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Benefits Summary

Group Medical, Dental, Disability, and Life Insurance

A basic five-part package insurance plan through Deseret Mutual Benefit Administrators is available for personnel and their spouses and eligible dependent children to age 26. Personnel must be hired into a full-time eligible classification to qualify for employer sponsored medical, dental, and/or life insurance through Deseret Mutual. These eligible classifications are: Full-time Staff, Full-time Administrative Staff, Full-time Regular Faculty, Visiting Full-time Faculty, Research Associate, Research Staff, and Post-Doctorate Fellow. The university pays a substantial portion of the monthly premium. The exact amount varies with the plan selected. The plan includes coverage in the following areas:

Medical Insurance Four medical insurance plan options are available with varied plan designs, coverage, and premiums.

Dental Insurance Two dental plans are available with varied plan designs, coverage, and premiums.

Group Term Life (GTL) Insurance Coverage for the employee is $50,000. For active employees, coverage reduces at age 65. The employee's spouse and dependent children are also provided a small amount of life insurance coverage of $2,000 under this policy.

Occupational Accidental Death and Dismemberment Insurance (Employee coverage only) Coverage is provided if the employee dies or is dismembered as a result of an accident that ocurs while actively on the job.

Long-Term Disability Income (Employee coverage only) Coverage provides an amount of income protection if the employee is temporarily, partially, or permanently disabled.

Supplemental Insurance

The following programs are available to provide additional insurance coverage for personnel and their spouses and dependent children. If selected, the total premium is paid by the participant.

Supplement Group Term Life Insurance (SGTL)

You must be enrolled in GTL to apply for SGTL. You may also apply for coverage for your spouse and eligible dependents whether you are enrolled in SGTL or not. Your spouse and eligible dependents do NOT have to be enrolled in basic life insurance to be eligible for supplemental coverage. You must meet the health standards of the plan to be eligible for coverage. If you enroll your spouse and/or eligible dependents for SGTL within 30 days of your hire date and they do not meet the health standards, they are guaranteed the minimum amount of $3,000.  After the 30 days, this guarantee is no longer in effect. (The policy does not take effect until approved by Deseret Mutual.)

You may purchase SGTL for yourself based on your income level (up to six times your annual salary). Premiums are calculated based on your age and the amount you choose to purchase. To find your income level use your annual salary and round it up to the next $10,000. For example, if your annual salary is $47,000, your income level would be rounded up to $50,000.

You may purchase SGTL for your spouse based on the following amounts and calculated according to the age of your spouse:

  • $3,000
  • $20,000
  • $40,000
  • $60,000
  • $80,000
  • $100,000
  • $120,000
  • $140,000
  • $160,000
  • $180,000
  • $200,000

 

Use the chart to calculate your monthly premium for SGTL

SGTL PREMIUMS EFFECTIVE APRIL 1, 2014

Age as of
April 1

Amount Per $1,000

Age as of
April 1

Amount Per $1,000

Age as of
April 1

Amount Per $1,000

< 35

$.032

44

$.062

54

$.150

35

$.032

45

$.068

55

$.168

36

$.034

46

$.074

56

$.188

37

$.036

47

$.082

57

$.208

38

$.038

48

$.090

58

$.232

39

$.040

49

$.098

59

$.258

40

$.042

50

$.106

60 to 64

$.360

41

$.046

51

$.116

65 to 69

$.632

42

$.050

52

$.126

70 to 74

$1.063

43

$.056

53

$.136

75 +

$1.688

You may purchase SGTL for your eligible children for the following amounts: $3,000, $7,500 or $15,000.  Premium charged is a flat rate for all children combined, not individually.

OPTION

1

2

3

Live Birth - 6 Months

$1,000

$1,000

$1,000

6 Months - 26 Years

$3,000

$7,500

$15,000

Premium

$0.44

$0.96

$1.74

Premium calculation example:

Employee:

Age 37

Spouse:

Age 36

Children:

Unlimited

Number

Salary:

$46,000

Salary:

N/A

Salary:

N/A

Supplemental:

$50,000 x 6 = $300,000

Supplemental:

$180,000

Supplemental:

$15,000

Rate:

300 x 0.036

Rate:

180 x 0.034

Rate:

N/A

Premium:

$10.80

Premium:

$6.12

Premium:

$1.74 (flat fee for any number of children)

TOTAL PREMIUM: $18.66

Note: Personnel on a J-1 Visa are required to enroll their spouse and eligible dependent children for SGTL for at least the $3,000 level if the spouse and dependent children are residing in the United States.

24 Hour Accidental Death and Dismemberment Insurance

You are eligible to enroll in this insurance even if you do not enroll in the Core Benefits. 24 Hour Accidental Death and Dismemberment Insurance provides protection for accidents that result in the loss (or loss of use) of the following: life, limb, (including hands and feet), vision, and/or voice. Your coverage begins the first of the month after Deseret Mutual has approved your application. To collect this benefit, the loss must be the direct result of an accidental injury, be independent of all causes other than the accident, and be filed within 90 days of the date of the original accident.

