Summary of Benefits

Summary of Benefits

Group Health Insurance effective 6-1-2016:  

The University has group health insurance through FirstCare Health Plans.  Participants use physicians approved by the plan. Sign up period – no later than 30 days from start date of employment or during open enrollment.

HMO Base Plan: ($2,500.00 deductible medical plus co-pays/ $100.00 deductible prescriptions plus co-pays)

Current Premiums are: Total McM pays Employee
Employee only $436.92 $343.75 $93.17
Employee/Spouse $930.75 $418.89 $511.86
Employee/Children $674.29 $343.75 $330.54
Family $1,143.19 $519.21 $623.98

HMO Buy-Up Plan: ($1,000.00 deductible medical plus co-pays/ $100.00 deductible plans plus co-pays)

Current Premiums are: Total McM pays Employee
Employee only $527.28 $343.75 $183.53
Employee/Spouse $1,123.24 $418.89 $704.35
Employee/Children $812.36 $343.75 $468.61
Family $1,379.61 $519.21 $860.40

 

PPO Plan: ($2,500 deductible medical plus co-pays/ $100.00 deductible prescriptions plus co-pays)

Current Premiums are: Total McM pays Employee
Employee only $612.86 $343.75 $269.11
Employee/Spouse $1,237.74 $418.89 $818.85
Employee/Children $911.45 $343.75 $567.70
Family $1,506.56 $519.21 $987.35

Retirement Plan:

To participate in the retirement plan, employees must contribute 1 % to 4% of their annual base salary to a 403(b) retirement plan.  The University will then match that percentage (1 % to 4%) contribution to the same plan. Employees are immediately eligible. The amount contributed by the University is vested three years after the employee’s date of benefit eligibility, for employees who have contributed to the retirement plan.  Employees have a wide choice of investment vehicles through the following companies:

TIAA-CREF

Enroll on-line at www.tiaa-cref.org/myretirepentplan
Employer code 366075.  For enrollment assistance call: 1-800-842-2888

Lord Abbott

Mark Miller, 325-698-5063

AXA-Equitable

Josh Henson, 1-512-794-2326

VOYA

Ty Edwards, 1-800-774-0566; morgan.edwards@ingfp.com

Term Life Insurance:  
The University pays 100% of the premium for term life insurance in an amount equal to one year’s salary (up to $50,000), which is carried through Hartford Life Insurance Company, subject to age reduction.

Group Long Term Disability:
The University pays 100% of the premium for long-term disability, which is carried through Hartford Life Insurance Company.  

Other Insurance Plans:
Other optional insurance plans are also available for employees and immediate family members.  The employee pays 100% of those premiums.  These include:

Cancer and/or Accident Insurance through Transamerica
Eye Care through Superior Vision
Dental Care with or without Ortho through Ameritas
Additional Life Insurance through Hartford Life Insurance Company

Section 125-Cafeteria Plan through Flex Administrators:  This allows you to tax shelter any unreimbursed medical or child care expenses that you plan to incurs over the plan year.
 
Education Benefit for Employees and Dependents:


The immediate family members of full-time faculty, staff and administration are eligible for Education Benefits at McMurry University.   Please check with the Financial Aid Office for more information.

Financial Aid Office, ext. 4713

Vacation Leave

Consecutive
Years of Employment

   Vacation Hours Accrued Per Month     

        FT 

      ¾

       ½ 

       ¼ 

 1 month- 7 years

 6.67 hours

  5 hours

 3.33 hours

 1.67 hours 

 8 years -14 years

 10 hours

 7.5 hours

 5 hours

2.5 hours

 15+ years 

 13.33 hours

 10 hours 

 6.67 hours

 3.33 hours


Holiday Schedule


Sick Leave

Sick leave may accrue to a total of sixty (60) days and sick leave pay may be drawn up to a maximum of forty (40) hours per week.  An employee is eligible for ten (10) paid sick days per fiscal year. 

For other miscellaneous employee benefit programs & services, please visit your Employee Handbook for a complete listinghttp://mcmnet/resources/Human_Resources/Shared%20Documents/McMurry-Employee-Handbook.pdf