City University of New York Benefits Orientation -Instructional Staff-

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City University of New YorkBenefits
Orientation-Instructional Staff-

• Mr. Leslie Williams, University Director of
  Employee Benefits
• Ms. Yvonne Rodriguez, University Deputy Director
  of Employee Benefits
• Office of Human Resources Management

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OUR BENEFITS INCLUDE

• Pension Plans
• Alternative Funding Vehicles (AFVs)
• Tax Deferred Annuity (TDA)-Voluntary Savings
• NYS Deferred Compensation Plan
• NYC Health Benefits Program
• PSC-CUNY Welfare Fund Benefits
• Leaves
• Retirement
• Other Benefits

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CHOOSING A PENSION PLAN!Our Choices are

• NYC Teachers Retirement System (TRS)
• TIAA-CREF - (Optional Retirement Program)
• NYC Employees Retirement System (ERS)
• (only as a Transferred Contributor)
• Board of Education Retirement System (BOERS)
  (only as a Transferred Contributor)
• Please note New employees have 30 days from
  appointment to choose. After 30 days, New York
  State Education Law Section 6253 mandates
  assignment to TRS

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CHOOSING A PENSION PLAN!Review at a Glance!

• TRS
• Defined benefit plan
• Vesting after 5 years
• Employee contributes 3 pre-tax of base salary to
  Qualified Pension Plan (QPP) for first 10 years
  of public employment
• Employer contributes lump-sum to pension fund,
  not individual accounts
• Benefits based on age, final average salary (FAS)
  and years of service credit

• TIAA-CREF (ORP)
• Defined contribution plan
• Vesting after 366 days
• Employee contributes 3 of base
  salary, pre-tax
• Employer contributes 8 of salary for first seven
  years and 10 thereafter
  
• Employer/employee contributions held in suspense
  for 366 days
• Benefits based on amounts contributed by
  employer, employee, investment experience

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TRSWho can Participate?

• Full-time or part-time Instructional staff
• Credit for Multiple Employment Multiple
  Employment Membership status may increase funds
  in your various TRS accounts and may positively
  affect your FAS when your retirement allowance is
  calculated.
• To enroll, obtain from Human Resources/Personnel
  Department and complete
• Tier III/IV Enrollment Application and
  Beneficiary Form
• must be notarized
• necessary proof of birth documentation must be
  submitted
• Retirement Program Election Form
• Membership begins on day TRS receives Tier
  III/IV Enrollment Application or 30 days after
  CUNY appointment, whichever comes first.

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TRS Important Facts

• Benefits are based on age, final average salary
  and years of service credit (service prorated for
  part-time members)
• Vesting occurs after completing 5 years of
  membership service as an Instructional staff
  member
• In-service members who are at least age 55 and
  have completed at least five years of membership
  service, are eligible to receive immediate
  payment of a reduced retirement allowance
• Membership may be transferred to TRS from other
  City and State defined benefit systems

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TIAA-CREF Who can Participate?

• Full-time Instructional staff members
• Earnings in an adjunct/hourly Instructional staff
  position held by a full-time staff member are
  pensionable
• To enroll, employees obtain and complete the
  following from the Human Resources/Personnel
  Department
• TIAA-CREF Retirement Annuity Application
• Retirement Program Election Form
• beneficiaries must be listed

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TIAA-CREF Important Facts

• Vesting Cycle - If no previous vested CUNY
  Retirement Annuity contract or open Retirement
  Annuity contract from another employer, employee
  employer contributions are held in suspense
  account for 366 days (the vesting cycle).
• Senior Colleges Upon completion of vesting
  cycle, employer and employee contributions are
  sent from Office of State Comptroller (OSC) and
  applied to annuity contracts with 2 interest.
• Community Colleges Upon completion of vesting
  cycle, employee contributions held in deposit
  fund at TIAA-CREF are applied with 2 interest to
  contracts. CUNY applies employer contributions
  plus 2 interest to contracts.

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TIAA-CREF Important Facts Cont

• Retirement benefits based on amounts contributed
  by employer, employee and investment experience.
• To allow for diversification, after 366 day
  vesting period, can move funds to Alternate
  Funding Vehicles MetLife or Guardian.
• There is no minimum retirement age required to
  collect a retirement allowance. However, there
  is a tax penalty for early withdrawal.

