Advantages Orientation Benefits Design Management

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Arizona State University Benefits Orientation Benefits Design & Management

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WHO IS ELIGIBLE? Worker: Working no less than 20 hours for every week For a foreseen least of six months

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WHO IS ELIGIBLE? Your lawful life partner Domestic accomplice – see criteria on HR Benefits site Children: unmarried, under age 19 Children: age 19 through 24, unmarried and a full-time understudy Undergraduate understudy = 12 credit hours Graduate understudy = 9 credit hours Vocational school = full-time arrangement "More seasoned Child" – see qualifying criteria on HR Benefits site Not full-time understudy Covered under State of AZ Plan – age 18 Unmarried dwells inside AZ

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MANDATORY DOCUMENTATION NEEDED Spouse with various last name: Copy of marriage permit Child with various last name: Copy of birth testament or court arrange Stepchild: Copy of birth authentication & marriage permit Disabled individual: Copy of Social Security Letter of Determination or letter from doctor

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MANDATORY DOCUMENTATION NEEDED DOMESTIC PARTNER Submit Qualified Domestic Partner Affidavit Submit Declaration of Tax Status Submit no less than three reports supporting (See HR site for cases of supporting documentation) Domestic Partner Child Meets an indistinguishable criteria from youngster or more established tyke

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MANDATORY DOCUMENTATION NEEDED OLDER CHILD Older kid secured by a health care coverage arrange made accessible by the state amid the year the individual was 18 Resides in Arizona Younger than 25 years old Is unmarried

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NEW HIRE EFFECTIVE DATE 1 st of the Month taking after your date of contract and receipt of finished enlistment shape Transfers & rehires inside 31 days have no loss of scope

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ENROLLMENT DEADLINE You should select inside 31 days of your qualification date (enlist date)

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HOW TO ENROLL Complete Paper – Benefit Enrollment Form http://www.asu.edu/hr/benefits/enrollmentforms.html

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PLAN YEAR October 1 through September 30 Elections are in actuality for the whole arrangement year unless you encounter a Qualifying Life Event (QLE)

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QUALIFYING LIFE EVENT (QLE) COMMON EXAMPLES Marital status changes Dependent status changes Spouse's business status changes Benefits Declaration For Change frame must be submitted to HR inside 31 days of the QLE (Documentation must be given)

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MEDICAL NETWORKS

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2008/2009 RATES

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OUT-OF-AREA COVERAGE All representatives have Emergency and Urgent Care benefits anyplace on the planet Employees with an EPO arrange have routine administrations accessible broadly , through either Beech Street or UHC national EPO (i.e. wards going to class out of state) Employees with a PPO arrange have routine administrations accessible worldwide on an Out-of-Network premise Refer to Benefits Guide page 25

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WALGREENS HEALTH INITIATIVES PRESCRIPTION PLAN If you pick mark name instead of bland, you pay the cost differential Refer to Benefits Guide pages 16 - 19

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DENTAL NETWORKS

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2008/2009 RATES

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AVESIS VISION PLAN

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SHORT TERM DISABILITY Covers non-work related mischance or ailment After-duty conclusion – advantage not saddled Select one of two accessible arrangements Standard Insurance Company Unum Refer to Benefits Guide pages 31 & 32

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BASIC LIFE INSURANCE $15,000 term protection Go online to name recipients SUPPLEMENTAL LIFE For representative, mate, wards Standard Aetna ReliaStar Refer to Benefits Guide pages 28 - 30

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FLEXIBLE SPENDING ACCOUNTS IRS controlled arrangements Helps diminish your assessable wage Pre-charge commitments Monies are sent to the Plan Administrator, ASI, and put in one or both records: Health Care Account Dependent Care Account Estimate painstakingly – "Utilize it or Lose it" Refer to Benefits Guide pages 34 - 36

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FLEXIBLE SPENDING ACCOUNTS January 1 – December 31 arrange year Reimbursements can be immediate kept to your record – shape online Claims for plan year must be put together by March 31 of the accompanying timetable year You should re-enlist amid FSA Open Enrollment each November to proceed with plan support

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VOLUNTARY BENEFITS Savings Bonds Auto, mortgage holders, obligation insurance MetLife ® Auto & Home Long-Term Care Insurance Unum

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Voluntary 403(b) Plan Deferred Compensation Plan 457 May enlist in either or both arrangements, notwithstanding essential retirement plan May enlist or roll out improvements whenever Pre-impose commitments No coordinating commitments Maximum 2008 schedule year commitments $ 16,500 age 49 & more youthful $ 22,000 age 50 & over

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REDUCED IN-STATE TUITION Credit classes taken at ASU, NAU & UA Active advantage qualified representatives Retirees Disabled representatives Spouse and wards Refer to SPP 505

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VACATION ACCRUAL

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SICK ACCRUAL All workers accumulate wiped out leave at 3.69 hours for every payroll interval (12 days for each year) Policies SPP 701-01 and ACD 702-02

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RETIREMENT Participation in a retirement plan is MANDATORY for workers working at least 20 hours for every week For an expected 20 weeks Employees with F1 or J1 Visa may not be qualified to take an interest Postdoctoral researchers are not qualified to take part

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RETIREMENT PLANS

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ARIZONA STATE RETIREMENT SYSTEM (ASRS) http://www.asu.edu/hr/benefits/retirement_programs.html

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ASRS = Defined Benefit Plan Benefit is dictated by computation: Years of Service x Average Salary x % Multiplier Years of Service with any ASRS boss Average Salary = most astounding 36 successive months in most recent 10 years % multiplier = 2.10% - 2.30%, controlled by number of years of administration

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ASRS RETIREMENT Normal Retirement Age 65 with any ASRS benefit Age 62 with 10 years of ASRS administration 80 Points (your age + years of ASRS administration) Early Retirement Age 50 with 5 years of ASRS administration

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ASRS CONTRIBUTIONS You & ASU contribute similarly per payroll interval 8.95 % pay toward retirement 0.50 % pay toward Long-Term Disability Pre-charge commitments

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ASRS VESTING Always 100% in your own particular contributions In manager commitments 25 % after 5 ASRS years 40 % following 6 ASRS years 55 % following 7 ASRS years 70 % following 8 ASRS years 85 % following 9 ASRS years 100 % following 10 ASRS years

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OPTIONAL RETIREMENT PLAN (ORP) Optional Retirement Plan Guide and http://www.asu.edu/hr/benefits/retirement_programs_faculty.html

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ORP = Defined Contribution Plan Your retirement pay relies on the execution of your speculations You pick the venture organization and allot the assets

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ORP CONTRIBUTIONS You & ASU contribute similarly 7 % per payroll interval Pre-charge commitments Automatic enlistment in Long-Term Disability; ASU pays 100% premium

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ORP INVESTMENT COMPANIES AIG Retirement (VALIC) Fidelity TIAA-CREF You can change organizations once per financial year July 1 st – June 30 th You can change speculation vehicles at whatever time

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ORP VESTING Always 100 % in your own commitments In business commitments: 100% following 5 years of cooperation or Immediately with evidence of a dynamic retirement arrange at another foundation of advanced education

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Questions?

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