits
accrued after October 1, 1973, not to exceed 480 hours.
Annual Leave
22 days for full calendar year employees
Sick Leave Pool
Provides for up to 480 hours of additional leave to eligible employees who have
exhausted their existing leave and who have a documented serious or catastrophic
illness. Enrollment information is available in Benefits and Retirement. See the
new Sick Leave Pool Program Handbook.
Nine Paid Holidays
New Year's Day, Martin Luther King Day, Memorial Day, Independence Day, Labor
Day, Veterans Day, Thanksgiving Day, Friday after Thanksgiving, Christmas Day
LEAVE BENEFITS for SP employees
Sick Leave
Each full-time SP employee earns 4 hours of Sick Leave for each biweekly
period worked. Part-time SP employees earn Sick Leave credits proportionate to
time worked.
Sick Leave may be authorized for:
An employee who separates from employment and has 10 years of creditable service shall be compensated for unused Sick Leave at the employees current regular hourly rate of pay for one eighth (1/8) of unused Sick Leave credits accrued prior to October 1, 1973 and one fourth (1/4) of unused Sick Leave credits accrued after October 1, 1973, not to exceed 480 hours.
Annual
Leave
Up to 5 years of creditable service, 4 hours biweekly (13 days per year).
5 to 10 years continuous and creditable service, 5 hours biweekly (16.3 days
per year).
Over 10 years continuous and creditable service, 6 hours biweekly (19.5 days
per year).
Part-time SP employees earn Annual Leave proportionate to the full time
equivalent.
An SP employee who successfully completes the probationary period and who
separates from the University shall be paid for unused Annual Leave up to 240
hours.
Sick Leave Pool
Provides for up to 480 hours of additional leave to eligible employees who
have exhausted their existing leave and who have a documented serious or
catastrophic illness. Enrollment information is available in the Personnel
Services office. See the new Sick Leave Pool Program
Handbook.
Nine Paid Holidays
Full-time employees enjoy the following paid State holidays:
New Year's Day, Martin Luther King Day, Memorial Day,
Independence Day, Labor Day, Veterans Day, Thanksgiving Day, Friday after
Thanksgiving, Christmas Day
Personal Holiday
Support Personnel employees will earn one day of Personal
Holiday each fiscal year, after the initial 6 months of employment. The
personal holiday must be used by June 30 each year or be forfeited. Personal
holidays cannot be accrued.
DISCOUNT CARDS FOR FLORIDA ATTRACTIONS
Employees are eligible for discount cards that entitle them to special discounts on tickets and in some cases to special hotel plans and other activities in the attraction.
EQUAL OPPORTUNITY POLICY
Florida Atlantic University commits itself to a policy of nondiscrimination
It is against the policy of the University to discriminate against, or exclude from participation in benefits or activities either on the staff or in the student body, any person on the grounds of race, color, religion, sex, age, national origin or mental or physical handicap, provided such handicap, with reasonable accommodation, does not prevent satisfactory work performance.
This policy applies to each of the following personnel areas: recruitment, selection, placement, training, promotion, termination, and other personnel actions such as compensations, transfers, layoffs, return from layoffs, institution's sponsored social program(s), institution's sponsored programs, and institution's sponsored recreational programs.
Specific policies relating to these areas are written to assure equal opportunity. The Director of Equal Opportunity Programs is monitoring these areas to assure that the administrative policy is applied to each area and that all persons are granted equal opportunity.
The Office of Equal Opportunity Programs' web site is located at http://www.fau.edu/divdept/equalop/homepage.htm
If you have any questions, please contact Marie Mascaro at 561 297-3074 mmascaro@fau.edu
or Pierre Michel at 561 297-3071
pmichel@fau.edu
FAU Home Page or the Benefits Page
