Portland State University Foundation Benefits at a Glance

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1 2015 Portland State University Foundation Benefits at a Glance

2 Why PSU Foundation is a Great Place to Work Welcome to Portland State University Foundation! We offer a competitive benefits package to promote work/life balance and overall wellness. Each of the following categories will provide a brief description of the benefits plans offer to you as a PSU Foundation employee. Health & Well-Being 2 Page Income Protection & Financial Savings 2-3 Work/Life Balance Benefits 3-5 Note: This benefit analysis is meant to show the highlights of each plan only, and does not constitute a contract nor represent all the provisions of the plan. Please refer to the specific carrier s contract/materials for additional benefit details, limitations and exclusions. 1

3 Health and Well-Being We offer a comprehensive health and wellness program. Eligible employees include regular full time employees working at least 30 hours per week and their dependents. Medical Effective the first of the month following or coincident with date of hire. We offer a Regence BlueCross BlueShield of Oregon medical plan: Foundation covers 95% of the premium for all enrolled employees and their eligible dependents. Preferred Provider Organization (PPO) Deductible of $250/member, $750/family Includes prescription and VSP vision coverage Dental Effective the first of the month following or coincident with date of hire. We offer a choice of two Dental plans: Moda (formerly ODS) Health Premier Option Indemnity Plan o Maximum annual benefit of $1,500 o Deductible of $50/member, $150/family o Orthodontia excluded Willamette Dental Group Plan o No maximum annual benefit o No deductible o Orthodontia included Income Protection and Financial Savings PSU Foundation provides benefits to its employees and their families that protect and support them if they are faced with unforeseeable events, such as illness, injury, disability or death. Eligible employees include regular full time employees working at least 30 hours per week and their dependents. Life Insurance Effective the first of the month following or coincident with Unum basic group term life and accidental death and dismemberment (AD&D) benefits Provides beneficiary with a benefit of 2x your annual salary to a maximum of $350,000 following death and scheduled benefits if you are dismembered due to an accident (some restrictions apply). Provides life planning financial and legal resources 2

4 Retirement Plan 401(a) and 401(k) plans available through Fidelity. PSU Foundation contributes 12% of employee s salary with 3% vested immediately. The remaining 9% will vest over five years from The Foundation s contribution is effective following 6 months of employment with quarterly entry dates. Long Term Disability Effective the first of the month following or coincident with No cost to employees. Unum program wherein employees receive 66 2/3% of their basic weekly earnings for recovery or through their normative retirement date (whichever is earlier). Monthly benefit up to a maximum of $10,690. Begins after 90-days of continuous disability. Short Term Disability Effective the first of the month following or coincident with No cost to employees. Unum program wherein employees receive 66 2/3% of their basic weekly earnings for up to 13 weeks for a maximum of 13 weeks. Weekly benefit up to a maximum of $2,500. Begins the first day of an accident and eighth day of an illness. Full maternity benefits. Voluntary Cafeteria Plan Flexible Spending Accounts (FSAs) Voluntary Supplemental Group Term Life/AD&D Insurance Effective the first of the month following or coincident with Employees must enroll before 31 days from hire date, or the date the employee becomes benefits eligible. Allegiance plan wherein employees elect to contribute pre-tax dollars to an account from which they are reimbursed for qualified healthcare and/or dependent care expenses. Effective the first of the month following or coincident with Extends to employees, spouse/domestic partner and children. Work/Life Balance Benefits PSU Foundation encourages employees to keep learning, take care of themselves and their families, enjoy life, and be actively involved in the communities where they live and work. Eligible employees include regular full time employees working at least 30 hours per week. 3

5 Employee Assistance Program (EAP) Unum Work-Life Balance EAP. No cost to employees and extends to all employees. Provides employees and their family members support in managing issues from both work and home with confidential counseling services. Includes will preparation services. Support on a wide variety of issues. Holiday Pay Paid holidays will be granted to regular full-time employees who work 30 or more hours per week. Employees working between 30 and 39 hours will receive prorated holiday pay. Holidays include the following: o New Year s Day o Martin Luther King s Birthday (third Monday of January) o Memorial Day (last Monday in May) o Independence Day on July 4 o Labor Day on the first Monday in September o Veteran s Day on November 11 o Thanksgiving Day on the fourth Thursday in November o Friday after Thanksgiving o Christmas Day on December 25 o One additional day may be granted around the calendar year-end at the discretion of the President/CEO. Transportation Parking and bus passes are offered to employees at a discounted rate provided through PSU s Parking and Transportation Services. Jury Duty/ Witness Leave Personal Time Off (PTO) Employees will be compensated the difference between their civic pay received and regular rate of pay for up to two weeks. The Foundation offers employees a Paid Time off (PTO) program to allow employees the opportunity to take time away from work for vacation, sick leave, personal leave, additional bereavement leave and family medical leave. All regular employees working 30 hours per week or more are eligible for PTO accrual. Full-time employees accrue PTO hours according to the schedule listed below. Employees scheduled to work hours per week will accrue PTO on a pro-rated basis based on actual hours worked. Accrual begins on the first day of regular employment. PTO cannot be taken until the introductory period of 60 days has been successfully completed. Continued 4

6 Paid Bereavement Additional Benefits Length of Service in months Annual PTO Hours Accrued Monthly Accrual Rate in hours Non-Exempt employees 1-60 (1-5 yrs.) 216 (27 eight hour days) ( (30 eight-hour days) yrs.) ( (33 eight-hour days) yrs.) ( (36 eight-hour days) yrs.) (20+ yrs.) 312 (39 eight-hour days) 26 Exempt employees 1-60 (1-5 yrs.) 272 (34 eight-hour days) (5-10 yrs.) 296 (37 eight-hour days) (10+ years) 312 (39 eight-hour days) 26 Three days of bereavement leave at an employee s regular rate of pay, up to eight hours per day. Employees will receive the following at the same rate as University employees: o PSU identification cards. o PSU parking. o Tri-met transportation. o PSU recreation and fitness programs. o PSU Millar Library access. o Admittance to athletic events. o Preferential access to the Helen Gordon Child Development Center. o Tuition benefit at Portland State University (PSU only). 5