Mandatory Benefits
Teacher's Retirement System of 51动漫
All non-exempt, benefited employees of 51动漫, working one-half time or more, are required to participate in the Teachers' Retirement System of 51动漫 (TRS). Membership in TRS requires a pre-tax contribution of 6% of the employee's salary while the university contributes 19.81%. The employee's contribution is sheltered from federal and state tax. An employee must be in TRS for a minimum period of 10 years to be vested. TRS is a Defined Benefit Plan and the retirement benefits are based on years of service and the member's highest 24 months' salary. Exempt employees and faculty may choose between the TRS plan and the Optional Retirement Plan (ORP).
Optional Retirement Plan
All exempt, benefited staff and faculty may choose to establish retirement under the ORP (a.k.a., Regents Retirement Plan) or the TRS Plan. The ORP is a Defined Contribution Plan and the employee contributes 6% of their salary, while the university contributes 9.24%. If the exempt employee chooses the ORP, money may be invested with TIAA CREF, AIG, or FIDELITY INVESTMENTS. Contributions are immediately vested into this plan, and the employee controls his/her investment portfolio.
Exempt employees and faculty must choose between the TRS and the ORP plan. This decision must be made within 60 days from the date of hire. The TRS or ORP enrollment form must be returned to Human Resources. This is an irrevocable decision. If no decision is made within 60 days, he/she will be enrolled in TRS by default.
Social Security/Medicare
All full time benefited employees are required to participate in Social Security and Medicare. The university matches the employee's contribution (Social Security 4.20% and Medicare 1.45%).
Life Insurance
All benefited employees who are working at least one-half time will be provided with $25,000 (Basic) term life insurance at no cost to the employee. The employee should name his/her beneficiary on the OneUSG Connect Benefits Portal.
Annual Leave
A benefited employee who is working one-half time or more is eligible to earn annual leave. Full-time, benefited employees earn annual leave at the rate of ten (10) hours per month for the first five years of service. Annual leave is prorated for those employees working less than full-time. After five years of service, a full-time employee accrues at the rate of twelve (12) hours per month. After ten years of service, a full-time employee accrues at the rate of fourteen (14) hours per month. A limit of 360 accrued hours will carry forward to a new calendar year.
Sick Leave
All benefited employees earn sick leave at the rate of eight (8) hours per month. When working a minimum of one-half time or more, sick leave is prorated based upon appointment.
Other Leave
Other absences from work such as medical leave without pay, Family Medical leave, personal leave without pay, military leave with pay, military leave without pay, and jury duty are also available for eligible employees. Contact Human Resources for more information.
Workers Compensation
All employees are covered by the 51动漫 Workers Compensation Act. This act provides payment for medical and hospital expenses as well as disability compensation in the event an employee is injured while performing his/her job duties. Any injuries that occur should be reported to your supervisor.