Rider offers four medical plan options that are underwritten by Aetna. An Open Access Point of Service (POS) Plan with a reimbursement that reflects: a) 100% in- network and 80% out of network. b) 90% in-network and 70% out of network c) Health Maintenance Organization (HMO) coverage and d) High Deductible Plan called Advantage Health Savings Plan. Employee contributions are based on coverage selected and salary. Rates are in effect for 12 months and are set each January. Coverage is effective the first of the month following one full month of employment. Compare Aetna Plans (pdf)
Group term insurance is provided equal in value to two times the annual base salary. Coverage is effective the first of the month following one full month of employment. Premium costs are paid by the University. Life Insurance plan details.
Employees may elect dental insurance through the Aetna dental plan. Employees are responsible for all premium costs. A summary of the plan features is available in Human Resources: Preferred Provider Organization (PPO) and Dental Maintenance Organization (DMO).
Medical/Dental Plans Costs: 2017
Employees’ dependents may attend undergraduate classes at Rider without payment of tuition. For dependent children, up to 80% of the cost of Rider’s tuition may be granted toward undergraduate tuition expenses at another accredited institution.
Employees may attend graduate courses at Rider exempt from tuition costs with approval from the Associate Provost. Dependents may attend graduate courses at Rider exempt from one-half of tuition cost.
You are covered in the event you become disabled or die due to a work related illness or injury. In the case of disability you will receive medical coverage and wages for time lost from work. Payment amounts are determined under guidelines set forth by the New Jersey Compensation, Rating and Inspection Bureau as established by New Jersey State statutes. Rider pays the full cost of this benefit.
FAMILY LEAVE INSURANCE
State of New Jersey provides up to six weeks of benefit payment to care for a newborn or sick family member. The State requires that this program be financed by employee contributions. Family Leave details (pdf).
Short-term disability is effective upon date of hire and provides weekly benefits of two-thirds of salary payable for up to 26 weeks for an accident or illness that is not job related. The maximum weekly benefit is set by the State of New Jersey each year. You and Rider share in the cost of this benefit. Salary continuation is also provided based on length of service at the time of the onset of disability.
LONG TERM DISABILITY
If approved by the vendor, benefits of two-thirds monthly salary are payable after six months of disability based on a schedule and your age when you become disabled. The cost is paid by the University. Coverage is effective after one year of employment or first of month after date of hire if the employee had coverage with a previous employer within the three months prior to hire. Disability plan details (pdf).
Rider has a defined-contribution retirement plan underwritten by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF). All regular employees are eligible to participate on a voluntary basis on the September 1 or March 1 coincident with or following the first anniversary of their employment. This waiting period is waived for new employees who have completed one year of service with another employer maintaining a 403(b) plan. Eligible employees must contribute a minimum of 5% in order to participate, and the University provides a 5.0% contribution for each participant. Employee and employer contributions are fully vested, and may be directed to fixed-income and/or equity vehicles. Supplemental Retirement Annuities, which have certain flexible provisions, are also available. In the event you become totally disabled and are enrolled in the plan, the University will continue a 10% contribution to your annuity contracts.
Flexible spending reimbursement accounts may be established for medical and/or dependent care expenses. Contributions are made by salary reduction and reimbursements are not taxed. Employees are eligible for a supplemental University contribution beginning January 1 of the plan year, following completion of one year of full time service. Flexible spending plan details (pdf).
The above list is intended as a general guide and does not constitute the terms of a contract. These benefits are subject to the terms and conditions of each plan as specified in the plan documents.