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201υBenefitsGuideForEmployeesoftheLouisianaStateUniversitySystem
▪ HealthInsurance ▪ VoluntaryBenefits ▪ FlexibleBenefits ▪ RetirementPlans▪
Forthe LSUAgCenter
TABLEOFCONTENTS
HealthInsuranceBenefits......................... .. Eligibility DependentCoverageOptions Section125TaxImplications ContinuationofMedicalCoverage
33345
HealthInsurancePlanOptions........................ TypesofHealthInsurancePlans BenefitComparisonofAvailableHealthPlanOptions LSUFirstBenefitSnapshot LSUFirstProrationGrid HealthInsurancePremiums
668121415
Tax‐SaverFlexibleBenefitPlans....................... TypesofTax‐SaverPlans FlexibleSpendingAccounts(FSA) ExpenseEstimationWorksheet
16161720
VoluntaryBenefits..............................
AccidentProtectionPlan AccidentalDeath&DismembermentInsurance(AD&D) CriticalIllnessInsurance DentalInsurance LongTermCareInsurance LongTermDisabilityInsurance TermLifeInsurance–thoughLSU TermLifeInsurance–throughStateofLA VisionInsurance
21222324252728303233
RetirementwiththeLSUSystem 33
RetirementPlanOptions......................... .. Classified(CivilService)EmployeeOptions UnclassifiedProfessional/AcademicEmployeeOptions–FullTimeEmployees ComparisonofTRSLandORP UnclassifiedProfessional/AcademicEmployeeOptions–Temporary/PartTime
EmployeesorSpecialCircumstances TaxDeferredSupplementalRetirementAccount
RetirementPlanContactInformation.....................
3435384142
44
47
EnrollmentForms........................... ...
49
StudentTuitionAssistanceandRevenueTrustProgram(529) ......... 50
Leave................................ ....
50
Holidays..................................
52
Paydays........................... .......
52
StaffDirectory............................... 53
WELCOMETOTHELSUSYSTEM
2
EmployeeBenefitsOfferedThroughtheLSUSystemInrecognitionofthediverseneedsofitsemployees,theLouisianaStateUniversitySystemoffersavarietyofemployeebenefitprograms,allowingyoutoselectalevelofprotectionandsecuritybestsuitedtoyourpersonalsituation.ThisbookletprovidesanoverviewofthefollowingBenefitPlans:
MedicalPlanso LSUFirst
Option1 Option2
o PelicanHRA1000o PelicanHSA775o MagnoliaLocalo MagnoliaLocalPluso MagnoliaOpenAccesso Vantage
Tax‐SavingBenefitPlanso PremiumsOnlyPlano HealthcareSpendingAccounto DependentCareSpendingAccount
VoluntaryBenefitPlanso AccidentProtectionPlano AccidentalDeathandDismembermentInsuranceo CriticalIllnessInsuranceo DentalInsuranceo Long‐TermCareInsuranceo Long‐TermDisabilityInsuranceo TermLifeInsuranceo VisionInsurance
RetirementPlanso ClassifiedEmployeeso UnclassifiedEmployees
YourHumanResource/BenefitsDepartmenthasadditionalPlaninformationandenrollmentformsavailableintheiroffice.Inanefforttokeepyouinformedofyourbenefitoptions,theywillalsoprovidebenefitinformationperiodicallyusingothermethodsofcommunication,includingmemoranda,meetings,andnewsletters.Youcanalsofindthisinformation,andmore,ontheLSUSystem
website:www.lsusystem.edu/index.php/faculty‐staff/employee‐benefits/.YoumayalsovisittheLSUAgCenterHumanResourceManagementwebsite:www.lsuagcenter.com/hrm.AlthoughtheLSUSystemhopestoofferparticipationinthesePlansindefinitely,ithastherighttoamendorterminateanyBenefitPlan.EachPlandescribedinthisbookletisgovernedbyalegaldocumentcalledthePlanDocument.TheLSUSystemhastakencaretoaccuratelypresenttheinformationcontainedineachPlanDocumentinawaythatiseasilyunderstood.Thefollowingdescriptionsandinformationarenotintendedtobeall‐inclusiveorsupersedetheindividualPlanDocuments,rulesorpolicies.Therefore,intheeventofadiscrepancybetweenthisbookletandthePlanDocuments,thePlanDocumentswillbefollowed.ItisimportantforyoutohaveagoodunderstandingofeachBenefitPlanthatisoffered.Pleasereviewthisbookletcarefully,andifyouhaveanyquestions,pleasecontactyourlocalHumanResource/BenefitsDepartment.
HEALTHINSURANCEBENEFITS
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EligibilityAnyactiveemployeeoftheLSUSystemiseligibleforhealthinsuranceprovidedthefollowing: Employedat75%offull‐timeeffortperpayperiod(avg.of30hours/week)orgreater
Appointedforadurationofatleastonesemesteror120daysorgreater
EffectiveDateofCoverageTimelyApplicant:Ifyouenrollwithinyourfirstthirty(30)daysoffull‐timeemployment,yourcoveragewillbeeffectivethe first of the month following your first full calendarmonthofemployment. Forexample:DateofHire=August20th,EffectiveDate=October1st
Consider your benefit needs carefully and make theappropriate selection. Youwill not have an opportunity toadd or drop dependents until the next annual enrollmentperiod,unlessyouexperienceaQualifyingEventduringtheplanyear.DependentCoverageAneligibledependentisdefinedassetforthbelow: ThecoveredEmployee’slegalspouse; AChildfromdateofbirthupto26yearsofage; Anever‐marriedChildofanyagewhomeetsthecriteriafor “Over‐Age Dependents” in the section entitled“OverageDependents,”below.
The Employee may also enroll an eligible DependentduringtheyearifacourtorderstheEmployeetocoveraneligibleDependent(e.g.,aQMCSO). See theSectionentitled “Qualified Medical Child Support Order” formore details regarding a QMCSO. Coverage will takeeffect the first day of themonth following the date ofreceiptbyyourEmployerofallrequiredformspriortothefifteenthofthemonth,orthefirstdayofthesecondmonthfollowingthedateofreceiptbyyourEmployerofallrequiredformsonorafterthefifteenthofthemonth.
OverageDependents. IfaDependentChild is incapable(andbecameincapablepriortoattainmentofage26)ofself‐sustaining employment by reason of mentalretardation or physical incapacity, and is dependentupon the covered Employee for support, the coveragefor the Dependent Child may be continued for thedurationofincapacity.o Prior to the Dependent Child reaching age 26, anapplication for continued coverage with currentmedical information from the Dependent Child’sattendingPhysicianmustbesubmittedtothePlanto
establish eligibility for continued coverage as setforthabove.
o Upon receipt of the application for continuedcoverage, the Plan may require additional medicaldocumentation regarding the Dependent Child’smentalretardationorphysical incapacityasoftenashemaydeemnecessarythereafter.
DependentCertificationRequirementforallHealthPlansandGroupBenefitsLifeInsurance:To deter fraud, abuse, and assure the proper use of publicfunds and Plan Members’ premium dollars, The Office ofGroupBenefitsandLSUFirstjointhemajorityofpublicandprivatehealthbenefitprogramsbyrequiringproof that thedependentscoveredarelegaldependentsoftheEmployee.All active and retired employees are required to providewritten proof that each dependent covered under theEmployee’shealthPlanishis/heractuallegaldependent.Allemployeesmustpresentappropriatewrittenverificationforall currently covered dependents to the Human Resources(HR)/BenefitsDepartmentonhis/hercampus.WrittenVerificationRequiredforDependents:Active Plan Members must provide proof of the status ofeachcovereddependenttoyourHR/BenefitsDepartmentonyourcampus.Failuretocomplywiththeserequirementswillresult in cancellation of your dependents’ coverage. Anydependentverificationdocuments ina languageother thanEnglishmustbetranslatedbyathirdparty.Belowisalistofcategoriesofdependentsandtheproofthatmustbepresentedat the timeofenrollmenttocoverthesedependent(s):1. Spouse Certifiedcopyofmarriagelicenseindicatingdateandplaceofmarriage
2. Dependent child under age 26 or Natural or legallyadoptedchildofPlanMember CertifiedcopyofbirthcertificatelistingPlanMemberasparentor
Certified copy of legal acknowledgment of paternitysignedbyPlanMemberorCertified copy of adoption decree naming PlanMemberasadoptiveparent
3. Stepchild Certifiedcopyofmarriagelicensetospouseandbirthcertificate listing spouse as natural or adoptiveparent
HEALTHINSURANCEBENEFITS
4
4. Child placed with your family for adoption by agencyadoption or irrevocable act of surrender for privateadoption Certified copyof adoptionplacement order showingdateofplacementor
Copyofsignedanddatedirrevocableactofsurrender
5. Childforwhomyouhavebeengrantedguardianshiporlegalcustody,includingprovisionalcustody Certifiedcopyof signed legal judgmentgrantingyoulegalguardianshiporcustody
6. Grandchild forwhomyoudonothave legalcustodyorguardianshipbutwhoisdependentonyouforsupportandwhoseparentisacovereddependent Certifiedbirthcertificateoradoptiondecreeshowingparent of grandchild is a dependent child andcertifiedcopyofbirthcertificateshowingdependentchildisaparentofgrandchild
7. Never‐marriedchildage26orolderwhoisincapableofself‐sustaining employment due to mental retardationorphysicalincapacitywhowascoveredpriortoage26. CertifiedcopyofbirthcertificatelistingPlanMemberasparentor
Certified copy of legal acknowledgment of paternitysignedbyPlanMemberor
Certified copy of adoption decree naming PlanMemberasadoptiveparent
Must also apply for continued coverageprior to age26andprovidesupportingmedicaldocumentation
Must provide additional medical documentation ofchild’sconditionperiodicallyuponrequestbyPlan
If you have questions about the dependent verificationpolicy,contactOGBCustomerServicetoll‐freeat1‐800‐272‐8451orcallorvisityourlocalHR/BenefitsDepartment.AddingNewDependentsTo add newly eligible dependents acquired throughmarriage,birth,oradoption,youmustsubmitachangeformtoyourHR/BenefitsDepartmentwithin30daysoftheevent.Coveragewillbeeffectiveasofthedateoftheeventwhenachangeformissubmittedwithin30days.IMPORTANT NOTE: Newborns are not automaticallyadded toyourpolicy. Youmustcompleteanenrollmentform and submit a birth letter (including name ofparents)within30days of thedate ofbirth in order toaddthemtoyourcoverage.Thebirthcertificateshouldbesubmittedas soonas it is received to ensure your childremainscovered.
DeletingDependents:In order to delete a dependent, youmust submit a changeform to your HR/Benefits Department within 30 days oflosingeligibilityforanyofthefollowingevents: Divorcedspouse Over‐agechildren Childrennolongerdependentonyouoryourspouseforsupport
DeceasedspouseorchildSection125TaxImplicationsThrough the Tax‐Saver Premiums Flexible Benefits Plan, ifyouparticipateinaHealthPlanthroughTheOfficeofGroupBenefitsorLSU,yourpremiumsmaybedeductedonapre‐tax basis, thereby reducing your tax liability. For moreinformation, see page 16. However, there are someimportant conditions per Internal Revenue Serviceregulations:If you enroll for health coveragewith premiums paid on abefore‐taxbasis,youmaynotdiscontinueorreducethelevelof coverage (i.e. Family toSingle coverage)during theyearunlessthechangeisinconnectionwithaqualifyingevent.AnnualEnrollmentEach year during themonthofOctober, eligible employeeshaveanopportunitytochangetheirHealthPlanelectionsorelectnewhealthcoverageforaneffectivedateofJanuary1st.TerminationofMedicalCoverageYourhealth insurancecoverageunderanyof theplanswillendontheearliestofthefollowingdates: Onthedatetheprogramterminates Onthelastdayofthemonthinwhichyouremploymentterminates*
Onthelastdayofthemonthinwhichyourworkhoursare permanently reduced to less than 30 hours perweekorlessthan75%offull‐timeeffort
Onthelastdayofthemonthinwhichyouelecttocancelcoverage
Onthelastdayofthemonthofthecoveredemployee’sdeath
*If you are an academic employee who terminatesemploymentat the endof theacademic year, your coveragemay be extended through September 30th of the same year.SeeyourHRdepartmentformoredetails.
HEALTHINSURANCEBENEFITS
5
ContinuationofMedicalCoverageAtTerminationofEmploymentorIneligibilityofaDependentCOBRA (Consolidated Omnibus Budget Reconciliation Act)is a federal law, which requires that group plans offercovered employees and dependents the opportunity tocontinue health insurance coverage when coverage wouldnormally end for certain specified reasons. The followingprovisionsoutlinetherequirementsforcontinuedcoverageinaccordancewiththelaw: You and your covered dependents may continuecoverageforupto18monthsifcoverageendsbecauseofeitherapermanentreductioninthenumberofhoursworked or termination of employment for any reasonotherthangrossmisconduct.Youand/oryourcovereddependent must apply within 60 days of the datecoverage ends or the date you are notified of yourcontinuationrights,whicheverislater.
Your dependents may continue their coverage underthe group plan for up to 36 months if their coverageendsforanyofthefollowingreasons:o Divorcefromtheemployeeo Deathoftheemployee,oro Dependent child reaches the maximum age orotherwiseceasestoqualifyasadependentunderthePlan.
Coveragewouldbeeffectivethefirstofthemonthfollowingtheevent.AsaSurvivingSpouseorDependentUponyourdeath,yoursurviving legalspousemaycontinuehis/her health insurance coverage by completing anapplication within 30 days of your death and paying theapplicablemonthly premium. Coveragewould be effectivethefirstofthemonthfollowingtheevent.Your surviving dependent childrenmay continue coverageuntil they are no longer eligible as a dependent on Health
PlansofferedbytheLSUSystem.Ifyoursurvivingspouseordependent later becomes employed through the State ofLouisianaand therebygainseligibilityasanemployeeor ifthey are eligible for other group coverage, they will nolonger be eligible for coverage as a surviving spouse ordependent.AtRetirement:YoumaycontinueyourmedicalplanuponretirementifyoumeettheeligibilityrequirementsforageandyearsofserviceundertheTeachers’RetirementSystemofLouisiana(TRSL)orLouisianaStateEmployees’RetirementSystem(LASERS).IfyouareaMemberofTRSL’sOptionalRetirementPlan,youmust meet the eligibility requirements, as defined by theTRSL,tocontinuecoverage.IfyoubeganparticipatinginaHealthPlanthroughtheStateofLouisianaonorafterJanuary1,2002,thestatesubsidyofyourpremiumafterretirementwillbebasedonthenumberofyearsyouhaveparticipatedinaGroupBenefitsprogram.If your spouse and/or dependents began participating in aHealthPlanthroughtheStateofLouisianaonorafterJuly1,2002, the state subsidy of their premium after yourretirement (and upon your death) will be based on thenumberofyearstheyhaveparticipatedinaGroupBenefitsprogrampriortoretirement.Thefollowingscheduleisusedindeterminingthestate’ssubsidyofaretiree’spremium: 10yearsorlessofparticipation:19%ofpremiumpaidbytheState
More than 10 but less than 15 years of participation:38%ofpremiumpaidbytheState
More than 15 but less than 20 years of participation:56%ofpremiumpaidbytheState
20 or more years of participation: 75% of premiumpaidbytheState
*Ifyouelecttocancelmedicalinsuranceasaretiree,coveragecanonlybereinstatedunderverylimitedprovisions(seePlanDocumentforexplanation).
HEALTHINSURANCEPLANOPTIONS
6
The LSU System offers employees and their eligibledependents financial protection against a wide range ofhealthcareexpensesresultingfromillnessorinjury.Aspartof our continuing effort to provide benefits to meet thevarying needs of our employees, the System offers you achoiceofhealth insuranceplans.Thepremiumsareeligiblefor tax sheltering under the Tax‐Saver Premiums OnlyFlexibleBenefitsPlan.ThissectionsummarizesthemainpointsoftheHealthPlansoffered to employees of the LSU System, each of which isgovernedbyalegaldocumentcalledaPlanDocument.Intheevent of a conflict between this summary and the PlanDocument, the terms of the Plan Document will be thegoverningdocumentthattheLSUSystemwillfollow.TypesofHealthInsurancePlans
1. LSUFirst(Option1andOption2)‐Nationwide‐TheLSU System Health Plan (LSU First) is a self‐insuredplanthatutilizesWebTPAastheClaimsAdministrator,AetnaASAastheNationwideNetwork,eQHealthastheMedical Manager, Express Scripts as the PharmacyBenefits Manager, and Verity HealthNet for local andFirst Choice Provider network administration (seepages8‐11formoredetails) Consumer‐driven health plans give you choice andcontrolonhowtospendyourhealthcaredollars.LSUFirst includes up‐front benefit dollars in a HealthReimbursementAccount (HRA), including $1000 foremployee only, $1500 for employee/spouse andemployee/children, and $2000 for family coverage.Preventive care is covered at 100% with no HRAutilization. You can also see a specialist without areferral.
Option1vs.Option2:ThedifferencebetweenOption1andOption2inLSUFirstisthattheDeductibleandOut‐of‐Pocket Maximum is higher under Option 2.The monthly premium is lower as a result of thehigher out‐of‐pocket responsibility of the MemberunderOption2.Option2maybeagoodchoiceifyouhaverolloverdollars fromapreviousPlanYearor ifyou know you will have minimal healthcare costsduringthePlanYear.
