Coverage for health, dental and vision insurance is effective the first of the month following date of hire when hired between the 1st and 15th and the first of the second month following date of hire when hired between the 16th and 31st. Coverage for life and long term disability insurance is effective immediately. Administration of this account is governed by Section 125 of the Internal Revenue Code. Because this is an educational institution, it is possible for employees to shelter a portion of their salary. There are several companies from which to choose.
Tax laws govern enrollment and administration of the plans.
Employees and family members may join at any time. In addition to free savings and checking accounts, a variety of loans are available. Employees who have or open a checking account with Bank of America can receive a variety of special banking benefits. Fees are charged. Administrators, professionals and support staff earn 15 days sick leave per year.