College of Dentistry Fringe Benefit Program
The College of Dentistry provides a broad and comprehensive fringe benefit program to eligible faculty members of the University of Florida. The program is financed by the Academic Enrichment Fund. The insurance programs are designed to protect against the economic effects of total disability, medical expense and death from accidental or natural causes. The retirement programs are planned to provide maximum financial security during retirement years.
Eligible participants for the Life and Accidental Death and Dismemberment programs include the following employees who must be appointed at .50 FTE or above: Full-time tenured, tenured track, clinical track and members of Faculty Associates Inc. of the College of Dentistry in active employment in the United States with the Employer.
Eligible participants for the Group Disability program include the following employees who must be appointed at .75 FTE or above: Full-time tenured, tenured track, clinical track and members of Faculty Associates Inc. of the College of Dentistry in active employment in the United States with the Employer.
Leave of Absence/Reduced FTE Eligibility
Faculty who have been employed by the College of Dentistry for one year or more may continue all fringe benefit programs during an approved sabbatical or Leave of Absence, not to exceed one year during an aggregate seven year period. Premium to be paid by the department.
In the case of total disability, benefits will be as follows: The disability insurance will continue through the payment of benefits (waiver of premium after the elimination period of 180 days). The life insurance will be continued by waiver of premium, if approved**, in the full benefit amount. If an employee has completed ten or more years of continuous service with the College of Dentistry, the policy will be the same as that provided for active employment.
** “If approved” means that a disabled employee will be approved for a waiver of premium if he/she meets the requirements of disability for life insurance (to meet the requirement an employee may not be capable of working in any occupation).
Level term group life insurance underwritten by The Standard Insurance Company provides $500,000 of life insurance for all covered employees at a 0.75 or greater FTE with an additional $150,000 in the event of accidental death and dismemberment. For employees between 0.74 and 0.50 FTE the Standard Life Insurance Company provides $100,000 of life insurance with an additional $50,000 in the event of accidental death and dismemberment.
When you reach the age range of 70 to 74, your life insurance and accidental death and dismemberment will be reduced to 65% of the full coverage amounts of $500,000 and $150,000. When you reach the age of 75 or older, your life insurance and accidental death and dismemberment will be reduced to 50% of the full coverage amounts of $500,000 and $150,000. Coverage begins on the first day of employment. Life insurance premiums paid by your employer for coverage over $50,000 is ordinary income to you. You must include the cost of the group term life insurance coverage of more than $50,000 in your income. The IRS requires the College to issue W-2′s at a rate based on the age of the insured. The W-2′s will be issued at the end of each calendar year.
This policy is underwritten by The Standard Insurance Company and is designed to offset the economic impact brought about by total or partial long-term disability. The benefits as set forth under this policy will begin after the insured’s sixth month of total or partial disability. The maximum benefit period due to sickness is based on your age at the time of disability. The monthly income benefit is equal to 60% of the monthly salary to a maximum of $15,000 per month. There is no offset until benefits from The Standard Insurance Company, Social Security, Worker’s Compensation, the Teacher’s Retirement System or any other group disability compensation exceed 70% of the monthly salary, in which case The Standard Insurance Company benefit is reduced to a level equal to 70% of the monthly salary. Cost of Living Adjustment rider is included.
State of Florida Optional Retirement Plan
Faculty appointed after July 1, 1989 participate in the State University System Optional Retirement Program (SUSORP). Participation in the SUSORP continues unless the employee’s job status changes such that participation in the FRS becomes mandatory. The current administrative cost of this plan is 2.2% and will be deducted from the employer contribution of 7.34%. You are required to contribute 3% and you may voluntarily contribute up to 5.14% of your salary. Participation in other employee benefit plans may be available at low rates through the University and Veterans Administration with maximum availability depending upon age and salary. In addition to the annuity program described above, a variety of voluntary 403b annuity investment options are also available through State of Florida payroll deduction.
Annual leave is provided for twelve-month faculty. This leave should be taken when it is necessary for a faculty member to be absent from assigned duties and responsibilities for reasons other than for illness. Full time faculty members on twelve-month appointments accrue annual leave at the rate of 6.769 hours biweekly. Part time faculty on twelve month appointments accrue leave at a rate directly proportional to the percent of time employed. A maximum (352 hours) of annual leave may be accumulated. All requests for annual leave should be submitted to the chair or supervisor as far in advance as possible. Additional information may be obtained from your department’s business manager or administrative assistant.
Full time faculty members earn 4 hours of sick leave for each biweekly pay period. Part time faculty accrue leave at a rate directly proportional to the percent of time employed. There is no limitation on total hours to be accrued. Sick leave must be earned before being taken. Additional information may be obtained from your department’s business manager or administrative assistant.
Professional Liability Insurance
The J. Hillis Miller Health Center Self-Insurance Program (UF SIP) provides comprehensive general liability protection, including professional liability coverage on an “occurrence” basis to all faculty employees, students and volunteers acting within the scope of their defined duties at the Health Center.
You are provided coverage for your acts as a Good Samaritan or when you engage in approved community service activities. Coverage for community service activities is subject to pre-approval in writing by your department chair and the Dean of the college.
Questions relating to malpractice insurance should be directed to Self-Insurance Program Insurance Services division, at 352-273-7006.