Benefits and Beyond
Mark O’Riley
Learning and Organizational Development
Long Term Disability (LTD)
• LTD provides income to eligible staff members
who are unable to work due to illness or injury.
• Coordinated coverage is equal to up to 85% of
your pre-disability monthly earnings.
• While you are disabled and receiving benefits
from the LTD Plan all University group and
pension contributions are paid by the university
Supplementary Health
• Out of Province/country emergency medical coverage
– 100% coverage for in-hospital expenses.
– There is no maximum on in-hospital expenses.
Healthcare Spending Account (HCSA)
• Maximums for the HCSA are:
April 1, 2014
Full-Time
Part-Time
$600
$420
• Your HCSA can be used for expenses not covered
under the Supplementary Health Plan such as
prescribed vitamins or vaccines and can be used to top
up payment for services, such as deductibles.
Active Living Center
Gym Membership Rates
MEMBER
1-MONTH 4-MONTH TERM
CATEGORY
Total
Total
Month
U of M Staff
66
174
43.50
Staff Spouse
63
118
29.50
Dependent
29
45
11.25
(ages 6-14)
Student
74
146
36.50
Non-U of M
Intermediate
74
187
46.75
(18-24)**
8-MONTH TERM
12-MONTH TERM
Total
235
161
Month
29.38
20.13
Total
298
208
Month
24.83
17.33
60
7.50
68
5.67
186
23.25
235
19.58
277
34.63
387
32.25
Retirement Benefits
• Continue Supplemental Health benefits
after you retire
– Must have at least 10 years of continuous
service prior to your retirement to be eligible.
– Responsible to pay 100% of the premium cost
– If you have over 20 years of continuous
service you pay 50% of the premium cost until
you turn 75. From age 75 onwards you pay
100% of the premium cost.
Pension Plan Benefits
• There are two types of pension plans: defined benefit
(DB) that offer the security of a clearly defined benefit
and a defined contribution (DC) that offer added
flexibility and the prospect of enhanced benefits through
superior investment experience.
• The hybrid plan provides you with a clearly defined
formula based pension and lets you benefit fully from
strong investment markets.
• When you retire, you receive the greater of the DB or the
DC benefits.
Pension Contributions
Effective January 1, 2014
Salary
Employee
Contribution
University
Matching
Total
Employee
Account
$35,000
2,583
$2,583
$5,166
$65,000
$4,968
$4,968
$9,936
$95,000
$7,668
$7,668
$15,336
$125,000
$10,368
$10,368
$20,736
Staff Benefits Office
• The Staff Benefits Office is responsible for the
day to day operation of the group insurance and
pension plans.
• You can contact us by e-mail, phone or visiting
our office at Room 180 Extended Education
Building. Our web site has a great deal of
information, the booklets, newsletters, and
premiums rates can all be found. You can also
contact us by e-mail from the web site.
Tuition Reimbursement
• Program is currently being revamped
• In January we hope to introduce a fast track
systems to get claims reimbursed quicker.
Wellness Programs
• Sessions focused on promoting wellness in the
workplace.
– Dealing with stress
– Communication skills
– Work/Life balance
Career and Professional Development
• New position in LOD starting in the new year.
• We will work with the university community to
setup supports that help individuals attain their
career aspirations within the University.
Human Resources
Working together to enhance that supports
and services that we offer the university
community.