Benefits

BENEFITS SUMMARY - FULL TIME FACULTY

HEALTH INSURANCE

• A choice of two health plans: Empire Blue Cross PPO or MVP HMO.
• Vassar pays 85% of the total cost of single coverage, and 60% of the cost of employee-plus-dependent(s) coverage. You pay the remainder through paycheck deduction.

RETIREMENT PLAN

• After one year of service, you become eligible for Vassar's Defined Contribution 403(b) retirement plan benefit.
• Vassar contributes to your retirement, based on your age as of July 1, as follows:
• ages 26 to 29 = 7% college contribution
• ages 30 to 39 = 11% college contribution
• ages 40+ = 14 % college contribution
• You are immediately vested in the college's contribution.
• In addition to the Vassar-paid benefit, you may open a Supplemental Retirement Account (SRA) which allows you to contribute to your retirement on a tax-deferred basis. You may use TIAA-CREF and/or Fidelity Investments for your SRA.

TUITION BENEFITS

(Available to faculty on full time tenure track appointments or on visiting appointments of 3 years or more.)

• You, your spouse/partner or dependent children may attend up to eight semesters at Vassar College tuition-free if accepted as a Vassar student.
• You or your spouse/partner may take Vassar courses tuition-free on a course by course basis with prior approval.
• Vassar provides tuition grants for dependent children up to age 23 attending other colleges: the grants cover the college's tuition, up to a maximum of 50% of Vassar's tuition.

LONG TERM DISABILITY INSURANCE

• Vassar provides disability coverage equivalent to 60% of your salary up to a monthly benefit maximum of $10,000. This insurance provides a monthly income after 6 months of total disability. Coverage begins after a year of employment, or the first day after your first full month of employment if you furnish proof of coverage from your previous employer.
• Upon hire, you may purchase additional disability insurance.

LIFE INSURANCE

• Vassar provides term life insurance coverage equal to your annual salary, but with a minimum value of $50,000 and maximum of $200,000. (Reductions apply for employees over 70 years of age.) Coverage begins after four months of employment, or the first day after your first full month of employment if you furnish proof of coverage from your previous employer.
• Upon hire, you may purchase additional life insurance.

FLEXIBLE SPENDING ACCOUNTS

• You are eligible to tax-shelter up to $10,000 annually in a medical/dental Flex spending account, and up to $5,000 annually in a dependent care Flex spending account.

LONG TERM CARE INSURANCE

• Vassar sponsors a group Long Term Care insurance plan. Contact the Benefits Office for information.

EMPLOYEE ASSISTANCE PROGRAM (EAP)

• Vassar's EAP provides you and your family access to free, confidential short-term counseling and assistance with work-life issues such as elder care and child care.

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