| DEFINITIONS: |
Benefits types: basic fringe rate, which covers the university cost of basic life insurance; unemployment compensation; Workman’s Compensation; fee courtesy for employee(s), spouse, and child; health care coverage and an administrative charge. The university cost of medicare and FICA up to an including the Internal Revenue Service limits, the cost of the PERF and TIAA-CRFF, and early retirement plans. |
| PROCEDURE REFERENCE: |
Basic Rate: covers all 2000-2999 position numbers regardless of FTE. Positions and payment not covered are student appointed positions, supplemental payments, terminal pay, hourly, premium, overtime pay, and resident interns. Basic life insurance applies only to full-time appointed employees.
FICA and Medicare Rate: charged to all positions except students and non-resident aliens on J-1 or F-1 visas.
Public Employees Retirement Fund (PERF): to be enrolled, employee(s) must be in an appointment of a minimum of 50% FTE, and it must be a FICA covered position for a twelve (12) month period, or 65% FTE for nine (9) months, or 60% FTE for ten (10) months. All types of wage payments are covered after the employee is enrolled.
TIAA-PERF-"TP": to be enrolled, the appointee must be 50% FTE for twelve (12) months, 65% FTE for nine (9) months, or 60% FTE for ten (10) months in a FICA covered position. Hourly appointees are exempt. All types of wage payments are covered after employee is enrolled.
TIAA-CREF-"TB": plan appointee must be 100% FTE for nine (9) months in a FICA covered position. Hourly positions are excluded. Only salary base positions are covered. Academic summer or supplemental payments are exempt.
TIAA-CREF-"TC": only appointees previously enrolled are eligible. New enrollees are not accepted. Twelve (12) month FTE and ten (10) month academic salary bases are covered. Academic summer and supplemental payments are exempt. |
