The 125 Plan allows employees to pay for health and dental insurance  premiums with pre-tax dollars. This means that because no federal, state, or social security taxes are withheld from the money used to pay these premiums, your take home pay will be reduced by less than the actual amount of the premiums.  Because these deductions are pre-tax, elections may be changed only during the annual open enrollment period held during  October of each year.   There are certain lifesytle change exceptions (birth, adoption, divorce, marriage, job change, etc.) that will permit you to make changes in your pretax elections at any time during the year.

Regular faculty and classified staff members who work 20 hours or more per week are eligible to participate in this plan. The Long-term monthly benefit is 60% of the participant's salary with a maximum of $7,000. You may elect either a 90-day or a 150-day waiting period before long-term benefits begin.

Macon State College has contracted with ADP to manage our Dependent and Health Care Flexible Spending Accounts. Please visit the ADP website:

ADP FLEX SPENDING

Information about the benefits of FSAs, forms and account access is available at this webiste.

Group life insurance is provided to employees who work 20 hours or more per week. Employees receive $25,000 of life insurance at no cost. This coverage includes double indemnity for accidental death and coverage for dismemberment due to an accident.

Supplemental life insurance is available in amounts equal to one, two, or three time(s) your annual salary. This insurance is optional, and the employee pays the cost. The premiums are based on the age of the insured and the amount of coverage selected.

Dependent Life insurance is also available. Coverage includes the employee's spouse and unmarried dependent children up to age 19 (age 25 if a full-time student). Dependent coverage is $2000 for children to six months of age and $10,000 for all other eligible dependents. The cost for this coverage is $4.70 per month per family.

For more information on the University System of Georgia's life insurance programs and to review the Summary Plan Description, click on the link below.

http://www.usg.edu/hr/benefits/life_insurance/

Full time employees may choose one of four healthcare options: Preferred Provider Organization (PPO), HSA PPO (high deductible plan), Blue Choice HMO or Kaiser Permanente HMO.   

 

Human Resources provides each benefits-eligible employee with complete descriptions and comparisons of benefits for each of the available medical plans. A new employee must select the type of coverage desired within 31 days of their employment date. Enrollment is not allowed after this period, except during an open enrollment period.For more information on coverage, provider directories, etc.please click on the link below

Medical Insurance Information

Georgia Law requires membership in the Teachers Retirement System of Georgia (TRS) or an Optional Retirement Plan (ORP) for all regular employees who are under age 60 and who work part-time or more. The ORP, however, is only available to faculty and certain key administrators.

The employees' contribution to TRS is 5.53% of gross salary. This contribution rate is applicable regardless of the source of salary. Employee contributions are deducted on a before-tax basis (before federal and state government income tax). FICA is paid on contributions as on any other salary. Federal and State of Georgia income tax is deferred until the account is withdrawn or retirement benefits are received.

Vesting in the TRS occurs at completion of ten years of service. Vesting for the ORP is immediate.

See also -

Teacher's Retirement System of Georgia (TRS)

Optional Retirement Plans (ORP)

Macon State College provides a tax sheltered account program as authorized under section 403(b) of the Internal Revenue code. Salary reduction agreements are processed through the office of Human Resources. A variety of insurers and mutual fund companies are available for contributions. Contact the Human Resources Office for a complete list of available companies.