Employee Benefits Summary
Regular full-time employees are eligible to enroll in the various plans the University provides by contacting the Director of Human Resources. The following information on the plans is not all inclusive. It is the employee's responsibility to enroll and become familiar with the benefits, limitations, and options. Please review each benefit for any additional qualifications for eligibility.
The University currently has three health insurance plan options with Humana, Inc. You may view details regarding coverage levels and cost for the plans by following this link.
Employees may participate in the vision care insurance plan through National Vision Administrators on a voluntary basis.
A defined contribution retirement plan is provided to all eligible employees. The University contributes 7.5% of qualifying base salary and base wages on behalf of the employee. To be eligible, the employee must be employed on a regular full-time or half-time basis and have one full year of service with the University. University provided contributions are fully vested after three years of employment. TIAA-CREF is the provider of retirement investment services.
Supplemental Retirement Annuity Plan
Regular employees can elect to participate in the voluntary Supplemental Retirement Annuity Plan (SRA). In general, employees place part of their pre-tax earnings into their SRA account by payroll reduction.
Term Life and Accidental Death and Dismemberment Insurance
The University pays the entire premium for term life and accidental death and dismemberment policies equal to the employees' salary. Benefits are stated in thousands of dollars and are based upon the employee's base salary or annualized base wages. An eligible employee must work at least 20 hours per week in a regular full-time position. In addition, an eligible employees spouse is covered for $20,000, and an employee’s dependents receive $4,000 in coverage. An employee can also elect additional voluntary coverage equal to one, two, or three times his or her salary.
TU-Flex Section 125 Plan
Employees are automatically enrolled in the TU-Flex premium conversion account, which permits an employee to pay any out-of pocket health or dental premiums with pre-tax dollars. The TU-Flex plan also has two flexible spending accounts: (1) health care reimbursement account, and (2) dependent care reimbursement account.
Regular full-time employees shall earn vacation leave according to the schedule. An employee must be in a pay status for one half or more work days in a pay period to earn vacation leave for the pay period. Vacation leave is earned on each paydate.
Temporary Disability (Sick Leave)
Regular full-time employees shall earn one day of temporary disability leave for each month of continuous employment. An employee must be in a pay status for one half or more work days in a month to earn temporary disability leave for the month. Temporary disability leave is earned on the 15th day of the month. Temporary disability leave may accumulate up to a total of 130 work days. Employees are encouraged to accumulate temporary disability leave in case of an extended injury or illness. An employee’s temporary disability leave serves as his/her short term disability insurance.
Long–Term Disability Insurance
The University pays the entire premium for long-term disability insurance. Benefits are supplemental to (integrated with) social security benefits such that combined monthly payments are equal to 60 percent of normal monthly compensation to a maximum of $8,000 per month. An eligible employee must have completed one year of employment and work at least 20 hours per week in a regular full-time position.
Education Defrayal Program
The University defrays tuition fees for employees who have completed one year of employment and work at least 30 hours per week in a regular full-time position.
An eligible employee may, with the supervisor's permission, take one credit course per term, with no tuition charge.
After one year of employment, an eligible employee's qualifying child (as defined by the internal revenue code) may enroll in a regular degree program and receive full (100 percent) defrayal of tuition.
Graduate Level Tuition Reimbursement Program
The University will reimburse seventy-five percent (75%) of the cost of graduate education for employees who have completed one year of employment and are employed in a regular half-time or full-time position where the employee is expected to work 30 hours per week or more for at least nine months of the academic year. Additional eligibility criteria can be found in the employee handbook.
Parking is available to all employees at no cost. University food services are provided by Sodexho/Marriott and are available at a discounted rate to employees with the use of a Crimson Card. All employees also receive free access to the fitness facility in the Beck Center. This includes the opportunity to use the indoor walking track, gym, and locker rooms. Transylvania University is also a participating member of The Tuition Exchange, Inc. Details can be found at http://www.tuitionexchange.org.