UNIVERSITY OF KENTUCKY College of Medicine - Faculty Benefits

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1 Accidental Death and Dismemberment Benefits Regular full-time employee Optional $10,000-$500,000 in $5,000 increments Married spouse 50% of your benefit (up to a maximum of $250,000) per child 10% of your benefit (up to a maximum of $15,000 per chil If unmarried spouse Per child 25% of your benefit (up to a maximum of $15,000 per chil. Dependent children are eligible until age 26 If enrolled in the Federal Employees Group Life Insurance (FEGLI) employees are eligible for the amount of the Basic life insurance and the Standard Option. AD&D rider on Group Term Life product $500,000 up to 70 th birthday $325,000 up to 75 th birthday $250,000 for age 75 and over Dental Insurance Employee Educational Program* *Refer to Policy #51.0 ( Staff Personnel Policy & Procedur Available to all employees with an assignment of at least.20 FTE and sufficient earnings to make necessary premium payments. Employee benefits offered to sponsored dependents. Contact UK HR for details. Dependent Eligibility Your spouse Your dependent children up to age 26 Sponsored dependent Dependent children of sponsored dependent, up to age 26 Employees are responsible for the entire cost of the dental plan. Dental Care Plan Options UK Dental Basic UK Dental Comprehensive Delta Dental Basic Plan Delta Dental Enhanced Plan Regular full-time employee may take up to 18 credit hours per year: Spouse, Sponsored dependent and dependents of regular, full-time employees with more than 1 year of service are eligible to receive discounted tuition and mandatory fees ranging from 10% - 50% for undergraduate classes taken at U.K. Dental available under several plans Additional Dental Plans available under FEDVIP Program GEHA Met Life United Concordia Humana/Comp Benefits Aetna Delta Dental FEP Blue Dental Delta Dental paid by K.M.S.F. for full-time clinical faculty. KMSF administers a tuition support program for qualifying dependents of UK CoM Faculty, which provides up to the current UK in-state tuition rate per semester for up to 8 undergraduate semesters. (see Program s Summary Description for more details) If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 1 of 8

2 Family Medical Leave Must be employed for 12 months 12 weeks of leave during 12-month period for qualified reasons. Specific requirements and procedures are listed in the Family and Medical Leave Policy, AR II-1.0-5, B.,4. Provisions for Family Medical Leave in accordance with policy. Flexible Spending Accounts Health Care and Dependent Health Care Flexible Spending Accounts are administered by ASI. Dependent Care Account tax-free savings for dependent care expenses. - Minimum amount $500 - Maximum Amount $5,000 (maximum amount may be lower if spouse also participating in plan) Medical Spending Account tax free savings for eligible health, dental and vision care expenses for you and your eligible dependents - Minimum amount $250 - Maximum amount $2,500 - Debit card available - $500 rollover provision Health Care and Dependent Care administered by FSAFEDS. Maximum is $5,000 for dependent care and $2,550 for health care per calendar year tax free Holidays Life Insurance 12 DAYS: New Year s Day; Martin Luther King, Jr. Day; Memorial Day; 4th of July; Labor Day; Thanksgiving, floating holiday, Christmas; and 4 (Bonus Days) during December 25- January 1. Regular full-time employee One times your annual base salary paid by the University, capped at $1,000,000. Medical evidence of insurability is required for basic coverage in excess of $750,000. Optional life insurance coverage may be purchased in amounts of 1, 2, 3, 4, or 5 times your annual base salary, capped at $1,000,000. Medical evidence of insurability is required for amounts in excess of $375, DAYS: New Year s Day; Martin Luther King's Day; President s Day; Memorial Day; Independence Day; Labor Day; Veteran's Day; Columbus Day; Thanksgiving; Christmas Regular Full-time or part-time employees Basic (Term) Option of Purchasing Base Salary + $2,000, Rounded to Next 1,000 Cost 15 cents per thousand If enrolled for Basic life insurance employee is eligible for additional optional insurance with various rates depending on age and election choice: Standard Option $10,000 coverage Additional 1 to 5 times salary Dependent Life Insurance Children covered until age 22. Family Coverage Group Term Life at no cost $500,000 up to 70th birthday $325,000 up to 75 th birthday $250,000 for age 75 and over IRS regulated cost of coverage included as W-2 income. If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 2 of 8

