the city university of new york benefits orientation -full time instructional staff- office of human...
TRANSCRIPT
The City University of New York
Benefits Orientation-Full Time Instructional Staff-
Office of Human Resources Management
University Benefits
Updated 1/15/08 by
The University Benefits Office 2
YOUR BENEFITS INCLUDE:
Pension Plans Alternative Funding Vehicles (AFV’s) Tax Deferred Annuity (TDA)-Voluntary
Savings NYS Deferred Compensation Plan NYC Health Benefits Program PSC-CUNY Welfare Fund Benefits Leaves Retirement Other Benefits
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The University Benefits Office 3
PENSION PLANS
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The University Benefits Office 4
CHOOSING A PENSION PLAN!
Your Choices are…
Teachers’ Retirement System of the City of NY (TRS)
TIAA-CREF - (Optional Retirement Program) NYC Employees’ Retirement System (ERS)
(only as a Transferred Contributor) Board of Education Retirement System (BOERS)
(only as a Transferred Contributor)
Please note: New employees have 30 days from appointment date to choose a retirement plan. If no choice is made within 30 days, New York State Education Law Section 6253 mandates that the employee be assigned to TRS
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CHOOSING A PENSION PLAN! Review at a Glance!
TRS Defined benefit plan Vesting after 5 years Employee contributes 3% of base
salary, pre-tax to the Qualified Pension Plan (QPP) for the first 10 years of public employment
Employer contributes a lump-sum to the pension fund, not individual accounts
Benefits are based on age, final average salary (FAS) and years of service credit
TIAA-CREF (ORP) Defined contribution plan Vesting after 366 days Employee contributes 3% of base
salary, pre-tax Employer contributes 8% of salary
for the first seven years and 10% thereafter
Employer/employee Contributions held in suspense for 366 days unless you have a vested open retirement plan contract
Benefits are based on the amounts contributed by the employer and the employee and the investment experience
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The University Benefits Office 6
TEACHERS’ RETIREMENT SYSTEM OF THE CITY OF NEW
YORK
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The University Benefits Office 7
TRSWho Can Participate?
full-time or a part-time Instructional Staff or
pre-existing TRS members
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TRSHow do I Enroll?
To enroll in TRS, you must obtain from yourHuman Resources/Personnel Office andcomplete the following:
The Tier III/IV Enrollment Application and Beneficiary Form
• must be notarized• necessary proof of birth
documentation must be submitted The Retirement Program Election Form
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TRSWhen Does your Pension Plan
Become Effective?
Your membership begins on the day that TRS receives your Tier III/IV Enrollment Application or 30 days after your CUNY appointment, whichever comes first.
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TRSTier Status
Tier I members joined TRS before July 1, 1973
Tier II members joined TRS after June 30, 1973, but before July 27, 1976
Tier III members joined TRS after July 26, 1976, but before September 1, 1983
Tier IV members joined TRS after August 31, 1983
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TRS Transferring Membership
After joining TRS, you must contact the previous retirement system listed below to initiate transfer of your previous membership service:
NYC Employees’ Retirement System NYC Board of Education NYC Fire Department Fund NYC Police Department Pension Fund NYS and Local Police and Fire Retirement
System NYS Teachers’ Retirement System NYS and Local Employees’ Retirement
Systems
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TRS Important Facts
Benefits are based on age, final average salary (FAS) and years of service credit (service prorated for part-time members)
Vesting occurs after completing 5 full time years of membership service as an Instructional Staff member
If you are an in-service member who is at least age 55 and have completed at least five years of membership service, you would be eligible to receive immediate payment of a reduced retirement allowance. However, if you were hired after 12/27/01 you will need 10 years of service to receive retiree health insurance
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TRS Tier IV Service Retirement
Calculation of a Retirement Benefit
Service Credit Tier IV Service Retirement
Less than 20 years 1 2/3% of FAS x years of service credit
20-29 years 2% of FAS x years of service credit
30 or more years 60% of FAS for first 30 years of service+ 1 ½% of FAS x years of service
creditexceeding 30 years
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OPTIONAL RETIREMENT PROGRAM (ORP)
Currently TIAA-CREF
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TIAA-CREF Who can Participate?
