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welcome

welcome. Faculty, Professional and Scientific and Supervisory Merit employees. ISU Plan Benefits for 2012. HRS Service Center and Benefits Office. Room 3810 Beardshear Hall Phone 515-294-4800 or 877-477-7485

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welcome

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  1. welcome Faculty, Professional and Scientific and Supervisory Merit employees. ISU Plan Benefits for 2012

  2. HRS Service Center and Benefits Office Room 3810 Beardshear Hall Phone 515-294-4800 or 877-477-7485 VIEW Benefit web page Benefit Specialists: JerilynRasmusson (A-K) Colleen Schalinske (L-P,T-Z) Jane Walter (Q-R-S)

  3. Initial NEW HIRE Selection • Enrollment by deadline – indicated on letter • Effective dates: • Medical and dental effective 1st day of employment • Other coverage, first of month following hire date or following approval • No pre-existing condition waiting periods for new hires.

  4. Mid-Year Changes • After initial enrollment: • Must have an “event” to add/drop dependents outside of open change time • Notice required within 30 days of event! • EXPECT 60 day notice for adding newborn, adopted child or dependents losing eligibility for Medicaid or hawk-i • The event date determines effective dates on adds and drops

  5. Annual Open Change period • Limited open change period, the 1st working day in November ends the Friday before Thanksgiving break • Medical, dental or vision changes effective February 1 the next year • E-mail notification • Informational guide provided • Link found through AccessPlus or Benefit Webpage • View participation and confirmation statements • Changes CAN be made via AccessPlus • You may not want to change your benefits, but your benefits might CHANGE!

  6. Medical and Dental Insurance is available for • Yourself only • You and a spouse or domestic partner • You and your child or children • You and your family (spouse or partner & children) • Double spouse options (both work for ISU/State of Iowa)

  7. My premium • ISU PLAN CREDITS • Contributions from ISU • Receive contributions for Medical, Dental, Life, and Disability Insurance • Shows as one lump sum on payroll information • Added to gross wage • Employee pre-tax elections • Retirement • Dental, Medical, Dental, Life, and Disability indicates full cost on payroll • Employee post-tax elections as enrolled • To calculate costs: • Subtract ISU PLAN CREDITS from dental, medical, life and disability B-base: in May, deductions are tripled!

  8. Medical Insurance • No Coverage • ISU Plan credit will be effective first of the month following hire date • Credit is applied to dental insurance coverage or one Flexible Spending Account • HMO(Wellmark (Blue Advantage) & Medco Rx) • PPO(Wellmark (Alliance Select) & Medco Rx)

  9. Prescription Drug Coverage • MEDCO/Express Scripts – a pharmacy benefit manager company • Separate Card in Contract holder name • $10 generic co-pay • 30% preferred brand co-insurance • 50% non-preferred brand co-insurance • Per 30 day supply (up to 90 days allowed) • Out-of-pocket maximum: • $1,500 single per (effective date) calendar year • $3,000 family per (effective date) calendar year

  10. Prescriptions By Mail • Mail Order • only way to get a 90 day supply of maintenance medication • no cost or for lower coinsurance on brand name drugs • Zero co-pay for mail order generics • 25% for preferred brand name Rx • 33% for non-preferred brand Rx • Mail order requires prepayment before branded drug shipment • Use Medco By Mail – Information will be included when ID is mailed by Medco Health Solutions in New Jersey

  11. Insurance • Administered by Delta Dental of Iowa • No coverage • Benefit credit will be effective first of the month following hire date • Credit will be applied to medical insurance coverage or one Flexible Spending Account • Basic • Comprehensive Limitations apply to certain services, call Delta and/or see certificates on-line.

