Age on Retirement Date - based on an August 31st date in the year in which retirement will occur	Percentage of Final Salary Paid
59 1/2 to 62	192%
63	168%
64	144%
65	120%
66	96%
67	72%
68	48%
69	24%

The payments described above shall be subject to withholding for applicable taxes.

Health Insurance Upon Retirement

· If a faculty member elects to retire under the Early Retirement Plan for Tenured Faculty he/she will receive University medical insurance benefits, until age 65, on the same basis as if he/she had continued service as an active faculty member. Based on the plan chosen, he/she will be billed the employee cost of the medical insurance.
· The medical insurance benefit will be administered in accordance with applicable medical plan documents.
· A retired faculty member, under age 65, has the option to continue medical coverage for enrolled eligible dependents: spouse (until he/she becomes eligible for Medicare) and children (until the end of the calendar year in which the child turns 23) in a University health insurance plan as long as they were enrolled at the time the faculty member retired.
·  Should the faculty member predecease his/her dependent(s) while on the active health insurance plan, the eligible spouse and children will be offered COBRA for up to thirty-six (36) months.
·  When a faculty member who has elected to retire early under this plan reaches age 65, he/she will cease participation in the medical plan for active faculty members.
· Faculty hired on or prior to August 31, 2003 will receive post-retirement medical benefits under the University Medicare Supplement Plan currently in effect for retired faculty. The University will pay up to $2,400 per year for faculty for this plan. If the faculty member's spouse was covered at the time the Faculty member retired, he/she may enroll in the University Medicare Supplement Plan upon reaching age 65. The Faculty member is responsible for the full cost of the premium for his/her spouse.
·  The retired faculty member will be billed for his/her share of the monthly premium to provide the above-mentioned coverage. Cost information is available from the Department of Human Resource Services.
· Faculty hired on or after September 1, 2003 are not eligible for the Medicare Supplement Plan provided by the University.
· If the faculty member was hired on or after September 1, 2003 and participates in the "Early Retirement Plan for Tenured Faculty", the University's medical coverage will end when the faculty member turns 65. At age 65, faculty may enroll in his/her own Medicare Supplement and assume the cost.
 
Faculty Perquisites at Retirement (other than insurance)

Continue as if the faculty member had not elected early retirement (e. g., tuition exchange, tuition remission, e-mail account, library privileges, etc.)

For more detailed information about this plan contact Human Resource Services.

D.  Emeritus Status

A faculty or administrative staff member who has served the University with distinction for 20 years or more, and who remains on active status until retirement, will normally be awarded the title of "Emeritus" upon recommendation by the President, by action of the Board of Trustees. The Board may, at its discretion, award emeritus status to particularly deserving retirees who have served less than 20 years.

E.  Health Insurance

1. Administered by
Anthem Blue Cross Blue Shield

2. Plan Year
January 1st - December 31st

3. Primary Plan
Anthem Blue Cross Blue Shield's HMO (Health Maintenance Organization) Healthkeepers Product.

4. Alternative Plans
Anthem Blue Cross Blue Shield's PPO (Preferred Provider Organization) KeyCare.

5. Employee Only
The University pays 100% of the monthly premium for the primary plan (Anthem Healthkeepers Product 10). Should faculty elect an alternative plan, the University will pay up to the amount for the coverage that would have been paid had he/she chosen the primary plan. The balance owed by the faculty member, if any, is paid through payroll deduction on a pre-tax basis.

6. Dependent Coverage
Faculty have the option to enroll eligible family members, defined for this benefit's purpose as the faculty member's spouse and dependent children (until the end of the calendar year in which the child turns 23), into his/her health insurance plan. The University pays 50% of the monthly dependent premium for the primary plan and the faculty member must pay the remaining balance. Should a faculty member elect the alternative plan, the University will pay up to the amount for the coverage that would have been paid had he/she chosen the primary plan. Faculty make up the balance of the premium through payroll deduction.

