Purpose

To provide for the financial security of employees who are unable to perform the duties of their job due to a long-term or permanent disability caused by accident or illness.

TIAA Long-Term Disability Insurance

Eligibility

Full-time employees on regular appointments in the following employee classes are eligible to participate in the TIAA Long-Term Disability program following the completion of one full year of employment:

• Executive
• Administrative/Managerial
• Teaching Faculty
• Research Faculty
• Professional Staff

Enrollment

The appropriate enrollment application forms should be completed at the time of orientation and will remain on file in the Human Resources Office. Upon the completion of the first full year of employment, the application forms will be forwarded to TIAA.

Contributions

The full cost for this benefit is paid by the University at this time. The University reserves the right to require employees to contribute toward a portion or all of this benefit should future financial circumstances so dictate.

Summary of Benefits

Effective Date of Benefits

Benefits for eligible employees begin on the first day of the month after six months of continuous Disability. [During this time they may use their accumulated sick and annual leave to continue receiving a paycheck.]

Benefit Expiration

Benefits continue during the period of continuous Disability until the following age or time limit:

Benefit Types and Amounts

Monthly Income Benefit

A monthly income benefit equal to 60% of the employees monthly wage base will be paid up to a maximum of $2000 per month. Benefits from other sources such as Social Security and Worker's Compensation will be subtracted from the monthly benefit. In no event will the Monthly Income Benefit be less than $100 or if greater, 10% of the Monthly Income Benefit before benefits from other sources are subtracted.

If monthly earnings while disabled exceed 20% of the Increasing Monthly Wage Base, this benefit may be adjusted.

Monthly Annuity Premium Benefit

If the employee participates in that retirement plan, 12.5% of the employee's monthly wage base will be credited to the employee's TIAA/CREF annuity accounts.

If monthly earnings while disabled exceed 20% of the Increasing Monthly Wage Base, this benefit may be adjusted.

Annual Benefit Increase

The Monthly Income Benefit and Monthly annuity Premium Benefit will increase by 3% each year. The first increase takes effect as of twelve (12) months after the date TIAA benefits are first payable. Future increases will take effect on the first day of the same month each year thereafter.

Survivor Income Benefit

A benefit equal to three times the last monthly income benefit received by the employee will be paid to the surviving dependent the first day of the month after the employee's death, if the employee has been disabled for at least twelve (12) months.

Exclusions

No benefits will be paid if disability is caused by: (1) an intentionally self-inflicted injury, or (2) war.

GERS Disability Retirement

Eligibility

GERS participants with nine (9) years of credited service, who become permanently disabled are eligible for Disability Retirement.

Benefits

Benefits are calculated as follows:

2% of Final Average Salary X Years of Credited Service.

The minimum benefit is 20% and the maximum is 60% of Final Average Salary.

Post-Retirement Adjustments

Regular retirement benefits are increased by 1.5% of the original retirement benefit each year after the attainment of age sixty (60). Disability benefits are increased by 1% per year prior to age sixty (60).