Office of Human Resources Management University Benefits

Office of Human Resources Management University Benefits
The City University of New York Benefits Orientation -Full Time Instructional Staff- Office of Human Resources Management University Benefits

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 Updated 1/15/08 by The University Benefits Office

The University Benefits Office
PENSION PLANS Prepared 9/19/05 by The University Benefits Office

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) 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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

TEACHERS’ RETIREMENT SYSTEM OF THE CITY OF NEW YORK
Prepared 9/19/05 by The University Benefits Office

TRS Who Can Participate?
full-time or a part-time Instructional Staff or pre-existing TRS members Prepared 9/19/05 by The University Benefits Office

TRS How do I Enroll? To enroll in TRS, you must obtain from your Human Resources/Personnel Office and complete 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 Prepared 9/19/05 by The University Benefits Office

TRS When 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. Prepared 9/19/05 by The University Benefits Office

TRS Tier 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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 credit exceeding 30 years Prepared 9/19/05 by The University Benefits Office

OPTIONAL RETIREMENT PROGRAM (ORP)
Currently TIAA-CREF Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

TIAA-CREF How do I Enroll?
To enroll in TIAA-CREF you must obtain from your Human Resources/Personnel Office: The TIAA-CREF Retirement Annuity Application The Retirement Program Election Form you must list beneficiaries Prepared 9/19/05 by The University Benefits Office

TIAA-CREF Vesting 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 Prepared 9/19/05 by The University Benefits Office

TIAA-CREF Impact 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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

TIAA-CREF Important Facts Cont…
Changes to Employer and Employee Contribution Rates Tier V If you have more than ten (10) years of ORP membership You 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. Updated 03/05/09 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

DEFERRED COMPENSATION PLAN
TAX DEFERRED ANNUITY (TDA) & DEFERRED COMPENSATION PLAN TDA or Supplemental Retirement Annuity 403(b) & New York State Deferred Compensation Plan 457 (b) Updated 1/15/08 by The University Benefits Office

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 Updated 1/15/08 by The University Benefits Office

TAX DEFERRED ANNUITY Options
Teachers’ Retirement System of the City of New York (for current members only) TIAA-CREF Lincoln Life (represented by the Halliday Financial Group - HFG) Prepared 9/19/05 by The University Benefits Office

DEFERRED COMPENSATION PLAN Options
New York State Deferred Compensation Plan – 457(b) Updated 1/15/08 by The University Benefits Office

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 Updated 03/05/09 by The University Benefits Office

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 Updated 03/05/09 by The University Benefits Office

NYC HEALTH BENEFITS PROGRAM

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 Prepared 9/19/05 by The University Benefits Office

HEALTH BENEFITS How do I enroll?
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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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. Updated 3/5/09 by The University Benefits Office

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 retirees This additional income is subject to Federal, State, and local tax plus Social Security/ Medicare taxes Prepared 9/19/05 by The University Benefits Office

HEALTH BENEFITS Types 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 network Plans 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 Upated 1/15/08 by The University Benefits Office

HEALTH BENEFITS Types of Health Plans and Services Offered cont..
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 plan Plans 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 plan Plans presently offered: GHI-CBP/EBCBS Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

HEALTH BENEFITS Transfer Period
The Transfer Period is a time in which you can make changes to your health plan without having 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 Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

PSC-CUNY WELFARE FUND BENEFITS

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 Prepared 9/19/05 by The University Benefits Office

PSC-CUNY WELFARE FUND What Titles are Eligible for Benefits?
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 Instructional Staff Groups included: College Laboratory Technician series Higher Education Officer series Full-time faculty titles Continuing Education Teachers Updated 3/5/09 by The University Benefits Office

PSC-CUNY WELFARE FUND How 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 PSC-CUNY WELFARE FUND Updated 1/15/08 by The University Benefits Office

PSC-CUNY WELFARE FUND What 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 Prepared 9/19/05 by The University Benefits Office

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 Updated 3/5/09 by The University Benefits Office

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

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) Updated 3/5/09 by The University Benefits Office

DEATH BENEFIT If you die in active service, your designated beneficiary is entitled to a $2,500 death benefit Prepared 9/19/05 by The University Benefits Office

DENTAL PLAN DeltaCare USA Program No deductibles, premiums, claim forms, or annual limits Choose from HMO Network Out-of-pocket expenses vary depending on services Orthodontia coverage for children and adults Must enroll by completing a Delta Dental enrollment form Guardian Dental Guard Preferred No deductibles, premiums, or annual limits Choose participating or non-participating providers Orthodontia coverage for children Automatic enrollment unless you elect to participate in DeltaCare USA Updated 1/15/08 by The University Benefits Office

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 Updated 1/15/08 by The University Benefits Office

OPTICAL BENEFITS Benefits available once every 24 months General Vision Plan includes eye exam and prescription/glasses Other options at your expense Davis Vision Co-pay of $25 for contact lenses Direct reimbursement Plan Maximum reimbursement of $100 for prescription glasses purchased through a non-participating provider Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

HEARING AID BENEFIT Benefits available once every 36 months Direct reimbursement of $500 maximum The Speech & Hearing Center of Brooklyn College Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Updated 3/5/09 by The University Benefits Office

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 Updated 3/5/09 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

PSC-CUNY WELFARE FUND Contributory Plans
Contributory Plans are voluntary and require a contribution from you. These include: Catastrophe Major Medical Optional Long Term Disability Term Life Insurance (provided through NYSUT) Long Term Care Updated 1/31/07 by The University Benefits Office

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) Prepared 9/19/05 by The University Benefits Office

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) Updated 3/5/09 by The University Benefits Office

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 Revised 8/17/06 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Updated 1/15/08 by The University Benefits Office

PICA Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

FLEXIBLE SPENDING ACCOUNTS PROGRAM

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

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 Updated 1/15/08 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

OTHER BENEFITS Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 NYSAVES Updated 3/5/09 by The University Benefits Office

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 then log on to then click on the CUNY eMall Prepared 9/19/05 by The University Benefits Office

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 Updated 1/31/07 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

CUNY WORKLIFE PROGRAM 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 Created 3/5/09 by The University Benefits Office

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. Updated 1/15/08 by The University Benefits Office

WORKERS’ COMPENSATION
You are covered for workers’ compensation benefits if you suffer a job-related injury or illness Prepared 9/19/05 by The University Benefits Office

RETIREMENT Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

ELIGIBILITY FOR RETIREE HEALTH BENEFITS cont…
TIAA-CREF members: Instructional Staff members initially appointed to a full-time position: 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. Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

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 Prepared 9/19/05 by The University Benefits Office

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. Prepared 9/19/05 by The University Benefits Office

Office of Human Resources Management University Benefits

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Office of Human Resources Management University Benefits

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