Benefits
The
creativity and commitment of our staff and faculty translate into
Wellesley’s success. We value this important contribution and
provide excellent benefits as one way we recognize your significant
role in this success.
Faculty
For further details on benefits, please refer to the relevant Summary Plan Description or contact Human Resources-Benefits for additional information.
July 2008 Faculty Summary of Benefits
Faculty Mortgage Program
Administrative
For more detailed information regarding benefits for administrative staff, please refer to the relevant Summary Plan Description and/or consult the Administrative Handbook.
July 2008 Administrative Staff Summary of Benefits
Union
Benefits for Union employees are covered by their collective bargaining argeements.
July 2008 Union Summary of Benefits
Information on benefits is also provided in issues of the HR Illuminator, which appear on the HR website at www.wellesley.edu/HR under “What’s New?”
Disclaimer: Benefits eligibility is dependent on employment status. Wellesley College reserves the right to amend, modify, or terminate any plan or provision at any time.
Health and Dental Insurance
Health Insurance: (Harvard Pilgrim Health Care)
Harvard Pilgrim HMO
The Harvard Pilgrim HMO offers a variety of choices for each family member. The Harvard Pilgrim Network includes over 22,000 independent primary and specialty care physician providers in the traditional private office settings and medical group practices, as well as the Harvard Vanguard Medical Associates locations which offer most services at a single location. (These centers were formerly known as Harvard Community Health Plan’s center-based model for health care.) With the HMO, each family member can choose the method of care that provides the best arrangement for that individual.
Harvard Pilgrim PPO
The Harvard Pilgrim PPO is a Preferred Provider Network Program. The Plan provides incentives for you to work with a physician within the network (the same as the Harvard Pilgrim HMO) but also provides for care outside the network, subject to deductibles and co-payments. Because of the freedom of choice offered by this plan, the premium is significantly higher.
Harvard Pilgrim Best Buy PPO
The Harvard Pilgrim Best Buy PPO is a Preferred Provider Network Plan but with a more affordable premium than the regular PPO due to one of its cost-sharing features: a deductible ($2,000 per member and $4,000 per family) that applies to certain in-network and all out-of-network services and additional co-payments until you reach an Annual Out-of –Pocket maximum of $5,000 per member and $10,000 per Family.
Health and Dental Insurance Rate Sheet
Dental Insurance: Delta Dental Plan (For Delta Premier)
Delta Premier
Delta Premier is a traditional dental plan with a maximum benefit level of $2,000 per year per family member enrolled with no deductibles for cleanings when using Delta Premier providers. (There are deductibles and co-payments for other services.)
DeltaCare
DeltaCare is a dental maintenance organization or “DMO” that provides comprehensive dental care at a significantly lower cost than the more traditional plans. It is unique in its emphasis on preventive care. Because you use a DeltaCare provider, there are no deductibles and no annual maximums (except for oral surgery, endodontic and periodontal services, for which there is a $1,000 per person annual calendar year maximum effective 1/1/2003). Out-of-pocket costs are completely predictable because they are based on a fixed co-payment schedule.
It is important to note that the DeltaCare network is a limited one made up of approximately 500 primary care dentists and specialists, whereas approximately 97% of the dentists in Massachusetts are Delta Premier providers. However, the DeltaCare plan may suit your needs if your dentist happens to be a DeltaCare provider or if you are looking for a new dental care provider. For DeltaCare, please call member services at (617) 886-1446.
Health and Dental Insurance Rate Sheet
Life Insurance
All regular full-time employees are eligible for the group term life insurance coverage. Enrollment occurs on the first of the month coincident with or next following your employment date. The College provides to all eligible employees noncontributory life insurance equal to 100% of their annual salary rounded to the next highest $1,000. In addition to non-contributory coverage, you may elect to participate in the contributory portion of this plan through payroll deductions.
Time Off Benefits for Administrative Staff *
Vacation Leave - See the Administrative Handbook for full information on vacation accruals and usage, as well as vacation time for academic year employees. (The accumulation schedule is prorated for employees working less than full-time, 12 months.) Vacation time may be used after six months of employment.
Sick Leave - Employees accumulate 1 day per month of sick leave to a maximum of 130 days. The accumulation schedule is prorated for employees working less than full-time, 12 months. Sick leave can be used after 90 days of employment.