2. PelicanHRA1000‐PreferredProvider
Organization(PPO)Nationwide–ThePelicanHRA1000includes$1000inemployercontributionsforemployeeonlyplansand$2000forfamilyplansinahealthreimbursementaccountthatcanbeusedtooffsetdeductibleandotherout‐of‐pockethealthcarecosts.Anyunusedfunds
rolloveruptothein‐networkout‐of‐pocketmaximum,allowingmemberstobuildupbalancesthatcovereligiblemedicalexpenseswhentheyhappen.TheHRA1000isadministeredbyBlueCrossBlueShieldofLouisianaandprovidesanationwidenetworkofproviders.(Seepages8‐11formoredetails),
3. PelicanHSA 775 Nationwide – The Pelican HSA 775offers the lowest premiums in addition to a healthsavings account funded by both the employer andemployee.Employerscontribute$200totheHSA,thenmatch any employee contributions up to $575.Employeescancontributeadditionalfundsonapre‐taxbasis, up to $2,275 for an individual and $5,875 for afamily to cover out‐of‐pocket medical and pharmacycosts. Unused funds can remain in your HSA accountandearninterest–taxfree‐fromyeartoyear.TheHSAdiffers from the HRA in that the money in an HSAfollows themembereven ifhechanges jobsor retires.TheHSA775isadministeredbyBlueCrossBlueShieldof Louisiana and provides a nationwide network ofproviders.(Seepages8‐11formoredetails).
4. Magnolia Local Local– The Magnolia Local plan is atraditional plan that offers $25 primary care co‐paysand$50specialtycareco‐paysformemberswholiveinspecific coverage areas. Community Blue and BlueConnect Networks in Shreveport, New Orleans andBatonRougeareavailableforOGBmembers.(Seepages8‐11formoredetails).
5. MagnoliaLocalPlusNationwide–TheMagnolia LocalPlus offers the same coverage as the Magnolia Localplan, with the benefit of a nationwide network. TheLocal Plus optionoffers $25 primary care co‐pays and$50 specialty care co‐pays for OGB members in anyregion. The Local Plus plan is ideal for members whoprefer the predictability of co‐payments rather thanusing employer funding to offset out‐of‐pocket costs.TheMagnoliaLocalPlus isadministeredbyBlueCrossBlue Shield of Louisiana and provides a nationwidenetworkofproviders.(Seepages8‐11formoredetails),
6. Magnolia Open Access Nationwide– The MagnoliaOpen Access Plan offers coverage both inside andoutside of Blue Cross’s nationwide network. It differsfromtheotherMagnoliaplansinthatmembersenrolledin the Open Access plan will not pay co‐payments at
HEALTHINSURANCEPLANOPTIONS
7
physicianvisits.Instead,onceamember’sdeductibleismet, he or shewill pay 10% of the overall bill for in‐network care and 30% of the overall bill for out‐of‐networkcare.Thoughthepremiumsfortheopenaccessplan are higher, its moderate deductibles combinedwith a nationwide networkmake it an attractive planformemberswho live out of state or travel regularly.(Seepages8‐11formoredetails).
7. Vantage Home HMO Statewide– Vantage’s MedicalHomeHMOisapatient‐centeredapproachtoprovidingcost‐effective and comprehensive primary health carefor children, youth and adults. This plan createspartnershipsbetweenthe individualpatientandhisorher personal physician and, when appropriate, thepatientsfamily.
AllVantageMembers are required to select aPCPuponenrollmentintheVantageRegionalHMOPlan.EachVantageMemberhasanongoingrelationshipwithapersonalPhysiciantrainedtoprovidefirstcontactandassist you in obtaining access to ongoing andcomprehensivehealthcare.ThePrimaryCarePhysicianis your personal physician and will work with you tocoordinate all of your health care. Your personal
Physician, or PCP, leads a team of clinical health careprofessionals who collectively take responsibility foryour immediateandongoinghealthcareneeds.Healthcare professionalsmay also include a variety of otherclinical professionals, such as nurses, social workers,dieticiansandnutritionists.Your PCP will also be responsible for arrangingappropriate care with other qualified health careprofessionals,SpecialtyCareProvidersorfacilities,suchas radiologists, laboratories, surgeons, and Hospitals.YourPCPwillassistyouinprovidingorarrangingforallofyourhealthcareneeds,includingacutecare,Chroniccareandpreventiveservicesacrossallelementsof thecomplex health care system (e.g., subspecialty care,Hospitals, home health agencies, nursing homes) andthepatient’scommunity(e.g.,family,publicandprivatecommunity‐based services). Care is facilitated by theVantage Medical Management department which willworkcloselywithyourPCPtofacilitatecommunicationamong the various Participating Providers involved inyourhealthcare.(Seepages8‐11formoredetails),
FormoreinformationontheHealthPlansand/orforalistofproviders:
Provider CustomerServicePhoneNumber WebsiteProviderSearch
LSUFirstHealthPlan 1‐855‐346‐5781 www.lsufirst.org
OfficeofGroupBenefits 1‐800‐272‐8451 www.groupbenefits.org
BlueCrossBlueShieldofLouisiana 1‐800‐398‐4089 www.bcbsla.com/ogb
Vantage 1‐888‐823‐1910 www.vhp‐stategroup.com
HEALTHINSURANCEPLANOPTIONS
8
HEALTHINSURANCEPLANOPTIONS
9
HEALTHINSURANCEPLANOPTIONS
10
HEALTHINSURANCEPLANOPTIONS
11
Thiscomparisonchartisasummaryofplanfeaturesandispresentedforgeneralinformationonly.Itisnotaguaranteeofcoverage.Forfulldetailsofanyplanlisted,refertothePlanDocument,LSUisnotresponsiblefortheaccuracyofthisinformationasitissubjecttochange.
HEALTHINSURANCEPLANOPTIONS
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HEALTHINSURANCEPLANOPTIONS
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HEALTHINSURANCEPLANOPTIONS
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HEALTHINSURANCEPLANOPTIONS
15
TAX‐SAVERFLEXIBLEBENEFITPLANS
16
TypesofTax‐SaverPlansPremiumsOnlyPlan:IfyouenrollinthePremiumsOnlyPlan,yourpremiumsformedical,dental,vision,andPrudentiallifeinsurancemayautomaticallybedeductedpre‐taxfromyourpaycheckbeforeyourtaxableincomeisdetermined.ThereisnocosttoparticipateinthePremiumsOnlyPlan.ThereisnotaxliabilityonthemoneyputintothePremiumsOnlyPlan.IfyouenrollinthePremiumsOnlyPlanandwanttocancelanyofthebenefitsthatarebeingtax‐shelteredunderthisPlan,youmayonlydosoifyouexperienceaqualifyingevent(see“ChangesinParticipationduringtheYear”section).Ifyoudonotexperienceaqualifyingevent,youmayonlycancelyourparticipationduringAnnualEnrollmentforaJanuary1steffectivedate.FlexibleSpendingAccounts(FSA)Thisbenefitprovidesyouwiththeopportunitytosetasidetax‐exemptdollarsforout‐of‐pockethealthcareordependentcareexpensesincurredbyyouand/oryoureligibledependents.Youmustdetermineanannualamounttobewithheld,andyouwillbeprovidedwithaDebitCardpre‐loadedwiththisamountforyourusethroughoutthe2015PlanYear.Determinetheamounttobewithheldbyforecastingyourout‐of‐pockethealthcareand/ordependentcareexpensesfortheentirePlanyear,plusthegraceperiod(January1stthroughMarch15th).Thedeductionismadebeforetaxesarecomputed,thusmakingthespendingaccountdollarstax‐free.Toaccessthemoneyinyouraccount,youcaneitheruseyourFSADebitCardatthetimeofservice,oryoucanfileaclaimform‐requestingreimbursementforeligible,out‐of‐pocketexpenses,availableinyourHR/BenefitsDepartmentoronlineatwww.lsu.edu/benefits.TheMonthlyFeetoparticipateintheseplansis$5.10for12monthemployeesor$6.90for9monthemployees,whichincludesparticipationinboththeHealthcareSpendingAccountandtheDependentCareSpendingAccount,regardlessofcontributionsmadetoeitheraccount(subjecttominimum/maximumrequirements).
EligibilityAnyactiveemployeeoftheLSUSystemiseligibleforparticipationintheflexiblebenefitsplanprovidedthefollowing: Employedat75%offull‐timeeffortorgreater(atleast30hoursperweek).
Appointedforadurationofatleastonesemesteror120daysorgreater
EffectiveDateofCoverageYoumustenrollwithinyourfirstthirty(30)daysoffull‐timeemployment;yourcoveragewillbeeffectivethefirstofthefollowingmonthafteryourfirstfullcalendarmonthofemployment.
Forexample:DateofHire=August20thEffectiveDate=October1st
AnnualEnrollmentIfyouenrollinthePremiumsOnlyPlan,yourelectionautomaticallyrollsoverfromoneyeartothenext.ThiselectionmaybecancelledduringAnnualEnrollment(effectiveJanuary1st)orwithin30daysofaqualifyingeventifcancellationisconsistentwiththequalifyingevent.Sincecircumstancesaffectingout‐of‐pocketexpensesaregenerallysubjecttochangeeachyear,youmustre‐enrollintheFlexibleSpendingAccount(FSA)eachyearduringAnnualEnrollment.YourFSAenrollmentwillnotautomaticallycarryoverfromyeartoyear.Ifyouchoosenottore‐enrollduringAnnualEnrollment,youwillnotbeenrolledthefollowingyear.ChangesinParticipationDuringtheYearDuetothetaxadvantagesyouenjoyunderthisprogram,theInternalRevenueServiceimposessomerestrictionsonthechangesyoucanmakeduringthePlanYear.Onceyouhaveelectedtoparticipateinoneormoreoftheseaccounts,youcannotchangeorrevokethiselectionexceptduringAnnualEnrollmentorifyouexperienceaqualifyingevent.Aqualifyingeventonlyallowsforchangestoanexistingelection.IfyoudidnotmakeanelectiontoparticipateinthePlanduringAnnualEnrollmentorwithin30daysofemployment,aqualifyingeventwillnotallowforenrollmentinthePlanmid‐year.Theonlyexceptiontothisruleisincaseswherethereisalossofothercoverage.
TAX‐SAVERFLEXIBLEBENEFITPLANS
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Qualifyingeventsinclude:1. ChangesinFamilyStatus Changeinlegalmaritalstatus,suchasmarriage,deathofspouse,divorce,legalseparation,orannulment
Changeinnumberofdependents,suchasbirth,adoptionordeathofadependent
Changeinemploymentstatusofyouoryourspouse Aneventthatcausesadependenttosatisfyorceasetosatisfytherequirementsforcoverageduetoattainmentofageoranysimilarcircumstance
2. Changesrequiredbyjudgment,decreeororderresultingfromadivorce,legalseparation,annulmentorchangeinlegalcustody
3. EntitlementtoorlossofMedicareorMedicaid4. Significantcostorcoveragechanges5. FMLAqualifiedleavesofabsence6. Changesinadependentcareproviderorcostofdependentcare
ChangesinHealthCareFSAelectionsmaybeallowedforqualifyingeventsthatfallunderachangeinfamilystatus;however,nochangesareallowedtoHealthCareFSAsforotherqualifyingevents.Also,thechangeinyourelectionmustbeconsistentwithyourchangeinfamilycircumstancesandmustbemadewithin30daysofthedateofchange.HowFlexibleSpendingAccountsSaveYouMoneyAssuminganemployeehasanAnnualGrossIncomeof$30,000andisina15%taxbracket: WithFSA WithoutFSA
GrossMonthlyPayMinusFSAContribution
$2,500
‐$360
$2,500
N/ATaxableIncomeMinusTaxes
$2,140
‐$321
$2,500
‐$375NetIncomePlusFSAReimbursement
$1,819+$360
$2,125N/A
TotalMonthlyPay $2,179 $2,125Monthlytaxsavings=$54.00;Annualtaxsavings=$648.88.NOTE:Savingswillbeevengreaterforpersonsinhighertaxbrackets.
TypesofFlexibleSpendingAccountsHEALTHCARESpendingAccountMinimumContribution:$100MaximumContribution:$2,500QualificationsandEligibleExpenses:Manyhealthcareexpenses,suchasco‐paymentsanddeductibles,arenotfullyreimbursedbyhealth,dental,orvisioninsuranceandmaybeeligibleforreimbursementthroughaHealthCareFSA.ForadetailedlistofhealthcareexpensesthatmayqualifyforreimbursementundertheHealthCareSpendingAccount,contactyourBenefitsRepresentative.HowtoCalculateYourExpenses:Usetheworksheetavailableonpage20toestimateyourunreimbursedhealthcareexpenses.Butkeepthisinmind–IRSregulationsstatethatifallthemoneyintheaccountisnotusedbytheendofthePlanYear,theremainingbalancemustbeforfeited(knownasthe“Use‐it‐or‐Lose‐itrule”).Therefore,youshouldbeconservativeinyourestimates.ItisbettertoestimatelowratherthanhighsinceyouwillhavetoforfeitanymoneyleftintheaccountattheendofthePlanYear.AfterestimatingyourtotalhealthcareexpensesforthePlanYear,dividethisamountbytheappropriatenumberofpayperiodsleftinthePlanYeartocalculateyourper‐pay‐periodcontributionamount.Thisamountwillbedeductedonapre‐taxbasis.DEPENDENTCARESpendingAccountMinimumContribution:$100MaximumContribution:$5,000TherearefourconditionssurroundingparticipationinDependentCareSpendingAccounts:1. Ifyouaremarried,generallybothyouandyourspousemustbeemployedinordertousethisPlantoreimburseeligibledependentdaycareexpenses.
2. Yourcontributionmaynotexceedthelesserofyourincomeortheincomeofyourspouse.Forexample,ifyouearn$30,000ayearandyourspouseearns$2,000ayear,yourcontributionmaybenomorethan$2,000fortheyear.
3. Ifyouaremarriedandfileseparatereturns,yourmaximumcontributionis$2,500.IfyourspousehasaDependentCareAccountatworkandyoufileajointreturn,yourcombinedtotaltax‐shelterfordependentcarecannotexceed$5,000.
TAX‐SAVERFLEXIBLEBENEFITPLANS
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Qualifications:Youmayreceivetax‐exemptreimbursementsforthecareofcertainindividualsinyourhousehold,whichincludesyourdependentchildrenage12oryoungerandanyotherindividualswhoresidewithyouandwhorelyonyouforatleasthalfoftheirsupportorarephysicallyormentallyunabletocareforthemselves.EligibleExpenses:Eligibledependentcareexpensesarework‐relatedexpensesincurredforqualifyingindividuals.Theaccountisdesignedtoprovideataxsavingssothatyouandyourspousecanwork.Youarerequiredtoreportonyourannualfederalincometaxreturnthename(s)ofthoseprovidersofdependentcareexpenseswhoseexpenseshavebeenreimbursedtoyouthroughyourDependentCareAccount.EligibleDependentCareAccountexpensesinclude: Day‐carecostsforchildren12andyounger Schoolingcosts,notincludingfoodandclothing,foreitherprivateorpublicschools,forchildrennotyetinkindergarten
Ifexpensesforfoodandclothingcannotbeseparatedfromthetotalcostofchildcare,thentheyareeligibleexpenses
Before/after‐schoolcareforchildren12yearsoryounger
Babysittingandlicensedday‐carecentercosts Housekeepingservicesinyourhomethatincludedaycare
EldercareifdependentisclaimedonyourtaxreturnCostsoftransportation,overnightcamping,nursingcarefacilities,andtheschoolingcostsofchildreninthefirstgradeorabovearegenerallyineligibleexpenses.
FederalIncomeTaxCreditforDependentCareExpenses:Youcannotuseboththetaxcreditandthespendingaccountforthesamedependentcareexpenses.Further,expenseseligibleforthetaxcreditarereduced,onadollar‐for‐dollarbasis,bytheamountyoucontributetoadependentcarespendingaccount.Thistaxcreditisanamountsubtractedfromtheactualtaxyouowewhenyoufileyourannualtaxreturn.Determiningwhetheritismoreadvantageousforyoutoopenaspendingaccountorfileforthecreditattheendoftheyearwilldependonanumberoffactorsand,therefore,mustbemadeonanindividualbasis.Thefollowingprinciples,however,canbeusedasageneralguide. Asincomerises,thetaxcreditdecreases,whereasthetaxsavingsonpaymentsmadethroughtheDependentCareAccountbecomegreater,becauseyouareinahighertaxableincomebracket.
SavingsfromusingtheDependentCareAccountincludeSocialSecurity/Medicaretaxsavings.Thesesavingsdonotapplywiththetaxcredit.
TheamountthatcanbereimbursedthroughtheDependentCareAccountisnotloweredwhenyouhaveonlyonequalifyingdependent,ashappenswiththetaxcredit.Forexample,ifyouhaveonlyonechildbutmorethan$2,400ofdependentcareexpenses,moreexpensesarereimbursablethroughtheDependentCareAccount.
