Life Insurance
Basic life
insurance coverage in the amount of $25,000 is completely paid for by
Georgia Gwinnett College. Optional supplemental life insurance equal to
your salary multiplied by up to 10 times may be chosen. Dependent Life
Insurance is available equal to $10,000 for your spouse and each child
between the ages of six months and 19 years, or between the ages of 19
and 26 years if they are unmarried, full-time students. Children at
least two weeks old but less than six months old may be insured for
$2,000.
Health Insurance
Eight
health plans are available for election. The Preferred Provider
Organization (PPO), PPO Consumer Choice, Board of Regents Indemnity
Plan, High Deductible Health Plan (HDHP), Kaiser Permanente, Kaiser
Permanente Consumer Choice, Blue Choice HMO and the Blue Choice HMO
Consumer Choice. The employer pays 75% of the premium and the employee
pays 25% for health insurance under the group plan approved for Georgia
Gwinnett College.
Those
with PPO Health coverage: 1st Medical Network has terminated its
contract with Laboratory Corporation of America (LabCorp) effective
September 1, 2007 but for BOR patients, coverage is effective through
October 31, 2007. In order to keep your out-of-pocket expenses to a
minimum, it is recommended that you always ask to be referred to
in-network facilities for all lab testing. To search for participating
ancillary providers, click on www.healthyGeorgia.com.
Direct link to all Health Care Providers:
http://www.usg.edu/hr/benefits/health_insurance/
Vision
We are offering a vision plan which offers a comprehensive vision exam
once every 12 months and materials copay of $25.00, which applies to
the entire purchase of eyeglasses or contacts in lieu of eyeglasses.
Visit the UnitedHealth Care Vision website for more information.
Retirement
http://www.usg.edu/hr/benefits/retirement_plan_information/
All
persons hired after June 30, 2008, who are also exempt from FLSA (Fair
Labor Standards Act) will have the opportunity to elect to participate
in the BOR Optional Retirement Plan or TRS. Employees and potential
employees who are not sure of their FLSA status should contact Human
Resources for clarification.
Teachers Retirement System (TRS)
- This is a state plan that requires a 5.25% base salary employee
contribution. The employer contributes 9.74% to support the retirement
plan. Ten years of creditable service are required in order to be
vested.
Link: http://www.trsga.com/
Optional Retirement Plan (ORP)
- This option is currently available to all faculty and directors
only. However, all persons hired after June 30, 2008, who are also
exempt from FLSA, will have the opportunity to elect to participate in
the BOR Optional Retirement Plan. This is a portable plan that requires
a 5% base salary employee contribution; employer contributes 8.15% to
the (ORP) vendor who then invests these funds on behalf of the
employee. The employee is vested immediately in the ORP plan. The
ORP vendors are:
Deferred
compensation (457) plans are non-qualified, tax deferred compensation
plans for employees of non-profit organizations such as colleges and
public schools. An eligible employee may reduce his/her salary and put
part of his/her income into a retirement account on a pre-tax basis.
The payment of taxes on the money put into the account will be deferred
until the money is withdrawn, usually age 59 1/2 or later.
Since
more money is invested than would be if the money were taxed, the money
grows at a faster rate. Because an employee's tax bracket may be lower
after retirement the money withdrawn from the account may be taxed at a
lower rate.
Deferred compensation plans may be
purchased from insurance and investment companies. Investment options
vary. Insurance companies offer annuities. Other companies offer
mutual funds, stock funds, bond funds etc. The best way to find out
which investment option is best for you is to contact the insurance or
investment company and talk to an agent or read the company's
literature. The purchase of deferred compensation plans is limited to
those sold by the companies on Georgia Gwinnett College's list of
approved vendors.
You must
be careful not to put excess contributions into a deferred compensation
plan as there are severe penalties for doing so. You may consult with
your deferred compensation company for assistance in determining the
maximum amount you may contribute.
Employees may contribute the maximum amount to both 457 and 403b plans
as long as that amount does not exceed the employee's earnings.
Approved deferred compensation plan vendors are:
- AIG Retirement
- Fidelity
- TIAA-CREF
- Travelers/MetLife
ALL BENEFIT-ELIGIBLE GGC EMPLOYEES MAY PURCHASE DEFERRED COMPENSATION PLANS THROUGH PAYROLL DEDUCTION.
Tax
sheltered annuity (403b) plans are federal approved retirement plans
for employees of non-profit organizations such as colleges and public
schools. An eligible employee may reduce his/her salary and put part of
his/her income into a retirement account on a pre-tax basis. The
payment of taxes on the money put into the account will be deferred
until the money is withdrawn, usually age 59 1/2 or later.
Approved tax sheltered annuity plan vendors are AIG Retirement, TIAA-CREF and Fidelity Investments.
