NDNU Employment Benefits
Other Benefits At-a-glance
Flexible Spending Account
NDNU FSA Highlights 2012: In General, you can use your contributions to help pay for the cost of care for your eligible dependents so that you (or if you're married, you and your spouse) can work. Because of tax advantages, rules and limitations are clearly defined by the IRS (including eligible expenses). Use it or lose it - carefully estimate the amount you want to contribute. The IRS requires you to forfeit any amounts not spent by the end of the year. The contribution elections you make when you enroll generally must stay in effect for the entire calendar year. You cannot increase, decrease or cancel your contributions during the year unless you have a change in family status (e.g. marriage, divorce, birth, or adoption of a child, etc.).
The University provides one defined contribution retirement plan: TIAA-CREF. The percentage of each Qualifying Contributing Participant's Elective Deferrals is determined by the employee and will not exceed established annual limits. Discretionary contributions, if applicable for which the employer, in its sole discretion, determines from year to year will be paid in annually after the close of the plan year. The amount, the allocation formula, and the percentage or dollar amount limit applicable to such contribution/s, if any, is at the complete and sole discretion of the employer and may vary from year to year. Any Contribution will be allocated in a nondiscriminatory manner based upon each eligible employee’s base salary for the plan year. Currently effective July 1, 2011, the employer match contribution was determined to be up to 2 percent of base compensation. Effective for the plan year ending June 30, 2012 a non-elective deferral of 4 percent was instituted. (For additional details see the Notre Dame de Namur University Summary Plan Description)
Life and AD&D Insurance
Premiums are paid in full by the University for a term life insurance benefit of $50,000. Coverage is effective the first of the month following thirty (30) days of employment with the University.
Employees are covered by California Disability Insurance pursuant to the California Unemployment Insurance Code. The University's Long-Term Disability (LTD) program provides insurance (income protection) during a prolonged period of disability. Coverage begins on the 91st calendar day of disability and provides for 66-2/3% of the employee's base salary. Coverage is effective the first of the month following thirty (30) days of employment with the University; premiums are paid in full by the University.
Long-Term Care (LTC) is a supplemental insurance which covers nursing facility and home care if you become disabled for a period of more than 90 consecutive days. Employees may purchase this Long-Term Care insurance through a group sponsored carrier. Coverage is available for employees, their spouses, children and parents. Enrollment materials and rates can be obtained from the Human Resources Office.
Premium Savings Plan
Health and dental premiums are paid for with pre-tax dollars.
Your paycheck may be deposited to any bank or credit union.
Provident Credit Union
Provides financial services to enrolled members.
Discounted premiums may be available for employees through California Casualty (800) 800-9410, ext. 8205.