HowContributingtoaFlexibleSpendingAccountAffectsOtherBenefitsBenefitsreceivedthroughyourLongTermDisabilityandLifeInsurancearenotreducedeventhoughparticipatinginthePremiumsOnlyPlanmakesitappearthatyouaremakinglessmoney.Thesebenefitsarecalculatedonyourgrossearningsbeforepre‐taxdeductionsaremade.Similarly,yourretirementbenefitisnotaffectedbyyourFlexibleBenefitsparticipation.IfyouareoneofthefewwhopaySocialSecuritytax,pleasenotethatunderpresentlaw,yourearningsforthepurposeofdeterminingyourSocialSecuritybenefitswouldbereducedbycontributionsmadetothespendingaccountsorpremiumswithheldthroughthePremiumsOnlyPlan.Ifyouarecontributingtoasupplementalretirementaccount,beawarethatyourTax‐SaverFlexibleBenefitsPlancontributionswillnotreducethemaximumthatcanbecontributedtoatax‐shelteredannuity.WhatHappenstoMyMoneyWhen…?ItistheendoftheYear:IRSregulationsstatethatifallthemoneyintheaccountisnotusedbytheendofthePlanyear,theremainingbalancemustbeforfeited.Thispracticeiscommonlyreferredtoasthe“Use‐it‐or‐Lose‐itrule.”Anyremainingbalancescannotbepaidtoyouincash,carriedovertothenextPlanYearormadeavailabletoyouinanyotherway.Bybeingfamiliarwithyourlevelofexpensesandplanningcarefully,youcanminimizethisrisk.Pleaseseegraceperiodsectiononthenextpage.Iterminateemployment:youcancontinuetosubmitclaimsafteremploymentterminates.However,youmayonlysubmitclaimsforexpensesincurredonorbeforethelastdayofyouremployment,unlessyouchoosetomakeafter‐taxcontributionstoyourspendingaccount(s)throughCOBRAFSA.COBRAFSArequiresafter‐taxcontributionsinordertokeeptheaccountsactiveforreimbursementsthatmayoccurafterthelastdayofyouremployment.Ifyouterminateemploymentmid‐year,youmustfileclaimswithin
TAX‐SAVERFLEXIBLEBENEFITPLANS
19
120daysoftheendofthemonthinwhichyouterminateorwithin120daysofthePlanYear,whicheverissooner.GracePeriodTherewillbeagraceperiodimmediatelyfollowingtheendofthePlanYearforbothHealthCareandDependentCareSpendingAccounts.Thisextensionwillprovideparticipantsadditionaltimetoincurexpensesforreimbursementfromthepreviousyear’saccount.ThegraceperiodwillbeavailableaftertheendofthePlanYear(December31st)fromJanuary1throughMarch15thforreimbursementfromthepreviousyear’sspendingaccounts.Inordertofileclaimsduringthegraceperiod,areimbursementrequestformmustbesubmittedtotheFlexibleSpendingAccountadministratorwithinthespecifiedtimeframe.IfyousubmitclaimsthatareincurredbetweenJanuary1standMarch15th,theywillbereimbursedoutofyourpreviousyear’saccount,first.Onceyourbalanceisexhaustedfromyourpreviousyear’saccount,andifyou
havere‐enrolledinaflexiblespendingaccountforthefollowingyear,newclaimswillbereimbursedoutofthenextPlanYear’saccount.FilingFSAClaimsFilingaclaimisaseasyascompletingaclaimformandattachingareceipt.Timelyfilingofaclaimwillresultsinatimelyreimbursement.ItisanLSUSystemstandardtohavereimbursementwithintwoweeksoffiling.SeeyourHumanResourceDepartment/BenefitsRepresentativeformoredetailsaboutproceduresforfilingclaimsandapplicabledeadlines.AllclaimsincurredduringthePlanYearmustbesubmittedwithin120daysfollowingtheendofthePlanyearorbyApril30th,whicheverissoonerinordertobeeligibleforreimbursement.ThesameprocedureappliesforparticipantsterminatingduringaPlanYear(unlessCOBRAiselected).
TAX‐SAVERFLEXIBLEBENEFITPLANS
20
ExpenseEstimationWorksheetforUnreimbursedHealthcareCostsAspartofyourbenefitsprogram,youcandecidetodirectpartofyoursalarytotheHealthCareSpendingAccount.Thisaccountpermitsyoutopayforotherwiseunreimbursedhealthcareexpensesonapre‐taxbasis.Thisworksheetwillhelpyouestimatewhatexpensesyouarelikelytofaceinthenextplanyear.RemembertheUse‐It‐Or‐Lose‐ItRule.Beconservativeinyourestimates.Itisbettertoestimatelessratherthanmoresinceyouwillhavetoforfeitanymoneyleftinyouraccountattheendoftheplanyear.Foreachofthefollowingcategories,estimatetheamountofexpensesyouanticipatetoincurinthecomingPlanYearforwhichyoudonotexpecttobereimbursedbyyourinsurancecarrier.
Medicaldeductible
(Majormedicaland/oranyperadmissiondeductibles)... $_________________
Dentaldeductible................................
$_________________
Co‐payments:(Yourshareofexpensesafteranydeductibles,uptotheout‐of‐pocketlimit)
Medical..............................
$_________________
Pharmacy.............................
$_________________
Dental...............................
$_________________
Orthodontia............................
$_________________
VisionExams...........................
$_________________
RoutinePhysicalExams....................
$_________________
Otherplanneduncoveredexpenses.............
$_________________
TOTALESTIMATEDHEALTHCAREEXPENSES.............
$_________________
TheTotalEstimatedHealthCareExpensesfigureisthemaximumamountyoushouldconsiderputtinginyourHealthCareAccount.Thistotalamountwillbedividedbytheappropriatenumberofpayperiodstoreachaperpayperiodaccountdepositamount.Thedepositamountwillbedeductedonapre‐taxbasissavingyoutheamountoftaxyounormallywouldhavepaidonthedepositamount.
VOLUNTARYBENEFITS
21
EligibilityAnyactiveemployeeoftheLSUSystemiseligibleforhealthinsuranceprovidedthefollowing: Employedat75%offull‐timeeffortperpayperiod(avg.of30hours/week)orgreater
Appointedforadurationofatleastonesemesteror120daysorgreater
EffectiveDateofCoverageTimelyApplicant:Ifyouenrollwithinyourfirstthirty(30)daysoffulltimeemployment,yourcoveragewillbeeffectivethefirstofthemonthfollowingyourfirstfullcalendarmonthofemployment.LateApplicantIfyoudonotenrollintoaVoluntaryBenefitPlanwithinyourfirstthirty(30)daysoffull‐timeemployment,refertotheVoluntaryBenefitsectionthatyouareinterestedinforLateApplicantguidelines.LongTermDisability,LongTermCareandLSUTermLifeInsurancewillrequiremedicalunderwritingandapprovalifyouareenrollingasalateapplicant.
WhendoesCoverageforVoluntaryBenefitsend?YourcoverageunderaVoluntaryBenefitwillendontheearliestofthefollowingdates:
Onthelastdayofthemonthinwhichyouremploymentterminates(foracademicemployeeswhoterminateemploymentattheendoftheacademicyear,coverageextendsthroughSeptember30ofthesameyear.)
Whenyouarenolongereligibleforcoverage. Whenyouceasemakingtherequiredcontribution. WhentheLSUSystemterminatestheplan.
WhendoesCoverageforVoluntaryBenefitsendformydependent(s)?Yourdependent'scoverageunderaVoluntaryBenefitwillendontheearliestofthefollowingdates: Whentheindividualnolongermeetstheplan'sdefinitionofadependent.
Whentheemployee'scoverageterminates. Whentheemployeeceasestomaketherequiredcontributionfordependentcoverage.
WhentheLSUSystemterminatestheplan.
VoluntaryBenefit Vendor Policy#
AccidentProtectionPlan UnitedHealthcare 303972
AccidentalDeath&Dismemberment
UnitedHealthcare 303972
CriticalIllness UnitedHealthcare 303972
Dental UnitedHealthcare 903022
LongTermCare UNUM 100057
LongTermDisability UnitedHealthcare 303972
TermLifeInsuranceandAD&D UnitedHealthcare 303972
Vision UnitedHealthcare 903022
ACCIDENTPROTECTIONPLAN
22
Ifanaccidentoccurs,onoroffthejob,youmaybesurprisedattheexpensesthatcanaddup.Thisinsuranceisdesignedtoprotectyourfinancesbyhelpingyoupayforthoseunexpectedcostsassociatedwithanaccidentalinjury.This benefit covers a wide range of common injuries andcovered accidents. If you or a covered family memberbecome injured, Accident Protection will pay you a directcashbenefit.Theamountofmoneyyoureceivedependsonthetypeandseverityoftheinjuryandcanbeusedanywayyouchoose.
TheLSUSystempartnerswithUnitedHealthcaretoprovideyouandyourfamilywithvaluableAccidentProtectionataffordablerates.Youmayselectcoverageforyourself,yourspouseorchildren.Yourchild(ren)areeligibleforcoverageuptoage26.IfyouandyourspousearebothLSUSystememployees,onlyoneofyoumayenrollyourchildren.
HOWAREBENEFITSPAID?Belowisasummaryofthecashbenefit you could receive based on the type of servicereceived for an accident. In order to receive a benefit, youmust file a claimwithUnitedHealthcare.More servicesandtheirbenefitpayoutcanbelocatedinthePlanDocument.
DoctorVisit‐$40 EmergencyRoom‐$100 GroundAmbulance‐$200 HospitalAdmission‐$800 Coma‐$10,000
Coveragelevel: MonthlyPremium:EmployeeOnly: $9.15Employee&Spouse: $13.60Employee&Children: $12.36Family: $16.81
ForAdditionalInformationcallUnitedHealthcareat1‐888‐299‐2070orvisithttp://www.brainshark.com/UHCSB/LSU_Accident.YoucanalsoscantheQRcodelistedbelowonyoursmartphoneortablet.
ACCIDENTALDEATH&DISMEMBERMENTINSURANCE(AD&D)
23
Anaccidentthatendsindeathordisablinginjuryhasadevastatingeffectonthelivesofyourlovedones.Thelossofafamilywageearnerputsstraininafamilyandraisesconcernsastohowtheywillmanagefinancially.Evenifyouareunmarried,remainingfamilymemberscouldbeleftwithfulfillingyourfinancialresponsibilitiesortakingcareofyou.TheLSUSystempartnerswithUnitedHealthcaretoprovideyouandyourfamilywithvaluableAD&Dinsuranceataffordablerates.Youmayselectcoverageforyourself,yourspouseorchildren.Yourchild(ren)areeligibleforcoverageuptoage26.IfyouandyourspousearebothLSUSystememployees,onlyoneofyoumayenrollyourchildren.LateApplicantforAD&D:Yourinsurancewilltakeeffectonthefirstdayofthemonthfollowingthedateyouenroll,providedtherequiredpremiumhasbeenpaid.Asaneligibleemployee,youcanenrollyourselfand/oryourdependentsatanytime.Familymembersmaybeinsuredforaportionofyourprincipalsum: Spouse=50%yourprincipalsum,or40%ifyouhaveeligiblechildren
Eligiblechildren=15%yourprincipalsumor10%ifyourspouseiseligibleforcoverage
ReductionInBenefits:yourprincipalsumwillreducetothepercentageoftheoriginalbenefitshownbelow: Atage70,thebenefitreducesto82.5% Atage75,thebenefitreducesto57.5% Atage80,thebenefitreducesto37.5% Atage85andolder,thebenefitreducesto20%IfyouelectedFamilycoverage,yourspouseandchildren’sbenefitwillreducefromtheprincipalsumamountoftheinsuredemployee.
Whendoescoverageend?Aslongastheplanisinforce,youareaneligibleemployee,andyoupayyourpremium,yourcoverageremainsineffect.Yourfamilymemberswillremaininsuredaslongastheyareeligible,youarecoveredandtheirpremiumispaid.Handicappedchildrenshallremaininsured,regardlessofage,aslongastheycontinuetobehandicappedandyourcoverageremainsinforce.HOWAREBENEFITSPAID?Benefitswillbepaidforanyofthelossesthatoccurasaresultofaninjurylisted: Life100% Bothhandsorfeet100% Entiresightofbotheyes100% Onehandoronefoot50% Entiresightofoneeye50%Lossmustoccurwithin365daysoftheaccident.Ifmorethanonelossresultsforanyoneaccident,wewillpayonlytheonelargestapplicablebenefitamount.OTHERBENEFITS:CommonCarrierHazardBenefit:Fullcoverageisprovidedforairtravelasapassenger(butnotasapilotorcrewmember)whileridinginanyaircraftusedforthetransportationofpassengers,exceptanaircraftowned,operatedorleasedbyorbehalfoftheLSUSystem.AdditionalBenefits: DaycareBenefit TravelAssist EducationBenefit Repatriation Seatbelt/Airbag Exposureand
DisappearanceForAdditionalInformationcallUnitedHealthcareat1‐888‐299‐2070orvisithttp://www.brainshark.com/UHCSB/LSU_ADD.YoucanalsoscantheQRcodelistedbelowonyoursmartphoneortablet.
BenefitAmounts&Premiums
BenefitAmount
EmployeeOnly
Family BenefitAmount
EmployeeOnly
Family
$27,500 $0.83 $1.24 $165,000 $4.95 $7.43$55,000 $1.65 $2.48 $220,000 $6.60 $9.90$82,500 $2.48 $3.71 $275,000 $8.25 $12.38$110,000 $3.30 $4.95 $300,000 $9.00 $13.50
CRITICALILLNESSINSURANCE
24
TheCriticalIllnessbenefitisdesignedtohelpprotectyouandyourfamily’sfinancialhealth.CriticalIllnessinsurancecanhelpfillafinancialgapifyouorafamilymemberexperiencesasevere,life‐threateningillness,suchascancer,heartattack,andmajororgantransplant.Upondiagnosisofacoveredillness,youcanreceivealump‐sumbenefit.Coveredillnessesincludethefollowing:
Category1(Cancer)—Cancer‐100%;CarcinomainSitu‐25%
Category 2 (Cardiovascular) —Heart Attack,Stroke, Heart Transplant, Ruptured Aneurysm‐100%;CoronaryArteryBypass‐25%
Category 3 (Other)—Chronic Renal Failure,Paralysis, Severe Burns, Severe Brain Damage,Coma,MajorOrganTransplant‐100%
You are eligible to receive payment one time for eachcategory listed.There isareoccurrence/restorationrideryoumaybeeligibleforafter12months.Forexample,ifyoureceive a lump sum payment due to a critical illnessdiagnosisandthenarelaterdiagnosedwithanothercriticalillness in the same category, this restorationbenefitwouldpayanadditionalone‐timebenefitforthesamecategory.
Thisinsuranceplanalsoprovidesawellnessbenefit.Itwillpay out $100 per year for certain health‐screening tests,such as mammograms, colonoscopies, and chest x‐rays. AmoredetailedlistcanbefoundinthePlanDocument.
Employeeshavetwooptionswhenpurchasingthiscoverage:A low option of $10,000; and a high option of $20,000.Spousescanbecoveredfor50%oftheemployeescoverageateither$5,000or$10,000.Thechild(ren)benefitis$2,500.
CoverageAmounts
Employee‐$10,000or$20,000 Spouse‐$5,000or$10,000 Child(ren)‐$2,500
Rates foremployeeandspousearebasedon theageof theemployee. The child(ren) rate is $0.56 for $2,500 ofcoverage. To calculate yourmonthly premium, look for theemployee age band and coverage amount you would like.Addspouserateandchild(ren)rate,ifapplicable.
AgeBands $5,000 $10,000 $20,000<24 $1.85 $3.70 $7.4025‐29 $2.92 $5.84 $11.6830‐34 $3.65 $7.29 $14.5835‐39 $4.89 $9.77 $19.5440‐44 $6.90 $13.80 $27.6045‐49 $9.87 $19.74 $39.4850‐54 $13.79 $27.58 $55.1655‐59 $19.03 $38.05 $76.1060‐64 $26.42 $52.83 $105.6665‐69 $35.45 $70.90 $141.8070‐74 $49.31 $98.62 $197.2475> $62.72 $125.44 $250.88
ForAdditionalInformationcallUnitedHealthcareat1‐888‐299‐2070orvisithttp://www.brainshark.com/UHCSB/LSU_CIPP.YoucanalsoscantheQRcodelistedbelowonyoursmartphoneortablet.
DENTALINSURANCE
25
ThisPlanisdesignedtohelpyoumeettheexpenseofdentalcarebyprovidingabroadrangeofbenefitsforyouandyourfamily.ThePlanencouragespreventivedentalcareandprovidespaymentforcovereddentalexpensesforyouandyoureligibledependents.ThePlan,offeredbyUnitedHealthcare,combinestraditionaldentalinsurancewiththefollowingfeatures:freedomtoselectanylicenseddentist,simpleclaimsprocessing,andatoll‐freetelephonenumber.ThesummaryisdesignedtogiveyouanoverviewofthemajorpointsofthePlan.ThePlanisgovernedbyalegaldocument.IntheeventofaconflictbetweenthissummaryandthePlanDocument,thePlanDocumentwillserveasthegoverningdocument.Youmayselectcoverageforyourself,yourspouseorchildren.Yourchild(ren)areeligibleforcoveragefrombirthuptoage26.IfyouandyourspousearebothLSUSystememployees,onlyoneofyoumayenrollyourchildren.LateApplicantIfyoudonotenrollwhenfirsteligible,youmayenrollduringannualenrollmentinOctoberforaneffectivedateofJanuary1.FreedomtoChooseYourProviderWiththisPlan,youhavethefreedomtochooseanyprovideryouwishwithoutpenalty.However,asignificantnumberofdentistshaveagreedtoprovideservicestoLSUSystememployeesatnegotiatedlowerrates.ThesePreferredProvidersaremembersoftheUnitedHealthcarePPO20network.IfyouchooseadentistwhoisinnetworkwithUntiedHealthcare,
youwillnotpaymorethantheUsualandCustomary(U&C)feeallowance.Insomecases,youmaypayless.Seethebenefitsummaryonthenextpageformoredetails.WhatBenefitsArePayableUnderthePlan?Coveredexpensesincludeonlyusualandcustomary(U&C)chargesthatyouoryourcovereddependentsincurforservicesandsuppliesinanyofthethreetypesofservices–Preventive,Basic,andMajor.WhenthePlandisallowsaportionofthechargefromyourdentist,itmeansthatyourdentist'sfeeisabovetheU&Cfeeallowance,arareoccurrence.MostdentistsacceptthePlan'sfeeschedule,butdentistsarefreetochargeahigherfee,soyoumayberesponsibleforchargesabovetheU&Crate.WhatIfMyFamilyHasOtherDentalCoverage?Ifyouoryourfamilymembersareeligibletoreceivebenefitsunderanothergroupplan,benefitsunderthispolicywillbecoordinatedwiththebenefitsfromanyofyourotherplanssothatnotmorethan100percentoftheallowableexpensesincurredwillbepaid.PlanOptionsUnitedHealthcareandLSUhaveteameduptocreateadentalplanwithoptionstofitdifferentneeds.Youhavethechoiceofoneoftwoplans:Option1EnhancedorOption2Basic.Seenextpageforplandetailsandrates.Foradditionalinformationcall1‐877‐816‐3596orvisitwww.myuhcdental.com.Youcanalsovisithttp://www.brainshark.com/UHCSB/LSU_DentalorscantheQRcodelistedbelowonyoursmartphoneortablet.
