Faculty Benefits

A. GROUP INSURANCE

Centenary faculty and their dependents are covered under a self-insured group comprehensive medical plan. This plan is currently administered by Cigna. Group health insurance coverage is offered to the extent of an employee's full-time employment contract. As long as a person has signed a contract for the following year, he or she is covered through the summer. Those on unpaid leave-of-absence may continue their health insurance by paying the entire amount of the insurance premium. For faculty on paid sabbatical leave, insurance continues in the same manner as if they had continued to teach. Emeritus faculty members are no longer eligible for Centenary group insurance. Retirees, however, may carry a Medicare Supplement through the Centenary group insurance, but they pay the full premiums. Faculty members must either participate in the plan or sign a waiver indicating they do not wish to do so. Centenary College will extend medical/dental coverage for 18 months beyond employment termination (COBRA). COBRA is fully paid by the former employee and also includes dental and vision, which is currently provided by Guardian. The Economic Policy Committee periodically reviews this coverage and makes recommendations for change when appropriate. Centenary College provides a self-funded Short Term Disability for full-time faculty and full-time employees. In the event a faculty member or employee becomes eligible for payment of Short Term Disability, the College will continue to pay the College’s portion of health insurance and retirement until the termination of the Short Term Disability or the termination of the appointment. After termination of short-term disability, the disabled faculty member is eligible to participate in their Long-Term Disability plan.

B. RETIREMENT PROGRAM

A retirement plan for faculty members is provided by the College through the organization known as Teachers Insurance and Annuity Association (TIAA). TIAA is a legal reserve life insurance company organized by the Carnegie Foundation to issue annuities and life insurance especially designed for employees of colleges and universities. Faculty hired after January 1, 1996 have the option to join the retirement plan. Faculty hired before that date and still not participating in the plan are “grand-fathered” in under the rules of the previous plan, which required faculty to join when reaching tenure. The one-year waiting period is waived for faculty with “active retirement plans” from other schools. To participate, employees contribute part of their gross earnings through a tax-sheltered payroll deduction plan.

Benefits of the plan are dependent upon age and amounts contributed and will therefore vary in each individual case. Information concerning the computation of benefits and other details can be found in TIAA publications available at the payroll office of the College.

TIAA and CREF Supplemental Retirement Annuities are available for use by faculty members who want to set aside tax-deferred funds over and above those being accumulated in the basic retirement plan.

Effective December 1, 1997, any Post Retirement teaching faculty will not be eligible to participate in the retirement plan. Post Retirement teaching faculty is defined as any retired Centenary faculty member who elects to continue teaching at Centenary College.

Retired faculty and their dependents are entitled to identification cards that extend to them the same privileges of admission to college functions such as plays, concerts, lectures and athletics events that are enjoyed by the active faculty. This benefit applies also to surviving spouses and dependents of deceased faculty members.

C. TUITION SCHOLARSHIPS

Centenary College follows the following policy regarding full-time faculty/staff tuition remission. Employees hired before June 1, 1987, are covered by the policy in force at the time they were hired. Full-time faculty and staff members employed after June 1, 1987, are entitled to tuition remission the first semester after serving 12 months of continuous employment at the College. Effective January 1, 1997, dependents are entitled to a reduction of 25% of tuition costs the first year; after 12 months of employment a reduction of 50% will be given. After 24 months of employment, a reduction of 75% will be given, and after 36 months of employment, dependents may have full tuition benefits. These remission benefits take effect beginning with the first full semester after the condition for remission is satisfied. No fees are included in the remission. The percentages apply to the number of hours the dependent is taking: for example, twenty-five per cent of the cost of one course or 25% of the cost of a full load will be remitted. These benefits apply to dependents of retired or disabled employees and to dependents of full-time employees who die while employed. No tuition remission will be available for graduate training.

Those eligible for scholarship and federal aid benefits are encouraged to apply for these sources of aid that may be available to them in an effort to reduce the financial burden to the College. College tuition remission will be reduced by the amount the dependent receives from other sources designated as tuition scholarship aid.

D. UNDERGRADUATE TUITION REMISSION POLICY

Centenary College wishes to encourage its employees to continue their education through either auditing or registering for and attending undergraduate classes. All full-time, disabled, and retired employees may take any undergraduate course free of charge (limited to one course per semester) after a year of continuous employment at the College, subject to supervisor approval and seat availability.

Dependents of full-time Centenary College employees are entitled to a discount schedule for remission of their tuition. A dependent is defined as a legal spouse, domestic partner or legal dependent under the age of 25.

During the first 12 months of employment, dependents are entitled to a 25% discount on tuition, after 12 months of employment a reduction of 50% will be given, after 24 months of employment a reduction of 75% will be given, and after 36 months dependents may have full tuition benefits. No fees are included in the remission. Percentages apply to the number of hours the dependent is taking. Dependents are eligible to use tuition remission toward their first undergraduate degree only.

F. GRADUATE TUITION REMISSION POLICY

Centenary College wishes to encourage its employees to continue their education by enrolling in its Graduate Program. The parameters of the program are as follows:

• The program is open only to Centenary employees.
• Employees must be admitted to the M.A.T. or M.B.A. based on normal admission criteria. Prior experience or academic record may be considered at the discretion of the program director.
• Employees must have the approval of their supervisor to participate in the program under this benefit.
• To be eligible for this benefit, employees must be vested at the College according the following schedule: after one full year of employment, tuition will be reduced by 50%; after two full years of employment, tuition will be covered at 100%. No fees are included in the remission. Percentages apply to the number of hours and published tuition rate for the term in which the employee is seeking to enroll. Vesting requirements may be waived in certain circumstances at the discretion of the College.
• Non-pay employees may only enroll in one course per term.
• Non-pay enrollment will typically be limited to approximately 10% of total class size in any given course at a time. In case of multiple applicants to the program, the Graduate Council will determine priority, based on factors such as seniority, supervisor recommendation, and documented job performance.
• Non-pay employee students will only be allowed to register for courses that have reached a minimum enrollment of full-pay students and in which instructors receive 100% of payment to teach the class.

Those eligible for scholarship and federal aid benefits are expected to apply for these sources of aid that may be available to them in an effort to reduce the financial burden to the College. College tuition remission will be reduced by the amount the dependent receives from other sources designated as tuition scholarship aid.

G. TUITION EXCHANGE

Centenary participates in three tuition exchange programs: The Tuition Exchange Program, Associated Colleges of the South (ACS) and The Council of Independent Colleges Tuition Exchange Program (CIC-TEP). Only employees that are eligible at the 100% level as listed above may utilize the tuition exchange program. An eligible employee should contact the Centenary Financial Aid Director with their dependent’s information and the list of colleges and/or universities that the dependent is interest in.

H. SOCIAL SECURITY

In addition to TIAA, all employees of the College are covered under the Federal Insurance Contributions Act (Social Security). Payment is made by the employee through deductions from each paycheck. In addition, the College, as employer, pays an equal amount for credit to the employee's social security account.

I. DIRECT DEPOSIT

Centenary College has implemented Direct Deposit of payroll checks effective June 1, 1994. All employees hired after May 31, 1994, will be required to participate.

J. PARKING

A system of parking regulations applies to all vehicles used on campus. Vehicle registration is available through the Department of Public Safety via the web.

K. HOUSING

College-owned housing may be available to faculty members through Facilities Services. For all new rentals, the College may set a time limit on occupancy.

L. DISCOUNTS

There is a 10% faculty discount available on most items from the college bookstore.