|
|
 |
Life Insurance- Life insurance coverage is calculated by taking the employee's ‘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 10 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 (September thru May), or 1/9 of annual premium deducted from each pay.
- 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.
|
Email a Friend
Print
Larger
Smaller