Summary Of Benefits: Full Time Faculty
Assumption College offers a comprehensive and valuable package of fringe benefits. This is a summary of the benefits available to full-time faculty members each academic year, beginning on September 1st. 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 to enroll themselves and their eligible 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:
Health Plan Premium Conversion in which an employee's health and other eligible benefit plan payroll deductions are made before taxes are assessed;
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. (Enrollment is on a calendar year basis unless a qualifying event occurs).
Dependent Care Assistance Plan which allows employees to pay for child care (or other dependent care) expenses on a pre-tax basis. (Enrollment is on a calendar year basis unless a qualifying event occurs).
DENTAL PLAN: Employees are eligible to enroll themselves and their eligible dependents in a dental plan. Two levels of coverage are available.
VISION SERVICE PLAN: Employees are eligible to enroll themselves and their eligible dependents in a voluntary Vision Service Plan. Covered benefits include eye exams and annual allowances for lenses, frames and contact lenses.
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 and ING Retirement Accounts. The College matches the employee’s contribution up to 5% and adds 4% to a maximum 9% contribution by the College.
LIFE INSURANCE: The College pays in full for group term life insurance coverage equal to two times employee’s basic annual salary. The policy provides additional benefits in the event of accidental death or dismemberment. Coverage begins the first of the month following date of hire.
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 as of the first of the month following date of hire.
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 participates in two tuition exchange programs, The Tuition Exchange, Inc., www.tuitionexchange.org and The Council of Independent Colleges www.cic.org. Dependent children of employees with seven years of full-time service as of September 1 of the current academic year are eligible to apply for scholarship awards. Awards are competitive and not automatic.
MOVING EXPENSES: A newly employed full-time faculty member may receive reimbursement for up to $2,500 in moving expenses if moving more than 35 miles in order to accept employment with the College. Moving must occur within 12 months of accepting a position 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 requires direct deposit from payroll to any banking institution in the United States.
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 with their College ID.