All full-time Instructional Staff members are eligible for membership in TIAA-CREF (ORP) at the City University of New York
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TIAA-CREF How do I Enroll?
To enroll in TIAA-CREF you must obtainfrom your Human Resources/PersonnelOffice:
The TIAA-CREF Retirement Annuity Application
The Retirement Program Election Form
• you must list beneficiaries
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TIAA-CREFVesting Cycle
If you do not have a previous vested CUNY Retirement Annuity contract or a vested open retirement plan contract from another employer, employee & employer contributions will be held in a suspense account for 366 days (the vesting cycle)
For Senior Colleges: Upon the completion of the vesting cycle, employee contributions which are being held in an escrow account in Albany will be sent from the Office of the State Comptroller (OSC) and applied to your TIAA-CREF annuity contracts with 2% interest. The University will apply the employer contributions to with 2% interest to your contracts
For Community Colleges: Upon the completion of the vesting cycle, employee contributions which are being held in a deposit fund at TIAA-CREF will be applied with 2% interest to your contracts. The University will apply the employer contributions with 2% interest to your contracts
After vesting you will start receiving quarterly statements from TIAA-CREF
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TIAA-CREFImpact of Multiple Employment
on Contributions
Effective July 1, 2001, earnings in a part-time/hourly Instructional Staff position held by a full-time Instructional Staff member became pensionable
Part-time earnings require both employee and employer contributions
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TIAA-CREF How do I Initiate My Multiple Employment
Deductions?
When a full-time Instructional Staff member is appointed to an part time/hourly position for the first time, they must complete the multiple position form (102b). Forms can be obtained in the:
• Office of the Provost• Office of the Academic Deans• Academic Departments• Evening & Summer Session Office• Benefits Office• Human Resources Office
Please review your pay stubs to ensure appropriate pension deductions
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TIAA-CREF Important Facts
Benefits are based on the amounts contributed by the employer, the employee and the investment experience
Vesting occurs after completing 366 days of full-time continuous service as an Instructional Staff member (waived if there is a vested open TIAA retirement plan contract)
After the 366 day vesting period, employees are allowed to move funds to the Alternate Funding Vehicles MetLife or Guardian
There is no minimum retirement age required to collect a retirement allowance. However, there is a tax penalty for early withdrawal
Updated 03/05/09 by
The University Benefits Office 21
If you have more than ten (10) years of ORP membershipYou are required to contribute 2% of your GROSS pay to your TIAA-CREF ORP Account. CUNY contributes an amount equal to 9% of your yearly salary. Once you reach seven (7) years of employment as an Instructional Staff Member, CUNY will contribute an amount equal to 11% of your yearly salary thereafter.
Effective April 1, 2009:Employees who contribute 2% will have their employee contribution reduced to 1%, and 2% of their employee contribution made by the State or the City.
Effective April 1, 2010:Employees who have ten or more years of CUNY membership, will have the total 3% employee contribution made by the State or the City.
Changes to Employer and Employee Contribution Rates Tier V
TIAA-CREF Important Facts Cont…
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ALTERNATE FUNDING VEHICLES
(AFV’s)
In order to allow for diversification of your ORP investments two AFV’s are permitted. At present, the AFV’s are the Guardian (represented by the Halliday Financial Group) and MetLife. Once you are vested (after 366 days) in your retirement annuity you may transfer your assets. Please review with each vendor what fees, if any, apply to such transfers. Contact your Human Resources/Personnel Office for further details
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The University Benefits Office 23
TDA or Supplemental Retirement Annuity 403(b)
&New York State Deferred
Compensation Plan 457 (b)
TAX DEFERRED ANNUITY (TDA) &
DEFERRED COMPENSATION PLAN
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HOW DO I ADD TO MY PERSONAL INVESTMENTS FOR
RETIREMENT?
