The flexible benefits program is designed to include a series of core benefits for which all full time employees are eligible, and a choice of benefits from which employees may select preferred benefits within the maximum allowable allocation for benefits of choice. A brief summary of the flexible benefits are listed below. Employees are encouraged to obtain plan documents and details from the Human Resources Department. Should there be any conflicts between this document and the terms and conditions of applicable plan documents, insurance policies and/or Uuniversity policies, the official text of the plan, insurance policy or University policy will govern.


A. Long Term Disability: Effective the date of hire, the University provides group disability insurance for full time employees and will pay the premium for the cost of the benefit. Long Term Disability provides a monthly income benefit that equals 60% of your gross monthly wage base after ninety (90) calendar days of continuous total disability.

B. Retirement: Upon meeting eligibility requirements, staff employees have a one-time opportunity to join either the Defined Benefit Pension Plan or the Defined Contribution Pension Plan.

Defined Benefit Pension Plan

After completing six (6) months of service, attaining age twenty and one-half (20 ½), [excluding clergy, professionals (faculty)] employees* are eligible to participate in the University's Defined Benefit Pension Plan. To receive credit for a year of service, you must have completed at least 1,000 hours of service. The benefit amount is calculated using a benefit formula. The University pays the contribution to this plan on your behalf. Participants are vested according to a graded vesting schedule.

Normal Retirement is defined as the first day of the month following a participant's sixty-fifth (65th) birthday, or following five (5) years of participation, whichever is later.

Tax Deferred Annuity Retirement Plan (TIAA-CREF)

On the first day of the month coinciding with or next following the completion of one year of service and attaining age 20 ½, employees are eligible to participate in the University's Tax Deferred Annuity Retirement Plan (TIAA-CREF). For purposes of eligibility for participation, years of service with an "Eligible Employer" during the period immediately preceding your date of hire at Misericordia University will be counted. Employees are required to select a contribution percentage as shown below. Institutional contributions will be made for those making required participant contributions.

By the Employee By the University
2% 6.5%
3% 6.5%
4% 6.5%
5% or more 8%

Contributions are tax sheltered as provided under section 403(b) of the Internal Revenue Service Code. Employees are 100% vested in all contributions and earnings from their participation date.

Normal retirement age is the last day of the academic year in which age 65 is attained.

For more information regarding TIAA-CREF, go to the TIAA-CREF website at or contact the Human Resources Department.

* Separate Pension Plan arrangements have been made for Sisters of Mercy employed by the University.

C. Supplemental Retirement Annuity: All employees are eligible to begin participation upon the date of employment. The employee determines the amount of contribution (as allowed by Section 403(b) and 415 of the Internal Revenue Code). All contributions are tax sheltered as provided under section 403(b) of the Internal Revenue Service Code.

D. Life Insurance/AD&D: The University provides all full time employees with a life insurance/accidental death & dismemberment benefit equivalent to your base salary rounded to the next one thousand. The maximum benefit is $100,000.

E. Social Security: The University contributes to Social Security for all employees in accordance with the Social Security Act.

F. Benefits of Choice: Effective the first of the month coincident with or the next month following their hire date, all full time employees are eligible to select their choice of benefits from the following menu:

  1. Medical
  2. Dental/Vision
  3. Group Term Life Insurance for participant (pre-tax), spouse and dependent children (after-tax)
  4. Accidental Death & Dismemberment
  5. Medical Spending Account
  6. Dependent Care Spending Account
  7. Cash
  8. A waiver bonus is provided for those employees who waive medical and/or dental/vision benefits.

    Revised 03-10

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