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TIAA-CREF Important Facts Cont Changes to
Employer and Employee Contribution Rates Tier V

• If you have more than ten (10) years of ORP
  membership
• You are required to contribute 2 of your GROSS
  pay to your TIAA-CREF ORP Account. CUNY
  contributes an amount equal to 9 of your yearly
  salary. Once you reach seven (7) years of
  employment as an Instructional Staff Member, CUNY
  will contribute an amount equal to 11 of your
  yearly salary thereafter.
• Effective April 1, 2009
• Employees who contribute 2 will have their
  employee contribution reduced to 1, and 2 of
  their employee contribution made by the State or
  the City.
• Effective April 1, 2010
• Employees who have ten or more years of CUNY
  membership, will have the total 3 employee
  contribution made by the State or the City.

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How does an employee add to Personal Investments
for Retirement?

• Employees have the option of participating in a
  tax-deferred annuity 403(b) or a deferred
  compensation plan 457(b)
• The tax-deferred annuity 403(b) and the deferred
  compensation plan 457(b) allows employees to set
  aside pre-tax dollars subject to IRS limits
• As a result, the employee may voluntarily reduce
  their taxable income
• Tax-deferred annuity options
• New York City Teachers Retirement System
• TIAA-CREF
• Lincoln Life (represented by HRC)
• Deferred Compensation Plan options
• New York State Deferred Compensation Plan

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HEALTH BENEFITS

• Who can Participate?
• Employees who work on a regular schedule at least
  20 hours per week and
• Employees whose appointments are expected to,
  last for more than six months and
• Who are being paid from tax-levy funds
• How to Enroll?
• Complete the Health Benefits Application (Form
  ERB)
• To enroll eligible dependents acceptable
  documentation to support their eligibility status
  must be submitted and
• Returned along with the Health Benefits
  Application to the Human Resources/Personnel
  Department within 30 days of appointment

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HEALTH BENEFITS Who can be Covered?

• A legally married husband or wife, but never an
  ex-spouse
• Domestic Partner
• Unmarried children under age 19
• Unmarried children between 19 23 who are full-
  time students in an accredited educational
  institution
• Unmarried children who cannot support themselves
  due to disability that occurred while the
  dependent was covered by the City

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FLEXIBLE SPENDING ACCOUNTS Types of Flexible
Spending Accounts

• Health Care Flexible Spending Account helps to
  pay for out-of-pocket medical expenses while
  reducing taxable income.
• Dependent Care Assistance Program (DeCap) helps
  to pay for expenses to care for children or other
  eligible dependents while reducing taxable
  income.
• Medical Spending Conversion (MSC) Premium
  Conversion Program (automatic) pays for health
  premium deduction on a before tax basis, thereby
  reducing gross income tax.
• Medical Spending Conversion (MSC) - Health
  Benefits Buy-out Waiver program enables
  eligible employees who have non-city group health
  benefits to waive City health benefits in return
  for an annual cash incentive (500 for individual
  and 1,000 for family coverage) post-tax payment.
  Proof of coverage under another group health plan
  required.

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FLEXIBLE SPENDING ACCOUNTS Qualifying Events (QE)

• Mid-year changes due to change in family status,
  marriage, birth of child
• Change in employment status
• Attainment of the maximum age for coverage of a
  dependent child
• Significant change in spouses coverage which is
  outside of spouses control
• 30 days to submit documentation to go retroactive
  to date of the event

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HEALTH BENEFITS Transfer Period

• The Transfer Period is when changes can be made
  to the health plan without having a qualifying
  event
• The NYC Health Benefits Program determines the
  exact dates usually it is during the Fall
• All changes become effective the first day of the
  first full pay period in January of the next year

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WHAT IS PICA?

• PICA is a prescription drug program that covers
  all employees, non-medicare retirees and their
  dependents enrolled in a health plan offered by
  the City Health Benefits Program. Covered
  prescriptions are
• Injectable - most medications normally
  administered by injections (not in the doctors
  office)
• Chemotherapy - medications used to treat cancer

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LONG TERM CARE INSURANCE PROGRAMS

• Provides benefits when one is unable to care for
  themselves because of chronic illness, severe
  physical impairment, or disease that lasts a long
  time. Full-time members or retiree are eligible.
  Dependents can also be covered. Available plans
• MetLife offered by the City of New York
  (payroll deduction)
• John Hancock Mutual Life Insurance - offered by
  the PSC-CUNY Welfare Fund (payroll deduction)
• New York State United Teachers Long Term Care
  Program - offered by the PSC-CUNY Welfare Fund
  (payroll deduction)

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PSC-CUNY WELFARE FUND What are the benefits?