Employees have the option of participating in a tax-deferred annuity 403(b) or a deferred compensation plan 457(b)
The tax-deferred annuity 403(b) and deferred compensation plan 457(b) allows employees to set aside pre-tax dollars subject to IRS limits
As a result, the employee may voluntarily reduce their taxable income
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TAX DEFERRED ANNUITYOptions
Teachers’ Retirement System of the City of New York (for current members only)
TIAA-CREF
Lincoln Life (represented by the Halliday Financial Group - HFG)
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The University Benefits Office 26
DEFERRED COMPENSATION PLAN Options
New York State Deferred Compensation Plan – 457(b)
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The University Benefits Office 27
TAX DEFERRED ANNUITY Limits
Pre-Tax Savings – Goal Amounts 2009 $16,500 – 402(g) limit $5,500 – additional if you are 50 years or older
you are allowed to make additional catch-up elective deferral contributions
$3,000 – additional if you have 15 years of full-time service in CUNY. Catch-up provision - up to $3,000 per year and $15,000 over the period of employment at an institution
deferred savings includes any pre-tax monies set aside, including Flexible Spending Accounts
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The University Benefits Office 28
NYS DEFERRED COMPENSATION PLAN Limits
Pre-Tax Savings – Goal Amounts 2009 $16,500 – 402(g) limit $5,500 – additional if you are 50
years or older you are allowed to make additional catch-up elective deferral contributions
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NYC HEALTH BENEFITS PROGRAM
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HEALTH BENEFITS Who can Participate?
If you work on a regular schedule at least 20 hours per week and
Your appointment is expected to last for more than six months and
You are being paid from tax-levy funds
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Complete the Health Benefits Application (Form ERB)
To enroll any eligible dependents you must submit acceptable documentation to support their eligibility status and
Return the health benefits application to the Human Resources Department within 30 days
HEALTH BENEFITS How do I enroll?
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HEALTH BENEFITS Who can be Covered?
A legally married husband or wife, but never an ex-spouse
Domestic Partner Unmarried children under age 19 Unmarried children between 19 & 23 who
are full- time students in an accredited educational institution
Unmarried children who cannot support themselves due to disability that occurred while the dependent was covered by the City
Updated 3/5/09 by The University Benefits Office 33
DOMESTIC PARTNER
A domestic partner is: at least 18 years of age, living together with the participant in a current continuous and
committed relationship, not related by blood to the participant in a manner that would
bar marriage in New York State If you live in a jurisdiction that has adopted a policy of allowing legal registration for domestic partners you must legally register your domestic partnership in the state or county of residency.
If you live in a jurisdiction that has not adopted a policy of allowing legal registration for domestic partners you must complete and notarize an Alternative Affidavit of Domestic Partnership and a sworn Declaration of Financial Interdependence.
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TAX CONSEQUENCES OF HEALTH BENEFITS FOR DOMESTIC
PARTNERS
Based on Internal Revenue Service (IRS) policy, health benefits provided by the City and union welfare funds to domestic partners are considered income to employees and retireesThis additional income is subject to Federal, State, and local tax plus Social Security/ Medicare taxes
Upated 1/15/08 by The University Benefits Office 35
HEALTH BENEFITSTypes of Health Plans and Services Offered
Health Maintenance Organizations (HMO) – A system of healthcare that provides managed, pre-paid hospital and medical services to its members. An HMO member chooses a Primary Care Physician (PCP) from within the HMO networkPlans presently offered: Aetna HMO, CIGNA Healthcare, GHI HMO, Empire HMO, Healthnet, HIP Prime HMO and Vytra Health Plans
Exclusive Provider Organization (EPO) – Offers a higher level of choice and flexibility than many other managed care plans. Members can see any EPO network provider. There is no need to choose a PCP and no referrals are necessary to see a specialist. Plans presently offered: Empire EPO
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Point of Service (POS) – Offers the freedom to use a network or an out-of-network provider for medical and hospital care. When using out-of-network providers, healthcare delivery resembles that of a traditional indemnity planPlans presently offered: Aetna QPOS and HIP Prime POS
Preferred Provider Organization (PPO) – Offers the freedom to use either a network or an out-of-network provider for medical and hospital care. Participating plans contract with health care providers who agree to accept negotiated lower payment from the health planPlans presently offered: GHI-CBP/EBCBS
HEALTH BENEFITSTypes of Health Plans and Services Offered
cont..