7. Cost
Costs for all plans are based on the University's experience and are subject to annual change.

8. Enrollment
Full-time faculty are eligible for coverage on the 1st of the month following his/her official employment date. If he/she begins employment on the 1st of the month, then he/she is eligible immediately.

It is the responsibility of the Faculty member to complete an enrollment application for one of the University's health insurance plans no later than thirty-one (31) days after his/her employment date. If a faculty member fails to comply with this requirement, his/her medical insurance must be with the primary plan, Healthkeepers 10, and coverage will not become effective until the 1st of the month following receipt of the enrollment application in the Department of Human Resource Services.

9. Waiver of Coverage
Faculty may choose to waive his/her enrollment in the University's health insurance plans and receive a $500 taxable cash benefit if he/she has coverage elsewhere. The Department of Human Resource Services must receive the waiver form no later than thirty-one (31) days after his/her employment date. Additional information concerning the waiver is available from the Department of Human Resource Services.

Please note that Health insurance plans may only be changed during Open Enrollment. However, faculty whose eligibility status changes during the year may be eligible to make changes to his/her current plan (e.g.: adding or removing dependents, etc.) within thirty-one (31) days of the status change.

10. Health Insurance Upon Termination
Health insurance coverage, for all full-time faculty, continues until the last day of the month in which he/she is employed by the University on a full-time basis. For full-time faculty leaving at the end of the spring semester, coverage will end May 31. Faculty who are resigning or who are on term appointments will not be covered beyond this date, even if they have opted to receive monthly paychecks for the twelve-month period. They are given the opportunity to continue their health plan at their own expense (paying the additional portion formerly paid by the University on their behalf plus 2%) under COBRA (Consolidated Omnibus Budget Reconciliation Act). Faculty who are not continuing with the University and wish to extend their coverage, should contact the Assistant Director, Benefits.

11. COBRA
The Federal Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA) provides eligible faculty and their qualified dependents the opportunity to continue coverage under the University's health and dental insurance plans when a "qualifying event" would normally result in loss of benefits. Some common qualifying events would be termination of employment (except termination for gross misconduct), death of a faculty member, a reduction in faculty member's hours or a leave of absence, a faculty member's divorce/legal separation, and a dependent child who no longer meets eligibility requirements. Faculty who are eligible for continuation of their health care and other coverages as stipulated in COBRA will receive written information concerning this benefit from the Department of Human Resource Services. Under COBRA, faculty and his/her dependent(s) will pay the full cost for coverage at the University's group rate plus an administration fee. The written materials provided would clearly outline how long the faculty member and his/her dependent(s) will be eligible for the COBRA coverage.

12. Health Insurance Portability And Accountability Act
The Health Insurance Portability and Accountability Act (HIPAA-1996) requires that a certificate of insurance be given to all terminated faculty who have been provided health insurance through the University's group plans. This certificate provides evidence of coverage so that potentially the terms of pre-existing conditions may be waived with a new health insurance provider. Continuous health insurance coverage with the University will count towards the time period required by the new insurance provider. Your health insurance carrier will mail the certificate to you. If the certificate is not received within thirty (30) days, then please call the Assistant Director/Benefits for the Department of Human Resource Services at (804) 289-8877 so that we may ensure one is mailed to you.