3 up to $25,000 on spouse and Long Term Disability *Cost of Living adjustments not provided by either UK, or KMSF Policy Medical Insurance The University provides long-term total disability income protection for regular fulltime faculty who has completed 12 months of service. Coverage is automatic. Once service requirement has been met, this plan insures that employees who are approved for LTD receive a percentage of their salary as described below. Any income a disabled employee and/or dependent receives from any of the following sources: social security, workers compensation or other similar government programs, veterans or other governmental disability payments, or other employer sponsored disability benefits is used in the benefit calculation. The University will pay the percentage less any amounts received from the preceding sources. Months 1-6 = 100% of salary Months 7- end of benefit = 60% of salary Available to all employees with an assignment of at least.20 FTE and sufficient earnings to make necessary premium payments. Dependent Eligibility Your spouse Your dependent children up to age 26 Sponsored dependent Dependent children of sponsored dependent, up to age 26 Employee benefits offered to sponsored dependents. Contact UK HR for details. UK provides the following credit per month for employees working 0.75 FTE or more in one or multiple assignments; or averaging 30 hours per week or more over a 12 month measurement period. (Premiums vary depending on insurance carrier) Single -- $471 Employee & Child/children -- $613 Employee & spouse/partner -- $735 If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 3 of 8 up to $12,500 on children until age 22. Disability Retirement (application required and approval by Office of Personnel Management) Civil Service Retirement System Individuals employed under the Civil Service Retirement System are eligible for Disability Retirement after 5 years of civilian service. Benefits are calculated and the individual receives the largest of the 40% of high-3 average pay or an annuity computed under the general formula (years of service X high-3 salary). Federal Employees Retirement System Individuals become eligible after 18 months of civilian service. Benefits are calculated for the 1 st year of disability at 60% of high-3 average pay minus (-) 100% of Social Security Disability Benefit. 2 nd year and following until 62, 40% of high 3 average pay minus (-) 60% of Social Security Disability Benefit. At age 62 recomputed using general formula. The University of Kentucky provides no Long Term Disability benefit for VA Salary. U.S. Government pays a percentage of the cost of plan, pre-set by the OPM, Washington, DC Various Medical Insurance - Aetna Value Plan - American Postal Workers Union - Blue Cross/Blue Shield - Government Employees Health Assoc. - Mail Handlers - National Assoc. of Letter Carriers - Aetna Consumer Driven Plan - Humana HMO - Humana Consumer Driven Plan - APWU Consumer Drive Plan - GEHA High Deductible Plan - Mailhandlers High Deductible Plan - SAMBA Staff contributes 1.45% of bi-weekly gross to Medicare. VA matches with 1.45%. f) Covered on first day of employment. Benefits: 60% of monthly gross salary to maximum of 15,000 Pension Supplement 15% of Predictability earnings to TIAA/CREFF Retirement Plan No Offsets for Social Security Own Specialty specific, or unable to earn 80% of salary. Six-month waiting period. This is a fully-insured insurance product. Specific questions concerning this coverage should be referred to the broker or carrier.

4 Family -- $862 Health Plan Options are: UK HMO and UK RHP UK PPO UK EPO Tax deferred option available (Premium Conversion.) Medical Malpractice Insurance Self Insured, K.R.S $1 Million per occurrence $3 Million annual aggregate Federal Government Insures UK is self insured of which K.M.S.F. contributes 56% If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 4 of 8

5 Miscellaneous f) g) h) i) j) k) Varsity Athletics--season tickets at 20% discount. Blood Donor Group Parking--$31.00/Mo for "E" sticker can apply for reserve parking. Athletic Facilities Credit Union Spindletop Hall Hilary J. Boone Faculty Club University Bookstore--10% Discount Military Leave - 10 days/year with pay for National Guards or Reserves Paid leave for Jury Duty. UK Health & Wellness Program Rewards Program Telephonic Health Improvement Programs BeHIP o Weight Management o Nutrition o Physical Activity o Stress Management o Cholesterol Management o Blood Pressure Management o Back Care o Tobacco Cessation f) g) h) Uniforms and Laundry Blood Donor Programs Paid Leave for Jury Duty Sponsored Lectures Workshops, Symposiums Military Leave hours per year Reserve Duty for full-time. Part time is pro-rated. Flexible spending account. Long-term care insurance l) On-site Fitness Facilities Nutrition Consultations Weight. Loss Programs Health Screenings Walking Programs Therapeutic Chair Massage Employee Assistance Program expanded counseling services Miscellaneous Leave of Absence Requires Provost approval for up to one month with pay for special purposes. Requires approval of the Board of Trustees for more than 30 days LWOP - up to 30 days approved by Service Chief LWOP in excess of 30 days approval of Director required NTE 1 calendar year Retirement Plan Employees hired as of January 1, 2013 or after will have a 3 year cliff vesting on retirement contributions that UK has made to your Mandatory 403b plan (the employer s 10% match). If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 5 of 8 I. FERS Employed on or after 1/1/ tier plan Social Security Benefits 6.2% contributions Medicare FERS Basic Benefit Employee contributes The retirement benefits listed under the University of Kentucky column apply to your base salary, the source of which may consist of state, grant and KMSF funds. The funding source of the 10% retirement