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HEALTH BENEFITS How to Select a Health Plan?
Coverage - some plans offer preventative services while others do not
Choice of Doctor - some plans offer partial reimbursement when non-participating doctors are used
Convenience of Access - home or work Cost - some plans require payroll
deductions for basic coverage while others charge for the optional rider only
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HEALTH BENEFITS Transfer Period
The Transfer Period is a time in which you canmake changes to your health plan withouthaving a qualifying event The NYC Health Benefits Program
determines the exact dates; usually it is during the Fall
All changes become effective the first day of the first full pay period in January of the next year
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HEALTH BENEFITS Cost of Health Coverage
The rates vary depending on the type of plan & carrier you choose
Refer to the City’s Summary Program Description (SPD) and updates for rates and information. www.nyc.gov/html/olr
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PSC-CUNY WELFARE FUND BENEFITS
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PSC-CUNY WELFARE FUND Who is eligible for benefits?
must be eligible for health coverage under the NYC Health Benefits Program
full-time Instructional Staff members with a six month or more appointment
paid from tax-levy funds working at least 20 hours per week
Updated 3/5/09 by The University Benefits Office 42
PSC-CUNY WELFARE FUNDWhat Titles are Eligible for
Benefits?
Instructional Staff Groupsincluded:
College Laboratory Technician series
Higher Education Officer series Full-time faculty titles Continuing Education Teachers
Classified Managerial Staff Members
included:
Administrative Superintendent (B&G) Assistant College Security Director Chief Administrative Superintendent of
Campus Buildings and Grounds (B&G) College Security Director Computer Operations Manager Computer Systems Manager Deputy University Security Director University Associate Chief Engineer University Chief Architect University Chief Engineer University Security Director
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The University Benefits Office 43
PSC-CUNY WELFARE FUNDHow do I enroll?
You must complete the PSC-CUNY Welfare Fund Enrollment Form which you can obtain from your Human Resources/Personnel Office
To enroll any eligible dependents, you must submit acceptable documentation to support their eligibility status
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PSC-CUNY WELFARE FUNDWhat is the Effective Date of
Coverage?
Your PSC-CUNY Welfare Fund benefits begins on the 1st day of the next month following your appointment (or on the first day of the month if you start on the 1st day of the month), if your enrollment form (data sheet and supporting documentation) is received within 31 days
If the Human Resources Department does not receive your enrollment form within 31 days of your appointment date, your benefits may be delayed, and you may be subject to a loss of benefits
Updated 3/5/09 by The University Benefits Office 45
PSC-CUNY WELFARE FUND Non Contributory Plans
Non Contributory Plans are provided by the PSC/CUNY
Welfare Fund at no cost to you. These include:
Extended Medical Benefit for members in GHI-CBP/Empire Blue Cross Blue Shield
Death Benefit Dental Plan Group Long Term Disability Optical & Hearing Aid Benefits Prescription Drug Plan
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EXTENDED MEDICAL BENEFIT
Deductible For those who purchased the optional rider through
GHI the deductible is $1,000 for individual plan and $2,000 for a family plan;
For those who do not purchase the Optional Rider the deductible is $4,000 for an individual plan and $8,000 for a family plan
Coinsurance After deductible is met, GHI pays 60% of R & C not
paid by GHI After 60% coinsurance equals $3,000 for individual or
$6,000 for family in a calendar year, GHI will pay 100% of R & C not paid by GHI
Updated 3/5/09 by The University Benefits Office 47
EXTENDED MEDICAL BENEFIT
GHI-CBP Members Only
If you have covered medical expenses that are not completely reimbursed under your GHI-CBP plan, you can use the Extended Medical Benefit. When your GHI-CBP allowance for covered procedures doesn't cover your medical bills completely, the major medical supplement gives you added financial security.
