Employees can cover their eligible dependents at an additional premium. The amount of life insurance is based on your salary, and the premium is based on your age. Available to employees, their spouses, their parents and their spouses' parents. Provides benefits for a wide range of personal services. Provides employees with a paid-up policy at retirement.
Premium depends upon employee's age.
Allows employees to save for retirement on a pre-tax basis. Projected expenses in certain categories can be subtracted from gross income to reduce taxable income. This program, which is mandatory for faculty, but optional for staff, provides life insurance and disability coverage at a group rate. There is a set premium for the life insurance, and the premium for the disability coverage depends upon the employee's salary, which is paid for by the employee. The premiums are paid by the employee through payroll deduction, and benefits are paid directly to the employee over and above hospitalization major medical plans.