DENTALINSURANCE
26
EnhancedPlanTheEnhancedPlanofferscomprehensivedentalcoverageinaneasytouseformat.ThePlanwillcoverapercentageofU&Ccharges,including100%ofPreventiveclaims.Asstatedonthepreviouspage,alldentistsinnetworkhaveagreedtohonorthenegotiatedrates,andmostdentistsnotinthenetworkchargesimilarly,helpingyoutolimityourout‐of‐pocketcosts.Orthodontia,foradultsandchildren,isalsoincludedintheEnhancedPlan,makingitagoodchoiceforfamilieswithmoreextensivedentalneeds. WhatIsTheDeductibleAmount?ThereisnodeductibleunderthisPlan.WhatIsThePlanMaximum?Themaximumamountanycoveredindividualcanreceiveindentalbenefitsforthe2015
calendaryearis$1,500.Orthodonticbenefitsdonotapplytotheannualmaximumandhavea$1,500lifetimemaximum.Coveragelevel: MonthlyPremium:EmployeeOnly: $32.87Employee&Spouse: $64.33Employee&Children: $78.19Family: $109.62 TypeofBenefit: Covered%ofExpenses*:PreventiveProcedures 100%ofMaximumAllowanceBasicProcedures 80%ofMaximumAllowanceMajorProcedures 50%ofMaximumAllowanceOrthodontia 50%ofMaximumAllowance
BasicPlanTheBasicplanisdesignedwithtwogoalsinmind:topromotegooddentalhygienethroughpreventivecareandtoprovideyouwiththedentalcareyouneedatalowcost.Theplanpays100%oftheU&CfeeallowanceforPreventiveServicesandfeaturesabenefitscheduleforallotherservices.Thebenefitscheduleletsyouknowup‐front,infixeddollaramountshowmuchthePlanpaysforcoveredBasicandMajorservices.Tousetheseschedules,checkyourdentist'sfeeandthendeterminehowmuchthePlanpaysaccordingtotheScheduledAmount.ThePlanpayseithertheScheduledAmountortheactualamountchargedwhicheverislower.YouareresponsibleforanychargesabovetheScheduledAmount.WhatIsTheDeductibleAmount?ThereisnodeductibleforPreventiveservices.ForBasicandMajorservices,yourdeductibleamountis$50perperson,upto$150perfamily.Thedeductibleamountappliesseparatelytoeachcoveredperson.
WhatIsThePlanMaximum?Themaximumamountanycoveredindividualcanreceiveindentalbenefitsforthe2015calendaryearis$1,500.
Coveragelevel: MonthlyPremium:EmployeeOnly: $17.88Employee&Spouse: $33.60Employee&Children: $46.45Family: $62.16
TypeofBenefit: Covered%ofExpenses*:PreventiveProcedures 100%ofUsualandCustomaryBasicProcedures DiscountbasedonFeeScheduleMajorProcedures DiscountBasedonFeeScheduleOrthodontia NotCoveredonthisPlan
LONG‐TERMCAREINSURANCE
27
LongTermCare(LTC)insuranceisimportantforpeopleofallagesiftheywanttopreservefinancialsecurityandindependenceintheeventofanextendeddisability.Anddespitepopularmisconceptions,theneedforlonger‐termcareisn'trestrictedtotheelderly,becausemanyworking‐ageadultshavedisablinginjuriesandillnessesaswell: Morethanhalfoflong‐termcareclaimssubmittedtoUnumareforpeopleunderage65.Theaverageageforthoseclaimantsis54.1
20millionAmericansareexpectedtoneedlong‐termcareservicesby2030.2
Thedemandforlong‐termcareservicesisprojectedtodoubleby2040.3
Becausewomengenerallyoutlivemenbyseveralyears,theyfacea50percentgreaterlikelihoodthanmenofenteringanursinghomeafterage65.4
Americanswhoneedlong‐termcarehavemorechoicestoday.Manyareabletoremainintheirhomesandstillreceivethecaretheyneed.Ifyoubecomedisabledforanyreasonandcouldn'tliveindependently,howwouldyoupayforthecareyouneed?Thefinancialimpactoflong‐termcareissignificant,nomatterwhereitisprovided,andgovernmentprogramsdon'talwayspayforservices: Thenationalaveragecostofaprivateroominanursinghomeisabout$70,000ayearandanaveragestayis24to26months.5
Theaveragehourlyrateforahomehealthaideis$25.Basedonthisrate,fourhoursofhomehealthaideservicesdailywouldtotalabout$36,500ayear.6
Theaveragebaserateforaprivateroominassistedlivingcareisabout$33,300peryear.7
Medicalinsurancedoesnotcovermostlongtermcarecost.Medicareonlycoversshort‐term,skillednursinghomecarefollowinghospitalization,andonlypaysforshort‐termassistanceforcareathome,andMedicaidonlypaysafteryouhavedepletedyourpersonalassets.
LateApplicantIfyoudonotenrollwhenfirsteligible,youmayapplyatanyothertimeduringtheyearbutwillhavetocompleteanEvidenceofInsurabilityapplicationandbeapprovedbyunderwritingbeforecoveragewillbecomeeffective.WhoCanICover?Employees,retirees,yourspouse,yourparentsand/orgrandparentsandyourspouse'sparentsand/orgrandparentsmayenrollinthisplan.Coverageforretirees,yourparentsorgrandparentsiscontingentuponthemcompletinganEvidenceofInsurabilityapplicationandbeingapprovedbyunderwriting.ForAdditionalInformationonLongTermCarebenefitsandpricing,contactyourlocalHR/BenefitsRepresentative.
1Unuminternaldatafrom2006inforceblockofnearly1millionpolicyholders,October2007.2"LongTermCareFinancing:AreAmericansPrepared?"TestimonybeforetheU.S.SenateSpecialCommitteeonAging,March9,2006.And,theAmericanAssociationforLongTermCareInsurance,"2008LTCISourcebook,"February20083RTIInternational,"TheNICCompendiumProject:AGuidetoLong‐TermCareProjectionandSimulationModels,"April2008.4HIAA,"GuidetoLong‐TermCareInsurance,"©20025,6,7GeorgetownUniversity,LongTermCareFinancingProject,"NationalSpendingforLong‐TermCareFactSheet,"January2007
LONG‐TERMDISABILITYINSURANCE
28
Weinsureourcars,ourhomes,andevenourhealth.Whywouldn'tweinsureourincome?Considerthesesoberingstatistics: Everysecond,adisablinginjurychangessomeone’slife.¹
Backpain,heartdiseaseandotherillnessesarethereasonsforamajorityoflong‐termworkabsences²
Theactualoddsofbecomingdisabledforaworkerenteringtheworkforcetodayareabout30percent.3
Workers’Compensationkicksinonlyintheeventofawork‐relatedaccidentorinjury,andabout90percentofseriousdisabilitiesaren’trelatedtowork.4
TheaveragemonthlySocialSecuritybenefitforadisabledworkerin2010was$1,065.5.
Ifyousufferanextendedillnessorinjuryandcan'twork,howwillyoupayyourbills?LongTermDisability(LTD)coveragecanhelp.Ifyoubecomedisabledandqualifyforbenefits,LTDcoveragewillpayyou60%ofyourmonthlysalaryuptoamaximumof$12,000permonth.TheLSUSystempartnerswithUnitedHealthcaretoprovideLTDcoveragetohelpyoucontinuetomeetyourfamily’sfinancialneedsintheeventanillnessorinjurypreventsyoufromworking.WhoCanElectLTDCoverage?ThiscoverageisonlyofferedtoanEligibleEmployeeoftheLSUSystem.Spouseanddependentcoverageisnotavailable.EligibilityAnyactiveemployeeoftheLSUSystemiseligibleforhealthinsuranceprovidedthefollowing: Employedat75%offull‐timeeffortperpayperiod(avg.of30hours/week)orgreater
Appointedforadurationofatleastonesemesteror120daysorgreater
LateApplicantIfyoudonotenrollintoLTDwithinyourfirst30daysofemployment,youmayapplyatanytime,butmustcompleteanEvidenceofInsurabilityApplicationandbeapprovedbyunderwritingbeforecoveragewillbecomeeffective.HowMuchCoverageisAvailable?Thisbenefitcovers60%ofyourmonthlybasesalaryuptoamaximumof$12,000permonth.Calculateyourdisabilitybenefitasfollows:________________x0.60=__________________MonthlySalary MaximumBenefit
PleasenotethatdisabilitybenefitsthroughUnitedHealthcaremaybeadjustedforothersourcesofincome.WhenAreDisabilityBenefitsPaid?Disabilitybenefitsarepaidifyouareconsidereddisabledandyousatisfyawaitingperiodof90daysandtheexhaustionofsicktime.HowIsDisabilityDefined?UnitedHealthcareusesadualdefinitionofdisability.Youareconsidereddisabledandeligibleforbenefitsifbothofthefollowingqualifiersismet: OccupationQualifierYouareconsidereddisabledif,duringthewaitingperiodandthefirst24monthsthereafter,youareunabletoperformthematerialandsubstantialdutiesofyourregularoccupationduetoadisability.Afterthisperiod,youqualifyforbenefitsifyoucontinuetobeunabletoperformanyoccupationforwhichyouarequalifiedbyeducation,trainingorexperience.
EarningsQualifierYouareconsidereddisabledifyouareworkinginanoccupationforwhichyouarequalifiedbyeducation,trainingorexperience,butareunabletoearnmorethan80%ofyourpre‐disabilityearningsduetoaninjuryorsickness.
WhatIfICanWorkDuringMyDisability?Totaldisabilityisnotrequiredduringthewaitingperiod.Youcancontinuetoworkperiodicallyforupto15dayswithoutbeginningthewaitingperiodagain.HowLongWillIReceiveBenefitsifIBecomeDisabled?Benefitswillbepaiduntilyouarenolongerconsidereddisabled,oruntilyoureachthemaximumpayableperiod.AgeatDisability MaximumPayablePeriod
Age59orless toSocialSecurityNormalRetirementAge(SSNRA)
60 60months
61 48 months
62 42months
63 36months
64 30months
65 24months
66 21months
67 18months
68 15months
69+ 12months
LONG‐TERMDISABILITYINSURANCE
29
IsThereaBenefitforMentalHealthorSubstanceAbuse?Uponsatisfyingthewaitingperiod,benefitsarepayableformentalhealthorsubstanceabuseclaimsfor24months.Confinementinahospitalorinstitutionlicensedtoprovidecareandtreatmentformentalillnesswillnotbecountedaspartofthementalhealthlimitation.AreThereAnyExclusions?LTDbenefitsarenotpayablefordisabilitiesresultingfrom: Declaredorundeclaredactsofwar Suicideorself‐inflictedinjuryorsickness Commissionoranattempttocommitafelony Pre‐existingconditions.Ifyouhaveaconditionforwhichyoureceivedmedicaltreatmentoradviceinthe3monthspriortoyourcoverageeffectivedate,itisconsideredpreexistingandwillbeexcludedinthefirst12monthsofcoverage.Following12consecutivemonthsofcoverage,suchconditionswillnolongerbeconsideredpre‐existing.
InnovativePlanFeaturestoProtectYouToensureyouhavetheprotectionyouneedintheeventofadisability,thefollowingbenefitsandservicesareincludedinLTDcoveragethroughUnitedHealthcare. RecurrentDisabilityThisbenefitgivesyoutheabilitytoreturntoworkwithoutworryingaboutrestrictionsshouldyourdisabilityrelapse.Ifyoureturntoworkandbecomedisabledagainduetothesamesicknessorinjurywithinsixmonths,youwillnothavetosatisfyanewwaitingperiodinordertoreceiveLTDbenefits.
WaiverofPremiumIfyoubecometotallydisabledandarereceivingbenefitsunderthepolicy,yourpremiumsarewaived.Keepinmindyoumustcontinuetopaypremiumsduringthewaitingperiod.
WorkIncentiveBenefitThisbenefitisintendedtofacilitateacomfortableandproductivereturntowork.Forupto12monthsafteryoureturntowork,yourdisabilitybenefitsplusyoursalarymayequal100%ofyourpre‐disabilityearnings.
SurvivorBenefitIfyouweretodieaftersatisfyingthebenefitwaitingperiodorafterreceivingadisabilitybenefit,thesamebenefitispaidtoyourbeneficiaryina3monthlumpsum.
CatastrophicDisabilityBenefitIfyoubecomedisabledtotheextentthatyoucannottakecareofyourself(feeding,bathing,toileting,transferring,incontinenceand/ordressing),UnitedHealthcarewill
increaseyourmonthlybenefitby10%.Moreimportantly,thisadditionalbenefitwillnotbeadjustedforothersourcesofincome.Inaddition,UnitedHealthcarewillprovidetrainingandrespiteservicesforthefamilymemberwhoisservingasyourcareprovider.
SocialSecurityAssistanceWhennecessary,UnitedHealthcarewillprovideanadvocatetohelpyouapplyforandsecureSocialSecuritydisabilitybenefits.UnitedHealthcarewillthencoordinatebenefitswithSocialSecuritypayments.Themaximumamountpayabletoyouindisabilitypaymentswillbereducedbyyourfamily'sSocialSecurityin5ofthelast10yearsyoumaynotbeeligibletoreceiveSocialSecurityDisabilitybenefits.PleasecontactSocialSecuritydirectlytodetermineyourbenefiteligibilitybycalling1‐800‐772‐1213.
QualityCoverageatanAffordablePriceYourpremiumisbasedonyoursalary.Calculateyourpremiumasfollows:____________________x0.00482=_______________________MonthlySalary MonthlyCost Example:$3,000___x0.00482=$14.46___MonthlySalary MonthlyCost ForAdditionalInformationcallUnitedHealthcareat1‐888‐299‐2070orvisithttp://www.brainshark.com/UHCSB/LSU_Disability.YoucanalsoscantheQRcodelistedbelowonyoursmartphoneortablet.
TERMLIFE&ACCIDENTALDEATHANDDISMEMBERMENTINSURANCE‐LSU
30
TheLSUSystempartnerswithUnitedHealthcaretoprovideTermLifeInsuranceandAD&D.ThisInsuranceprovidesaffordablefinancialsecurityforyourlovedones,especiallywhenyourfamilydependsonyourincome.WhoCanElectTermLifeInsuranceandAD&DCoverage?AllFull‐TimeActiveEmployees(“Employees”),excludingtemporary,leasedorseasonalandtheirspousesand/ordependents.Full‐TimeEmploymentisanemployeeat75%effortorgreaterperpayperiod(average30hoursperweek),orgreater,withanappointmentof120daysoroneacademicsemester.Employeeswhoareonsabbaticalbutstillreceivingpayarealsoeligible.LateApplicantIfyoudonotenrollintoLifeInsurancewithinyourfirst30daysofemployment,youmayapplyatanytime,butmustcompleteanEvidenceofInsurabilityApplicationandbeapprovedbyUnitedHealthcarebeforecoveragewillbecomeeffective.HowMuchVoluntaryLifeandAD&DInsurancecanIpurchase?Employee: Youareguaranteedthelesserof$500,000or5timesBasicAnnualEarningsifyouenrollwithinyourfirst30daysofemployment.YoumustpurchaseVoluntaryLifeandAD&DInsuranceinincrementsof$10,000.
Themaximumamountyoumaypurchasecannotexceed$1,000,000.Anyamountspurchasedover$500,000willrequireyoutoprovideevidenceofgoodhealththatissatisfactorytoUnitedHealthcarebeforetheexcesscanbecomeeffective.
Ifelected,yourAD&Dpolicywillbeequaltothetermlifeinsuranceamount.
Spouse: IfyouelectVoluntaryLifeorAD&DInsuranceforyourself,youmaychoosetopurchaseSpouseVoluntaryLifeandAD&DInsuranceinincrementsof$5,000,toamaximumof$250,000.
Yourspouseisguaranteedthelesserof$100,000or50%oftheamountelectedbyyouifyouenrollhim/herwithin30daysofyouremploymentorwithin30daysfromyourdateofmarriage.
Foranyamountspurchasedover$100,000,yourspousewillneedtoprovideevidenceofgoodhealththatissatisfactorytoUnitedHealthcarebeforetheexcesscanbecomeeffective.
Ifelected,yourspouse'sAD&Dpolicywillbeequaltothetermlifeinsuranceamount.
Children: YoumaychoosetopurchaseChild(ren)VoluntaryLifeInsurancecoverageintheamount(s)of$5,000,$10,000,$15,000or$20,000foreacheligibledependentchild‐nomedicalinformationrequired.Dependentchildrenarelivebirthuptoage26.
YoumaynotelectCoverageforyourChildifyourChildisanactivememberofthearmedforcesofanycountryorinternationalauthority.
CanIkeepmyLifecoverageifIleavemyemployerorretire?Yes,subjecttothecontract,youhavetheoptionof:ConvertingyourgroupLifecoveragetoyourownindividualpolicy(policies).Ifyouleaveyouremployerorretire,PortabilityisanoptionthatallowsyoutocontinueyourLifeInsurancecoverage.ThisoptionallowsyoutocontinuealloraportionofyourLifeInsurancecoverageunderaseparatePortabilitytermpolicy.Portabilityissubjecttoaminimumof$5,000andamaximumof$500,000anddoesincludecoverageforyourSpouseandChild(ren). Tobeeligible,youmustterminateyouremploymentpriortoSocialSecurityNormalRetirementAge.
ToelectPortability,youmustapplyandpaythepremiumwithin31daysoftheterminationofyourLifeInsurance.
EvidenceofInsurabilitywillnotberequired. DependentSpousePortabilityissubjecttoamaximumof$50,000.
DependentChildPortabilityissubjecttoamaximumof$10,000.