Managed by Administration Services Only, Inc. (ASO)
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DEATH BENEFIT
If you die in active service, your designated beneficiary is entitled to a $2,500 death benefit
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The University Benefits Office 49
DENTAL PLAN
DeltaCare USA Program No deductibles, premiums, claim forms, or annual limitsChoose from HMO NetworkOut-of-pocket expenses vary depending on servicesOrthodontia coverage for children and adultsMust enroll by completing a Delta Dental enrollment form
Guardian Dental Guard PreferredNo deductibles, premiums, or annual limitsChoose participating or non-participating providersOut-of-pocket expenses vary depending on servicesOrthodontia coverage for children Automatic enrollment unless you elect to participate in DeltaCare USA
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GROUP LONG TERM DISABILITY
Coverage through the Standard Insurance Company after completing one year of service
Basic Disability coverage pays 50% of the pre-disability salary with a minimum of $1,250 monthly and a maximum, of $2,500 monthly before offsets
Begins 1st of month following six consecutive months of total disability
Benefits continue to the earlier of five years or age 70, which ever comes first
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OPTICAL BENEFITS
Benefits available once every 24 months General Vision
• Plan includes eye exam and prescription/glasses• Other options at your expense
Davis Vision• Plan includes eye exam and prescription/glasses• Co-pay of $25 for contact lenses
Direct reimbursement Plan• Maximum reimbursement of $100 for prescription
glasses purchased through a non-participating provider
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OPTICAL BENEFITS cont…
General Vision Services (GVS) offers the "Off Year" benefit for dependent children who have a prescription change in the year following the year of the use of the benefit. You MUST notify GVS that you are using this benefit at the time of service.
Davis Vision offers a percentage discount on the "Offer Year" for contacts or frames and lenses.
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HEARING AID BENEFIT
Benefits available once every 36 months
Direct reimbursement of $500 maximum
The Speech & Hearing Center of Brooklyn College
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PRESCRIPTION DRUG BENEFIT
Medco Health (Primary Plan)
Ability to get your prescription through a network of participating retail pharmacies or through the Medco Health Home Delivery Pharmacy
• maintenance drugs may be purchased through Medco Health Home Delivery Pharmacy
How to contact Medco Health:• Member Services 1.866.386.3797• www.medcohealth.com
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PRESCRIPTION DRUG BENEFIT cont..
Medco Health Home Delivery Service
Maintenance Drugs Ability to get up to 100-day supply of
medication Pay a 20%* coinsurance with a minimum of
$10.00 for generic drugs Pay a 20%* coinsurance with a minimum of
$30.00 for formulary drugs Pay a 20%* coinsurance with a minimum of
$60.00 for non-formulary drugs*which ever is greater
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PRESCRIPTION DRUG BENEFIT cont..
Medco Health Retail Network Service
Medication needed for short periods of time, up to a 30-day supply of medication
You pay a 20%* coinsurance with a minimum of $5.00 for generic drugs
You pay a 20%* coinsurance with a minimum of $15.00 for formulary drugs
You pay a 20%* coinsurance with a minimum of $30.00 for non-formulary drugs
Coinsurance will increase to 35% if you continue to use retail pharmacy after second refill
*which ever is greater
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PRESCRIPTION DRUG BENEFIT cont..
Nonparticipating Pharmacies
If you use nonparticipating pharmacies: you must pay the full cost of a
prescription complete a direct reimbursement
claim form and submit to Medco Health
if you complete a direct reimbursement you will be reimbursed for a portion of the cost
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The University Benefits Office 58
PSC-CUNY WELFARE FUND Contributory Plans
Contributory Plans are voluntary andrequire a contribution from you. Theseinclude: Catastrophe Major Medical Optional Long Term Disability Term Life Insurance (provided through
NYSUT) Long Term Care
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CATASTROPHE MAJOR MEDICAL
(voluntary, must purchase)
Supplement to basic health policy. Provided through Marsh Affinity
$10,000 deductible Premium based upon age at time of
enrollment Plan pays up to $2 million for up to ten years
for covered services (medical, surgical & convalescent expenses)
Updated 3/5/09 by The University Benefits Office 60
GROUP LONG TERM DISABILITY
Optional Coverage (voluntary, must purchase)
Coverage through the Standard Insurance Company after completing one year of service
Disability coverage pays 60% of the pre-disability salary with a minimum of $1,500 monthly and a maximum, of $6,000 monthly before offsets
Begins 1st of month following six consecutive months of total disability
Benefits continue to age 65. If disability occurs after age 60, the 5-year/age 70 provision of the basic plan applies
If you are a member of TIAA, TRS, NYCERS or BOERS Contributions to a TIAA GRA account equal to 10% of your pre-disability salary (Minimum of $100 monthly)
Revised 8/17/06 by The University Benefits Office 61
TERM LIFE INSURANCE(must purchase)
Provided through the New York State United Teachers (NYSUT) Trust term life insurance plan
Effective 9/1/05, new Full-time employees receive free for one year a $25,000 term life insurance policy with option to renew after one year. Option not available to prior NYSUT members
Spouses/domestic partners and eligible children may be covered
Employees under age 65 may apply for additional coverage up to $1,000,000. Physical exam may be required
Policy is portable
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LONG TERM CARE INSURANCE PROGRAMS
Provides benefits when you are unable to care for yourself because of chronic illness, severe physical impairment, or disease that lasts a long time. Dependents can also be covered
Eligibility - Full-time member or a retired member of the Instructional Staff
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LONG TERM CARE INSURANCE PROGRAMS
cont..
