If you pay your premium with after-tax dollars, your benefit will not be taxed. As income will be lower during a period of disability, most employees choose the after-tax option to receive a benefit that is not taxed. When, according to a doctor's opinion, an employee can no longer perform the essential requirements of their job, they are considered disabled. Once the employee gains any type of employment, the LTD benefit ceases. Defined Contribution 1.
Retirement accounts are flexible.
You may make changes to your retirement accounts year round. Contact the Benefits office at 325-2963 for details. There is a three-year delayed vesting of DCP funds. Non-vested funds are returned to the university. If DCP funds are vested, the balance may remain in the account and continue to grow.