13. Health Insurance Upon Retirement
· If a faculty member elects to retire under the Early Retirement Plan for Tenured Faculty he/she will receive University medical insurance benefits, until age 65, on the same basis as if he/she had continued service as an active faculty member. Based on the plan chosen, he/she will be billed the employee cost of the medical insurance.
· The medical insurance benefit will be administered in accordance with applicable medical plan documents.
· A retired faculty member, under age 65, has the option to continue medical coverage for enrolled eligible dependents: spouse (until he/she becomes eligible for Medicare) and children (until the end of the calendar year in which the child turns 23) in a University health insurance plan as long as they were enrolled at the time the faculty member retired.
· Should the faculty member predecease his/her dependent(s) while on the active health insurance plan, the eligible spouse and children will be offered COBRA for up to thirty-six (36) months.
·  When a faculty member who has elected to retire early under this plan reaches age 65, he/she will cease participation in the medical plan for active faculty members.
· Faculty hired on or prior to August 31, 2003 will receive post-retirement medical benefits under the University Medicare Supplement Plan currently in effect for retired faculty members. The University will pay up to $2,400 per year for the faculty member for this plan. If the faculty member's spouse was covered at the time the Faculty member retired, he/she may enroll in the University Medicare Supplement Plan upon reaching age 65. The Faculty member is responsible for the full cost of the premium for his/her spouse.
·  The retired faculty member will be billed for his/her share of the monthly premium to provide the above-mentioned coverage. Cost information is available from the Department of Human Resource Services.
·  Faculty members hired on or after September 1, 2003 are not eligible for the Medicare Supplement Plan provided by the University.
·  If the Faculty member was hired on or after September 1, 2003, the University's medical coverage will end when the faculty member turns 65. At age 65, the faculty member may enroll in his/her own Medicare Supplement and assume the cost. 

F.  Post Retirement Health Insurance (Medicare Supplement Plan)

Faculty members hired on or after September 1, 2003 are not eligible for the Medicare Supplement Plan provided by the University. This section pertains to Retirees who are eligible for Medicare. If taking an early retirement, then refer to the Early Retirement Plan for Tenured Faculty Section.
 
1. Coverage
The extent of a faculty member's coverage under this benefit is a condition of the faculty member reaching age 65, his/her date of hire and length of continuous service. The University places a cost cap on the employer contribution to this benefit for faculty. Once the cost cap is reached, faculty are responsible for any co-payment and the resulting balance.

2. Cost for eligible retirees
·  20 years of continuous service at retirement:
Full payment of the monthly premium for faculty is paid by the University until the cost cap ($2,400/year) is reached;
· 15 years of continuous service at retirement:
66% of the monthly premium for faculty is paid by the University until the cost cap ($1,600/year) is reached;
·  10 years of continuous service at retirement:
50% of the monthly premium for faculty is paid by the University until the cost cap ($1,200/year) is reached.

3. Eligibility Chart for full retirement benefits for Social Security
Beginning with persons born in 1938, the full retirement age will gradually increase from age 65, eventually reaching age 67 for persons born in 1960 and later.

Birth Years	Retirement Age
Before 1938	65
1938	65 and 2 months
1939	65 and 4 months
1940	65 and 6 months
1941	65 and 8 months
1942	65 and 10 months
1943-1954	66
1955	66 and 2 months
1956	66 and 4 months
1957	66 and 6 months
1958	66 and 8 months
1959	66 and 10 months
1960 and later	67

This chart reflects when a person receives full retirement benefits for Social Security. Eligibility for Medicare is on the 1st day of the month that he/she turns 65.

4. Enrollment
If the faculty member retires prior to age 65 and was hired on or prior to August 31, 2003, then enrollment in the Medicare Supplement Plan will be effective the 1st of the month the faculty member turns 65. If the faculty member retires after age 65, and was hired on or prior to August 31, 2003, then enrollment will be the 1st of the month following the retirement date. Information on this plan may be requested from the Department of Human Resource Services. If the faculty member was hired on or prior to August 31, 2003 and the faculty member's spouse was covered under the University health plan at the time the faculty member retired, the spouse may enroll in the University Medicare Supplement Plan. The faculty member is responsible for the full cost of the premium for his/her spouse. Should the retired faculty member predecease his/her spouse, the spouse may continue his/her Medicare Supplement Plan at full cost. In the event that the spouse does not want to continue the Medicare Supplement Plan, termination of spousal coverage following the faculty member's death will be effective on the last day of the month following the month in which the faculty member's death occurred. This only applies if the spouse is on the Medicare Supplement Plan. If the spouse is on an active health plan, then he/she will be offered COBRA for up to thirty-six (36) months.