MetLife – Offered by the City of New York - payroll deduction
John Hancock Mutual Life Insurance – Offered by the PSC-CUNY Welfare Fund - payroll deduction
New York State United Teachers’ Long Term Care Program – Offered by the PSC-CUNY Welfare Fund - payroll deduction
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PICA
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WHAT IS PICA?
PICA is a prescription drug program made available through the joint effort of the City of New York Office of Labor Relations and the Municipal Labor Committee
PICA covers all employees, non-medicare retirees and their dependents enrolled in a health plan offered by the City Health Benefits Program
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PICA PROGRAM
PICA covers medication in two specific drug categories:
Injectable - most medications normally administered by injections (not in the doctor’s office
Chemotherapy - medications used to treat cancer
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PICA DRUG COST
The co-pay for the PICA drugs bought at the: Retail Pharmacy (up to a 30 day supply) are:
$10 for generic medications$25 for preferred brand name (formulary) medications$45 for non-preferred brand name (non-formulary) medications
Mail Order Pharmacy (up to a 90 day supply) required after second re fill$20 for generic medications$50 for preferred brand name (formulary) medications$90 for non-preferred brand name (non-formulary) medications
Effective January 1, 2006, $100 per person annual deductible
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PICA
In general, PICA drugs are not covered by a health plan’s optional prescription drug rider or the welfare fund. Use your prescription drug card for medication not covered by PICA
To access PICA benefits you must use
your prescription drug card issued by NPA, a Division of Express Scripts
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FLEXIBLE SPENDING ACCOUNTS PROGRAM
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FLEXIBLE SPENDING ACCOUNTS
What are the Flexible Spending Accounts Programs?
Pays for necessary out-of-pocket medical expenses not covered by insurance
Pre-tax dollars: from $260 to a maximum of $5,000
Use it or Lose it by calendar year end Reduces your gross income for Federal,
Social Security and Medicare tax purposes
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FLEXIBLE SPENDING ACCOUNTS
Types of Flexible Spending Accounts
Health Care Flexible Spending Account: helps to pay for unreimbursed out-of-pocket medical expenses while reducing your taxable income. $48 yearly administrative fee taken out monthly
Dependent Care Assistance Program (DeCap): helps to pay for expenses to care for your child or other eligible dependents (while you and your spouse work) while reducing your taxable income. $48 yearly administrative fee taken out monthly
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FLEXIBLE SPENDING ACCOUNTS
Types of Flexible Spending Accounts cont…
Medical Spending Conversion (MSC) Premium Conversion program (automatic): pays for health premium deduction on a before tax basis, thereby reducing the gross income tax
Medical Spending Conversion (MSC) - Health Benefits Buy-out Waiver program: enables eligible employees who have non-city group health benefits to waive city health benefits in return for an annual cash incentive ($500 for individual and $1,000 for family coverage) post-tax payment. Must provide proof of coverage under another group health plan. No person can be covered by two City heath contracts at the same time.
