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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 their premium deducted from each of the academic year payments (August through May) or 1/10th of the annual premium cost being deducted from each pay check.
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