Administration > Human Resources

2006 SUMMARY OF PARTICIPATORY BENEFITS

Listed below is a summary of the benefits that are offered to all Full-time Faculty, Part-time Faculty teaching at least six semester hours, Staff employees who work at least 20 hours or more per week.

1. Health Insurance - Xavier University pays 85% of the premium cost and the employee pays 15% of the premium cost for employee only coverage. The employee has the option to elect dependent coverage at 100% of the premium cost. See mor detail...

2. Group Life Insurance - Life Insurance is equivalent to one times the employee's base salary. Xavier University pays 100% of the premium costs.

3. Optional Life Insurance - Additional Life Insurance is 100% paid by the employee. Insurance may be purchased for the employee, spouse and eligible dependent children.

4. Long Term Disability - Disability Insurance is 100% paid for by the University. The employee receives 60% of their base salary upon approval of the claim and completion of a three month elimination period.

5. TIAA-CREF Retirement - The University offers a 403(b) Retirement Plan. An employee is eligible to join the plan after two years of employment. The University will match employee contributions up to 6%. If the employee has successfully completed two years at another University, the University will immediately match contributions. The IRS legal limit for employee contributions for the year 2006 is $15,000. If the employee has been working at the University for 15 years, the employee can contribute an additional $3,000. If the employee is 50 years of age or older, the employee can contribute an additional $5,000 in 2006. See more detail...

6. SRA (Supplemental Retirement Annuity) - the University offers a non-matching Supplemental Retirement account which can not exceed the IRS legal limit of $15,000 combined with the TIAA-CREF Retirement.

7. Flexible Spending Reimbursement Account - Medical and Dependent Care Accounts that are exempt from taxes. The University deducts dollars from your paycheck and puts them into Flexible Spending Accounts. THE MORE MONEY YOU PUT INTO THE PLAN, THE MORE TAXES YOU AVOID. As you incur eligible expenses throughout the year, you submit a reimbursement form along with documentation of the expense and you are reimbursed . If you don't use the elected money each plan year, you lose it. For a list of eligible expenses, contact the Human Resources Office. Flexible Spending Enrollment 2006.

8. Dental Insurance - Dental Insurance is 100% paid by the employee. The maximum the Insurance will pay is $2,500 for the year 2006. For a directory of in-network dentists visit www.aetna.com/docfind. See more detail...

January 2006