Subject:
Benefits
Section: HR
Part:
Policy
Statement: 12
Effective Date: 3/21/01 The
information in this summary is not a contract and is subject to change by the
proper authorities. It should be understood that explanations in this
summary cannot alter, modify, or otherwise change the controlling legal
documents or general statues in a way, nor can any right accrue by reason of any
inclusion or omission of any statement in this summary.
Return
to Policies & Procedures
RETIREMENT
PLANS Teachers' and State Employees' Retirement
System (TSERS) - www.treasurer.state.nc.us
- Unreduced retirement benefit with: 30 years of service,
regardless of age; age 60 with 25 years of service and age 65 with 5 years
of service.
- Reduced retirement benefit at: Age 50 with 20 years of
service, and age 60 with 5 years of service.
- Death benefit after one year of membership service is
equivalent to one year of salary, but no less than 25,000 and no more than
$50,000.
- Employee contributes 6% (tax-sheltered).
- University contributes 7.83% (3.05%
Pension Fund; 4.10% Retiree Health Plan Reserve; .52% NC
Disability Income & .16% Death Benefit Plan).
Optional Retirement Plan (ORP)
- Carriers: Fidelity Investments, Lincoln National, TIAA-CREF
and VALIC.
- Option to TSERS for Faculty (Instructor and above) and Senior Academic
and Administrative Officers.
- Employee contributes 6% (tax-sheltered).
- University contributes 11.46% (6.84% ORP Pension
Fund;
4.10% Retiree Health Plan Reserve; and .52% NC Disability Income Plan.
Phased Retirement Program Policy/Procedures
http://www.uncfsu.edu/faculty_senate/previous/Policies/PhasedRetirementGuide.1.7.05.pdf
(FSU)
http://www.northcarolina.edu/content.php/legal/policymanual/uncpolicymanual_300_7_2.htm
(UNCGA)
DISABILITY INCOME PLANS
North Carolina Disability Income Plan
- Available to permanent employees participating in either
TSERS or ORP.
- Short-Term Benefits after one year of contributing service.
- Long-Term Benefits after five years of contributing
service.
- University pays full cost of coverage.
Liberty Mutual Voluntary Supplemental Group Disability Plan
- Available to participants in TSERS.
- Designed to provide coverage while ineligible for State
Disability Plan and to supplement it when eligible.
- Employee pays the full cost of coverage.
The Standard Group Supplemental Disability Plan
- Available to participants in the ORP.
- Employee pays the full cost of coverage.
HEALTH INSURANCE
Update October 2007
2007-2009
State Health Plan Rate Sheets
Benefits
Comparison Chart
How to Use Find
a Doctor
Teachers' and Employees' Comprehensive Major Medical Plan -
www.statehealthplan.state.nc.us
- University pays 100% of contribution for employee coverage.
- Permanent part-time employees (20-29 hours a week) may
participate by paying the full cost of coverage.
- Employee pays cost of dependent coverage.
LONG-TERM CARE INSURANCE
The Teacher's and State Employees' Comprehensive
Major Medical Plan offers long-term care insurance through a
contract with Prudential
- Coverage in a nursing home, assisted-living
facility or in the home.
- Dependent coverage available.
- Employee pays the full cost of coverage.
GROUP DENTAL INSURANCE
American Pioneer Life Insurance Company
- University sponsored; After-tax
- High/Low Options available.
- Dependent coverage available.
- Employee pays full cost of coverage.
NC Flex Dental Plan
- Statewide sponsored; Pre-tax premiums.
- High/Low Options available.
- Dependent coverage available.
- Employee pays the full cost of coverage.
NC FLEX BENEFITS -
www.ncflex.org
A Package of Pre-Taxed Benefits (Statewide Sponsored)
- Health Care Flexible Spending Account
- Dependent Day Care Flexible Spending Account
- Vision Care Plan
- Accidental Death & Dismemberment Insurance
- NC Flex Dental Plan
- Cancer Insurance
- Voluntary Group Term Life Insurance
EDUCATIONAL PROGRAMS
- Tuition Waiver Program
Tuition charges waived for three courses per academic year.
- University Training
Available at no cost to all employees.
US Savings Bonds
- Available to all permanent employees.
- Participation through payroll deduction.
ACCIDENT/SICKNESS/CANCER/LIFE INSURANCE
- Voluntary benefits through Colonial Life & Accident
Insurance Company and American Family Life Assurance Company (AFLAC).
VOLUNTARY TAX-SHELTERED PLANS
HOLIDAYS University Holiday Schedule
- Available to permanent employees who are regularly
scheduled to work 20 hours or more each week.
- Twelve paid holidays a year.
VACATION AND SICK LEAVE
- SPA Employees: Available to permanent employees regularly
scheduled to work 20 or more hours per week and who are in pay status for at
least half of the days in a month. Leave earnings are prorated for
part-time employees.
- Faculty Members: Available to permanent eleven
and twelve month faculty with administrative duties only.
- Serious Illness and Disability Leave for
Faculty.
VOLUNTARY SHARED LEAVE
- Available to SPA and EPA Non-Faculty permanent employees
regularly scheduled to work 20 hours or more each week.
FAMILY AND MEDICAL LEAVE
- Permanent Faculty, SPA and EPA Non-Faculty employees with
at least one year of current service (permanent or temporary) who are
regularly scheduled to work 20 hours or more each week are eligible to apply
for up to twelve weeks of family medical leave in a given 12 month period.
- Employer continues to pay employer contributions for health
insurance coverage for up to twelve weeks.
CIVIL LEAVE
- Permanent employees are entitled to civil leave when
serving on a jury duty or when subpoenaed as witnesses.
- Employee continues to receive his/her regular pay and may
also keep any jury duty fees paid.
PROFESSIONAL LEAVES OF ABSENCE
- EPA Non-Faculty Employees: Available upon approval by
Office Head and appropriate Vice Chancellor.
- Faculty: Available upon approval by Department Chairperson,
Dean and Vice Chancellor.
DIRECT DEPOSIT
STATE EMPLOYEES' CREDIT UNION
(www.ncsecu.org)
- Available to all permanent employees and their families.
- Employee must establish a share account with a minimum
deposit of $25.00.
SOCIAL SECURITY
- Employee and University each pay the same amount of taxes
(based on employee's earnings) for social security and Medicare (Part A -
Hospital Insurance) up to a maximum taxable amount established by federal
law.
WORKERS' COMPENSATION
- All employees on the payroll are covered.
UNEMPLOYMENT COMPENSATION
- All employees on the payroll are covered.
- Employees must monetarily qualify, become unemployed
through no fault of their own, and be able and available to work.
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