  12. Termination and COBRA When employment or coverage must end due to an event that changes eligibility, such as other coverage starting, graduation, divorce or other reason: • Contact the ISU Benefits office to report the event within 30 days • If timely notice is provided, COBRA will be offered to the employee or dependents losing coverage • Limited time to apply to purchase

  13. Long Term Disability Insurance • BENEFITS: • Pays income if approved for LTD • Pays into retirement fund • Employee and Employer contribution continue • Elected TIAA-CREF or VALIC • Will not pay into IPERS • Pays all ISU life insurance policies • Enrolled in at the time of disability effective date • May continue group health & dental • Pay premium with ISU contribution • 90-day waiting period • Inquire at Benefits Office if you have questions

  14. Long Term Disability Insurance • Automatic Benefit after 12 months of employment • No questions • ISU pays premium • Optional enrollment for 1st year of employment: • must complete a Statement of Health • Approved: • First year coverage, you pay the full premium • The highest coverage is required • Participants may qualify for catastrophic leave donations • Denied: • Cover begins first of month following anniversary of date of hire • Choice of coverage after one year

  15. Basic Life Insurance • Effective date: • First of month following hire date • Unless hire date is the first of month • No coverage : • ISU PLAN CREDIT applies to medical or dental insurance costs first • Remainder to Flexible Spending • Basic Life paid in full by ISU • (credit is equal to price tag) • Coverage pays 2 times salary to beneficiaries • AD pays additional 4 times salary • D (dismemberment) collect a portion • Reduces at age 65 (January 1 of the year you attain age) • At termination • Coverage ends • If retiring from ISU • Coverage terminates but eligible for $4,000.00 policy if life insured for 10 years up to date of retirement

  16. Basic Life Beneficiary • Principal Beneficiary form to be completed if you are taking the basic life insurance • Primary beneficiaries inherit all life insurance payout • Contingent beneficiaries only inherit if Primary beneficiaries are deceased • SSN is not required and beneficiaries may reside outside of U.S • Custodial appointment for minors

  17. Voluntary Life Insurance • Must enroll in Basic Life to enroll in voluntary coverage • Complete Principal voluntary life form to enroll or decline • May be dropped at any time: • First pay period following notice • Premiums: • 100% paid by employee • Post-tax basis • Cost based on salary and age - increases January 1 of the year attain new tier • Benefit value: 1, 2, 3 or 4 times budgeted salary. • Minimum: Greater of 1 times or $10,000 • Maximum: Lesser of 4 times or $500,000 • 1 or 2 times - guaranteed at initial enrollment • 3 or 4 times require approved statement of health • > 70 years, not eligible for over 2 times • Portable • Terms at age 75 • Accidental death & dismemberment, additional benefits such as repatriation, loss of use/paralysis, education, career adjustment, public transportation, etc.

  18. Dependent Life Insurance • Employee must be enrolled in basic and voluntary life to elect dependent life. • If Voluntary life is dropped, dependent life also drops • Coverage for eligible spouse (not an ISU employee) and /or eligible children. • Children are eligible to age 26 • Employee responsible to notify to drop if eligibility ends • Term policy • May elect later but underwriting approval will be required

  19. Health care flexible spendinG & DEPENDENT CARE ASSISTANCE PROGRAM • ASIFlex administers our plan • Tax Savings Device • Pre-tax contributions from your pay • Optional Participation • If ISU excess contributions apply: • It is your option to claim those funds • If you don’t claim, funds return to ISU • Two separate accounts: • Health Care Flexible Spending • $2,500 annual maximum for 2013 • Dependent Care Assistance Program (Day Care) • $5,000 annual maximum per household • What is flexed may not be reported on tax return • Use it or LOSE funds! • Incur expenses in calendar year (effective date) & claim by deadline – April 30.

  20. HEALTH CARE FLEXIBLE SPENDING & dependent care assistance program • Reimbursement forms available on ASIFlex website • Direct deposit available • Automatic filing for some possible • Enrollment & eligibility required • REMINDER: • Use it or LOSE funds! • Incur expenses in calendar year (effective date) • Claim by deadline – April 30

  21. Employee Assistance Program • When you are facing a personal problem the EAP program gives you: • Timely and free access to: • Short-term • Confidential • Professional services • Services through Employee and Family Resources (EFR) • Up to three sessions per year, per separate issue at no cost • 24/7 telephone counseling - unlimited • Available to: • All benefits eligible employees • Family members