24-HOUR AD & D PREMIUMS

 

 

 

SINGLE EMPLOYEE PLAN

FAMILY PLAN WITH CHILDREN

FAMILY PLAN WITHOUT SPOUSE

Employee Coverage & Principle Sum

Monthly Cost

Employee Coverage & Principle Sum

Spouse Coverage

Coverage for Each Child

Monthly Cost

Employee Coverage & Principle Sum

Coverage for Each Child

Monthly Cost

 

 

 

20,000

0.48

20,000

8,000

1,000

0.68

20,000

3,000

0.64

30,000

0.72

30,000

12,000

1,500

1.02

30,000

4,500

.96

40,000

.96

40,000

16,000

2,000

1.36

40,000

6,000

1.28

60,000

1.44

60,000

24,000

3,000

2.04

60,000

9,000

1.92

80,000

1.92

80,000

32,000

4,000

2.72

80,000

12,000

2.56

100,000

2.40

100,000

40,000

5,000

3.40

100,000

15,000

3.20

120,000

2.88

120,000

48,000

6,000

4.08

120,000

18,000

3.84

140,000

3.36

140,000

56,000

7,000

4.76

140,000

21,000

4.48

160,000

3.84

160,000

64,000

8,000

5.44

160,000

24,000

5.12

180,000

4.32

180,000

72,000

9,000

6.12

180,000

27,000

5.76

200,000

4.80

200,000

80,000

10,000

6.80

200,000

30,000

6.40

300,000

7.20

300,000

120,000

15,000

10.20

300,000

45,000

9.60

400,000

9.60

400,000

160,000

20,000

13.60

400,000

60,000

12.80

Vision Service Plan (VSP)

Vision Service Plan (VSP) is a vision protection plan to help reduce the cost of glasses and/or contacts. Coverage is optional and you pay the entire cost of the monthly premium in addition to your regular medical premium. There are two plans you can enroll in: Basic and Premium. The Basic plan covers frames, lenses, and/or contacts. The Premium plan includes all the Basic plan coverage plus a covered eye exam each year at no cost.

The level of coverage for VSP must match the medical insurance level of coverage. For example, if you have family medical coverage, you must have family VSP coverage. VSP's contracted panel includes optometrists, ophthalmologists, opticians, as well as retail chain affiliate providers such as Costco, Shopko Visionworks, and other high quality retail chains. Using contracted providers will provide the greatest benefit. See the VSP website, www.vsp.com, for more details.

VSP is its own company and not part of Deseret Mutual or Altius. For questions regarding VSP, you must contact them directly at 1-800-877-7195.

Met Life Auto/Home (www.metpay.com)

This is a voluntary auto, home and personal property insurance program available to faculty, staff, and retirees of the university. Coverage is provided by Metropolitan Property and Casualty Insurance Company and its Affiliates. Quotes can be obtained for auto, home, and other MET LIFE coverages by calling 1-800-GET-MET1 (1-800-438-6381).

Liberty Mutual (http://libertymutualinsurance.com/)

Group Savings Plus is a comprehensive program from Liberty Mutual that features auto, home owners, renters and other personal insurance.  Coverage is provided by Liberty Mutual and its affiliates.  Quotes can be obtained by calling 1-800-526-1547 or online at http://www.libertymutualinsurance.com/.

PENSION PLAN

University personnel eligible prior to April 1, 2010
Multiplier = 1.5% Minimum retirement age 55 (at a reduced benefit)

University personnel eligible on or after April 1, 2010
Multiplier = .75% Minimum retirement age 60 (at a reduced benefit)

At retirement, payments are made monthly from the date of retirement and continue until the death of the retiree. Several two-life options are available at reduced amounts that guarantee lifetime income for a surviving spouse. Some of the payment options have guaranteed payment periods in addition to the life of the retiree and/or the surviving spouse. A lump sum may be paid at retirement in lieu of monthly payments if the present value of the monthly benefit is less than $15,000. University personnel should contact the Retirement Specialist in Benefits Services at 801-422-4486 at least four months prior to the planned retirement date to begin the retirement process. Retirement always takes place on the first day of the month following the month in which work was last performed.

SUPPLEMENTAL RETIREMENT PLAN

The University strongly encourages eligible personnel to participate in a supplemental retirement program. Supplemental savings programs are provided to assist in the financial preparation for retirement. Participation in supplemental retirement savings plans is subject to IRS rules and regulations, contribution limits, and withdrawal guidelines.

Deseret Mutual 401(k) Thrift Savings Plan Eligible university personnel may participate in the Deseret Mutual Thrift Savings Plan, which offers both pre-tax and after-tax savings options. The plan offers two after-tax savings options: Roth 401(k) and after-tax 401(a). The University will match contributions ranging from 1% to 6% depending on the level of participation and the eligibility date.