G.  Employee Assistance Program (EAP)

The EAP is a free confidential service that provides faculty with the resources they need to resolve personal problems that may affect their emotional health, well-being and work productivity. Examples of problems which may impact quality of work and/or home life, include, but are not limited to: alcohol/drug abuse, marital/family discord, stress and financial difficulties.

The University's EAP is provided through Anthem Blue Cross Blue Shield and is called Healthy Returns. The cost is paid entirely by the University. Faculty or anyone in his/her household may call Healthy Returns 24-hours a day, 7-days a week, toll-free at 1-800-346-5484.

An EAP counselor will put faculty in touch with a qualified clinician in the community who can help address problems and concerns. Faculty receive up to four free visits with a clinician. If further counseling is necessary after four visits, then EAP will coordinate the best and most affordable resources in the community.

H. Life Insurance

1.  Basic Life Insurance

2.  Voluntary Life Insurance

I.  Disability Insurance

1. Short-Term Disability

The University carries a Short-term Disability Benefits Plan, which will continue full salary payments to a disabled full-time faculty member for up to six months, whether the period of disability falls within a single academic year or is extended into a second academic year. Such payments will not exceed the amount that the faculty member should have received for the academic year had he/she not become disabled. If a disability occurs while a University of Richmond faculty member is teaching in the summer program, he/she will receive his/her contract salary for that term. This policy does not apply to visiting professors, lecturers, or new faculty who have been employed for less than one year. In cases not covered by this policy, the Provost will have discretion. 

2.  Long-Term Disability

J.  Worker's Compensation

1. Coverage
All faculty members paid through the University payroll system are covered by the provisions of the Worker's Compensation Act. The Worker's Compensation Law for the State of Virginia provides compensation coverage for employees absent due to on-the-job injuries, as well as approved medical care, subject to qualifying conditions of the law. The Worker's Compensation program is coordinated by the Department of Environmental Health and Safety Services. It is the responsibility of the University's Worker's Compensation Insurance carrier to interpret the law and to approve or deny claims accordingly. Contact the Department of Environmental Health and Safety Services at (804) 289-8824 for the Panel List of Physicians. Or, access this information on-line at http://oncampus.richmond.edu/administration/safety/.

2. Cost
Paid entirely by the University.

3. Application
Accidents or injuries must immediately be reported to the faculty member's department head or supervisor. The Department of Environmental Health and Safety Services must be contacted for physician and hospital referral; and must be advised immediately by telephone or fax. Any medical treatment must be received from the Approved Panel List of Physicians. It is the supervisor's responsibility to relay the appropriate information on the First Report of Injury Form to the Department of Environmental Health and Safety Services within twenty-four (24) hours of the accident. The University will continue to pay for the first seven (7) days of lost time due to a Worker's Compensation injury.

4. Return to Work Policy
The health and well being of each faculty member is of great importance and concern to the University. In most cases, when a faculty member is injured at work, he/she is released by his/her physician to return to work without restrictions. However, there are times when a faculty member is unable to return to normal activities immediately following an injury. In those cases, the University will make every effort to provide the faculty member temporary modified duty in an effort to assist him/her in recovery to pre-injury status. Please refer to the Environmental Health and Safety Services office for complete information at (804) 289-8824, or by fax at (804) 287-6813.

K.  Social Security

All faculty participate in the federal Social Security system through equal contributions that are made by them (through payroll deduction) and by the University. Contributions are made at the rate of 6.20% on earnings up to the Social Security Taxable Wage Base for Social Security and at the rate of 1.45% on all earnings for Medicare Hospital Insurance. In addition, the University matches the faculty member's contributions, which are then deposited into his/her social security account.