Personal Days - Employees working full-time, 12 months accumulate 3 days per fiscal year. Academic year employees accumulate 2 personal days per fiscal year. (See Administrative Handbook for full information, including prorated personal days for employees working less than full-time.)
Holidays - Employees working full-time 12 months are entitled to 11 holidays. Academic year employees are entitled to 10 holidays. (See Administrative Handbook for full information, including prorated holidays for employees working less than full-time.)
* Time off benefits for Union Employees are detailed in their collective bargaining agreements.
Short-Term Disability
Administrative Staff
Administrative employees whose regular work schedule is at least half-time for at least nine months per year are eligible for short-term disability benefits after completion of one year of service. Short-term disability pays 50% of your regular wages, calculated on an hourly basis, for a maximum of 26 weeks for any single period of disability, or in any 52-week period. Before being eligible to receive short term disability pay, all accumulated sick leave must be exhausted and medical certification of the disability must be provided.
Union
After one year of continuous full-time employment, disabled employees who have exhausted all accumulated sick leave are eligible to apply for STD for a total of 26 weeks. See relevant collective bargaining agreement.
Long-Term Disability
Faculty and Administrative Staff
Full-time benefits-eligible employees are eligible after 6 months of employment. The College pays for this coverage and enrollment is automatic. A waiver of the enrollment waiting period may be obtained.
Union
After Short-Term Disability is exhausted and if still disabled on the 181st day, eligible full-time employees may be eligible to receive Long Term Disability benefits which provides a monthly benefit equal to 60% of the employee’s straight-time basic earnings. See relevant collective bargaining agreement.
Worker’s Compensation
All employees are covered by Workers’ Compensation Insurance (College paid) which covers medical costs and loss of wages if an injury is incurred while the staff member is at work at Wellesley College or away from the office on College business.
Flexible Spending Accounts
Flexible Spending Accounts (Crosby Benefit Systems)
Employees working half-time or more may enroll in either or both of these flexible spending accounts by completion of a reduction agreement. These accounts provide a Federal, State and FICA tax shelter for funds used for either dependent care expenses or health related expenses not covered by health /dental insurance.
Dependent Care Reimbursement Account
This account allows you to set aside up to $5,000 of your pre-tax earnings to pay for qualified dependent care expenses.
Medical Reimbursement Account
This account allows you to set aside up to $5,000 per year on a pre-tax basis to pay for out-of-pocket health, dental or vision care costs.
Employee Assistance
Employee Assistance Program (The Wellness Corp)
The EAP provides confidential assessment and referral services and short-term counseling to help you and your household members work through life’s challenges.
To utilize this benefit, contact the Wellness Corporation at 1-800-828-6025. Regular office hours are Monday-Thursday 8:30 a.m.– 6:00 p.m. and Friday 8:30 a.m. -5:00 p.m. If the matter seems urgent to you, call anytime. A caring professional counselor is available to speak with you 24 hours a day, including weekends and holidays.
Retirement
TIAA-CREF Defined Contribution Retirement Plan for Administrative Staff and Faculty (TIAA-CREF)
Employees working 17.5 hours per week or more are eligible to participate in the College’s retirement plan effective the first day of the month following their date of hire as long as the employee completes a TIAA-CREF Retirement Annuity Contracts Enrollment Form. The College contribution is 9% on compensation up to one-half of the SSWB ($51,000 in 2008) plus 12% on compensation above one-half of the SSWB. The College also offers a match component, as described below. To qualify for the additional match component, new employees must open a Tax-Deferred Annuity (TDA) with TIAA-CREF, Fidelity or Calvert and complete a Salary Reduction Form. The match will occur in even increments up to 1% as follows:
Employee Voluntary Contribution College Match
1% 1/3 of 1%
2% 2/3 of 1%
3% 1 %
Plan Contributions:
College payments to your retirement plan begin the month after you have submitted a completed application form to the Benefits Office. Plan contributions are made on a monthly basis, except for months in which no salary is paid. The College does not require employee contributions to the retirement plan.
Vesting:
Once eligible, you will become fully vested in TIAA-CREF the first month after you submit the completed application forms. Full vesting means that the contributions by the College to TIAA-CREF are fully owned by you as soon as the contracts are issued.
