IRS Announces 2014 Plan Contribution Limits
The IRS announced cost-of-living adjustments (COLAs) affecting the dollar limits for pension plans and other retirement-related items for the 2014 tax year. Many of the retirement and pension plan limitations will change this year because the cost-of-living index met the statutory thresholds that trigger the adjustment. Among the changes, the 402(g) elective deferral contribution limit for employees who participate in 403(b)/401(k) plans remain the same at $17,500. The catch-up contribution limit for those age 50 and over also remains unchanged at $5,500.
TIAA-CREF and VALIC
This benefit is offered through TIAA-CREF and VALIC. The employee can contribute up to 6% of gross salary with pre-taxed dollars, which is 100% matched by JU. Eligibility for the Defined Contribution Plan (RA) is effective following one year of employment. The one-year waiting period is waived if, immediately prior to your employment at JU, you were previously employed for a minimum of one year with a higher education institution. Eligibility for the Tax Deferred Annuity Plan (SRA) is effective immediately upon your employment. The University also offers a supplemental plan through which employees can contribute additional pre-taxed dollars up to the amounts allowed by law. For further information go to the TIAA-CREF
web page or to the VALIC
Summary Plan Descriptions:
Defined Contribution Plan (RA)
Tax Deferred Anuity (SRA).pdf
Summary Annual Report.2012.pdf
Short Term Disability
This optional benefit will pay 60% of salary up to $500 per week and start on the 1st day for an accident and the 8th day for illness. Coverage is for 6 months. Maternity is covered. Short term disability fills the gap before long term disability becomes available. The employee pays 100% of the cost for short term disability. The coverage is effective the first day of the month following thirty days of employment, however if you are treated for an accident or illness 90 days prior to your coverage effective date then benefits are not paid for that condition until after 12 months employment.
JU Standard STD (Short Term Disability) Certificate.pdf
Long Term Disability
This benefit will pay 60% of salary up to $10,000 per month up to age 65. It is provided by Jacksonville University for all employees. Long Term Disability is effective the first of the month following the month of employment for Administration and Faculty, and is effective for Staff the first of the month following one year of employment.
Vision Care - Humana
This is a pre-paid plan offering benefits at no charge following a $10 deductible for exams within a network of providers and $25.00 deductible for purchased materials. You may choose a provider outside the network and be reimbursed according to a fixed schedule. Please refer to the electronic version of the brochure below.
Monthly Cost: Employee Only $6.50, Family $18.60
Flexible Spending Accounts
The FSA allows you to defer dollars tax-free to a savings account to pay for non-reimbursed medical, dental, vision care, prescriptions. Over-the-counter drugs are eligible only with a doctor's prescription. The FSA plan includes a debit card feature which allows you to swipe your card for automatic payment from the account at participating providers. Also available is a ChildCare FSA that can cover dependent care expenses for children under the age of 13 (13 or older if mentally or physically unable to care for themselves, or dependent adults) while you are at work. (New Hires have a 90-day waiting period to participate in the FSA account.) Further information may be obtained on the Ameriflex
website or by contacting the Human Resource Office
Health Savings Account (HSA)
The HSA is a new way for consumers to pay for medical expenses before you meet your deductible on the PPO 3160/3161 High Deductible plan. Qualified expenses include your out-of-pocket amounts for deductibles, prescriptions, dental care, or vision care. Over-the counter drugs are eligible only with a doctor's prescription. Funds can also be used for COBRA coverage during periods of unemployment, medical expenses after retirement and long-term care expenses. This benefit is for employees in the High Deductible 3160/3161 only.
Employee Assistance Program
Corporate Care Works
In addition to other benefits, Jacksonville University provides an Employee Assistance Program (EAP). This program is available 24 hours, seven days a week to help you and your family members with personal issues such as stress, family concerns, etc. You or your family member can discuss a variety of problems with the EAP counselors. Each family member is eligible to receive six (6) free visits within a calendar year. Complete confidentiality is assured. This program is at no cost to the employee. EAP is effective the first day of employment.
Coping with and managing stress
Coping with grief or loss
The EAP is available in several locations throughout Jacksonville with appointments available in the day or evening and also provides 24 hours a day assistance for crises calls. The EAP is pre-paid in full by the University and therefore free to you or any member of your family.
For more information please contact the EAP at 296-9436 or outside Jacksonville at 1-800-327-9757. In addition, you can access the web site for the EAP at http://www.corporatecareworks.com/
Jacksonville University encourages employees to continue their education in hopes of improving their knowledge, skills, and abilities. Tuition benefits will be granted to eligible Regular Full-time employees after 90 days of service. The tuition benefits are available to the employee, spouse and eligible dependent children. See the Employee Handbook for more details regarding this benefit.
JU currently also has a reciprocal tuition agreement with The Bolles School and St. John’s Country Day School. This agreement provides, after 90-days of service, the following tuition discounts for eligible dependent children:
The Bolles School – This benefit is only for dependents of full-time faculty and exempt administrative employees at JU. The benefit applies to the cost of tuition after payment of the deposit and does not apply to additional fees, such as facility fees. There is a 90% tuition discount for the first dependent child, with one additional child receiving a 50% discount. The benefit is for both the middle and high school (grades 6 through 12), contingent upon The Bolles School space availability for a particular grade. The most available spaces for new students are found in grades 7 and 9. Application deadline is January 1 and the dependent must be enrolled by May 1 for the next academic year. If you are interested in this benefit, you should contact their Office of Admissions as soon as possible.
St. Johns Country Day School – Regular full-time employees are eligible to receive a 50% tuition discount up to a maximum of $2,500 per academic year at St. Johns Country Day School. This discount is for each dependent child. This benefit is for all grade levels, which includes elementary, middle, and high school.
Jacksonville University also is a participant in The Tuition Exchange
. For more information on this program, please visit their website http://www.tuitionexchange.org/
. If you wish to make application for The Tuition Exchange, please contact the Director of Financial Aid at (904) 256-7243.
ALLSTATE OPTIONAL PLANS ARE NOW AVAILABLE:
NOTE: The information provided on these pages is a summary only and the plan documents govern all aspects of coverage. Certain plans contain both preexisting and underwriting restrictions. Please refer to the brochures from each insurance company for detailed information regarding the benefits or exclusions for each plan. The University reserves the right to alter its policies and practices as it deems necessary.