DoIstillpaymyLifeInsurancepremiumsifIbecomedisabled?Ifyoubecometotallydisabledbeforeage60andyourdisabilitylastsforatleast3months,yourLifeInsurancepremiummaybewaived.WhataremybenefitsundertheAD&Dcoverage?AD&Dprovidesbenefitsduetocertaininjuriesordeathfromanaccident.Thecoveredinjuriesordeathcanoccurupto365daysafterthataccident.TheInsurancepays: 100%oftheamountofcoverageyoupurchaseintheeventofanaccidentallossoflife,twolimbs,thesightofbotheyes,onelimbandthesightofoneeye,orquadriplegia
75%forparaplegiaortriplegia(paralysisofthreelimbs) one‐half(50%)foraccidentallossofonelimb,sightofoneeye,orspeechorhearinginbothears,speechandhearinginbothearsorhemiplegia
one‐quarter(25%)foraccidentallossofthumbandindexfingerofthesamehandoruniplegia
TERMLIFE&ACCIDENTALDEATHANDDISMEMBERMENTINSURANCE‐LSU
31
Yourtotalbenefitforalllossesduetothesameaccidentwillnotbemorethan100%oftheamountofcoverageyoupurchase.WhatistheLivingBenefitsOption?Ifyouarediagnosedasterminallyillwitha12monthorlesslifeexpectancy,youmaybeeligibletoreceivepaymentofaportionofyourLifeInsurance.TheremainingamountofyourLifeInsurancewouldbepaidtoyourbeneficiarywhenyoudie.Areanyresourcesavailableforbeneficiaries?UnitedHealthcareprovidesgrief,legalandfinancialcounselingtobeneficiaries(thepersonorpersonsorlegalentitywhoreceivesthebenefitpaymentifyoudiewhileyouarecoveredbythepolicy).UnitedHealthcareoffersthisprogramatnocosttobeneficiariesofanyofitsgrouplifeor
accidentpolicies.Servicesinclude:unlimitedphonecontact,assessmentandactionplanning,uptofiveface‐to‐facesessions,referrals,andmore.ForAdditionalInformationpleasecallUnitedHealthcareat1‐888‐299‐2070orvisithttp://www.brainshark.com/UHCSB/LSU_Life_ADD.YoucanalsoscantheQRcodelistedbelowonyoursmartphoneortablet.
TermLifeInsurancePremiums
AgeEmployeeRate/$10,000
SpouseRate/$5,000
<25 $0.32 $0.16
25‐29 $0.39 $0.20
30‐34 $0.45 $0.23
35‐39 $0.57 $0.29
40‐44 $0.71 $0.36
45‐49 $1.00 $0.50
50‐54 $1.70 $0.85
55‐59 $2.60 $1.30
60‐64 $3.94 $1.97
65‐69 $6.50 $3.25
70‐74 $12.23 $6.12
75‐79 $20.46 $10.23
80‐84 $36.33 $18.17
85+ $68.66 $34.33
TermLifeInsuranceforChildren
Coverageamountforeacheligibledependentchild
$5,000 $10,000 $15,000 $20,000
MonthlyPremium $0.35 $0.70 $1.05 $1.40
AD&DCoverageAmountEqualtoTermLifeInsuranceCoverage
EmployeePremium TermLifeCoverage/10,000*0.31
SpousePremium TermLifeCoverage/5,000*0.16
Child(ren)Premium TermLifeCoverage/5,000*0.16
TERMLIFE&ACCIDENTIALDEATH&DISMEMBERMENTINSURANCE‐STATE
32
Term‐LifeInsuranceOfferedThroughPrudential
Allemployeesappointedat75%effortandaboveareeligibletoparticipateintheGroupLifeInsurancePlan.TheplanisunderwrittenbythePrudentialInsuranceCompany.TheStatepaysforhalfofthelifeinsurancepremiumfortheemployeeand/orretiree,andcoverageisgrantedonaguaranteedbasistoemployeeswhoenrollduringtheirfirst30daysofeligibility.Lateenrolleesaresubjecttounderwritingapproval,andcoverageiseffectivethefirstofthemonthfollowing30daysofemployment.Thepremiumsarecollectedonemonthinadvance,andpremiumsfortheemployeelifecoveragecanbedeductedonabefore‐taxbasisbyenrollingintheCafeteriaPlan.
AccidentalDeathandDismembermentbenefitsareincludedforallactiveemployeesunderage65,andifyouremploymentends,youmayreceivesimilartermlifeinsuranceundertheportabilityprovision,providedyouareunderage70.AccidentalDeathandDismembermentcoverageendsuponterminationofemploymentorretirementatage70.
CoverageReductions:
OnJuly1stoftheyearyouattainage65,theamountofinsuranceisreducedby25%.
OnJuly1stoftheyearyouattainage70,theamountofinsuranceisreducedby50%fromtheoriginalamount.
AccidentalDeathandDismembermentwillendatage70oruponterminationofemployment/retirement.
EmployeeswhoparticipateineitherthebasicorsupplementallifeinsuranceprogramsareeligibletoparticipateinthedependentlifeinsuranceofferedasapartoftheStateEmployee'sGroupBenefitsProgram.
Ratesfordependentlifeareaflatrate,regardlessofthenumberofdependentscoveredbytheemployee.
Employeeisresponsibleforentirepremium.
Eligibledependentchildrenthroughage25.
Legalspouse.
CoverageLevelsandRates
Coverage Type Level of Coverage Cost Per Month
BASIC PLAN
Employee Coverage $5,000.00 $2.70
Dependent Coverage
Option 1: $1,000 for Spouse & $500 for each eligible child Option 2: $2,000 for Spouse and $1,000 for each eligible child
$.98
$1.96
BASIC PLUS SUPPLEMENTAL PLAN
Employee Coverage
To calculate the face amount, multiply annual salary times 1 1/2 and round up. If the result is less than $21,000, add $1,000. (Maximum Coverage is $50,000)
$.54 per $1,000
Dependent Coverage
Option 1: $2,000 for Spouse and $1,000 for each eligible child Option 2: $4,000 for Spouse and $2,000 for each eligible child
$1.96
$3.92
VISIONINSURANCE
33
UnitedHealthcaremeetsthevisioncareneedsofyouandyourfamily,includingexams,lenses,framesandcontacts.Youmayselectcoverageforyourselfandyourdependents.Yourchild(ren)areeligibleforcoverageuptoage26.IfyouandyourspousearebothLSUSystememployees,onlyoneofyoumayenrollyourchildren.LateApplicantforVision:Ifyoudonotenrollwhenfirsteligible,youmayenrollduringannualenrollmentinOctoberforaneffectivedateofJanuary1.Real,RepeatableSavingsMembersreceivereal,dependablevalueonexams,lenses,framesandcontactswithmanyparticipatingproviders.Accessthecareyourfamilyneedsthroughbothournetworkofindependent,privatepracticedoctors(optometristsorophthalmologists)andselectretailpartners,suchasWal‐Mart,Sam'sClubandVisionWorks.YourPlanoffersaselectionofdesigner,namebrandframesthatarecompletelycoveredinfull.
IDCardPleasenoteyouwillnotreceiveanIDcard.Ifyouelectvisioninsurance,allyouhavetodoisgivetheprovideryournameanddateofbirthandtheywillpullyouupintheironlinesystem.Ifyouwouldlikeacard,youcanprintoneatwww.myuhcvision.com.ForAdditionalInformationcall1‐800‐638‐3120orvisitthewebsiteatwww.myuhcvision.com.Youcanalsovisithttp://www.brainshark.com/UHCSB/LSU_Vision.YoucanalsoscantheQRcodelistedbelowonyoursmartphoneortablet.MonthlyPremiumsforDavisVisionPlan:
LevelofCoverage Premium
EmployeeOnly $7.39
Employee+Spouse $12.45
Employee+Child(ren) $12.72
Employee+Family $20.50
InNetworkBenefitsEyeExamination(every12months) NoCopayEyeglassesSpectacleLenses(every12months) CoveredinFullforstandardsinglevision,linedbifocals,orlinedtrifocalsFrames(every12months) $130allowanceplus30%offanyoverageContactLensesContactLensEvaluation,Fitting,andFollowUpCare(every12months)
Formulary:IncludedNon‐formulary:Appliestoallowance
ContactLenses(every12months,inlieuofEyeglasses)
Formulary:upto4boxesNon‐formulary:$130allowance
AdditionalLensOptions*SolidorGradientTint $0Scratch‐ResistantCoating $0UltravioletCoating $0StandardAnti‐ReflectiveCoating $0StandardProgressiveLenses $0DeluxeProgressiveLenses $0*Benefitsarenotlimitedtothislist.PleaseseecertificateforfulllistingofAdditionalLensOptions.
RETIREMENTWITHTHELSUSYSTEM
34
Todayretirementcansignalthebeginningofanewlife.Buthowyouspendyourretirementyearsandhowwellyouprepareforthemareuptoyou.Accordingtostateandfederallaws,employeesoftheLSUSystemmustparticipateinaretirementplan.Toassistyouinreviewingyourplanoptions,belowisalistofretirementplansavailabletothedifferentemployeeclassifications: Ifyouareaclassified,civilserviceemployeewithanappointmentofgreaterthan50%offull‐timeeffort(morethan20hoursperweek)ANDforadurationofgreaterthantwoyears,yourretirementoptionsare:o LouisianaStateEmployees’RetirementSystem(LASERS)
Ifyouareaclassified,civilserviceemployeewithanappointmentof50%offull‐timeeffortorless(20hoursorlessperweek)ORforadurationoftwoyearsorless,yourretirementoptionsare:o SocialSecurityo LouisianaDeferredCompensationPlan(DCCL)
Ifyouareafacultymember*withanappointmentof50%offull‐timeeffortorgreaterORanunclassifiedstaffmember**withanappointmentof51%offull‐timeeffortorgreater(morethan20hoursperweek)ANDyouareappointedforadurationofgreaterthantwoyears,yourretirementoptionsare:o Teacher’sRetirementSystemofLouisiana(TRSL)o OptionalRetirementPlan(ORP)
Ifyouareafacultymember*withanappointmentoflessthan50%offull‐timeeffortORanunclassifiedstaffmember**withanappointmentoflessthan51%offull‐timeeffort(20hoursorlessperweek)ORyouareappointedforadurationoftwoyearsorless,yourretirementoptionsare:o OptionalRetirementPlan(ORP)
o SocialSecurityo LouisianaDeferredCompensationPlan(DCCL)
ParticipationinSocialSecurityWithfewexceptions,theStateofLouisianadoesnotparticipateintheSocialSecurityprogram.IfyouareenrolledinaLouisianaStateretirementplan(TRSL,LASERS,ORP,DCCL),youdonotpaySocialSecuritytax;however,ifyouwerehiredafterApril1,1986,youarerequiredtopaytheMedicareportionoftheFICAtax(1.45%ofyoursalary).ThefollowingpageswillhelpyoudeterminewhetherornotyourappointmentallowsyoutocontributetoSocialSecuritywhileemployedforanLSUSystemcampusormedicalcenter.EmployeesonVisasAccordingtostateandfederallaws,asanemployeeoftheLSUSystem,youmustparticipateinaretirementplan.However,LSUSystememployeesonaJorFVisaarenoteligibletoparticipateinaretirementplanunless“substantialpresence”hasbeenmet.UndertheInternalRevenueServiceCode,theSubstantialPresenceTest(SPT)isusedtodetermine“taxresidency”ofaninternationalperson.Thetestisamathematicaltestbasedontheindividual’svisastatusandnumberofdayspresentintheUnitedStates.OnceaninternationalpersonmeetstheSubstantialPresenceTest,he/sheissubjecttothesametaxlawsasaUnitedStatescitizen.FormoreinformationontheSPT,refertoIRSpublication519“USTaxGuideforAliens”.Ifsubstantialpresenceismet,anemployeemaychoosebetweenSocialSecurityandLouisianaDeferredCompensationRetirementPlan.YouwillbenotifiedbyyourBenefitsRepresentativewhenyouhavereachedsubstantialpresenceandwhenyourretirementelectionisdue.
*FacultyMember:instructor,assistantprofessor,associateprofessor,professororlibrarian**StaffMember:administrativeofficer,professionalstaff,teachingassociate,researchassociate,libraryassociateorcoordinator
RETIREMENTPLANOPTIONS
35
Classified(CivilService)EmployeeOptions
EligibilityMembershipintheLouisianaStateEmployees’RetirementSystem(LASERS)isMANDATORYforallclassified,civilserviceemployeesappointedforgreaterthan50%offull‐timeeffort(morethan20hoursperweek)andforadurationofmorethantwoyears(exceptthoseexcludedbylaw).LASERSmembershipisOPTIONALonlyforthoseemployeeswhoare60yearsofageorgreateratthetimeofemployment,ORforemployeeswhoare55yearsofageorgreateratthetimeofemploymentandwhohavecreditforatleast40quartersintheSocialSecuritySystem.TheseemployeesalsohavetheoptionofparticipatingintheLouisianaDeferredCompensationPlan(DCCL).LouisianaStateEmployees’RetirementSystem(LASERS)TheLouisianaStateEmployees’RetirementSystem(LASERS)isaqualifieddefinedbenefitplanandretirementplanunderSection401(a)oftheInternalRevenueServicecode.ItwasfirstestablishedbyanactoftheLouisianaLegislaturein1946.LASERSisatrustfundcreatedtoprovideretirementincomeandotherbenefitstostateofficers,employees,andtheirbeneficiaries.DetailedinformationonLASERSisprovidedintheMembershipHandbookatwww.lasersonline.org.InadditiontothegeneralinformationontheLASERSwebsite,activemembersandretireescanusethesitetosecurelyaccesstheirLASERSrecordsbyregisteringaUserIDandPassword.Seebelowforasummaryoftheplan.Withfewexceptions,theStateofLouisianadoesnotparticipateintheSocialSecurityprogram.IfyouareenrolledinaLouisianaStateretirementplan,youdonotpaySocialSecuritytax;however,ifyouwerehiredafterApril1,1986,youarerequiredtopaytheMedicareportionoftheFICAtax(1.45%ofyoursalary).AdministratorsofLASERSA13‐memberBoardofTrusteesoverseesLASERS’operations,9ofwhomareselectedbythemembers.LASERSmonthlyBoardmeetingsareopentothepublic,andtakeplaceinthe4thFloorBoardRoomoftheLouisianaRetirementSystemsBuilding,locatedat8401UnitedPlazaBoulevard,inBatonRouge.
EffectiveDateofEnrollmentYouareautomaticallyenrolledintoLASERSatthetimeofemployment(unlessyoumeetoneoftheoptionalcriteriamentionedabove)andwillbegincontributionswithyourfirstpaycheck.ContributionRateRegularMemberswhojoinedLASERSonorbeforeJune30,2006,willcontribute7.5%ofearnedcompensation(basepay)asdefinedbyLASERS.RegularMemberswhojoinedLASERSonorafterJuly1,2006,willcontribute8%ofearnedcompensation(basepay)asdefinedbyLASERS.TheemployercontributionisbasedonanactuarialformulasetbythePublicRetirementSystems’ActuarialCommittee(PRSAC)andchangesannually.TheemployercontributionrateisnotcreditedtoindividualmemberaccountsbutaredepositedintheLASERStrustaccounttohelpfundthedefinedbenefitspayabletoallmembersandtheirbeneficiaries.RetirementEligibilityRetirementbenefitsarepaidmonthlyandareguaranteedforyourlifetime.Youareresponsibleforknowingwhenyouareeligibleforretirement.Youreligibilitytoretireisbasedonyourageandyearsofservice.OneoftherequirementsbelowmustbemetinordertoreceivearetirementbenefitfromLASERS:AmemberwhojoinedLASERSonorbeforeJune30,2006,shallbeeligibletoretireifhe/shehas: 30yearsofserviceormoreregardlessofage 25yearsofserviceormoreatage55orlater 10yearsofserviceormoreatage60orlater At20yearsofserviceyoumayretireatanyagebutyourbenefitwillbereducedonanactuarialbasiswhichisbasedonyourage,lengthofserviceandnumberofyearsfromyourregularretirementage.
AmemberwhojoinedLASERSonorafterJuly1,2006,shallbeeligibleforretirementifhe/shehas: 5yearsofserviceormoreatage60orthereafter At20yearsofserviceyoumayretireatanyagebutyourbenefitwillbereducedonanactuarialbasiswhichisbasedonyourage,lengthofserviceandnumberofyearsfromyourregularretirementage.
RETIREMENTPLANOPTIONS
36
RetirementBenefitCalculationThefollowingformulasareusedtodetermineyourretirementbenefit.IfyouareaRegularMemberofLASERS,youwillaccruebenefitsat2.5percentofyouraveragecompensationperyear.AmemberwhojoinedLASERSonorbeforeJune30,2006,willhavehis/herretirementbenefitcalculatedasfollows:
[YearsofService]X[Formula%]x[36‐monthHighAverageSalary]=AnnualRetirementBenefit
AmemberwhojoinedLASERSonorafterJuly1,2006,willhavehis/herretirementbenefitcalculatedasfollows:
[YearsofService]x[Formula%]x[60‐monthHighAverageSalary]=AnnualRetirementBenefit
SampleCalculations:25YearsofServicex2.5%x$30,000=$18,75030YearsofServicex2.5%x$30,000=$22,500*EmployeeswhobecamemembersbeforeJuly1,1986,willbeentitledto$300peryearinsupplementalbenefitsuponretirement.DisabilityRetirementBenefitsAsaRegularMemberyoumaybeentitledtodisabilitybenefitsifyouareunabletoperformyourworkduties,andhaveaccumulatedatleast10yearsofservicecreditandareactivelyemployedatthetimethedisabilityapplicationissubmitted.SurvivorBenefitsSurvivorbenefitsarepayableundercertainconditionstoyourspouse,minorchildrenandtotallydisabledormentallyhandicappedchildrenuponyourdeath.LASERSshouldbenotifiedimmediatelyofamember’sdeath.LASERSmayalsorequiresurvivorstoprovideproofannuallyoratothertimesthattheyarestilllegallyentitledtosurvivorbenefits.SurvivorbenefitsarenotsubjecttoLouisianainheritancetaxes.ForRegularMembershiredpriortoJanuary1,2011,andyoudiewhileinactiveserviceorhaveatleast20yearsof
servicecredit,andarenotretiredthemaximumtotalbenefitpayabletoallsurvivorsis75percentofyouraveragecompensationifyouhavequalifiedsurvivingchildren;or50percenttoyoursurvivingspouse,ifyouhavenoqualifiedsurvivingchildren.Ifthereisabenefitforasurvivingspouseandqualifiedsurvivingchildren,thesurvivingspousereceivesone‐thirdofthetotalbenefitpayable,andthechildrenreceivetwo‐thirdsofthetotalbenefit.Ifthereismorethanonesurvivingchild,thesurvivingchildportionisdividedequallyamongallqualifiedchildren.Inorderforbenefitstobepaidyoumusthave: Creditforatleastfiveyearsofserviceforabenefittobepayabletoyoursurvivingminorchildren
Creditforatleast10yearsofserviceforabenefittobepayabletoyoursurvivingspouse
Creditforatleast20yearsofserviceforsurvivorbenefitstobepayableifdeathoccursafteryouhaveterminatedemployment.
