A Summary of Employee Benefits for Applicants for Regular, Full-Time Faculty and Exempt Staff Positions
This is a brief description of the current fringe benefits offered by the University. Additional information is available in the faculty and staff handbooks, in the plan documents for many of the benefit programs, and from the Director of Personnel Services.
These benefit plans, programs, and employee contributions are subject to change at any time
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Health Insurance
Health insurance is provided through BlueCross BlueShield of Tennessee. The University pays 60% of employee and family coverage for health insurance. The remaining 40% of the monthly premium is paid by the participant on a pretax basis. Monthly fees for participants are: $159.75 for individual coverage; $317.99 for employee +1 coverage, and $465.65 for family coverage. Bi-weekly fees for participants are: $73.73 for individual coverage, $146.76 for employee + one coverage, and $214.92 for family coverage.
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Life Insurance
Term life insurance, equal to an employee's annual salary rounded to the next higher thousand and limited to $100,000 coverage, is provided by the University on the date of hire. Coverage is reduced to 65% of salary at age 65, and 50% of salary at age 70. The reduced amount will be adjusted to the next higher multiple of $500 if the figure is not already a multiple of $500. Life insurance coverage is reduced to $2,000 at retirement. Supplemental Life Insurance (equal to 1 1/2 times annual salary) and Dependent Life Insurance ($3,000 coverage) are also available. Employees pay the total amount of the premiums for supplemental and dependent insurance.
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University Retirement Plan
Episcopal clergy generally participate in the Church Pension Plan. Other employees participate in the University of the South Retirement Plan. The University's Retirement Plan has two investment providers, TIAA-CREF and Fidelity Investments. Regular employees and term appointees for terms in excess of two years who work at least an equivalent of 1/2 time are eligible after one year of employment and age 26. The one-year service requirement is waived if the employee worked an equivalent of at least 1/2 time at a four-year college or university for the twelve-month period immediately prior to the date of employment. The University contributes an amount equal to 10% of salary. There is no required contribution by the participant, but participants may contribute through a voluntary salary reduction.
Educational Benefits for Spouses and Children
After three years of employment, spouses and children may be eligible for the following educational benefits:
1. Tuition scholarships at The University of the South.
2. Two tuition exchange programs with approximately 150 colleges and universities across the U.S.
3. The educational loan plan for post secondary study.
4. The High School Scholarship Plan which provides a grant to cover expenses for dependents studying at an independent secondary school of the employee's choice. The amount of the grant is determined each year. A student may receive a 100% grant per year for grades 9-12, an 80% grant per year for grades 8-12, a 66.7% grant per year for grades 7-12, or a 57.1% grant for grades 6-12.
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Long-Term Disability Plan
Long-term disability insurance is provided through Sunlife Insurance. The plan provides disability income after an illness or injury of a six-month duration. If an employee becomes totally disabled, the plan will pay the lesser of (a) $7,000 per month; or (b) 60% of the base salary less any amounts for which the employee may also be eligible under (i) any other employer-sponsored disability plan; (ii) Worker's compensation or Occupational Disease Laws; (iii) any state disability benefits law; (iv) Social Security (including any portion attributable to dependents) and (v) any disability or retirement benefits, if actually received, under the University's pension plan. Premiums are paid entirely by the University. Eligibility commences the first of the month following the employee's date of hire.
Access to University Facilities
Faculty, staff, their spouses, and their dependents have access to university facilities. The SewaneeCard provides access to the Fowler Sport and Fitness Center and to home athletic events, and passes for spouses and dependents are available for a $5.00 fee. Membership in the Golf and Tennis Club is available to full-time employees whose term is at least one academic year and to their dependents. Employees pay a $75.00 annual membership fee. The facilities, services, and materials of the duPont Library are also available, and employees and their dependents have free access to the University's concert series.
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Relocation Expenses
Relocation expenses are paid at the lesser of the actual expenses or 8% of initial annual salary.
Travel Insurance
Any employee traveling on University business is covered by a $100,000 life insurance policy.
Auto-Homeowners Insurance
Coverage for automobile and homeowner/rental insurance is available to employees through Merastar/Unitrin. Employees are individually rated depending on coverage selected. Coverage is available beginning the first of the month following date of hire. The employee pays the total premium through payroll deduction.
Dental Insurance
Two types of dental insurance are available through payroll deductions. Employees are eligible to begin participation in the plan upon the first day of the month following employment. If election is not made within thirty days of employment, then employees must wait until the annual enrollment period, which is normally in November. Current 2008 monthly premiums from CompDent for the Elite Schedule D are $17.50 for employee coverage, $33.76 for employee +1, and $51.76 for family coverage. There will be no increase in the 2009 rates for the Elite Schedule D plan. Current 2008 monthly premiums from CompDent HMO EP500 plan are 28.72 for employee coverage, $56.22 for employee + 1 coverage and $102.58 for family coverage . The 2009 monthly premiums from the CompDent HMO EP 500 are $31.22f or employee coverage, $61.12 for employee + 1 coverage and $111.52 for family coverage.
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Housing
Rental housing units are available through the University Rental Housing Office. Employees may also lease property for an individual residence and receive a discount on the annual lease fee. Contact the Superintendent of Leases for further information.
Vacation, Holidays, Personal Leave, Sick Leave, and Short-term Disability Leave
Exempt employees with full-year appointments accrue two days of vacation and one day of sick leave for each month worked. They are also eligible for one day of personal leave and ten holidays each year and earn one month of short-term disability leave for each year worked. Vacation must be taken within twenty-four months of being earned. The maximum sick leave that may be accrued is forty days and the maximum short-term disability leave that may be accrued is 110 days.
Pay Schedule
Checks for the exempt payroll are issued on the 25th of each month covering earnings for the entire month. Direct deposit of payroll checks is available and encouraged.