Tax Deferred Annuity:
Under the IRS Code 403 (b)(7), you are permitted to set aside tax-deferred supplemental retirement funds in addition to the amounts being contributed by the College to the TIAA-CREF regular retirement plan. Currently, the College has Tax Deferred Annuity (TDA) arrangements with Calvert, Fidelity, and TIAA-CREF SRA. Employees may request a copy of the plan brochures from the Human Resources Office.
All benefits-eligible employees are eligible to participate in these plans. You may begin, change or discontinue contributions at any time after you have completed the appropriate application forms and/or a Salary Reduction Agreement.
You may choose to participate in more than one TDA. Contributions to a TDA are made entirely by you; there is no College contribution. Any contributions you make are tax-deferred for purposes of federal income tax and beginning in 1998, state taxes also; you will still pay FICA taxes on these funds. You will pay income tax on these funds at the time of withdrawal. Funds withdrawn before you are age 59 1/2 are subject to severe tax penalties.
The minimum contribution is $25.00 per month. The maximum allowable amount may change each calendar year; if you wish to know the maximum amount you may contribute, you may call TIAA-CREF (1-800-842-2733, ext.2929) and ask for a calculation. You may use this service even if your TDA funds are in Calvert or Fidelity. You may change your monthly reduction more than once each calendar year, as long as you do not exceed your maximum allowable amount.
Wellesley College Pension Plan
The Wellesley College Pension Plan for Classified Office and Service Employees was established by Wellesley College for its benefits-eligible union-represented employees to help in meeting their retirement income needs. The Plan is a defined benefit plan, which means the benefits are determined using a formula. Employees are vested after 5 years of service. (See the Summary Plan Description for further information on the plan and its provisions.)
Tuition
Tuition Remission for Full-Time Undergraduate Study
Tuition Remission is a program that provides tuition benefits at Wellesley College to daughters/wives of eligible employees. The candidate(s) must be selected through the College's normal Board of Admission process and maintain diploma grade standing.
Tuition Remission for Continuing Education/Davis Scholar Program
Tuition remission for individual undergraduate courses taken for credit at Wellesley College is possible for an eligible employee and the spouse, son or daughter of the employee, provided the candidate is selected by the Board of Admission as a Degree Candidate, a Post-Baccalaureate Student, or a Visiting Student. The son or daughter must be a dependent of the employee for income tax purposes.
To be eligible for participation in the Continuing Education Program, the employee must have completed one year of full-time continuous employment at Wellesley College and be continuing in this full-time capacity. Employees who work less than full-time may participate, but the tuition will be prorated. Spouses, sons, and daughters of employees working less than full-time are not eligible for tuition exemption.
There is a limit of one course per semester for employees. In unusual cases, an employee may petition their supervisor to take two courses with an explanation as to how the employee can make up the time and work missed. There is a limit of eight (8) courses for dependents of eligible employees. Employees who wish to participate in a Post baccalaureate Program are also limited to eight courses.
Auditing Courses
Half-time or more employees, their spouses and IRS dependent children may each audit one course per semester at Wellesley College without charge, provided space is available.
Tuition Reimbursement
The Tuition Reimbursement program provides tuition benefits to eligible administrative employees taking courses at institutions other than Wellesley College.
Employees who work at least half-time for at least nine months per year are eligible for tuition reimbursement, in accordance with this policy, after completion of one year of continuous employment.
Eligible full-time, full-year employees can be reimbursed for tuition for academic courses taken at an accredited institution. The maximum reimbursement in any fiscal year (July 1 to June 30) will be the actual tuition paid or the cost of one Wellesley College course, whichever is less. If you work less than 35 hours a week, 52 weeks a year, the benefit will be prorated based on your budgeted Full Time Equivalence (FTE). For more detailed description of tuition benefits, please see the Administrative Handbook.
Tuition Assistance Plan(s) for Union Employees- Eligible full-time Union employees who have completed one year of full-time may receive tuition assistance for one course per semester at an accredited school, technical institute, or college which is eligible under Federally insured student loan programs. The course must be determined by the College to be related to any bargaining unit job (including English as a Second Language or literacy courses, as appropriate), must be taken for credit and must be approved by the College in advancement of enrollment. (A complete description of the plan may be found in the relevant collective bargaining agreement.) |