Ifsurvivorbenefitsarenotpayable,yoursurvivors,yourbeneficiary,oryourestatewillreceiveanamountequaltoyourtotalemployeecontributions.ForRegularMembershiredafterJanuary1,2011,therearesignificantchangesinthesurvivorbenefits:SurvivorBenefitsofRank&FileMemberswithSurvivingSpousewithChild/ChildrenEligibility:Membermusthavebeenanactivememberwithatleastfiveyearsofservice,atleasttwoofwhichwereimmediatelypriortodeath,or20ormoreyearsofserviceregardlessofwhetherthememberwasactiveatthetimeofdeath.Benefit: Benefitisequaltothegreaterof50%ofthebenefitthememberwouldhavebeenentitledtoifheretiredonthedateofdeathregardlessofyearsofserviceor$600.
Benefitceasesuponremarriage.Benefitsresumeupondeathofordivorcefromnewspouse.
Benefitsshallnotceaseuponremarriageifthememberwaseligibleforretirementonthedateofdeath.
Whenallchildrenceasetobeeligibleforasurvivorbenefit,thesurvivingspouse’seligibilityandbenefitamountaredeterminedbasedontheprovisionsforasurvivingspousewithoutachild.
RETIREMENTPLANOPTIONS
37
SurvivorBenefitsforRankandFileMemberswithSurvivingChild/Children(NoSpouse)Eligibility:Themembermusthavehadatleastfiveyearsofservice.Thereisnorequirementthatthememberbeanactivememberorthatthememberhavetwoyearsofserviceimmediatelypriortodeath.Benefit: Theamountofthebenefitisequalto50%ofthebenefitforasurvivingspousewithchild/children(evenifthereisnosurvivingspouseeligibleforabenefit)foreachchilduptoamaximumoftwochildren.
Thisamountshallbedividedequallyamongalleligiblechildren.
Thebenefitsforachildceasewhenthechildnolongermeetsthedefinitionofaminorchild.
Nosurvivingchildmayreceivemorethanonesurvivor’sbenefit.Iftwobenefitsareapplicable,onlythelargerbenefitshallapply.
Survivorbenefitsarepayabletosurvivingchild/childrenevenifthememberhasretired.
Survivorbenefitswouldbeinadditiontoanyoptionalretirementbenefitpayabletothenamedbeneficiary.
Thebenefitsforchild/childrenshallbepaidtothepersonwithcustodyofthechild/childrenortoatrustforthebenefitofthechild/children.
Additionalruleregardingtheamountofbenefitspayabletothesurvivingspouseandchild/children: Ifbenefitsarepayabletoasurvivingspouseandachildorchildren,thenthetotalamountpaidshallnotbelessthantheOption2Aequivalentwhichwouldbepaidtothespouse.
Thisruleshallapplyforaslongasthespouseandchild/childrenareeligibleforsurvivorbenefits.
SurvivorBenefitsforRankandFileMemberswithSurvivingSpouse(NoChildren)Eligibility:Thesurvivingspousemusthavebeenmarriedtothememberforatleastoneyearpriortodeath,andthemembermusthavebeenanactivememberwithatleast10yearsofservice,atleasttwoofwhichwereimmediatelypriortodeath,or20yearsofserviceregardlessofwhetherthememberwasactiveatthetimeofdeath.
Benefit: BenefitisequalthegreateroftheOption2Aequivalentofthebenefitbaseduponyearsofserviceusingtheapplicableaccrualrateor$600.
Benefitceasesuponremarriage.Benefitsresumeupondeathofordivorcefromnewspouse.
Benefitsshallnotceaseuponremarriageifthememberwaseligibleforretirementonthedateofdeath.
ExampleofSurvivingSpousewith3children:Memberbenefit=$2,000Spousebenefit(50%ofmember)=$1,000Childbenefit(50%ofSpouse)foreachchild(maximumof2)=$1,000($500x2)Thetotalbenefitamountavailableforthechildrenis$1,000becausetherearetwoormorechildren.(Thebenefitwouldhavebeen$500iftherewasjustoneeligiblechild). The$1,000benefitwillbesplitequallyamongalleligiblechildren.Thethreechildreninthisexamplewillsplitthe$1,000benefitthreeways($333.33each).
Whenonechildisnolongereligible,thebenefitwillstillbe$1,000($500x2children)splitequallybetweenthetwo($500each). Whenthenextchildbecomesineligible,thebenefitwillbe$500fortheremainingchild.
TrustforMinorChildrenAnybenefitduethequalifiedsurvivingminorchildrenmaybepaidtoatrustcreatedunderLouisianalawforeachchild.TerminationofEmploymentbeforeRetirement:Ifyouleavestateservicebeforeyouareeligibletoretire,youmayqualifyforamonthlybenefituponreachingminimumretirementage.Thefollowingcriteriawouldallowyoutoqualifyinthismanner: Musthaveobtainedcreditfortheminimumnumberofyearsofserviceneededtoretire(vested),and
LeftyourcontributionsondepositwithLASERSInlieuofleavingyourcontributionsondeposit,youmayapplyforarefund.SeeyourBenefitsRepresentativeformoreinformation.
UnclassifiedProfessional/AcademicEmployeeOptionsPermanentEmployeeEligibilityMembership in a retirement plan is MANDATORY for allpermanentemployeeswhichinclude:a. FacultymembersoftheLSUSystemwithanappointmentof greater than two years at 50% of full‐time effort orgreater,exceptthoseexcludedbylaw;and
b. UnclassifiedstaffmembersoftheLSUSystemwithanappointmentofgreaterthantwoyearsat51%offull‐timeeffortorgreater(morethan20hoursperweek),exceptthoseexcludedbylaw.
Ifyourappointmentdoesnotfit thisdescription,seepage26 for temporary and part‐time employee retirement
RETIREMENTPLANOPTIONS
38
options.IfyouareintheUnitedStatesonaJorFvisa,youarenoteligibleformembershipinTRSL.RetirementOptionsasaPermanentEmployee1. Teachers’RetirementSystemofLouisiana(TRSL)2. OptionalRetirementPlan(ORP)
Teachers’RetirementSystemofLouisiana(TRSL)The Teachers’ Retirement System of Louisiana (TRSL) is apublic trust fund established in 1936 to provide retirementbenefits for its members. These benefits are guaranteed bythestateconstitution.Teachers’RetirementSystemofLouisianaoffersyouachoiceofadefinedbenefitplanoradefinedcontributionplan.The defined benefit plan, referred to as “TRSL”, is a planwherein you, as an employee, and the LSU System makecontributions into a pool of funds fromwhich you receive aretirementincomebasedonabenefitformula.Theamountofbenefitisdeterminedbytheyearsofserviceandtheaveragesalaryforthe36highestsuccessivemonthsofearnings.Thecompensation amount for employees hired on or afterJanuary1,2011, iscalculatedbytheyearsofserviceandtheaverage salary for the highest successive 60 months ofearnings. Detailed information on TRSL is provided in theMembershipHandbookatwww.trsl.org.The defined contribution plan, known as the “OptionalRetirement Plan” or “ORP,” is a retirement annuity contractfunded by employee and employer contributions. Benefitsarebasedonthevalueoftheaccountwhenyouelecttoretireandarepaidintheformofalifetimeincome.TRSLpensionsarealsoexempt fromLouisiana state incometax.TheDefinedBenefitPlanthroughTRSLMost TRSL members do not participate in Social Security(benefits are generally 40 percent of your average salary),which makes TRSL (benefits are typically 60‐75 percent ofyourhighest,three‐orfive‐yearaveragesalaryconsecutivelyearned)theirprimarysourceofretirementincome.IfyouareenrolledinaLouisianaStateretirementplan,youdonotpaySocial Security tax;however, if youwerehiredafterApril1,1986, you are required to pay the Medicare portion of theFICAtax(1.45%ofyoursalary).Accordingtostateandfederallaws,asanemployeeoftheLSUSystem, you must participate in a retirement plan. As apermanent employee, you are automatically enrolled intoTRSL at the timeof employmentwith contributions startingwithyourfirstpaycheck.IfyouelecttoparticipateintheORPasanalternativetoTRSL,youmaydosowithinthefirst60daysofemployment.IfyouoptoutofTRSLforanOptionalRetirementPlanwithinyour
first60daysof employment,bothyour contributions andthe state’s portion contributed towards your retirementmayberolledintoyourORPaccount.Ifyouwaitpastyourfirst 60 days of employment to enroll in the ORP, youreffective datewill be delayed to the first of the followingmonthandonlyyourcontributionswilltransfertoovertoyourORPcarrier(notthosemadebythestate). Onceyouhave contributed to the TRSL defined benefit plan forgreaterthanfiveyear,youarenoteligibletoenrollintoanOptionalRetirementPlan.AdministratorsofTRSLTRSL isgovernedbyaBoardofTrusteescomprisedof12elected members. The TRSL Board is responsible forsafeguarding and managing the assets held in trust toprovideretirementincomeforTRSLmembers.ContributionsEmployee contributions are 8.0% of allowable earnedcompensation. The employer contribution is determinedeachyearbasedonanactuarialformuladeterminedbytheState.RetirementEligibilityYour eligibility to retire is determined by the date youjoinedTRSL.There are different eligibility requirements for memberswhojoinedTRSL
priortoJuly1,1999, fromJuly1,1999andDecember31,2010 onorafterJanuary1,2011
*Detailedinformationregardingretirementeligibilitypriorto January 1, 2011 can be found in the MembershipHandbookforTRSLRegularPlanmembers.For TRSL members who first became eligible formembershipinoneofthefourstateretirementsystemsonorafterJanuary1,2011:
5yearsofserviceatage60 At20yearsofserviceatanyage,butyourbenefit
will be reduced on an actuarial basis which isbasedonyourage, lengthofserviceandnumberofyearsfromyourregularretirementage.
RetirementBenefitCalculation:The following formula is used to determine yourretirementbenefit:[YearsofService]x[Formula%]x[3‐YearHighAverageSalary]=AnnualRetirementBenefit
RETIREMENTPLANOPTIONS
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SampleCalculations:25YearsofServicex2.5%x$50,000=$31,25030YearsofServicex2.5%x$50,000=$37,500NOTE:TheabovecalculationappliestoemployeeswhowerehiredbetweenJanuary1,1999andDecember31,2010..
DisabilityRetirementBenefitsMembersareeligibletoapplyfordisabilityretirementiftheyare permanently disabled while actively employed. If youwerehiredpriortoJanuary1,2011,youmusthaveatleastfiveyearsofservicecreditinTRSL.ForindividualswhofirstbecamemembersinoneofthefourstateretirementsystemsonorafterJanuary1,2011,youmusthaveatleasttenyearsofservicecredit.SurvivorBenefitsTRSL should be notified immediately of the death of theparticipant. Survivorsarespousesand/orminorchildrenofmemberswhowereactivelyworkingat the timeofdeath. Ifyou have at least five, limited benefits are available to yourminor childrenandeligible spouse. If youhave10, but lessthan 20 years of service credit, limited benefits are alsoavailable to your minor children and surviving spouse ifmarried to the member for at least one year prior to themember’s death. Please visit www.trsl.org for detailedinformationregardingDeathandSurvivorBenefits.dTerminationofEmploymentbeforeRetirementIfyouhavelessthanfiveyearsofservicecreditatthetimeoftermination,youmayapplyforarefundofyourcontributionsto the system. Employees with five years or more servicecredit will be eligible to receive a benefit at age 60 ifcontributionsareleftondepositwithTRSL.You may obtain a refund of your employee contributions,uponrequest,atterminationofemployment.Theearliestyoumay receive your refund is 90 days after your terminationdate. You may obtain your refund application from yourHumanResource/BenefitsDepartment.
TheOptionalRetirementPlan(ORP)The Optional Retirement Plan (ORP) is an alternativeretirementplantoTRSLand isprovidedbyaprivatecarrierforacademicemployeesandunclassifiedstaffmembersoftheLSUSystem.TheORPisa“definedcontributionplan”towhichyou,asanemployee, and the LSU System make contributions to beinvestedinaretirementannuitycontractinyourname.ORPbenefitsarepaidintheformofalifetimeincomeand,exceptfordeathbenefits, single‐sumpayments (lump sum)arenotpermitted.
With few exceptions, the State of Louisiana does notparticipate in the Social Security program. If you areenrolled in a Louisiana State retirement plan, you do notpay Social Security tax; however, if you were hired afterApril1,1986,youarerequiredtopaytheMedicareportionoftheFICAtax(1.45%ofyoursalary).AdministratorofthePlanTheTeachers’RetirementSystemofLouisianaadministersthe plan. ORPs, which were first offered in 1990, areofferedby: VOYA Life Insurance and Annuity Company(formerlyINGLifeInsuranceandAnnuityCompany)
TeachersInsuranceandAnnuityAssociation–CollegeRetirementEquityFund(TIAA‐CREF)
VALICRetirementServicesCompanyThedirectoryonpage51listsORPrepresentativesforeachcampus/medicalcenter.EffectiveDateofEnrollmentAs a permanent employee you are automatically enrolledintotheTRSLdefinedbenefitplan.IfyouwishtoenrollinanORP,youhave60daysfromyourdateofhiretoenrollretroactivetoyouroriginalhiredate.Ifyouwaitpastyourfirst60daystoenroll,youreffectivedatewillbedelayedtothefirstofthefollowingmonthandonly your contributions will transfer over to your ORPcarrier (not those made by the LSU System). Once youhave contributed to the TRSL defined benefit plan forgreaterthanfiveyears,youarenoteligibletoenrollintoanOptionalRetirementPlan.IMPORTANT! The decision to participate in the ORP isIRREVOCABLE. Youmay not enroll in the ORP and thenlater change to the TRSL defined benefit plan. However,you may elect to change ORP carriers at any timethroughouttheyear.ContributionsYour employee contribution is 8% of allowable earnedcompensation and is tax‐sheltered. TRSL charges you0.05% to administer the funds. The LSU Systemcontributes 5.1839% of your allowable earnedcompensation forFY2015. ForFY2016, theLSUSystemwillcontribute5.4379%.ThecontributionrateissubjecttochangeeachJuly1st.There are many investment options in the ORP. Eachoption has varying degrees of financial risk and rates ofreturn. You may contact the ORP representatives forinformationconcerning theseoptionsand thebestprofileforyou.
RETIREMENTPLANOPTIONS
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VestingYourORPaccountisimmediatelyvested.RetirementEligibilityAsanORPparticipant,youareeligibletoannuitizeyourORPaccountatterminationofemployment.Inordertobeeligibleto continue group insurance policies after retirement, as anORP retiree, you must meet the minimum retirementeligibility requirements under the provisions of TRSL (seepage25).RetirementBenefitPaymentOptionsUndertheprovisionsofLouisianalaw(LSA‐R.S.11:929B)youmayelectaonetime,lump‐sumpaymentofupto36monthsofyourannuityinadditiontoalifetimeannuityatthetimeofyourretirement.ORP account balances can be distributed by any of thefollowing:
Alifetimeincome Trustee‐to‐trustee, single lump‐sum cash rollover
betweenqualifiedplans IRA Deathbenefits
The ORP is a defined contribution retirement plan and theamount of the monthly income payable at retirement isdirectly related to the balance in your account, your age atretirement,andtheincomeoptionyouselect. Whenyouareready to retire, youwill select from several annuity options(the optionsmay differ slightly, depending on the companyyouhaveselectedasyourORPcarrier).DisabilityBenefitsPleasenotethatORPbenefitsarealwaysbasedonthevalueofthe ORP account. Therefore, there is no guaranteed ordefined disability benefit as a participant in the ORP.However,intheeventofadisability,anORPparticipantmaybeabletocontinueparticipationinotherinsuranceprograms.If youbecomedisabled, youmusthave at least five yearsofservice inanORPtoapply forcontinuedparticipation intheinsuranceplansatretirement.TheLSUSystemwillrequireamedical examination by an independent physician. Thephysician must certify that you are mentally or physicallyincapacitatedforfurtherperformanceofthedutiescurrentlybeingperformed, that the incapacity is likely tobe total andpermanent,andthatyoushouldberetired.Ifapproved,youmaycontinueparticipationintheinsuranceplansineffectatthetimeofyourretirementontheORP.
SurvivorBenefitsYoursurvivor(s)maychoosealump‐sumrefundorelecttoreceive a monthly benefit based on the value of youraccount.
TerminationofEmploymentbeforeRetirementState law does not permit a lump‐sum refund atterminationofemployment.Youretainownershipofyouraccount and you may elect to receive a monthly benefitbased on the value of your account. Funds in your ORPaccountareeligibleforalump‐sumIRArollover,subjecttowithdrawalprovisionsofyourORPcarrier.*PLEASE NOTE: Terminating employment with onecovered employer and beginning work with anothercovered employer does not qualify as termination ofemployment. Termination of all covered employmentmeans than an ORP member must not be employed byanotherTRSLreportingagency.
