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Policy 2.5.3
Policy 2.5.3
Policy and Procedures Manual
Classification Number: 2.5.3
Reviewed: August 14, 2017
SUBJECT: FRINGE BENEFITS
Fringe benefits are provided to 51³Ô¹ÏÍøÊÓƵ Baptist University employees as described below:
All employees are provided worker's compensation insurance.
All employees, excluding student workers, are provided unemployment insurance and the employer's match of the employee's contribution for Social Security and Medicare.
All full-time employees, those who work a minimum of 37.50 hours per week (1950 per year) and whose employment authorization contains a full-time position designation, are provided the following benefits:
- Medical Insurance - Employee coverage is effective immediately with 51³Ô¹ÏÍøÊÓƵ providing a portion of the employee's premium. Family coverage is available for purchase by the employee.
- Dental Insurance - 51³Ô¹ÏÍøÊÓƵ provides a portion of the employee's dental premium. Family coverage is available for purchase by the employee.
- Life Insurance - Employee coverage is provided at two (2) times annual salary rounded up to the nearest $1,000. Additional coverage is available for purchase by the employee.
- Cancer and Intensive Care Insurance - Employee basic coverage is provided. Expanded and family coverage is available for purchase by the employee.
- Accidental Death Insurance - Employee is covered for $100,000.
- Long-term Disability Insurance - Employee coverage provides up to 60% of the monthly salary after 90 days of disability.
- Other Insurance - Additional insurance may be available for purchase by the employee. Information on types and premiums are available from the office of human resources.
- Retirement - 51³Ô¹ÏÍøÊÓƵ matches the employee contributions up to 6% of salary into the 403B plan.
- Paid Leave - Vacation (policy 2.5.1), Sick (policy 2.5.2) and Holiday/Birthday (policy 2.5.4) leave are covered in the respective policies.
- Faculty/Staff Scholarship - For information related to employee scholarships, see policy 2.3.2, Employees Registering as Students. For information related to scholarships for spouses and dependent children ("dependent" is defined as a child who meets the FAFSA definitions), see policy 2.3.3, Employees, Spouse and Dependents Registering as Students.
- Library privileges - Faculty are allowed to check out books for a full term and may be renewed unless called for by a student. Staff are allowed to check out books for a three week period and may be renewed unless called for by a student. Employee library privileges include a waiver of overdue fines.
- University Store - Employees receive a discount of 20% on all merchandise (excluding sale merchandise) and used textbooks. Employees receive a discount of 10% on new textbooks.
- Admission to University Events - Employees receive free entrance to all 51³Ô¹ÏÍøÊÓƵ athletic games and cultural events. Exclusions include NAIA tournament play or events that are otherwise publicized.
Full-time faculty members and other employees, who receive contracts for less than 12 months, receive the above benefits, with the exception of vacation leave. See specific policies relative to paid leave.
All benefits are approved on an annual basis. Provisions of specific benefits, including insurance policies, are subject to revision because of budgetary constraints, changes in insurance markets, and other factors influencing administrative decisions.
Contact for Interpretation: Chief Financial Officer
This policy statement supersedes all previous policy statements on this subject.
Revisions:
- 08/14/2017 - Reviewed
- 10/08/2014 - Reviewed, Revised-addition of first sentence, updated language, deletion of #13 Glorieta cabin
- 06/28/2011 - Edited
- 08/22/2007 - Edited
- 04/11/2007 - Reviewed
- 10/01/2004 - Reviewed
- 01/20/2003 - Reviewed and Edited
- 01/18/2002 - Layout and editorial
- 09/19/2001 - Reviewed and reissued as policy 2.5.3
- 12/16/1994 - Inception as policy 2.4.1.3
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