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Summary
of Benefits
Assumption College offers a comprehensive and valuable package of fringe benefits. This is a summary of the benefits available to full-time faculty members. For a complete description of the various programs, please contact the Office of Human Resources, Room 109, Alumni Hall, Ext. 7318. HEALTH PLANS: Employees are eligible upon employment to enroll themselves and their dependents in one of the health plans offered by the College. PLAN 125: Under this program employees can save money by paying for their out-of-pocket health care costs and dependent care expenses with pre-tax dollars. Plan 125 consists of three parts: 1) Health Plan Premium Conversion in which an employee's health and/or dental plan payroll deductions are made before taxes are assessed; 2) Medical/Dental Reimbursement Plan which allows employees to use pre-tax dollars to pay for eligible medical or dental expenses which are not covered by their health plan; 3) Dependent Care Assistance Plan which allows employees to pay for child care (or other dependent care) expenses on a pre-tax basis. DENTAL PLAN: Employees are eligible upon employment to enroll themselves and their dependents in a dental plan. Two levels of coverage are available. DEFINED CONTRIBUTION RETIREMENT PLAN: Contributions to the defined contribution retirement plan can be tax-deferred, and are immediately and fully vested. The investment choices include TIAA-CREF Retirement Accounts and METLIFE Investment Divisions and fixed interest accounts. The College matches the employee's contribution up to 5% and adds 4% to a maximum 9% contribution by the College. Employees are eligible to participate as of the first of the month after date of hire. SUPPLEMENTAL RETIREMENT CONTRIBUTIONS AND/OR ANNUITIES: Federal law allows employees of educational institutions to set aside tax-deferred retirement contributions in addition to matching contributions. Employees are eligible to participate upon employment.
SUPPLEMENTAL LIFE INSURANCE: Employees may purchase additional amounts of life insurance through payroll deduction. Both term and permanent life insurance are available to the employee, spouse, and children. Premium rate information is available from The Protector Group Insurance Agency. SHORT-TERM DISABILITY The College provides for salary continuation at a full or partial rate during the first six (6) months of a total disability lasting at least three (3) months. Faculty members must have completed one year of full-time service to be eligible for this benefit. LONG-TERM DISABILITY INSURANCE: This optional plan provides a monthly income of 60% of salary during a total disability lasting six months or more. Beginning with the seventh month, 14% of salary is contributed to a retirement plan. The College and the employee share in the cost of this coverage. Employees are eligible to participate upon employment. EMPLOYEE ASSISTANCE PROGRAM: The Wellness Corporation provides EAP services to employees, which include assessment and referral services, short-term counseling, referrals for budget and debt counseling, legal consultations, and work/life benefits. You and any household members can use this program. TUITION REMISSION: Employees may enroll in up to two Assumption College Continuing Education or Graduate Studies courses per term with the tuition waived. Eligibility begins with the first full semester after completing one year of service. Spouses and dependent children are entitled to partial tuition remission for undergraduate courses after the eligible spouse/parent completes two years of full-time service and full tuition remission after four years of service. TUITION EXCHANGE: Assumption College is one of over 500 participating institutions in The Tuition Exchange, Inc., www.tuitionexchange.org, a non-profit 501c3 association. TE is a reciprocal scholarship program for children and other family members of eligible employees at participating institutions. Awards are competitive and not automatic. Dependent children of employees are eligible to apply for this program once their parent has completed at least seven years of full-time service as of September 1 of the current academic year. MOVING EXPENSES: A newly employed full-time faculty member may receive reimbursement for up to $2500 in moving expenses if moving more than 35 miles in order to accept employment with the College. Please note that Federal Law requires the College to withhold taxes from reimbursement for moving expenses. PERSONAL INSURANCE/PAYROLL DEDUCTION PROGRAM: Employees may purchase auto, homeowner's, liability, and other types of personal insurance through payroll deduction. Discounts are available for some types of coverage. The plan is administered by the Protector Group Insurance Agency and underwritten by the Hanover Insurance Company. DIRECT DEPOSIT: The College offers direct deposit from payroll to most banks. PLOURDE RECREATION CENTER: Employees are welcomed and encouraged to use the recreational and fitness facilities located in the Plourde Center. With your College Id, admission to the center is free. Some special programs and classes require a small fee. Employees who wish to bring family members may do so by purchasing a membership. Contact the Plourde Center for information regarding schedules, programs, and fees. WORCESTER ART MUSEUM: Employees are entitled to free admission to the museum during its regular hours. Institutional passes may be obtained from the Office of Human Resources. MASS BUYING POWER/BUY AMERICA BENEFITS: These Consumer Benefits Programs offer you and your immediate family members access to a range of goods and services (such as cars, appliances, travel, computer, furniture) at substantial savings. The discount structure varies by category. There is no charge to the employee for this service, and purchases are the sole obligation of the individual. www.buyamericabenefits.com login: assumption.edu 4/2008
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