ComparisonofTRSLandORP
TRSLorORP? That is thequestion. Theanswershouldbe reached only after you have taken a careful look atyourcareerexpectations. If you are reasonably certain youwill not continue
inyourcurrentpositionordonotplantoremaininLouisiana, then you should give carefulconsiderationto an ORP because your planwill beportabletomostotherU.S.collegesanduniversities.However, if you plan to continue teaching orworking in Louisiana, either at a public college,university, vocation/ technical institute, or school,or a state or local government agency, you shouldconsider enrolling inTRSL.
If you enroll in TRSL,with five years of service, youcanleaveyourcontributionswithTRSLandatage60beginreceivingabenefit.
If youenroll inTRSL,youhaveaperiodof fiveyearsin which to change your mind and transfer theemployeeportion(not theemployerportion)ofyourretirement contributions into an ORP. Remember:AN ELECTION TO PARTICIPATE IN THE ORP ISIRREVOCABLE.
WerecommendthatyouconsiderenrollingintheLongTermDisabilityPlanandLifeInsurancesinceneitherTRSL nor ORP provide substantial benefit until youhavebeencontributingforatleast15years.
RETIREMENTPLANOPTIONS
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Teachers’RetirementSystemofLouisiana(TRSL) Optional RetirementPlan(ORP)
Definedbenefitplan –pensiondeterminedbyyears ofserviceandhighest,consecutivethree‐yearaverageannualsalary.
Defined contribution plan – monthly annuity determinedbyemployerandmembercontributionsandinvestmentreturnonthosecontributions.
Contributions do not determine benefits. Employeecontribution is 8% of salary. Total employer contribution isthesameastheOptionalRetirementPlan.
Contributions and investment earnings determine benefits.Employeepayrollcontributionis8%ofsalary.TheLSUSystemcontributes 5.1839% of your allowable earned compensationfor 2014‐2015 and will contribute 5.4379% for FY 2016beginning7/1/15.
Lifetimebenefit. Benefit based on amount of accumulatedcontributions.
Lifetime benefit payable after 20 years of service or fiveyearsofserviceatage60.
Lifetime benefit based on accumulated contributions andpayable at the member’s option, after termination ORPparticipation.
GuaranteedbytheStateofLouisiana. Guaranteed bythe solvency of thecarrier.
Refund of employee contributions upon request atterminationofemployment.
Partial lump‐sumpayout possible at time of retirement.Also,rolloverof all or part of the funds to an IRA orqualifiedplanmaybedoneaftertermination.
A member has five years after joining TRSL to decide tochangetoanORP.
ORP members cannot change their minds and join TRSL.ORPelectionsareirrevocable.
If a member with five years of service credit dies, survivorbenefitsareprovidedforspousewithminorchildren(10yearsofservicecreditinthecaseofspousewithnominorchildren).
Uponthedeathofamember,amountoftheORPaccountispaidoutinalumpsumorasanannuity.
IfamemberwhojoinedTRSLonorbeforeDecember31,2010andhas fiveyearsofservicecredit isdisabled,heorshewill receivedisabilitybenefits fromTRSL for life. If amemberwhojoinedTRSLonorafterJanuary1,2011andhastenyearsof service credit is disabled, he or shewill received disabilitybenefitsfromTRSLforlife.
Lifetime benefits based on accumulated contributions andpayable at the member’s option, after termination of ORPparticipation.Nootherdisabilitybenefitsareincluded.
Transferrable to other Louisiana public schools, colleges,universities,vocational/technicalinstitutes,andmanystateagencies.
PortabletomostcollegesanduniversitiesintheUnitedStates.
TRSL controls/monitors members’ investments (current five‐yearaverageannualreturnis13.3%).
Members control their investments (See the ORP carrier’sbrochureforreturndata).
RETIREMENTPLANOPTIONS
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UnclassifiedProfessional/AcademicEmployeeOptionsEligibilityforTemporary/Part‐time/SpecialCircumstancesMembershipinaretirementplanisMANDATORYforthefollowingemployees:TemporaryEmployees Haveafull‐timeappointmentoftwoyearsorless
Part‐timeEmployees Areafacultymemberappointedforlessthan50%offull‐timeeffort(lessthan20hoursperweek)
Areastaffmemberappointedforlessthan51%offull‐timeeffort(20hoursorlessperweek)
SpecialCircumstancesInaddition,thefollowingsituationsmayaffectanemployees’retirementeligibilityand/oroptions: EmployeesonaJorFvisaareeligibletoparticipateineitherSocialSecurityorLouisianaDeferredCompensationif“substantialpresence”hasbeenmet
Employeeswhoare60yearsofageormoreatthetimeofemployment,ORforemployeeswhoare55yearsofageormoreatthetimeofemploymentandwhohavecreditforatleast40quartersintheSocialSecuritySystemmayelectLouisianaDeferredCompensationPlanorSocialSecurityasanalternativetoLASERS
RetirementOptionsasaTemporary/Part‐timeEmployeeorfortheAboveSpecialCircumstances1. SocialSecurity2. LouisianaDeferredCompensationPlan(DCCL)3. OptionalRetirementPlan(ORP)
SOCIALSECURITYAccordingtostateandfederallaws,asanemployeeoftheLSUSystem,youmustparticipateinaretirementplan.Ifyourappointmentisconsideredtemporaryorpart‐timeforretirementpurposes,youwillautomaticallybeenrolledintoSocialSecurity.SocialSecurityisthenation’sbasicmethodofprovidingacontinuingincomewhenfamilyearningsarereducedorstoppedbecauseofretirement,disability,ordeath.Withfewexceptions,theStateofLouisianadoesnotparticipateintheSocialSecurityprogram.IfyouareenrolledinaLouisianaStateretirementplan,youdonotpaySocialSecuritytax;however,ifyouwerehiredafterApril1,1986,youarerequiredtopaytheMedicareportionoftheFICAtax(1.45%ofyoursalary).ContributionsYourcontributionis6.2%ofgrosssalary.TheLSUSystem’sshareisalso6.2%ofyourgrosssalary.
VestingTechnically,youdonotbecomevestedinSocialSecurity.YouareonlyeligibletoreceiveyourSocialSecuritybenefitsonceyoumeetNormalSocialSecurityRetirementAgeandhavecontributedaminimumof40quartersintoSocialSecurity.Formoreinformation,pleasecallSocialSecurityAdministrationat1‐800‐772‐1213,orvisitwww.ssa.gov.TerminationofSocialSecurityContributionsifEmploymentEnds:IfyouleaveemploymentwiththeLSUSystem,yourSocialSecurityContributionsmaynotberefunded.YouareonlyeligibletoreceivebenefitsonceyoureachNormalSocialSecurityRetirementAgeandhavecontributedacertainamountofquartersintoSocialSecurity.Formoreinformation,pleasecallSocialSecurityAdministrationat1‐800‐772‐1213,orvisitwww.ssa.gov.EmployeeswhoContributetoSocialSecurityforatLeastTwoYears:OnceyouhavecontributedtoSocialSecurityfortwoyearswiththeLSUSystem,youwillbedefaultedintoTheTeacher’sRetirementSystemofLouisiana(TRSL)definedbenefitplanandhavetheoptiontochangetotheOptionalRetirementPlan.However,ifyouareapart‐timeemployeeuponcontinuation,youwillcontinuetoparticipateinSocialSecurity.Onceyourappointmentbecomesfull‐time,youwillbedefaultedintoTRSLwiththeoptiontochangetotheORP.LouisianaDeferredCompensationPlan(DCCL)InlieuofSocialSecurity,TheLouisianaDeferredCompensationPlan(DCCL)isofferedasaretirementplanoptiontopart‐timeortemporaryemployeesandthoseemployeeswithspecialcircumstancesasdefinedabove.EffectiveDateofEnrollmentAsatemporaryemployeeyouareautomaticallyenrolledintoSocialSecurity.IfyouwishtoenrollinDCCL,youhave30daysfromyourdateofhiretoenrollretroactivetoyouroriginaldate.Ifyouwaitpastyourfirst30daysofemploymenttoenroll,youreffectivedatewillbedelayedtothefirstofthefollowingmonthandthecontributionsthatweremadetoSocialSecuritywillNOTbetransferredintoyourDCCLaccount.ContributionsYourcontributionis7.5%ofyourallowableearnedcompensation.Youremployercontributes6.2%ofyourallowableearnedcompensation.VestingYourDCCLAccountisimmediatelyvested.
RETIREMENTPLANOPTIONS
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TerminationofDCCLContributionsifEmploymentEnds:Youwillbeabletoaccessthesefundsuponseparationfromservicewithoutanyagerequirementorpenalty.YouwillbeunabletoaccessthesefundsuntilyouactuallyseparateemploymentfromtheLSUSystem.EmployeeswhoContributetoDCCLforatLeastTwoYears:OnceyouhavecontributedtoDCCLfortwoyearswiththeLSUSystem,youwillbedefaultedintoTheTeacher’s
RetirementSystemofLouisiana(TRSL)definedbenefitplanandhavetheoptiontochangetothedefinedcontribution,OptionalRetirementPlan.However,ifyouareapart‐timeemployeeuponcontinuation,youwillcontinuetoparticipateinSocialSecurity.Onceyourappointmentbecomesfull‐time,youwillbedefaultedintoTRSLwiththeoptiontochangetotheORP.TheOptionalRetirementPlanInlieuofSocialSecurity,TheOptionalRetirementPlan(ORP)isanotheralternativetoDCCLthatofferedtopart‐timeortemporaryemployees.
SUPPLEMENTALRETIREMENT
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SupplementalRetirementTypesofSupplementalRetirementAccountPrograms:Roth403(b),403(b),and457(b)
*LSUcannotguaranteethesuccessoftheSRAproductsorthelevelofserviceandweurgeyoutofullyreviewtheproductbeforeyouparticipate.Enrollingand/orInquiries:ForemployeeswhoareinterestedinopeningaSupplementalRetirementAccount,contacttherepresentativeforthecompanyofyourchoicelistedonpage51.Therepresentativewillsetupameetingwithyoutocompletetheenrollmentpaperwork.YourparticipationistotallyvoluntaryandtheLSUSystemdoesnotmakeanycontributionsonyourbehalf.
Contributions
ThemaximumcontributionisdeterminedbyfederallawandissetbytheIRSeachcalendaryear.For2015,thatamountis$18,000foremployeesunderage50.Foremployeesage50andover,thecontributionamountmaxis$24,000.Youareeligibletomaximizecontributionstobotha403(b)and457(b)accountatthesametime.Employeesmayswitchsupplementalretirementaccountvendorsatanypointduringtheyear.
403(b)
The403(b)planisnowenhancedtogiveyouevenmoreflexibility!YourplannowincludestheRoth403(b)featurewhichprovidesanewopportunitytosavewithretirement.Youcanmakecontributionsonanafter‐taxbasisundertheRoth403(b),onapre‐taxbasis,oracombinationofthetwo.Althoughthisoptiondoesn'tchangehowmuchyoucancontribute,itdoesgiveyoumorecontroloverwhenyourcontributions‐andretirementincome‐willbesubjecttofederalincometax.Ifyouhavetheaccountforatleastfiveyearsandhaveturnedage591/2,everycentinaRoth403(b)couldbewithdrawntax‐free.Allapprovedsupplementalretirementvendors,VOYA,MetLife,TIAACREF,VALIC,andFidelityareofferingtheRoth403(b)option.Contactinformationcanbefoundbelow.The403(b)planoffersLSUemployeesseveraloptionsintermsofwhotheycaninvesttheirmoneywith.Alongwiththeseveralcompaniesyouhavetochoosefrom,youalsohavenumerousfundsavailabletoyouinwhichyoucandiversifyyourretirementportfolio.
TerminationofemploymentwithLSUwouldallowyoutorollyourfundsovertoanIRAorotherqualifiedplan.Earlywithdrawalpenaltieswillbeassessedifyouwithdrawyourmoneypriortoobtainingage59½.Toadjustcontributionstoanactive403(b),submittheSalaryReductionAuthorizationformto110ThomasBoydHall.457(b)
The457(b)plan(throughStateofLouisianaDeferredCompensationPlan/GreatWestFinancialServices)offersLSUemployeesoneoptionthroughtheStateofLouisianaDeferredCompensationPlan,theexclusiveprovider.TerminationofemploymentwiththeLSUSystemwouldallowyoutorollyourcontributionsovertoanIRAorotherqualifiedplanorreceiveacashdistributionwithoutanearlywithdrawalpenalty.BenefitsofaSupplementalRetirementAccount(SRA)
The403(b)and457(b)plansallowyoutosetasideaportionofyoursalarybeforefederalandstateincometaxesarepaid.Thisdeferredsalary(before‐taxdeductions)isplacedintoaninvestmentaccountofyourchoice.ParticipatinginanSRAallowsyoutodelaypaymentoftaxesonthemoneyyouinvestandanyinterestthatmoneyhasearneduntillater‐usuallyatretirement. Decidehowmuchtosave(subjecttotheminimum
andmaximumdepositlimitations). Decidethetypeofinvestmentvehicletouseforyour
deposits. Increase,decrease,stop,orresume
Example:Assuming$100/Month($1200/year)Savings
WithSRA WithoutSRAAnnualSalary(GrossPay) $30,000 $30,000Less403(b)or457(b)Savings
‐$1,200 N/A
LessRetirementContribution(8%)
‐$2,400 ‐$2,400
TaxableIncome $26,400 $27,600LessFederalTax* ‐$3,960 ‐$4,140LessMedicareTax ‐$435 ‐$435LessAfterTaxSavings N/A ‐$1,200RemainingSpendablePay $22,005 $21,825
*Assumesfederaltaxbracketof15%.Savingswillbeevengreaterforpersoninhighertaxbrackets.
SUPPLEMENTALRETIREMENT
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AnnuityContracts
Therearetwotypesofannuitycontacts:fixedannuitiesandvariableannuities.
Thefixedannuitiesprovideaguaranteeofprincipalandaguaranteedrateofreturn.Fixedannuitiesalsoprovideforfixedperiodicpaymentsatretirementandaspecificrateofreturnforacertainperiodoftime.Atretirement,youcanselectfromseveralpaymentoptions,dependingontheinvestmentcontractorpolicyyouhavechosen.
Thevariableannuitiesinvestmainlyinstocks,bonds,andmoneymarketfundsanddonothaveafixedrateofreturnoraguaranteeofprincipal.Theamountofmoneyyoureceiveatretirementoryourmonthlyretirementpaymentswillvary,dependingontheinvestmentperformanceofthefund.Thistypeofinvestmentreliesongrowthoveraperiodoftimetoincreasethevalueofthefund.Therearenoguaranteesthatyouraccountwillgrow;thevalueofyouraccountcangoupordownwiththeinvestmentperformanceofthefund.Someofthecompaniesofferacombinationofbothfixedandvariableannuities.Youmayspecifythepercentoramountofeachdepositthatistobeinvestedineachaccount.MutualFunds
Thecustodialaccountsavailablethroughthemutualfundcompaniesareverysimilartothevariableannuityoptiondescribedabove.
Thevalueofyouraccountcangoupordownwiththeinvestmentperformanceofthefund.WithdrawingMoneyfromyourSRA
WhileStillEmployed:ThemainpurposeoftheSRAistohelpprovideyouwithlong‐termfinancialsecuritythroughcurrenttax‐efficientsavings.InexchangeforthetaxbreakstheIRSgives,you,governmentregulationslimitwithdrawalswhileyouareemployed.Inaddition,someinvestmentcompanieshavepolicyorcontractrestrictionsthatmayincludefeesorinterestpenaltiesforearlywithdrawal.Besuretoreviewthecompany’spolicybeforemakingyourdecision.Withdrawalformsmayberequestedfromyourinvestmentcompanyoritsrepresentative.Thereareinstancesinwhichyouwouldbeeligibletowithdrawthismoneyintheeventofahardship.Inordertoqualifyforahardship,youmusthaveaverifiable,immediate,andheavyfinancialneed.Thewithdrawal
mustbenecessarytomeettheneed;inotherwords,youareunabletomeettheneedfromanyothersource.Inthiscase,youcanwithdrawonlyyourcontributions,nottheearningsonthem.Ifyouwithdrawmoneyfromyour403(b)SRAbefore59½youmustpaya10%penaltytaxontheamountwithdrawnunlessthedistributionmeetsoneofthefollowingrequirements:
Itisduetoterminationofemploymentonorafterage55;
Itisintheformofsubstantiallyequalpaymentsforlifeorlifeexpectancy,afterterminationofemployment;
Itisduetodisabilityordeath;
Itisfornon‐reimbursedmedicalexpensestotheextentallowedtobeitemizedonyourincometaxreturn(morethan7.5%ofadjustedgrossincome);
Itisapaymenttoanalternatepayeedirectedbyaqualifieddomesticrelationsorder(QDRO).
depositsanytimeyouchoose. Selectfromavarietyofsettlementoptionsupon
termination.Yourpolicy/contractmayincludetheseoptionsandmore:
o Animmediatelump‐sumcashsettlemento Anannuitysettlemento Installmentsforaselectedperiodo Asurvivorannuity
DesignateabeneficiaryforthedeathbenefitrelatedtoyourSRA.Youalsohavetherighttoselectaninstallmentorannuity;
Itisfornon‐reimbursedmedicalexpensestotheextentallowedtobeitemizedonyourincometaxreturn(morethan7.5%ofadjustedgrossincome);
Itisapaymenttoanalternatepayeedirectedbyaqualifieddomesticrelationsorder(QDRO).
AfterTermination:IfyouleavetheLSUSystem,yourdepositstotheSRAwillstop.Thedepositsandearningsyouhaveaccumulatedcanbewithdrawnandpaidtoyou(oryourbeneficiaryifyoudie).Contractorpolicywithdrawalrestrictionswillapply.Distributionsmadethatarenotpartofaseriesofsubstantiallyequalpaymentsmadeoveraperiodof10yearsormore,orthatarenotrequiredtobemadeundertheIRSminimumdistributionrules,mayberolledovertoanIRA.Youmayalsoelectnottodeferanytaxliability.AnywithdrawalsthatarenotdirectlyrolledovertoanIRAoranotherSRAwillbesubjecttotaxwithholdingof20%.
