Employees are always fully vested in their total account balance. These plans enable employees to supplement their retirement income by contributing a portion of their salary before taxes to an investment plan of their choice. Employees can choose from among several investment options within each plan. Brochures describing each plan are available in the Human Resources Office. Earned leave which can be used for any reason, the most common being vacation.
All eligible employees accrue annual leave at a fixed rate, based on years of service or job title.
Nonexempt employees earn 10 days per year for the first five years, with additional days added at the fifth, 10th and 20th years of service, until the maximum of 25 days per year is reached. Exempt employees earn 22 days per year. A maximum of 50 days may be carried over to the next calendar year. All regular employees, regardless of job title, accrue sick leave at the rate of 1.25 days per month of work. As faculty have 10-month contracts, they earn a total of 12.5 days per year while the remainder of employees, nonexempt as well as exempt, earn 15 days each year.