• Catastrophe Major Medical (voluntary plan)
• Extended Medical Benefit for members in
  GHI-CBP/Empire Blue Cross Blue Shield
• Death Benefit
• Dental Plan
• Group Long Term Disability
• Life Insurance (voluntary plan provided through
  NYSUT)
• Optical Hearing Aid Benefits
• Prescription Drug Plan

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PSC-CUNY WELFARE FUND

• Who is eligible for benefits?
• Those eligible for health coverage under NYC
  Health Benefits Program
• Full-time members with a six month or more
  appointment
• Paid from tax-levy funds
• Working at least 20 hours per week
• How to enroll?
• Complete PSC-CUNY Welfare Fund Enrollment Form
  obtained from Human Resources/Personnel
  Department.
• Enroll eligible dependents by submitting
  acceptable documentation to support their
  eligibility status.
• Effective Date
• PSC-CUNY Welfare Fund benefits begins 1st day of
  next month following appointment (or on 1st day
  of month if you start 1st day of month), if
  enrollment form (enrollment form and supporting
  documentation) received within 31 days.
• Human Resources/Personnel Department must receive
  enrollment form within 31 days of appointment
  date or benefits may be delayed or lost.

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PSC-CUNY WELFARE FUND Cont

• CATASTROPHE MAJOR MEDICAL (must purchase)
  Supplements basic health policy. Provided through
  Marsh Affinity
• 10,000 deductible
• Premium based upon age at time of enrollment
• Pays up to 2 million for up to ten years for
  covered services (medical, surgical
  convalescent expenses)
• Extended Medical Benefit GHI-CBP Members Only
  Pays for covered medical expenses not completely
  reimbursed under GHI-CBP plan,
• 1,000 deductible for individual and 2,000 for a
  family plan for those who purchase the optional
  rider through GHI
• 4,000 for an individual plan and 8,000 for a
  family plan for those who do not purchase the
  Optional Rider

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PSC-CUNY WELFARE FUND Cont

• DEATH BENEFIT 2,500 to designated
  beneficiary of employee
• who dies in active service
• Delta Dental USA Program-HMO Plan
• No premiums, claim forms, deductibles or annual
  lifetime limits
• Out-of-pocket expenses vary depending on services
• Orthodontia coverage for children and adult
• Flexibility in switching and selecting dentists
  within HMO network
• GUARDIAN Dental Guard Preferred
• No premiums, deductibles, or annual lifetime
  limits
• Out-of-pocket expenses vary depending on services
• Orthodontia coverage for children
• Freedom to use participating or non-participating
  dentists

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PSC-CUNY WELFARE FUND Cont

• GROUP LONG TERM DISABILITY
• Coverage through Standard Insurance after one
  year of service
• Basic Disability coverage pays 50 of
  pre-disability salary with a minimum of 1,250
  monthly and a maximum, of 2,500 monthly before
  offsets
• Begins 1st of month after six consecutive months
  of total disability
• Benefits continue to earlier of five years or age
  70, which ever comes first
• GROUP LONG TERM DISABILITY Optional Coverage
  (must purchase)
• Coverage through Standard Insurance after one
  year of service
• Disability coverage pays 60 of pre-disability
  salary with a minimum of 1,500 monthly and a
  maximum, of 6,000 monthly before offsets
• Begins 1st of month after six consecutive months
  of total disability
• Benefits continue to age 65
• If disability occurs after age 60, the 5-year/age
  70 provision of the basic plan applies.
• Contributions to TIAA pension equal to 10 of
  pre-disability salary (Minimum of 100 monthly)

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PSC-CUNY WELFARE FUND Cont

• GROUP LIFE INSURANCE (must purchase)
• Provided through the New York State United
  Teachers Trust (NYSUT) term life insurance plan
• New Full-time employees receive free for one year
  a 25,000 term life insurance policy with option
  to renew after one year
• Spouses or domestic partners and dependent
  children can be covered
• Employees under age 65 may apply for additional
  coverage up to 1,000,000. Physical exam may be
  required
• Policy is portable

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PSC-CUNY WELFARE FUND Cont

• OPTICAL BENEFITS
• Benefits available once every 24 months
• General Vision
• Plan includes eye exam and prescription
• Other options at employees expense
• "Off Year" benefit for dependent children who
  have a prescription change in year following year
  of use of benefit. MUST notify GVS if using this
  benefit at time of service.
• Davis Vision
• Plan includes eye exam and prescription
• Co-pay of 25 for contact lenses
• offers a percentage discount on "Offer Year" for
  contacts or frames and lenses.
• Direct Reimbursement Plan
• Maximum reimbursement of 100 for prescription
  glasses purchased through a non-participating
  provider