6 Retirement Plan (Con t) The University's retirement program utilizes TIAA-CREF and Fidelity Investments as retirement plan carriers. Both carriers offer best in class, non-proprietary funds in the core investment (tier 2) lineup as well as (tier 1) Lifecycle funds. Employees hired prior to July 1, 2015 will have access to tier 3 investments as well tiers 1 and 2. Faculty contributes 5% of base salary and University contributes 10% of base salary once vested. Allocation of premiums can be distributed amongst the above listed carriers. 4.4% of biweekly gross to FERS Basic annuity is 1 1.1% of high-three salary x years of service TSP voluntary contribution up to $18,000 per year (+ 6,000 catch-up contributions for employees 50 and older). Matching for first 5% of individual contributions (1% automatic agency contribution, matching for next 3% and.5 for the next 2%) Tax deferred and/or Roth options are available. Eligibility for Retirement Age: MRA* MRA* Years Svc.: 10** contribution is prorated based on your distribution of effort (DOE). KMSF is the funding source for the 10% retirement contribution toward the KMSF portion of your salary. IRS limits apply to all income received. Retirement income based on value of the account invested with various investment carriers. Voluntary contributions may be made over and above the required amount. Taxdeferred contributions may be made to a 403( and/or 457( retirement plan. After-tax contributions may be made to a Roth 403( and 457( accounts. Also, some employees not eligible to participate in the basic plan may make contributions to the voluntary account on a pre-tax basis or to the after-tax Roth plans. II. * Minimum Retirement Age (55-57 depending on birth dat ** Reduced Benefit CSRS EMPLOYED PRIOR TO 12/31/83 Staff contributes 7.0% of bi-weekly gross to Civil Service Retirement. CSRS benefit is 1.5% - 2.0% of high-three salary multiplied by number of years of service. Eligibility for Retirement Age: Years Svc.: f) Phased Retirement Plan available for regular full-time employees who have 15 years of regular full-time service and who are age 60 or older. Sabbatical Leave Faculty must be appointed in Regular or Special Title Series Requires Presidential approval After three years of continuous eligible service, an appointee may apply for six months leave at one-half salary. After six years of continuous eligible service, an individual may apply for one year s leave at one-half salary or six months leave with full salary. Privilege not a right. After 6 calendar years of service an individual can apply VA Headquarters approval required Maximum benefit is 6 months of full pay and 6 months LWOP (part-time service is prorated to full time equivalent) UK and/or VA only if sabbatical approve Applicable. Portion of total salary determined By each Departmental Practice Plan. If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 6 of 8

7 Social Security Temporary Disability Leave Full Participation 5.65% employee 5.65% employer Two component parts: OASDI, 7.65%, applies to wages up to $118,500 for 2015 Medicare, 1.45%, applies to all wages. The Provost can grant six months temporary disability leave Full Participation ONLY for individuals employed after December 31, % by employees 7.65% by employer (Figures include Medicare coverage, 1.45%). 13 days sick leave per year. (full tim Accrual unlimited 1 hour earned for every 20 hours worked (part-tim Unemployment Insurance Eligible Eligible Vacation For 10, 11, 12-Month assignment basis, 22 working days with pay per academic year. Vision Option Available to all employees with an assignment of at least.20 FTE Dependent Eligibility - Your spouse - Your dependent children up to age 26 - Sponsored dependents - Dependent children of sponsored dependent, up to age 26 Employees are responsible for the entire cost of the vision plan. Two plans available through EyeMed Vision: Essential and Enhanced. 26 calendar days per year (full-tim Accrual to 84 days. 1 hour earned for every 10 hours worked (part-tim Eligible Vision Plans available under FEDVIP Program. Blue Cross Blue Shield United Healthcare Vision Vision Service Plan (VSP) KMSF portion of salary included In University participation. Employers share pro - rated. Worker s Compensation Eligible Eligible Dependent Life Insurance Available to all Regular Full-time employees Dependent Eligibility - Your spouse - Your dependent children up to age 26 - Sponsored dependents Dependent life insurance coverage may be purchased in amounts of $10,000 or $15,000 or $20,000. If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 7 of 8

8 Employees are responsible for the entire cost of the dependent Life plan March 8, BENEFIT SUMMARY doc If a faculty member is eligible for VA benefits, please contact the Human Resources Management Service Office. ( ext 3477) Page 8 of 8