  22. (Eye wear insurance) • In-network benefits • Discount benefits for: • Frames, spectacle lenses or contact lenses every 12 months • Discounted specialty lens options • Out-of-network limited reimbursement • Lasik $150.00 unless using Avesis Lasik providers for additional discount. Shop and compare, you may find comparable savings with other providers. • Monthly premiums payroll deducted – post-tax • Employee only $ 6.98 • With spouse $13.23 • With children $14.42 • With family $18.55

  23. Sick Leave Conversion (not applicable to B-base employees) • Once your sick leave accumulation has reached 30 days (240 hours) • You may be eligible to elect to substitute 4 hours of vacation accrual for every 12 hours of sick leave • Conversion can occur: • Only if no sick leave was used for that month • As long as total accumulation remains above 240 hours • Contact payroll or see payroll website • For form to start or end conversion

  24. Converted Time • If eligible: • Sick leave converted to vacation • May be accumulated up to 96 hours • If terminating employment • Vacation and sick leave converted to vacation will be paid • Regular sick leave will be forfeited • Retirees: • Apply for sick leave payout get paid for unused sick leave • Maximum $2,000

  25. Catastrophic Leave & Donations • Employee with Physician certified medical condition • At least 30 days of lost employment • Allowed up to 90 days for LTD Waiting Period • Employee vacation & sick leave exhausted • Employee not receiving • Worker’s Comp • Long Term Disability • Donors are employees who accrue vacation • Donate ONLY: • Vacation time • Converted time • Allowed to receive donations from: • University of Iowa • UNI • State Department of

  26. I.S.U. Retirement Funds • IPERS (Iowa Public Employees Retirement System) • TIAA/CREF Retirement Annuity (Teachers Insurance and Annuity Association and College Retirement Equities Fund) • VALIC (The Variable Life Insurance Company)

  27. The election of IPERS, TIAA/CREF or VALIC is IRREVOCABLE! • Even if you accept a different position at I. S. U. where you would otherwise be eligible to choose any of the three programs, or, terminate and become re-employed in an eligible position.

  28. RETIREMENT • Defined benefit plan • Rules governing the operation of IPERS are controlled by the Iowa Legislature • IPERS makes investment decisions, annuity is based on formula • IPERS takes all the investment risk • Contribution: • Employee 5.78% of budgeted salary • ISU contributes 8.67% of budgeted salary

  29. Guaranteed Benefit Income • You CANNOT outlive your benefit • The formula multiplier is based on your years of service • 2% increase per year for the first 30 years • 1% increase per year for the following 5 years • Maximum multiplier is 65% • Normal retirement age: • Age 65 • Rule of 88 (age + years of service = 88) • Rule of 62/20 (age and years of service) • July 1, 2012 - Wages used to calculate benefit amounts will be the average over the 5 years the employee earned the most • July 1, 2012– Retireprior to age 65, benefits will be reduced by 6% times the # of years before turning 65

  30. IPERS- Future Changes Future changes in contributions • Effective 7-1-2013 • IPERS may adjust rate up or down by no more than 1.0 percentage point • IPERS rules may be changed again by the Iowa Legislature.

  31. IPERS AND VESTING • Current vesting: 16 quarters (4 years) of wages or if wages are reported to IPERS during the calendar year you reach age 55 (or older) whichever comes first • Effective July 1, 2012 : Vesting change • Member not vested by July 1 will become vested after 7 years of active participation in IPERS or upon reaching 65, whichever comes first • Facts and conditions may vary greatly depending on the amount of wages earned by the member • Consult with IPERS representatives prior to a final decision about a service purchase

  32. OR • A defined contribution plan • Established by Iowa State University and approved by the State Board of Regents • Contribution – based on annual budgeted salary: • Employee – 3 1/3% of first $400 - $4,800/12 = $400 (9 = $533.34) and 5% of the remaining salary • ISU contribution – 6 2/3% of the first $400 ($533.34) and 10% of the remaining salary • End of 5th year of employment – Employee – 5% and ISU 10% • Employee takes on the risk • You choose how your funds are invested • You can change your fund allocations at any time • Vested after 3 years of employment at ISU • Lump sum payout allowed

