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Life Insurance
- Life insurance coverage is calculated by taking the employees ‘base pay' x 103% x 2 and rounding to the nearest thousand. The maximum coverage amount is $75,000.
- Employee share of premiums is $0.07/thousand dollars of coverage.
Deductions
- Bi-Weekly Staff/Service Employees have their monthly premium deducted from the first check of the month.
- Bi-Weekly Dining Service 9 month Employees have 1 regular monthly premium and 1/3 of a monthly premium deducted from the first check of the month for each of their regular (not including summer) pay periods.
- Exempt/Faculty/Professional Fiscal Year Employees have one monthly premium deducted from each monthly check.
- Faculty/Professional Academic Year Employees have one monthly premium deducted from the September 15th check and each regular monthly check until May 15th at which time premiums for May, June and July will be deducted (monthly premium times 3).
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