Benefits Overview
UMass Chan Staff Benefits
The Group Insurance Commission offers 8 different health plans for UMass Chan Employees. Employer pays 75% of health insurance plan premium; Employee pays 25% through payroll deduction.
7 out of 8 plans are available to employees living in Worcester County. If you are living outside of New England, you are eligible for the HP Access America plan.
UMass Chan offers Dental Insurance through Cigna for you and your family. There are two levels of coverage to choose from:
Basic Plan: No cost to employee
Plus Plan: Additional employee premium: $10.00, Family $36.43
UMass Chan offers a voluntary Vision plan through Guardian Insurance for you and your family. This plan utilizes the VSP network of providers. Individual $2.94, Family $8.10
UMass Chan offers a voluntary Short Term Disability Plan through Guardian insurance. Link includes “How to Calculate Your Premium.”
GIC offers both Basic Life Insurance and Optional Life insurance. Basic coverage is included with any health insurance enrollment. Optional Life Insurance is voluntary, with automatic approval during the new hire period.
GIC offers Long Term Disability Insurance. Long Term Disability is voluntary, with automatic approval during the new hire period.
GIC offers Flexible Spending Accounts through AmeriFlex. HCSA: Eligible health care related expenses. DCAP: Eligible dependent care related expenses.
Mandatory Retirement Plans
UMass Chan requires that all benefitted employees contribute to one of our two mandatory retirement plans.
Massachusetts State Employee Retirement System (MSERS)
The MSERS Pension Plan (Massachusetts State employee Retirement System) is the default retirement plan option administered by The State Board of Retirement. Mandatory contributions are 9% of salary and 2% of salary over $30,000, up to applicable limits.
Professional level employees are eligible to elect an alternate retirement plan in lieu of the pension. The Optional Retirement Program is a 401(a) defined contribution plan. Mandatory contributions are 9% of salary and 2% of salary over $30,000, up to applicable limits.
Voluntary Retirement Plans
UMass offers a voluntary 403(b) plan which allows you to contribute to your retirement through payroll in a pre-tax or post-tax manner.
The Commonwealth of MA offers a voluntary 457(b) plan which also allows you to contribute to your retirement through payroll in a pre-tax or post-tax manner.