University personnel eligible prior to April 1, 2010

Employee Contribution Employer Match Total Contribution
1% 1% 2%
2% 2% 4%
3% 3% 6%
4% 3.5% 7.5%
5% or more 4% 9% or more

University personnel eligible on or after April 1, 2010

Employee Contribution Employer Match Total Contribution
1% 1% 2%
2% 2% 4%
3% 3% 6%
4% 4% 8%
5% 5% 10%
6% or more 6% 12% or more

Several withdrawal options are available after age 59 ½, disability, retirement, or termination. Specific information may be obtained from Benefits Services or Deseret Mutual. University personnel not eligible to participate in the Thrift Savings Plan include: student employees, MTC teachers, special administrative/staff assignment, and special academic appointments (post-doctoral fellow, research associate, research staff, adjunct faculty, retired faculty, visiting faculty, and continuing education faculty).

TIAA-CREF

All university personnel with the exception of student employees are eligible to participate in retirement savings plans through TIAA-CREF. Eligibility begins upon the hire date and there is no minimum age requirement. TIAA-CREF offers two supplemental retirement plans, 403(b) (before-tax), and a Roth IRA. The University does not match contributions to TIAA-CREF.

Loan Provisions The IRS restricts withdrawals from the before-tax funds. However, loan provisions allow access to the Deseret Mutual Thrift and TIAA/CREF plan savings while the participant is employed.

Social Security

All full-time BYU employees participate in the Social Security System. BYU and each employee contribute 7.65% of the employee's salary (up to the annual Social Security maximum). Social Security provides the following benefits to participants: retirement income, disability income, death benefit, and Medicare.

Flexible Spending Account

Deseret Mutual offers a program for a reserve spending account that allows a person to pay, with pretax dollars, some dependent day care and medical/dental expenses not covered by the employee benefit plans.

Educational Benefits at BYU Provo Campus

Regular full-time faculty, staff, and administrative personnel may register for up to a maximum of six credit hours per semester and will not be required to pay the cost of tuition. This benefit is applicable to regular undergraduate or graduate courses; however, graduate tuition may be taxable. Special approval is required for classes taken during normal work hours (7:00 a.m. to 5:00 p.m.).

Once personnel reach age 30, or complete five years of employment (whichever comes first), their spouse and dependent children may be eligible for tuition benefits. Spouses are eligible for a full tuition benefit, undergraduate or graduate, for an unlimited number of credit hours. Graduate credit hours taken by a spouse may be a taxable benefit. Dependent children are eligible for a half-tuition benefit for undergraduate work only, regardless of marital status. Benefits for dependent children cease when they receive an undergraduate degree, accumulate 152 BYU credit hours, or reach age 30, whichever occurs first.

Other Benefits

Vacation

New staff personnel accrue 3.69 hours of vacation for each pay period worked. Vacation time increases with length of time employed.

Administrative personnel accrue 14.67 hours of vacation for each month worked, resulting in the employee being credited for 22 days of vacation per year (176 hours).

Depending on arrangements made with their respective deans, faculty members may teach or use the spring and/or summer terms for vacation.

Holidays

The university grants several paid holidays each year (New Year's Eve, New Year's Day, Martin Luther King Day, President's Day, Memorial Day, July 4th and 24th, Labor Day, Thanksgiving and the day following, Christmas Eve and Christmas Day).

Sick Leave

Staff personnel accrue 3.69 hours of sick leave for each pay period. Administrative personnel accrue one day of sick leave for each month of service. Sick leave may only be used for illness of an employee and for an illness of members of the employee's immediate family living in the employee's home.

Additional Benefits

  • Use of University library
  • Time off due to death in the family
  • Bookstore discount
  • Parking permit issued in accordance with Traffic Office guidelines
  • Reduced rates on tickets to athletic and cultural events on campus
  • Identification card
  • Use of athletic facilities by full-time personnel and eligible dependents

University personnel and their immediate family members who receive ID cards agree to abide by the BYU Honor Code and Dress and Grooming Standards.

AttachmentSize
Medical - Deseret Choice.pdf921.25 KB
Medical - Deseret Select.pdf899.86 KB
Medical - Deseret Value.pdf922.4 KB
Dental - Deseret Dental.pdf320.98 KB
Dental - Deseret Dental PLUS.pdf331.24 KB
Disability.pdf281.08 KB
GTL - Basic.pdf124.62 KB
GTL - Supplemental.pdf157.18 KB
24 HR AD&D.pdf204.1 KB
MRP (Pension) - Hired after April 1, 2010.pdf315.08 KB
MRP (Pension) - Hired before April 1, 2010.pdf276.96 KB
Thrift Plan - Hired after April 1, 2010.pdf418.79 KB
Thrift Plan - Hired before April 1, 2010.pdf418.72 KB
Retirement Benefits Changes 4-2010.pdf233.87 KB

Updated by the HRS Web Team, Brigham Young University, Provo, UT 84602 - Copyright 2008. All Rights Reserved.