Tuesday, Mar. 31, 2015
65 ° Cloudy
The college currently offers two options for health insurance coverage. All options are provided by Anthem BlueCross and BlueShield of Virginia. Each option offers a slightly different range of benefits with a corresponding range of monthly employee cost share premiums. Employee premiums are paid by payroll deduction on a pre-tax basis. A dental plan, a Prescription Drug Plan, a vision plan, and an Employee Assistance Program are offered with each of the three options. All full-time administrative and faculty personnel may enroll at the start of the month following commencement of employment. Full-time support staff and hourly personnel are eligible to receive this coverage at the start of the month following commencement of six months of full-time employment. Open enrollment for health insurance is held annually, usually in October for a January 1st effective date.
Group life insurance is available to all full-time college employees. Premiums are paid by the college. This benefit is available to administrative and faculty personnel on the first of the month following employment, and is available to staff and hourly personnel on the first of the month following employment. This policy provides life insurance coverage at the rate of one times annual base salary rounded up to the nearest thousand unless the annual salary falls on an even thousand. It is payable to the beneficiary, designated by the employee, upon death. At the termination of employment, all previously covered employees have the option of converting to an individual policy, at the policy holder's expense.
Group long term disability insurance is available to all full- time college employees. Premiums are paid by the college. This benefit is available to administrative and faculty personnel on the first of the month following employment, and is available to staff and hourly personnel on the first of the month following employment. When approved, LTD income begins as of the ninety-first day following continuous disability and can continue to age 65. The monthly income benefit is equal to 60 percent of base monthly salary, not to exceed $7,000 per month, less any benefits payable from Social Security. Under certain conditions, LTD income for partial disability is also available.
The college offers a self-funded short term disability plan to all full-time college employees with no monthly premium requirement. The length of time an eligible employee may receive STD income is based upon total years of full-time employment with the college as follows: 0 - 1 year: not eligible; 1 - 2 years: 30 calendar days; 2 - 3 years: 60 calendar days; 3 or more years: 90 calendar days. After 90 days, the college's long term disability policy may then be in effect (based on the provisions of the policy.) In the case of faculty, short term disability leave may be extended, at the discretion of the College, for a period not to exceed one semester. For the duration of the short term disability, an employee will continue to receive full pay and benefits. The college reserves the right to evaluate all requests for short term disability pay on an individual basis. Medical documentation is required to support each request.
The flexible benefits program enables participating employees to take advantage of a unique IRS-approved program which allows reimbursement on a tax-free basis for eligible health care and/or dependent care expenses. All full-time employees are eligible to participate at the start of the month following commencement of employment. Open enrollment for this program is held annually, usually during the first two weeks of September for an October 1st effective date.
The college's retirement program is administered through TIAA-CREF. The college's monthly contribution is 8.5% as of 7/01/00 and the employee's monthly contribution is a minimum of five percent (5%) of the employee's gross monthly salary. The employee share is paid through payroll deduction on a pre-tax basis. Eligibility commences on the first of the month following employment for all exempt personnel. For non-exempt personnel, eligibility commences on the first of the month upon completion of 1.000 hours and twelve month of employment employment. Participation in this program is a condition of employment and is mandatory for all eligible personnel beginning at age 30. Participation is optional prior to that age. Additional information regarding the retirement program, and various options within the program, is available from the Director of Human Resources.
Virginia Wesleyan College has a Paid Annual Leave (PAL) system where all events which require the employee to have time off from the job (excluding recognized Virginia Wesleyan holidays and jury duty) are charged to one=s leave bank. All regularly scheduled full-time and part time-twelve month exempt and non-exempt employees are eligible for PAL accrual. Faculty members do not accrue PAL.
Although all eligible employees begin to accrue vacation hours on their date of hire, non-exempt employees may use these hours only after three (3) months of employment.
The Paid Annual Leave accrual rate is based on employee status (exempt or non-exempt) as well as length of employment. Please see Policy and Procedure #20 for details of this policy.
A full tuition waiver is granted to dependent children and the spouse of any full-time Virginia Wesleyan employee provided certain standards and criteria are met. Full-time College employees are eligible to enroll in classes on the basis of available space with full tuition waiver dependent upon the successful completion of the course. In addition, Virginia Wesleyan participates in Tuition Exchange Programs for dependent children of faculty and administrative staff. Faculty and administrative staff may apply for tuition grants for their dependent children who may be attending an institution other than Virginia Wesleyan and who is not eligible for coverage under the Tuition Exchange Program.
In addition to the above mentioned benefits which are available to full-time employees, Virginia Wesleyan offers a wide variety of benefits to its entire staff. These include full use of the Virginia Wesleyan Library facilities, check cashing privileges from either the Business Office or the Bookstore, a ten percent (10%) discount on non-sale Bookstore items, free admission to all Virginia Wesleyan College sporting events and theater presentations and membership in the Virginia Beach Schools Federal Credit Union.
This Summary of Benefits is intended to be a brief overview of benefits offered to employees of Virginia Wesleyan College. A complete description of individual benefits may be found in the Department of Human Resources. All benefits are subject to change at the College's discretion. This outline is in no way intended, nor is it to be considered, as a contract of employment.
April, 1996; rev. 9/97, 9/98, 2/99, 4/00, 12/13