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PSC-CUNY WELFARE FUND Cont

• HEARING AID BENEFIT
• Benefits available once every 36 months
• Direct reimbursement of 500 maximum
• Brooklyn College is a participating outlet
• PRESCRIPTION DRUG BENEFIT - Medco Health
• Ability to get prescriptions through a network of
  participating retail pharmacies or through the
  Medco Health Home Delivery Pharmacy

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FAMILY AND MEDICAL LEAVE ACT (FMLA)

• Family and Medical Leave Act (FMLA) entitles
  eligible employees to take up to 12 weeks of
  unpaid, job protected leave for qualifying
  reasons during the designated leave year,
  September 1st through August 31st. Must have
  worked for at least 12 months and 1250 hours.
• Employees pay their share of premiums through
  direct pay. Employer share paid by CUNY.

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LEAVES

• HOLIDAYS (non-teaching staff)
• Independence Day New Years Holiday (2 days)
• Labor Day Martin Luther King JRs Birthday
• Columbus Day Lincolns Birthday
• Thanksgiving Holiday (2 days) Presidents Day
• Christmas Holiday (2 days) Memorial day
• JURY DUTY - Employees who are required to serve
  on a jury receive their regular salary during any
  absences provided they remit to CUNY an amount
  equal to compensation received by them, if any,
  for jury duty.
• LEAVES FOR CHILD CARE - Special leaves without
  pay for purpose of caring for a newborn child are
  granted upon notification to the President (or
  Chancellor) provided that employee has legal
  responsibility for care and/or support of child.

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LEAVES CONT

• SLOAC - Special Leave of Absence Coverage
  provides
• up to four months of additional health coverage,
  for an employees own illness, if all accumulated
  leave balances have been exhausted including sick
  leave leave, annual leave and compensatory time.
• Employees pay their share of the premiums through
  direct pay.
• The employer share is paid by CUNY.
• TEMPORARY DISABILITY (Sick Leave) -
• Each year 20 calendar days of temporary
  disability leave is earned.
• The unused portions of temporary disability leave
  can be accumulated to a maximum of one hundred
  and sixty (160) calendar days.

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ANNUAL LEAVE (VACATION)

• Full-timers in College Laboratory Technician
  title series, HEO title series, and Business
  Manager title series employed prior to January 1,
  1988, and all employed as Research Associates
  have 25 work days per year of annual leave.
• Full-timers employed in College Laboratory
  Technician series, HEO title series, and as
  Research Assistants on or after January 1,
  1988, accrue annual leave
• During the 1st year of service - 15 days
• During 2nd through 11th year - 15 days plus
  of service thereafter one additional day for
  each year of service to a maximum of 25 days

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ANNUAL LEAVE (VACATION) CONT..

• Full-timers employed as Librarians on or after
  January 1, 1988 accrue annual leave at the
  following rates. Full-timers appointed as
  Counselors or to other student personnel
  assignments on or after January 1, 1988, except
  those in Higher Education Officer series, accrue
  annual leave
• During the 1st year of service - 20 days
• During 2nd through 11th year - 20 days plus
  of service thereafter one additional day for
  each year of service to a maximum of 30 days

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OTHER BENEFITS

• COBRA - Employees, retirees and family members
  offered opportunity to continue group health
  and/or welfare fund coverage where coverage would
  otherwise terminate.
• Monthly premium is 102 of group rate.
• Maximum period of coverage is 18, 29, or 36
  months depending on the reason for continuation.
• COLLEGE SAVINGS PLAN (529) - College Savings Tax
  Deductible Plan administered through Upromise
  Investments Inc. Parents, grandparents,
  relatives or friends set up tuition savings
  account for future college students through
  payroll deductions. Program allows savings for
  higher education expenses. Can save 5,000 per
  year per person. Married couples filing jointly
  can save 10,000.
• CUNY E-MALL - The CUNY E-Mall lists a variety of
  discounts and offering of products and services
  for CUNY employees and students. www.cuny.edu
  then go to the CUNY e-mall.

