Benefits

BENEFITS SUMMARY - SECURITY OFFICERS

HEALTH INSURANCE

• Health insurance: MVP HMO
• Vassar pays 95% of the cost for single or family coverage. The percentage you pay for family coverage will increase in 2008.

RETIREMENT BENEFITS

• After five years of service, you become vested in Vassar's defined benefit pension plan, which provides monthly payments beginning at age 65.
• You may also open a Supplemental Retirement Account (SRA) which allows you save for retirement and choose your own investment portfolio in a personal account with TIAA-CREF and/or Fidelity Investments. Contributions to the SRA are deducted from your paycheck and are tax-deferred.

PAID TIME OFF

• After the six-month probationary period through the end of your first year of service, you receive five vacation days. From the second through fifth year of service, vacation increases to ten days. From your fifth thourgh tenth year, vacation allowance is 15 days. Further increases occur with further service.
• 17 paid holidays
• Paid Sick Time: sick time accrues at four hours per 104 hours worked, and you can accumulate up to 750 hours as a reserve against extended illness.

TUITION BENEFITS

• 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.
• Tuition reimbursement is available, subject to departmental approval, for courses you take at other accredited institutions. These courses must be directly related to your work in your current position.

SHORT TERM DISABILITY INSURANCE

• In accordance with New York State law, Vassar provides disability coverage equivalent to 50% of your salary up to a weekly maximum of $170. This insurance provides a weekly income after five days of disability.

LIFE INSURANCE

• Vassar provides $15,000 of term 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.

DENTAL INSURANCE

• Vassar sponsors a voluntary (employee-paid) dental insurance plan. You are eligible to join within 30 days of your hire. 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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