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FLEXIBLE SPENDING ACCOUNTS
Qualifying Events (QE)
Changes in family status or employment are considered triggering events which allow you to make certain changes to your health benefits. Examples of qualifying events are:
Mid-year changes due to change in family status, marriage, birth of child
Change in employment status Attainment of the maximum age for coverage of a
dependent child Significant change in spouse’s coverage which is outside
of spouse’s control 30 days to submit documentation and will go retroactive
to date of the event
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LEAVES…..
The University provides holidays, unscheduled holidays and a variety of other leaves such as vacation, leave for child care, fellowship leave, etc. Please contact your Human Resources office for further details.
Updated 1/15/08 by
The University Benefits Office 75
FAMILY AND MEDICAL LEAVE ACT (FMLA)
Family and Medical Leave Act (FMLA) entitles eligible employees with up to 12 weeks of unpaid, job protected leave for qualifying reasons during the designated leave year, September 1st through August 31st. Employee must have worked for 12 months & 1,250 hours
Employees pay their share of the premiums through direct pay. The employer share is paid by CUNY
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JURY DUTY
Employees who are required to serve on a jury receive their regular salary during any absences provided that they remit to the University an amount equal to the compensation received by them, if any, for jury duty
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SLOAC
Special Leave of Absence Coverage (SLOAC) provides up to four months of additional health coverage if you have exhausted all accumulated leave balances including sick leave, annual leave and compensatory time. For employees own illness
Employees pay their share of the premiums through direct pay. The employer share is paid by CUNY
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TEMPORARY DISABILITY (Sick Leave)
Each year you earn 20 calendar days of temporary disability leave
The unused portions of temporary disability leave can be accumulated to a maximum of one hundred and sixty (160) calendar days
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MILITARY LEAVE
New York State Military Law Section 242 provides for paid military leave for 30 calendar days or 22 work days, which ever is greater, in any calendar year or in any continuous leave of absence which spans more than one calendar year. You may be also be eligible for Supplemental Military Leave and Reduced Pay.
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OTHER BENEFITS
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COBRA
Employees, retirees and family members are offered the opportunity to continue group health and/or welfare fund coverage in certain instances where coverage would otherwise terminate
Monthly premium is 102% of group rate Maximum period of coverage is 18, 29,
or 36 months depending on the reason for continuation
Updated 3/5/09 by The University Benefits Office 82
COLLEGE SAVINGS PLAN (529)
College Savings tax deductible Plan presently administered through Upromise Investments Inc. Parents, grandparents, relatives or friends can set up a tuition savings account for a future college student through payroll deductions. This program allows you to save for higher education expenses. New York State tax payers can save $5,000 per year per person; married couples filing jointly can save $10,000. There is a management fee of 0.55% of your accounts.
Contact 1 877 NYSAVES
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CUNY eMALL
Visit the CUNY eMall for a variety of discounts and offering of products and services for CUNY employees and students. To access the web site you must first obtain a CUNY portal id by logging on to www.cuny.edu, then log on to www.portal.cuny.edu, then click on the CUNY eMall
Updated 1/31/07 by
The University Benefits Office 84
FEDERAL CREDIT UNIONS
Employees are eligible to participate in the Education Affiliates Federal Credit Union & the Municipal Federal Credit Union. Services include share savings plans, individual retirement accounts (IRA) and term share certificates with various maturities, loans, credit cards
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HIPPA
Certificate of Group health plan coverage issued to employee upon termination to certify coverage that will be credited against any pre-existing exclusion period under a new health plan
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SAVINGS BONDS
U.S. Savings Bonds are a safe easy way to save money and a way to increase your retirement investment portfolio through payroll deductions.
