The cost to continue coverage is 102 percent of the total cost. Otherwise, enrollment may take place during the open enrollment period to be effective January 1 of the next year or within 30 days of a qualifying status change. This coverage includes an equal amount of accidental death and dismemberment insurance. Otherwise, setting or rescinding a limit may occur during open enrollment to be effective January 1 of the next year. Dependent life insurance may also be purchased.
Coverage is effective the first of any month, subject to insurance company approval.
Retirement Program Regular or fixed-term employees working 20 hours or more per week and scheduled to work 720 hours or more per fiscal year may enroll in the Rensselaer Defined Contribution Retirement Program. Enrollment is effective the first of the month following the date of hire or on the first of any month thereafter following receipt of enrollment forms by the Treasurer's Office. Employees contribute 1 percent of gross earnings per pay period on a pretax basis. Rensselaer contributes 8 percent of the same applicable gross earnings. Supplemental Retirement Program Employees may shelter wages from federal and state taxes by electing to defer earnings to tax-sheltered annuities offered at Rensselaer.