Employee BenefitsTOPICS
Health Insurance Pension
Commuter Benefits ProgramWageWorks
PSC-CUNY Welfare Fund
Time & Leave Additional Benefits
Health InsuranceTYPES OF COVERAGE PROVIDER
SDESCRIPTION
Health Maintenance Organization (HMO)
HIP, Aetna HMO, CIGNA, Empire
•Personal Care Physician (PCP)•Need referrals•Little or no out of pocket expense
Exclusive Provider Organization(EPO)
Empire •Must stay in network only•No referrals•No Primary Care Physician (PCP)•Higher Bi-weekly premiums
Point of Service (POS) HIP Prime POS
•In/out of network flexibility•Deductibles•Higher Bi-weekly premiums
Preferred Provider Organization(PPO)
GHI- CBP/EBCBS
•In/out of network flexibility•Freedom to choose•Deductibles for out of network•Negotiated lower payments
Health Insurance (cont’d)
The Summary Program Description Manual describes City of New York health benefits program in detail. www.nyc.gov/olr
Open Enrollment Period this year is scheduled for:
- Fall 2012 (TBD)
Pension – Irrevocable ChoiceNYC Teacher’s
Retirement System (Tier VI)
Optional Retirement Program TIAA –CREF (Tier VI)
Defined Benefit Plan: Benefits based on age, average of highest five years consecutive salary and years of employment
Defined Contribution Plan: Benefits are based on the amounts contributed by the employer and employee and the success of the employee’s choice of investments
Vesting: 10 years of full-time credited service
Vesting: After 366 days of continuous full-time employment (immediately if the employee has prior vested TIAA-CREF retirement contract.)
Contribution: 3% until 4/1/13; then contribution rate depends on salary.
Contribution: Employee Contribution 3% until 4/1/13; then contribution rate depends on salary, Employer contributes 8% for the first 7 years and 10% thereafter.
Retirement Age: 63 with unreduced retiree health benefits.
No retirement age, however needs 15 years of continuous F/T service and be age 62 for unreduced retiree health benefits.
TYPE OF COVERAGE
TITLES PROVIDER WHO IS COVERED
403(b) Supplemental Retirement Annuity (SRA)
TIAA-CREFHRC
FacultyHEO SeriesClassified Managerial
457(b) Deferred Compensation Plan
NY State Deferred Compensation Board
All employees
401 (k) City of New York 401 (k) Retirement Plan
City of New York Community College Employees only.
PSC-CUNY Welfare Fund Basic Benefits
Prescription Drugs – MEDCO (PICA through OLR)DentalOpticalDeath BenefitLong Term Disability (After completing 1 yr of
service)Hearing Aid BenefitTerm Life Insurance (One year free for new
NYSUT members)Extended Medical Benefit (For GHI members only)
Benefits effective the First of the Month
PSC-CUNY Welfare Fund Optional Benefits
Enhanced Long Term DisabilityCatastrophic Major Medical Term Life Insurance - NYSUT
For further information visit the website, www.psccunywf.org or call 212-354-5230
LEAVESTYPE OF LEAVES
• Family Medical Leave (FML)• Paid Parental Leave (PPL)• Scheduled Holidays• Unscheduled Holidays• Annual Leave• Temporary Disability (sick)• Jury Duty
Other LeavesSpecial Leave for Child Care (Unpaid)
Presidential Leave for Personal Emergencies (up to 10 days)
Dedicated Sick leave (DSL)
COMMUTER BENEFIT PLAN
WAGEWORKS• Benefit for all employees• Defer transportation cost into pre-tax account (tax deferred up to $125 per month)• Only 2 Bi-weekly payroll deductions allowed per month and monthly Admin Fee($1.77 - $3.05)• Used on MTA Subway and Buses, LIRR, Metro North, NJ Transit• Park-n-Ride option available
Other Benefits
TYPE OF BENEFIT DEFINITION
NY 529 College Savings Program Provides flexible and convenient low-cost ways to save for college – save for children/ grandchildren education
CUNY Tuition Fee Waiver Employees can attend any CUNY CollegesGraduate & Undergraduate courses during Fall and Spring session. No summer courses
Workers’ Compensation Employees who suffer a job-related injury or illness
Employee Assistance Programs:• CUNY Work/Life Program
Open to all teaching faculty, HEO Series and Classified Managerial staff
Pre-Tax Benefits ProgramsApplication within 30 days of appointment or during Fall enrollment period
TYPE OF COVERAGE WHAT IS COVERED
Health Care FlexibleSpending Accounts (HCFSA)
• Reduces taxable income • Can be used to pay for medical expenses such as:
- Co-payments- Dental- Prescription
• “Use it or lose it” Rule applies
Dependent Care Assistance Program (DeCAP)
• Reduces taxable income• Reimbursement after filing income taxes• Pays for nursery schools/certified child care• “Use it or lose it” Rule applies
Pre-tax Benefits Programs Continued
TYPE OF COVERAGE WHAT IS COVERED
Medical Spending Conversion(MSC)
• Allows City Employees to receive annual incentive payment in exchange for waiving City health benefits when other non-City group coverage is available to them• Employees receive $500 for waiving individual coverage and $1000 for waiving group coverage.•Paid semi-annually
Questions & AnswersContact Information:Nila Bhaumik, Deputy Director, Human
Resources, [email protected], Phone (718)482-5082
Andrea Cambridge, Benefits Coordinator, Human Resources, [email protected], Phone (718)482-5086
Nicole Paige, Benefits Assistant, Human Resources, [email protected], Phone (718)482-5075