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OTHER BENEFITS CONT

• FEDERAL CREDIT UNIONS - Employees eligible to
  participate in the Education Affiliates FCU
  (formerly PSC-CUNY FCU) the Municipal Federal
  Credit Union. Services include share savings
  plans, individual retirement accounts (IRA) and
  term share certificates with various maturities,
  loans, credit cards.
• HIPPA - Certificate of Group Health Plan coverage
  issued to employee upon termination to certify
  coverage that will be credited against any
  pre-existing exclusion period under a new health
  plan.
• SAVINGS BONDS - U.S. Savings Bonds are a safe
  easy way to save money and a way to increase
  retirement investment portfolio through payroll
  deductions.

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OTHER BENEFITS CONT

• TRANSITBENEFIT Transportation Spending Account
  (TSA) is a voluntary benefit for eligible
  employees interested in saving on New York City
  Transit subway and bus costs. Depending on
  particular tax situation and NYCT commuting
  expenses, employee could save more than 200
  annually commuting by subway or local bus, more
  than 300 if commuting by express bus.
• CUNY WorkLife Program A voluntary, free and
  confidential benefit for active employees and
  their families. The program is administered by
  Corporate Counseling Associates, Inc. (CCA).
  Services offered under the program include 1)
  traditional counseling for stress 2) family
  issues or substance abuse 3) access to legal and
  financial assistance 4) referrals for child
  care and 5) elder care.

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OTHER BENEFITS CONT

• TUITION WAIVERS -Tuition may be waived for
  Undergraduate, Graduate and Online Baccalaureate
  courses at any college of CUNY on a space
  available no cost basis for the employee only
  (online courses are available through the School
  of Professional Studies at the Graduate School
  and University Center). No waivers are available
  in summer or winter sessions.
• Number of undergraduate credits for which
  tuition may be waived is unlimited. One year
  service requirement.
• Number of graduate credits for which tuition may
  be per semester waived is six. No service
  requirement for graduate tuition waiver.
• WORKERS COMPENSATION - Benefits if employee
  suffers a job-related injury or illness.

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TRAVIA (Sick Leave Paid Upon Retirement)

• Members of a public retirement system (TRS, ERS
  or BOERS) must meet the eligibility requirements
  for a service retirement and must declare their
  bonafide intention to retire, file an application
  for retirement with their retirement system
• ORP members are eligible for Travia if they
  declare their bonafide intention to retire, file
  an application for retirement with TIAA/CREF and
  are
• Tier 1 - age 55 or possess 20 years of service
  Tier 2 - age 55 or possess 20 years of service
  Tier 3/4/5 - age 55 and possess 5 years of
  service
• Retirees are granted a retirement leave of
  absence with full pay consisting of a maximum of
  five (5) months of pay if they have accrued 160
  days. Those who have fewer than 160 sick days
  will receive one-half of their accumulated unused
  sick days

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Eligibility for Retiree Health Benefits

• NYCERS/TRS members who retire with immediate
  payability are eligible for benefits
• Tier 1 NYCERS members who retire with deferred
  payability can retain benefits for 5 years while
  in such status. If the deferment lasts longer
  than 5 years, benefits will be suspended until
  the retiree begins receiving retirement income
  from NYCERS
• TRS members who retire with deferred payability
  retain the right to retiree health coverage upon
  receiving retirement income from TRS
• Retirees pay their share of the premiums through
  pension deductions. The employer share is paid
  by CUNY

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Eligibility for Retiree Health Benefits Cont.

• TIAA-CREF members initially appointed to a
  full-time position
• a. on or before June 30, 1976
• 1. Separated at age 55 or over, with at least 10
  years of pensionable, continuous, full-time CUNY
  service, or
• 2. Separated prior to 55, with at least 15 years
  of pensionable, continuous full-time CUNY service
  and attained the age of 55.
• b. appointed between July 1, 1976 and August 31,
  1985
• 1. Separated with at least 15 years of
  pensionable, continuous, full-time CUNY service
  and attained the age of 62, or
• 2. Separated with at last 10 years of
  pensionable, continuous, full-time CUNY service,
  and no subsequent full-time employment in a
  college, university, or other institution of
  post-secondary education related to duties
  performed while in active service in CUNY or to
  duties normally performed by Instructional staff
  at CUNY and attained age 62.

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Eligibility for Retiree Health Benefits Cont.

• c. appointed on or after September 1, 1985
• 1. Separated at age 62 or over with 15 years
  of pensionable, continuous, full-time CUNY
  service, or
• 2. Separated prior to age 62, with 15 years of
  pensionable, continuous, full-time CUNY service
  and no subsequent full-time employment in a
  college, university, or other institution of
  post secondary education related to duties
  performed while in active service in CUNY or
  to duties normally performed by Instructional
  staff at CUNY and attained age 62.