SUPPLEMENTALRETIREMENT
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Inaddition,ifyouarenotyet59½anddonotmeetanyofthecriteriaexplainedunderthegovernmentalrestrictionsoutlinedbelow,yourdistributionfroma403(b)willbesubjecttoa10%penaltytaxaccordingtoIRSregulations.Thispenaltytaxisinadditiontoanycontractorpolicywithdrawalrestrictionsthatmayapply.IntheEventofYourDeath:Intheeventofyourdeath,yourbeneficiarymustcontacttheinvestmentcompanyoritsrepresentativetoreceivewithdrawalinformation.
WhenyouenrollinanSRA,youwillbegivenabeneficiarydesignationformthatcontainsalltheinformationforbeneficiaryelection.Intheeventyouwanttochangeyourdesignationofbeneficiary,youneedtocontacttheinvestmentcompanyoritsrepresentative.RequiredMinimumDistributions:403(b)and457(b)SRAPlansmustbeginbyApril1stoftheyearfollowingthelaterofthesetwoevents‐youattain70½yearsofageoryouretire.
RETIREMENTPLANCONTACTINFORMATION
47
ContactInformationforVendorsavailableundersection403(b)and457(b)
ORPrepresentativesforeachcampus/medicalcenter2
Campus Voya TIAA‐Cref VALIC MetLife La.DefComp
HealthCareServicesDivision,Headquarters
ColetteRiha225‐266‐9413
ConnieShaver,225‐266‐4032
MarkDigiovanni866‐836‐8935
MindyLewis225‐241‐9706or1‐800‐892‐5558ext.87784
BonnieD.Leerkes225‐300‐1539BrandyBellina225‐300‐1534
(800)937‐7604
LallieKempRegionalMedicalCenter
HowardWeiser504‐620‐5572
MarkDigiovanni866‐836‐8935
ColomboBaldini985‐285‐0749or1‐800‐892‐5558ext.88182
ClydeJ.BohneIII225‐368‐2261
(800)937‐7604
LSUA&MCollege(BatonRouge)
MikeSotile225‐766‐8711
LindaAlumbaugh225‐273‐0844BrandonGoll504‐779‐2887
MarkDigiovanni866‐836‐8935
MindyLewis225‐241‐9706DavidMills
225‐201‐1060
ClydeJ.BohneIII225‐368‐2261
(800)937‐7604
LSUAgriculturalCenter
ColetteRiha225‐266‐9413ConnieShaver225‐266‐4032
MarkDigiovanni866‐836‐8935
MindyLewis225‐241‐9706DavidMills
225‐201‐1060
ClydeJ.BohneIII225‐368‐2261
GradySavoie(800)937‐7604
LSUatAlexandria
MattSaterfiel318‐325‐1317
MarkDigiovanni866‐836‐8935
CharlesDuff318‐758‐1486or1‐800‐892‐5558ext.87588
ClydeJ.BohneIII,225‐368‐2261
(800)937‐7604
LSUatEuniceBobbyEtheridge337‐462‐2004
MarkDigiovanni866‐836‐8935
KennethPettus318‐201‐10571‐800‐892‐5558
ext.89071
BonnieLeerkes225‐300‐1539
(800)937‐7604
LSUHealthScienceCenter/NewOrleans
DannyMisse504‐710‐7766
MarkDigiovanni866‐836‐8935
GregMancina225‐772‐3804or1‐800‐892‐5558ext.88214
BrandyBellina225‐300‐1534
(800)937‐7604
LSUHealthScienceCenter/Shreveport
GarySaterfiel318‐387‐9168or318‐355‐9168
MatthewRobertson
972‐831‐7027
MelissaMcConnell
318‐572‐8601or1‐800‐892‐5558ext.88735
JohnBarr318‐820‐7647or1‐800‐892‐5558ext.88662
GregNorwood318‐212‐4514DavidPaul
318‐212‐8924
(800)937‐7604
LSUPenningtonBiomedicalResearchCenter
MikeSotile225‐766‐8711
LindaAlumbaugh225‐273‐0844BrandonGoll504‐779‐2887
MarkDigiovanni866‐836‐8935
MindyLewis225‐241‐9706DavidMills
225‐201‐1060
BonnieLeerkes225‐300‐1539
(800)937‐7604
2 ORPs are ONLY offered by ING Financial Services, Teacher’s Insurance and Annuity Association (TIAA‐Cref) and Variable Annuity Life Insurance Company (VALIC).
RETIREMENTPLANCONTACTINFORMATION
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LSUatShreveport
DonnaCausey318‐469‐1933
MatthewRobertson
972‐831‐7027
StephenTucker,318‐423‐2232Or1‐800‐892‐5558ext.88743
GregNorwood318‐212‐4514DavidPaul
318‐212‐8924
(800)937‐7604
LSUSystemOffice
MikeSotile225‐766‐8711
LindaAlumbaugh225‐273‐0844BrandonGoll504‐779‐2887
MarkDigiovanni866‐836‐8935
MindyLewis225‐241‐9706Or1‐800‐892‐5558ext.87784
ClydeJ.BohneIII225‐368‐2261
(800)937‐7604
PaulM.HebertLawCenter
MikeSotile225‐766‐8711
LindaAlumbaugh225‐273‐0844BrandonGoll504‐779‐2887
MarkDigiovanni866‐836‐8935
MindyLewis225‐241‐9706or1‐800‐892‐5558ext.87784
ClydeJ.BohneIII225‐368‐2261
(800)937‐7604
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EnrollmentForms
PleasecompletetheappropriateEnrollmentFormsforyourVoluntaryBenefitselectionsandreturntoyourHumanResource/BenefitsDepartment.Reminder:Youmustenrollwithinyourfirstthirty(30)daysoffull‐timeemployment,yourcoveragewillbeeffectivethefirstofthemonthfollowingyourfirstfullcalendarmonthofemployment.Ifyoudonotenrollwithinthefirstthirtydaysofemployment,youcanenrollduringAnnualEnrollment,whichoccurseveryOctoberforaJanuary1steffectivedate.Ifyouhaveexperiencedafamilyqualifyingeventsuchasmarriage,divorce,spousebeginsorendsemployment,etc.,youmayenrollduringtheplanyear.Enrollmentmustbewithin30daysofthequalifyingevent.ContactHRMforacompletelistofqualifyingeventsandspecificbenefitstartdates.
STUDENTTUITIONASSISTANCEANDREVENUETRUSTPROGRAM
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TheStateofLouisianaoffersasavingsprogramknownastheStudentTuitionAssistanceandRevenueTrustProgram,commonlyreferredtoasthe“STARTSavingProgram.”Thisprogramwascreatedtohelpresidentssavefortheirchildren’spostsecondaryeducation.Asanincentivetosave,theStateofLouisianawillallocatefundstoanemployee’saccountatavariablerate,dependingupontheamountemployeesdepositandtheiradjustedgrossincome.
TheopenenrollmentperiodforthisprogramisJuly1throughNovember1ofeachyear.Applicationsforchildrenovertheageofoneareonlyacceptedduringtheopenenrollmentperiod.Theprogramacceptsnewapplications,forchildrenundertheageofone,atanytimeduringtheyear.Moreinformationabouttheprogramcanbefoundontheirwebsite:http://www.startsaving.la.gov/savings/index.jsp.
LEAVE_________________________________________________________________________________________EligibilityEligibleemployeesreceiveseveraltypesofleavewhicharedefinedbelow.Thetypeofappointmentonwhichtheindividualisemployeddetermineseligibilityforthetypesofleaveavailable.
Academicandunclassifiedemployeesonregularappointmentsofgreaterthan180daysandgreaterthan50%effortareeligibleforalltypesofleave.Academicandunclassifiedemployeesontemporaryappointmentsoflessthan181daysoronappointmentsfor50%effortorlessarenoteligibleforannualandsickleave,butareeligibleforcivil,funeralandmilitaryleave.
Classifiedemployeesonregularappointmentsareeligibleforalltypesofleave.Classifiedemployeesservingonrestrictedappointmentsdonotearnanytypeofleave.Accrualmethodsofbothannualandsickleavearedeterminedbytheemployee’stypeofappointment.
AnnualLeaveAnnualleaveisleavewithpaygrantedemployeesforvacationandtransactionofpersonalaffairs.Annualleavemaybeusedatanytimeafteritisearnedcontingentuponapprovalofsupervisorypersonnel.Annualleaveiscreditedattheendofthepayperiodandcannotbeadvancedtoemployees.
Eligibleacademicandnon‐classifiedemployeesmaychoosetoaccumulate(accrue)theirannualleaveundereithertheLSUSchedule(Option1)ortheCivilServiceSchedule(Option2).Anemployeeonanacademicyearbasis(9monthappointment)doesnotaccrueannualleave,butdoesaccruesickleave.Newemployeesmustselectoneofthescheduleswithin30daysoftheirdateofemployment.Thedecisionmadeisirrevocable.
Note:Uponresignation,employeesarepaidforupto300hoursofaccumulated,unusedannualleave.
ACADEMIC/NON‐CLASSIFIEDEMPLOYEES
YearsofServiceOption1:
LSUSchedule
Option2:
CivilServiceSchedule
Lessthan3years 14hrs/month* 8hrs/month
3,butlessthan5 14hrs/month* 10hrs/month
5,butlessthan10
14hrs/month* 12hrs/month
10,butlessthan15
14hrs/month**
14hrs/month
15yearsandup16
hrs/month**16hrs/month
*Totalaccumulationlimitedto176hours
**Nolimitontotalaccumulation
Eligibleclassifiedemployeesaccumulate(accrue)annualleaveaccordingtothefollowingschedulewithnolimitontotalaccumulation:
CLASSIFIEDEMPLOYEES
YearsofService
AmountAccrued
PerHour
ApproximateAmount
AccruedPerMonth
Lessthan3years .0461/hour 8hours/month
3,butlessthan5 .0576/hour 10hours/month
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5,butlessthan10 .0692/hour 12hours/month
10,butlessthan15 .0807/hour 14hours/month
15yearsandup .0923/hour 16hours/month
SickLeaveSickleaveisleavewithpaygrantedemployeeswhoaresufferingwithdisabilitiesasaresultofaccident,illnessorchildbearingwhichpreventthemfromperformingtheirusualdutiesandresponsibilitiesorwhorequiremedical,dentaloropticalconsultationortreatment.Sickleavemaybeusedatanytimeafteritisearned.Absencescoveredbysickleavemustimmediatelybereportedtosupervisorypersonnel.Sickleaveiscreditedattheendofthepayperiodandcannotbeadvancedtoemployees.
Eligibleacademicandnon‐classifiedemployeesaccumulate(accrue)sickleaveaccordingtothefollowingschedulewithnolimitontotalaccumulation:
ACADEMIC/NON‐CLASSIFIEDEMPLOYEES
YearsofService AmountAccrued
Lessthan3years 8hours/month
3,butlessthan5 10hours/month
5,butlessthan10 12hours/month
10,butlessthan15 14hours/month
15yearsandup 16hours/month
Eligibleclassifiedemployeesaccumulate(accrue)sickleaveaccordingtothefollowingschedulewithnolimitontotalaccumulation:
CLASSIFIEDEMPLOYEES
YearsofService
AmountAccrued
PerHour
ApproximateAmount
AccruedPerMonth
Lessthan3years .0461/hour 8hours/month
3,butlessthan5 .0576/hour 10hours/month
5,butlessthan10 .0692/hour 12hours/month
10,butlessthan15 .0807/hour 14hours/month
15yearsandup .0923/hour 16hours/month
CivilLeaveEligibleemployeesmayreceivecivilleavewithpaywhileperformingjurydutyorwhensubpoenaedtoappearasawitnessbeforeacourtorpublicbody.Employeesmayalsoreceiveleaveforvotingpurposes,limitedto2hoursofleavetovoteintheparishwhereemployedandnotmorethan1daytovoteinaparishoutsidetheonewhereemployed.
FuneralLeaveAmaximumoftwodaysfuneralleavemaybegrantedaneligibleemployeetoattendthefuneralorburialritesofaparent,step‐parent,child,step‐child,brother,step‐brother,sister,step‐sister,spouse,mother‐in‐law,father‐in‐law,grandparentorgrandchild.
FamilyandMedicalLeaveTheFamilyandMedicalLeaveActof1993(FMLA)guaranteesthatcoveredemployeeswillbeallowedtouseatotalofupto12weeksofannualleave,sickleave,orleavewithoutpay,asappropriate,withina12monthperiod,foranyofthefollowingreasons:(1)tocarefortheemployee'schildafterbirth,orplacementforadoptionorfostercare;(2)tocarefortheemployee'sspouse,childorparent,whohasaserioushealthcondition;or(3)foraserioushealthconditionwhichmakestheemployeeunabletoperformhis/herjob.CoveredemployeesarethosewhohavebeenemployedbytheStateofLouisianaforatleast12monthsandwhohaveworkedatleast1250hoursduringthe12‐monthperiodimmediatelyprecedingthecommencementoftheleave.AnemployeemayapplyforleaveundertheFMLAbycompletingtheappropriatespacesonaleaverequestform.Theemployeeordinarilymustprovide30daysadvancenoticewhentheleaveisforeseeable.Additionally,medicalcertificationtosupporttherequestisrequired.AgCenterPS‐12providesadditionaldetails.
EducationalLeaveforLSUSystemCoursework&TuitionExemptionProgramEligibleemployeesmayregisterforjob‐relatedcoursesatparticipatinginstitutionsintheLSUSystem,foruptosixcollegecredithoursperregularsemesterandreceivetuitionexemption.(Note:Theexemptionistypicallyfortuitiononlyanddoesnotapplytomostfees.Also,thevalueoftheexemptionmaybeconsideredtaxableincometotheemployeeinaccordancewithInternalRevenueServiceregulations.)Anemployeemustmeetallofthefollowingcriteriatobeeligiblefortuitionexemption:(1)mustbeemployedfull‐timeforatleastoneyearinaneligibleposition;(2)mustbeafull‐timenon‐academicorotheracademicemployee–
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excludesfaculty(instructors,professorialranks,etc.)andfacultyequivalentranks(agents,etc.);(3)thecollegecreditcourse(s)mustbejob‐related,andmustbeapprovedbytheimmediatesupervisorandunithead;and(4)onlythreehoursperweekofjob‐relatedcoursesmaybetakenduringworktimewithoutchargetoleaveormakinguptime.Continuedparticipationinthisprogramisbasedonsatisfactoryacademicprogress.Duringthefirstyearofemployment,employeesareeligiblefortimeoff,butnotfortuitionexemption.Applicationsaredistributedtoallunitheadspriortoeachsemester.EducationalleaveisgovernedbyAgCenterPS‐25.
MilitaryLeaveMilitaryleaveofupto15dayspaidleavemaybegrantedtoemployeeswhoaremembersofareservecomponentoftheArmedForcesoftheU.S.oroftheNationalGuardwhentheyareorderedtoactivetrainingduty.
LeaveWithoutPayLeavegrantedtoemployeesforgoodcauseunderstipulatedconditions.
HOLIDAYS____________________________________________________________________________________
Full‐time,fiscal(12month)employeesreceive14holidays.BecausetheUniversityCalendarisintendedtoservetheoperationalneedsoftheUniversitycommunity,itdoesnotnecessarilyfollowthestate’sholidayschedule.HolidaysincludeIndependenceDay,LaborDay,Thanksgiving,ChristmasNewYear’s,MardiGras,EasterandotherholidaysasannouncedbytheUniversityeachfiscalyear.
PAYDAYS_____________________________________________________________________________________
Exceptasnotedbelow,foracademic/unclassifiedemployees,paydayisthelastworkdayofthemonth.Classifiedemployeesarepaidonabi‐weeklybasiswithpaydayoccurringeveryotherFriday.Paydaysareadjustedaccordinglywhentheregularlyscheduledpaydayfallsonaholiday.Allemployeepaychecksaredistributedbyelectronicdirectdeposittothebankoftheemployee’schoice.EmployeesmayreviewtheirdepositstubseachpaydaythroughtheironlineMyLSUaccountandarestronglyencouragedtoreviewtheirgrosspayandpayrolldeductions.AnydiscrepanciesshouldbepromptlyreportedtotheAgCenterHumanResourceManagementoffice.
STAFFDIRECTORY
Foradditionalinformation,pleasevisittheHumanResourceManagementwebsiteat
http://www.lsuagcenter.com/en/administration/about_us/Human_Resources
orcontacttheappropriatestaffmemberlistedbelow.
KevinBrady,DirectorGeneralHRMPolicies,EmployeeRelations,Immigration(HVisas),EEO,DiversityEmail:[email protected]:(225)578‐4640
SharonSalzer,AssistantDirectorCompensation,InformationSystems,EEOReporting,TrainingEmail:[email protected]:(225)578‐4643
DeniseFontenot,HRManagerClassifiedEmployment,ClassifiedPerformanceReview,LeaveCertificationEmail:[email protected]:(225)578‐8685
ElaineHenderson,HRAnalystAcademic,UnclassifiedandGraduateAssistantProcessingEmail:[email protected]:(225)578‐4641
DoloresNehlig,HRManagerEmployeeBenefits,ImmigrationEmail:[email protected]:(225)578‐4631
KristenManes,HRAnalystAcademicAppointments,EmployeeBenefits,EmploymentEmail:[email protected]:(225)578‐4629
JessicaWinders,HRAnalystClassifiedEmployees,TransientProcessing,Payroll,Immigration(JVisas)Email:[email protected]:(225)578‐8223
StephenSmith,HRAnalystEmployment,AcademicProcessing,StudentProcessing,LeaveProcessingEmail:[email protected]:(225)578‐0324
Address:LSUAgCenter
HumanResourceManagement103J.NormanEffersonHall110LSUUnionSquareBatonRouge,LA70803
HRMMainPhone:(225)578‐2258
FAX:(225)578‐8284