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TRANSITBENEFIT
TransitBenefit Transportation Spending Account (TSA) is a voluntary benefit for eligible employees interested in saving on their New York City Transit subway and bus costs. Depending on your particular tax situation and your NYCT commuting expenses, you could save more than $200 annually if you commute by subway or local bus, more than $300 if you commute by express bus. For more details please visit www.cuny.edu/transitbenefit
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A voluntary, free and confidential benefit for active employees and their families. The program is administered by Corporate Counseling Associates, Inc. (CCA). Services offered under the program include: 1) traditional counseling for stress; 2) family issues or substance abuse; 3) access to legal and financial assistance; 4) referrals for child care; and 5) elder care. For more details visit www.cuny.edu/worklife
CUNY WORKLIFE PROGRAM
Updated 1/15/08 by
The University Benefits Office 89
TUITION WAIVERS
Tuition may be waived for undergraduate and graduate courses at any college of the City University on a space available no cost basis (online baccalaureate courses are available through the School of Professional Studies at the Graduate School and University Center).
No waivers are available in the summer or winter sessions.
The number of undergraduate credits for which tuition may be waived is unlimited. You must be on staff for one year.
The number of graduate credits for which tuition may be waived per semester is six. There is no service requirement for the graduate tuition waiver.
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WORKERS’ COMPENSATION
You are covered for workers’ compensation benefits if you suffer a job-related injury or illness
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RETIREMENT
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TRAVIA (Paid Sick Leave Upon Retirement)
Members of a public retirement system (TRS, ERS or BOERS) must meet the eligibility requirements for a service retirement and must declare their bonafide intention to retire, file an application for retirement with their retirement system
ORP members are eligible for Travia if they declare their bonafide intention to retire, file an application for retirement with TIAA/CREF and are:Tier 1 - age 55 or possess 20 years of service; Tier 2 - age 55 or possess 20 years of service; Tier 3/4 - age 55 and possess 5 years of service
Retirees are granted a retirement leave of absence with full pay consisting of a maximum of five (5) months of pay if they have accrued 160 days. Those who have fewer than 160 sick days will receive one-half of their accumulated unused sick days
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ELIGIBILITY FOR RETIREE HEALTH BENEFITS
ERS/TRS members who retire with immediate payability are eligible for benefits
Tier 1 ERS members who retire with deferred payability can retain benefits for 5 years while in such status. If the deferment lasts longer than 5 years, benefits will be suspended until the retiree begins receiving retirement income from ERS
TRS members who retire with deferred payability retain the right to retiree health coverage upon receiving retirement income from TRS
Retirees pay their share of the premiums through pension deductions. The employer share is paid by CUNY
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ELIGIBILITY FOR RETIREE HEALTH BENEFITS cont…
TIAA-CREF members:
Instructional Staff members initially appointed to a full-timeposition:
a. On or before June 30, 1976:
1.Separated at age 55 or over, with at least 10 years of pensionable, continuous, full-time CUNY service, or
2.Separated prior to 55, with at least 15 years of pensionable, continuous full-time CUNY
service and attained the age of 55.
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ELIGIBILITY FOR RETIREE HEALTH BENEFITS cont…
b. Appointed between July 1, 1976 and August 31, 1985:
Separated with at least 15 years of pensionable, continuous, full-time CUNY service and attained the age of 62, or
Separated with at least 10 years of pensionable, continuous, full-time CUNY service, and no subsequent full-time employment in a college, university, or other institution of post-secondary education related to the duties performed while in active service in CUNY or to duties normally performed by the Instructional Staff at CUNY and attained the age of 62.
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c. Appointed on or after September 1, 1985:
Separated at age 62 or over with 15 years of pensionable, continuous, full-time CUNY service, or
Separated prior to age 62, with 15 years of pensionable, continuous, full-time CUNY service and no subsequent full-time employment in a college, university, or other institution of post secondary education related to the duties performed while in active service in CUNY or to duties normally performed by the Instructional Staff at CUNY and attained the age of 62.
ELIGIBILITY FOR RETIREE HEALTH BENEFITS cont…
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CHECK LIST OF FORMS TO BE RETURNED
Pension Applications Retirement Program Election PSC-CUNY Welfare Fund Data Health Benefits Application (ERB) Flexible Spending Account Buy-Out-Waiver Death Benefit Beneficiary Designation Card
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MAKING A DECISION…
Your responsibility is to determine which plans are best for you and your family. The College may not make health benefits or pension elections on your behalf. Take the time to review your options carefully. It is important for you to play an active role in understanding your benefits and how they work. We encourage you to weigh all factors before making a decision.