  33. Guaranteed Benefit Income • No guaranteed benefit • Amount can fluctuate based on the performance of the investment you select • Benefit Amount Based On • Retirement income options available • Your age at the time benefits begin • Size of your retirement plan accumulations • Rate of return before and after retirement • Withdraw funds without penalties • After you retire from ISU • Upon reaching age 59 ½ if you separated from service before retirement

  34. Contribution Comparisons -$3,000 Monthly Budgeted Salary IPERS Employee Contribution 7-1-2012 - 5.78% = $173.40 ISU Contribution 7-1-2012 - 8.67% = $260.10 Monthly total = $433.50 TIAA/CREF or VALIC Employee Contribution 3 1/3 of first $4,800 = $13.33 ($4,800/12 = $400) 5% of remaining $2,600 = $130 ISU Contribution 6 2/3 of first $4,800 = $26.66 10% of remaining salary = $260 Monthly Total = $429.99

  35. TIAA-CREF or VALIC Contributions Example for B-base only$3,000 Monthly Budgeted Salary Employee contribution 3 1/3% of first $4800 B-base divide $4,800 by 9 = $533.34 = $17.78 5% of the remaining salary $2,466.66 = $123.34 ISU contribution 6 2/3% of first $400 B-base $533.34 = $35.56 10% of the remaining salary = $246.68 Monthly Total $423.36

  36. Saving for Retirement Advice • ISU Retirement Specialist – Ann Doty • TIAA-CREF - local office, or consulting line • VALIC – Daniel Allen 913-402-5000 (District) 515-770-1725 (Cellular) • IPERS – Des Moines office and visits to ISU campus

  37. Supplemental Retirement Annuity • A retirement account separate from your retirement annuity • IRS provides maximum contribution guideline • Previous contributions into a voluntary plan are considered • Eligible for employees with IPERS or TIAA-CREF or VALIC • Roth 403(b) option also available (post-tax) • May begin or end contributions or switch carriers any month • Changes based on date submitted to Benefits Office • Available on Benefits web page: • Elective Payroll Reduction Form for enrollment and • List of companies allowed by ISU to use payroll deduction for supplemental annuity

  38. VALUE Added Benefits • State of Iowa • Perkspot • Principal Financial Group • Will Preparation Service/Financial and Healthcare Power of Attorney • Wellmark • Request electronic explanations of benefits • BLUE 365 • Delta Dental • Register as subscriber to access coverage details • Request electronic explanations of benefits • Delta’s vision discount program – EyeMed

  39. Employee and Labor Relations/Workers’ Compensation • Administers Collective Bargaining Contract between State of Iowa and AFSCME • Oversee Performance Management and Disciplinary Action Consultation for Managers and Supervisors of Organized Merit and Non-Organized Merit, and P & S Employees • FMLA Leave Policies and Procedures • Consults and assists with conflict resolution, complaints and problem solving • Administers Employee Disability Accommodation Process

  40. Employee and Labor Relations/Workers’ Compensation • Provides guidance/assistance to employees, supervisors, and HR staff related to effective management of work injuries and/or other health conditions that impact work activities of our employees. • Offer professional development opportunities for ISU staff and faculty • Performance Management training sessions • FMLA sessions • Conducts new employee Orientation sessions

  41. Performance Management The purpose of Performance Management is to help the Employee be successful in his or her position • Training Courses – Course offerings located in Link to HR • HRS Website – Information for Performance Management • Links to Performance Management Issues/Topics regarding P & S, Non-Organized Merit and AFSCME Employees • http://www.hrs.iastate.edu/hrs/node/83 • HR Department Toolkit – Located in Link to HR • Templates: Performance Improvement Plans, Annual Review, Sample letters • P & S and AFSCME Disciplinary Policies, Merit Rules (Non-Organized Merit) • Outline of AFSCME Disciplinary Process • Basics of Performing Employee Investigations

  42. FMLA Polices and Procedures The Family and Medical Leave Act is a federal law passed in 1993 that provides eligible employees with certain rights surrounding a protected leave of absence: • Unpaid leave for a qualifying event • Job protection/reinstatement • Continued health benefits

