staffpershandbook 2011[1] - Flagler College
staffpershandbook 2011[1] - Flagler College
staffpershandbook 2011[1] - Flagler College
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III.2 Other Insurance Benefits<br />
Group term life insurance ($10,000.00) and long-term disability insurance are provided to all full-time<br />
employees at no cost. Employees are eligible upon hire with no waiting period for these insurance benefits.<br />
This benefit also includes an emergency travel assistance program. These benefits will be reviewed during<br />
New Employee Orientation and require paperwork on behalf of the employee. Information about these<br />
benefits can be obtained through the Human Resource Benefit Coordinator’s office.<br />
III.3 Voluntary Insurance Benefits<br />
Individual life insurance, short term disability (a post tax benefit), flexible spending accounts,<br />
hospitalization insurance, cancer, accident protection, dental insurance, and vision insurance are available<br />
to employees through payroll deduction. These benefits are classified as voluntary due to the fact that<br />
<strong>Flagler</strong> <strong>College</strong> pays no portion of the premium for these benefits. With the exception of Short Term<br />
Disability, insurance mentioned in this section qualifies for pre-tax status under the IRS Section 125<br />
Cafeteria Plan.<br />
III.4 Employee Assistance Program (EAP)<br />
The <strong>College</strong> participates in an agreement to provide counseling services by qualified and licensed<br />
psychologists or mental health counselors. The program provides a total of three (3) counseling sessions<br />
per year for each employee, free of charge. These counseling sessions may be used by the employee or his<br />
or her spouse or child. Information about this program is available from the Office of Human Resources.<br />
III.5 Retirement Benefit (Matching Plan)<br />
Retirement Annuity -<br />
The <strong>College</strong> participates in a retirement plan with the Teachers Insurance and Annuity Association<br />
(TIAA/CREF). TIAA/CREF is a legal reserve life insurance and annuity company serving the medical<br />
community and the educational community.<br />
Plan contributions for the match plan as a percentage of salary are:<br />
Years of Service Employee <strong>College</strong> Total<br />
1-10 5% (minimum) 5% 10%<br />
11-15 5% (minimum) 7.5% 12.5%<br />
Over 15 5% (minimum) 10% 15%<br />
Contributors are fully vested immediately. Contributions are tax-deferred. Once eligible (following one<br />
year of continuous employment) the employee may contribute via payroll deduction. Full time employees<br />
may participate if they are age 18 or older.<br />
Group Supplemental Retirement Annuity –<br />
This voluntary benefit is available to all full time employees after the first 30 days of employment. The<br />
Group Supplemental Retirement Annuity or GSRA does not receive a match or contribution from the<br />
<strong>College</strong>. This is a tax-deferred voluntary plan. Information regarding this plan is available from the Human<br />
Resource Benefit Coordinator.<br />
<strong>Flagler</strong> <strong>College</strong> at its option, may change, delete, suspend or discontinue parts or the policy in its <br />
entirety, at any time and without prior notice. In the event of a policy change, employees will be <br />
notified. Any such action shall apply to existing as well as future employees. Page 13