L.  Travel Insurance

1. Administered by
The Department of Environmental Health and Safety Services.

2. Coverage
Up to $100,000 for accidental death while traveling on University business (e.g.: automobile, airplane, etc.). This is subject to the qualifying conditions of the policy.

3. Cost
Paid entirely by the University.

4. Enrollment
Enrollment is automatic upon employment.

M.  Unemployment Insurance

All faculty members are covered with Unemployment Compensation benefits under the current provisions of federal legislation and the Commonwealth of Virginia.

N.  Section 125 Flexible Benefits Plan

1. Definition
Section 125 of the Internal Revenue Code allows faculty to convert taxable salary into non-taxable benefits. Faculty may choose to pay for qualified benefits with "before tax dollars", rather than "after tax dollars", thereby, paying less in taxes and having more spendable income.

2. Coverage
The following benefits qualify for pre-tax treatment:
·  Dependent Care Reimbursement - covers eligible dependent care expenses up to a limit of $5,000 annually
·  Group Dental Plan Premiums - covers premiums for dental coverage faculty elect which requires a payroll deduction
·  Group Medical Premiums - covers premiums for health insurance coverage faculty elect which requires a payroll deduction
·  Medical Reimbursement - covers eligible out of pocket medical expenses up to a limit of $5,000 annually
·  Short-Term Disability Plan Premiums - covers premiums for income protection for lost time due to accident and sickness.

3. Cost
Administrative fees paid entirely by the University.

4. Enrollment
Full-time faculty are eligible to participate beginning as early as his/her start date or the date the enrollment form is signed, whichever is later. In order to participate, faculty must submit a completed enrollment application to the Department of Human Resource Services within thirty-one (31) days of his/her hire date.

Unless a qualifying condition is met, enrollment in this plan cannot be changed during the calendar year in which the election is made. The University has an open enrollment period each year. Current faculty must re-enroll in this plan every year during Open Enrollment. If an application is received during Open Enrollment, then the plan will be effective on January 1st of the next calendar year.

O.  Pre-Paid Legal Care Plan

1. Coverage
The Pre-Paid Legal Care Plan provides a variety of legal services with the cost of the attorney fees fully covered by the faculty member's monthly premium. There are no additional fees for those basic covered services. In addition to the basic services, other legal consultations and services are covered at a discount to faculty.

2. Cost
Premiums are paid entirely by the faculty member through payroll deduction.

3. Enrollment
Full-time faculty are eligible to enroll during two specified open enrollment periods. However, coverage does not begin until faculty complete an application for enrollment. Failure to comply with this requirement negates the eligibility to participate until the next Open Enrollment for this benefit occurs. Once enrolled, faculty must remain in the plan for a period of no less than twelve (12) months.

P.  Family and Medical Leave Act (FMLA) of 1993

Under the FMLA, eligible faculty may be permitted to take up to a total of twelve (12) weeks of paid and/or unpaid job protected leave in a twelve (12) month period to attend to a serious personal medical condition(s) and/or to attend to qualifying family members. The twelve (12) month period is a "rolling back" period based on the initial date of the qualifying event. In addition, FMLA is used for the birth, adoption or state placement of a child. FMLA is an approved leave.

1. Reasons for Leave
Leave may be taken for the following reasons:
·  Due to a serious health condition that causes the faculty member to be unable to perform the essential elements of his/her job.
·  To care for the faculty member's child after birth, adoption or state placement of a child with the faculty member for foster care. Should both parents be employed at the University, the leave allowed is a total of twelve (12) weeks for both parents, not twelve (12) weeks each. All leave following the date of birth or placement must be taken within twelve (12) months following the event. Time off must be taken in consecutive days or weeks. No intermittent leave is available for birth, foster care placement or adoption events.
·  To care for the faculty member's spouse, child or parent who has a serious health condition.

2. Eligibility
In order to qualify, faculty must have been employed by the University for at least twelve (12) months and must have worked 1,250 hours in the previous twelve (12) months. Paid and unpaid leave as well as hours paid under Worker's Compensation are not counted towards the 1,250 hours requirement.