ALL BENEFIT-ELIGIBLE GGC EMPLOYEES MAY PURCHASE TAX SHELTERED ANNUITIES THROUGH PAYROLL DEDUCTION.
Social Security
All
employees with benefits are required to contribute to Social Security.
The Social Security taxes withheld from an individual's pay is
reflected in two deductions: 6.20% for the old age, survivors, and
disability insurance tax, and 1.45% for the Medicare tax.
Dental Insurance
Board of Regents
Under the Board of Regents Dental Plan you may select the dentist of
your choice. The plan pays 100% of the Usual Customary and Reasonable
(UCR) charges for preventive dental services after a $50 annual
deductible has been met, 80% of allowable covered charges will be
covered up to a maximum allowable benefit of $1,000 per individual per
calendar year. Enrollment in this plan is allowed only during the first
30 days of employment.
For more information: http://www.usg.edu/hr/benefits/dental_insurance/
Short Term Disability Insurance (Optional)
Coverage
begins from the first day of an accident or hospitalization or eighth
day of disability due to sickness and continues during the disability
for not more than 22 weeks. The weekly income benefit is 60% of the
base salary at the time the employee becomes disabled. Visit the Hartford website for more information.
Long Term Disability Insurance (Optional)
An
employee must be totally disabled for a period of 5 months in order to
be eligible for benefits. The monthly income benefit is 60% of the base
salary at the time the employee becomes disabled. Visit the Hartford website for more information.
Dependent Care Spending Plan
Under
this plan, the employee is able to be reimbursed for dependent care
expenses-such as child care and day care fees-with before tax dollars.
The total amount of money the employee may contribute is limited to
$5,000 per year. Both the employee and his/her spouse must be gainfully
employed unless the spouse is a full-time student or physically or
mentally unable to care for him/herself. Both the employee and his/her
spouse must work except under special circumstances. Care must be
provided in a licensed/registered facility.
Health Care Spending Plan
This
plan allows the employee to use pre-tax salary dollars for health care
expenses. Under this plan, the employee makes a contribution to a
spending account each pay period. Reimbursement is made to the employee
when a claim with appropriate documentation is submitted for an
eligible health care expense not covered by insurance. Limit is $5,000.
Direct Deposit
An
employee may elect to have his/her net pay automatically deposited into
his/her account on payday. This is available with any bank that
participates with the Federal Automated Clearing House.
Gwinnett Federal Credit Union Membership
Employees and their families are eligible for membership at Gwinnett
Federal Credit Union. There are seven full service locations with a
wide range of low cost banking services including a new employee
“survival loan”, free checking, free online banking, free bill payment
(with checking + eStatements) and a free BALANCE Financial Fitness
counseling program. Members are saving $1,000 on average when using
Gwinnett Federal’s affiliated MEMBERS AutoChoice one-stop vehicle
buying service or their first mortgage company CUFS. To get started or
add services go to www.gwinnettfcu.org.
Worker's Compensation
All
employees are covered by the provisions of the Georgia Workers'
Compensation Act. This act provides payment for medical and hospital
expenses, as well as disability compensation in the event, an employee
is injured while performing job duties. It is imperative that proper
reporting occurs as Workers' Compensation claims cannot be paid under
any other insurance, including disability insurance. Because of this,
in order to be properly covered, notify your supervisor immediately
upon incurring a work-related injury.
Tuition Assistance Program (TAP)
TAP is an employee supplemental educational assistance program. The
tuition assistance program is available to full time benefits-eligible
employees of the USG who have successfully completed at least six (6)
months of employment in a benefits-eligible position, as of the date of the TAP application deadline for the desired academic semester. For more information: http://www.usg.edu/hr/benefits/tuition_assistance_program_tap/
Employee Self-Service
Employee
Self Service is your personal guide to your personal information. Self
Service allows you to manage your personal information without the need
for emails and phone calls to Human Resources payroll. For more information: https://ggc.gafirst.usg.edu/psp/ggc/HREAPPS/HRSS/?cmd=login
Relocation Expenses
Georgia Gwinnett College has adopted a Relocation Policy for new regular (benefit-eligible) full-time employees who are faculty or who hold a title of at least Director. Relocation expenses are not automatic and must be recommended by the appropriate Vice President with written approval from the President. Relocation expense amounts must be stated in the offer letter to qualify. The employee is responsible for all taxes on the expense. For more specific information, please refer to the Georgia Gwinnett College Administrative Manual.
Additional Discounts
There
are a number of discounts for entertainment and sporting events, as
well as discounts for services available on the Team Georgia Connection
website. As employees of Georgia Gwinnett College, you are eligible to
take advantage of this service. If you have not already setup your
userid and password on the Team Georgia website, take a few minutes to
do so and check out the Employee Discounts available under Benefits
today. For more information: www.team.georgia.gov
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