Newly eligible employees have 35 days for which to enroll in insurance coverage. The coverage takes effect on the 36th calendar day of employment.
Eligible for Full Employer Contribution toward Insurance: Employees who are employed at least 75 percent time for 9 months or more are eligible for the full employer contribution toward health, dental and basic life insurance.
Eligible for Partial Employer Contribution toward Insurance: Employees who are employed at least 50 percent time but less than 75 percent time for 9 months or more are eligible for a partial employer contribution equal to 75 percent of the full employer contribution toward health, dental and basic life insurance.
Employees with appointments of at least 25% time participate (if under age 65) on a pre-tax basis in the retirement program. Options include: immediate vesting in the Defined Contribution Retirement Plan (DCR includes a variety of investment companies); or vesting after 3 years in the Teachers Retirement Association (TRA) a defined benefit plan. The employee contributes 4.5% to DCR, and 5% to TRA. The university contributes 6% to DCR and 5% to TRA.
Effective with the fiscal year following two years of full-time employment, the employee contributes and the university matches 5% of annual salary up to $2,200 per year for the employee's participation in the Supplemental Retirement Plan. See MSUAASF Agreement Article 12.
Other Pre-tax Benefits
Employees seeking other tax advantaged vehicles have the option to participate in either a 403(b) tax sheltered annuity program and/or in a 457 deferred compensation program. Both provide a choice of investments for retirement savings. For more information about these, please visit: http://www.hr.mnscu.edu/employees/retirement/index.html
Vacation - 6.75 hours/pay period to begin, with accrual increasing with years of service.
Sick leave - 4 hours/pay period.
Personal Leave - Up to 4 days each fiscal year after 6 months of service.
Funds for Professional Development and Professional Improvement are available to employees each year upon submission and approval of applications.
Employees, their spouses or dependents are entitled to enroll with waiver of tuition, on a space available basis, in up to 27 semester credits/year at any Minnesota State university.
*This information is subject to change consistent with MMB Benefits Division provisions, and with terms of the Agreement between Minnesota State and MSUAASF. For more details about any of the information in this summary, please contact Human Resources, 651-793-1275 or by email: Human.Resources@metrostate.edu.