3. Notice Requirement
Faculty must provide the University with thirty (30) days notice if the absence is foreseeable. If the request for the leave of absence is not reasonably foreseeable, then faculty must notify the University as soon as possible. Any failure to give a timely notice may cause the leave to be delayed.

4. Medical Certification
Faculty must provide the University with certification from a health care provider of his/her serious health condition, or the family member's, requiring the leave. Faculty must provide such certification fifteen (15) days in advance of taking leave or the leave may be delayed or denied. A certification form will be provided by the Department of Human Resource Services.

Should the University disagree with the opinion given by the faculty member's health care provider, the University reserves its right to require opinions from second or third health care providers at the University's expense.

Faculty may be required to furnish the University reports on status, intent to return and re-certification of the serious health condition at thirty (30) day intervals.

5. Paid/Unpaid Leave
If the FMLA is taken for the faculty member's own serious health condition, he/she will be paid following the short-term disability guidelines. If the FMLA is taken for a family member the leave will be taken as leave without pay. Regarding maternity leave, faculty may only use short-term disability for the time that she is under a doctor's care.

6. Medical Insurance Continuation
While on FMLA, the University will continue to pay the Employer's share of medical insurance premiums under the group plan and faculty must continue to pay his/her share in order to maintain coverage under the plan. Failure to pay premiums will result in a lapse of coverage. If the faculty member fails to return at the end of the twelve (12) week leave, then he/she will be liable to the University for the Employer's share of the health care premiums, which has been paid by the University during the twelve (12) week period.

In addition, while not required by the Act, the University will continue Long-Term Disability and Life Insurance benefits for covered faculty who are on FMLA leave.

Tuition Exchange is a competitive process and exchange is not automatically guaranteed upon admittance to a participating college or university.

1. Tuition Exchange, Inc.

Tuition Exchange, Inc., which has 580+ members, is the largest of the two exchange programs. There are currently 580+ member schools. Eligibility for sponsorship by the University is based upon the previously outlined requirements for tuition remission as well as the Employee's seniority in length of service and the dependent's admission to and award of scholarship from the other institution.  To be eligible for Tuition Exchange, dependents must be unmarried and age 23 or under.

Each member institution sets its own criteria for awarding scholarships and is limited by the need to keep its imports and exports in balance.

2. Associated Colleges of the South

The University of Richmond participates in a tuition exchange program with fifteen of the members of the Associated Colleges of the South. The program is available to dependents of eligible full-time staff at each institution. The student must also apply for admission through the admissions office of the other institution and must be granted admission before being considered for a tuition exchange scholarship. The number of ACS tuition exchange awards available is determined by each institution's number of imports and exports each year. The program policies, guidelines and annual participation fee ($1,500 payable by the student) are reviewed each year and are subject to change periodically.

Participating ACS member institutions are:

• Birmingham-Southern College
• Centenary College
• Centre College
• Furman University
• Hendrix College
• Millsaps College
• Morehouse College
• Rhodes College
• Rollins College
• Southwestern University
• Spelman College
• Trinity University (Texas)
• University of Richmond
• University of the South
• Washington and Lee University

Application for exchange should be made through the Business and Finance Office as early as possible in the fall semester of the dependent's senior year in high school. Students must also independently apply for regular admission through each college or university's admissions office. Eligibility for dependents of staff will be verified through the Department of Human Resource Services.

Note:   A third program, The Inter-University Faculty/Staff Dependent Tuition Scholarship Program, has been inactive for over ten years.  Faculty and staff will be notified if this situation changes.

For further information visit http://businessoffice.richmond.edu/tuition/or contact the Coordinator of Tuition Exchange Programs, (804) 289-8150, in the Office of the Vice President for Business and Finance

S.  Same Sex Domestic Partner Benefits

See Human Resources web pages for Same Sex Domestic Partner Benefits Policy