  43. Who is eligible to take FMLA? ISU employees are eligible to take FMLA if they: • Have qualifying condition • Birth/Adoption of child • Care for spouse/partner, child or parent who has “serious health condition, • Own “serious health condition” • Exigency due to family member called to active military duty • Care for covered service member • Worked for ISU for at least 12 months (Faculty, P & S, Supervisory Merit, Non-Supervisory Merit, Post Docs • Worked at least 1250 hours in previous 12 months Please contact ER/LR in order to determine FMLA eligibility: fmla@iastate.edu *FMLA Flowchart, Forms and FAQ located at: http://www.hrs.iastate.edu/hrs/node/260 *Additional training courses offered – upcoming sessions located in Access Plus/Link to HR

  44. Disability Accommodation Process Steps in Accommodation Request Procedures: • Employee submits Disability Accommodation Request form to supervisor or ER/LR • Employee and Healthcare Provider complete Documentation of Disability form and return to ER/LR • ER/LR, Supervisor, and Employee discuss possible accommodation Contact your supervisor, ER/LR office (294-3753) or hrshelp@iastate.edu for assistance

  45. Workers’ Compensation The Workers’ Compensation Act is part of the Iowa Code designed to provide certain benefits to employees who sustain injuries, occupational illnesses or occupational hearing loss arising out of and in the course of their employment. Benefits provided: • Payment of all reasonable and necessary medical care incurred to treat the injury (Care directed by Employer/Sedgwick) • Weekly compensation due to incapacity to work or permanent impairment • Reasonable and necessary transportation expenses • Prescription reimbursement

  46. Workers’ Compensation Reporting a work-related accident, injury or illness: • All accidents and injuries occurring at work or in the course of employment must be reported to the employee’s supervisor, even if no medical attention is required. • The supervisor and/or the employee are responsible for completing a First Report of Injury (FROI) via Access Plus • Supervisor is responsible for reviewing and electronically submitting through Access Plus within 24 hours of when incident is reported. • FROI received by Human Resources and filed with the state and evaluated by Sedgwick CMS to determine compensability of claim.

  47. Workers’ Compensation: Employee Responsibilities If a life threatening emergency should arise, dial 911 and go directly to nearest emergency medical facility for treatment. Non-life threatening injuries or illnesses should be reported to the employee’s supervisor who will arrange medical care with: Occupational Medicine, McFarland Clinic, P.C. 1215 Duff Avenue Ames, IA 50010 For appointments call: 515-239-4496 Outside of Ames, IA: Review Approved WC Provider List on: http://www.hrs.iastate.edu/hrs/files/FAQ_WorkersComp.pdf

  48. Workers’ Compensation: Employee Responsibilities • Notify supervisor of injury and completing FROI in Access Plus • Obtain medical care from an authorized medical provider. • Keep records of dates of medical appointments, mileage, and expenses. • Attend scheduled appointments related to WC claim • Provide supervisor with a Work Status Report completed and signed by the authorized medical provider prior to returning back to work. • Review information on Work Status Report with supervisor and confirm temporary work situations that may occur due to physician restrictions.

  49. Workers’ Compensation: Supervisor Responsibilities • Arrange initial medical appointment for injured worker with an approved WC provider • Work with employee to submit FROI to Human Resources through Access Plus • Complete Lost/Restricted Time Reports when an employee is away from work or if he/she is on work restrictions which you are able to accommodate. Submit by 5:00 on Monday for proceeding week. • Inform employee they must bring Work Status Report prior to returning back to work. • Review Work Status Report and compare restrictions with daily work duties. • Provide employee with following forms (all available on HR website): • Mileage/Prescription Reimbursement Form • Supplementing Workers’ Compensation Benefits letter • P28 benefits election form • Transitional Work Plan • When applicable, FMLA policy information if employee has missed 3 or more consecutive days of work. *Additional FAQ’s found on HR website: http://www.hrs.iastate.edu/hrs/files/FAQ_WorkersComp.pdf

  50. Questions Human Resources Service Center 3810 Beardshear 515-294-4800 800-877-477-7485

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