III. Employment Benefits
The following benefit programs are available to both hourly and salaried employees. Full details of the insurance programs are provided in separate plan documents (which are controlling), booklets, certificates, and descriptions.
Employees who are scheduled to work a minimum of 1040 hours per year are eligible to participate in the College benefit programs. Employees in this category are referred to as “benefits eligible.”
Knox College extends full benefits to both same and opposite sex domestic partners of its employees. Knox College defines domestic partners as two individuals of the same or opposite sex who are in a long-term relationship of indefinite duration. There must be an exclusive mutual commitment, in which the partners agree to be responsible for each other's common welfare and financial support and share financial obligations.
In order to be eligible for benefits, the employee and domestic partner must sign a Statement of Domestic Partnership and provide supporting documentation indicating that they meet the requirements set forth in the document.
Children of domestic partners may qualify as eligible dependents if either domestic partner is the biological parent of the child, or if either or both parents are adoptive parents of the child. In all cases, the child must be eligible to be claimed as a dependent under Section 152 of the Internal Revenue Code. Employees are advised that benefits for their domestic partners and children are taxable, and they may wish to consult a tax advisor for further clarification.
To obtain forms and additional information, please contact Knox College's Office of Human Resources at 341-7137.
New employees should contact the Human Resources Office within three days of starting work to discuss benefits and complete enrollment forms.
A. Life Insurance
The College provides group life insurance for all benefits eligible employees. The amount of insurance is 250% of the basic annual salary with a $100,000 maximum. Accidental death and dismemberment benefits are provided. Spouses/partners and dependent children are covered for dependent life benefits: $2,000 for spouse/partner and each child age birth to 19 years or 24 years if a full-time student. Employees who were hired prior to January 1, 1992 in a benefits eligible position and who retire after age 55 with ten years of service are eligible to continue coverage for themselves and their spouses/partners. The amount of insurance for eligible retirees is $5,000 and for spouses/partners of retirees is $2,000.
The College pays the entire cost of the life insurance for employees, dependents and retirees. There is no waiting period.
B. Optional Term Life Insurance
Benefits eligible employees may apply for additional term life insurance for themselves and their dependents. For additional information, contact the College’s Benefits Coordinator.
C. Medical Insurance
The College offers a self-funded group health insurance plan that is administered by a third party administrator. This plan is available to all benefits eligible employees. It is a major medical plan. Benefits include medical, dental and vision, as well as a prescription drug card.
Employees who were hired prior to January 1, 1992 in a benefits eligible position and who retire after age 55 with ten years of service may continue coverage for themselves and their spouses/partners. Coverage becomes a supplement to Medicare for qualified retired persons at age 65. The cost of retiree insurance is paid 50% by the College and 50% by the retiree.
D. Disability Insurance
The College offers group long-term total disability insurance. In case of permanent disability, after six months this insurance provides income together with Social Security and other benefits equal to 60% of the employee's monthly salary with a maximum monthly benefit of $10,000. This insurance also continues to make all contributions, until normal retirement date, into the retirement plan at the rate prevailing when the employee became disabled.
Employees pay 1/4 of 1% of salary and the College pays the balance of the cost of this benefit. Two years of service satisfies the waiting period.
E. Flexible Payment Plan
Under Section 125 of the Internal Revenue Code, benefits eligible employees are allowed to pay for certain expenses with "before-tax" dollars. This means you do not pay federal and state income tax or Social Security tax on dollars deducted from your pay for the Flexible Benefit Plan (FBP).
There are three options offered under the FBP. Employees may elect to participate in any one or all three options.
- Option 1: Health Insurance Premiums may be tax sheltered.
- Option 2: Medical Expense Reimbursement allows employees to set aside up to $2,500 to pay for medical, dental, and vision expenses on a “before-tax” basis. The amount elected is deposited into a personal account and reimbursement is made from that account for expenses that are not covered by insurance.
- Option 3: Child Care Reimbursement allows employees who pay for child care to set aside up to $5,000 for the cost of that care on a "before-tax" basis. The dollars are deposited in an account and reimbursed upon request after the expense is incurred.
F. Retirement Program with TIAA-CREF
This program provides benefits eligible employees with the option to invest their retirement funds in TIAA-CREF. The College contributes 3% of basic annual salary. Regular employee contribution is 5% of annual salary. The total contributions (College and employee) are immediately vested. The waiting period is two years and attainment of age 21; participation is mandatory after 6 years and attainment of age 35.
Employees may enter into a tax-deferred annuity agreement with the College that is within the limits of Sections 403(b) and 415 of the Internal Revenue Code. Under this arrangement the employee may make contributions to TIAA-CREF on a before-tax basis, thereby lowering current taxable income. For more information regarding IRAs, SRAs, RAs, and Roth accounts or to access your account, contact TIAA-CREF. There is no waiting period to participate in a tax deferred annuity arrangement.
G. Social Security/Medicare Tax
College employees are covered by the Social Security/Medicare Tax. The employee contribution is matched by an equal contribution from the College. The base amount and the percentage rate are subject to revision by law annually.
H. Unemployment Compensation
The College pays unemployment compensation under certain circumstances regulated by state statutes. The entire cost of this program is paid by the College.
I. Worker's Compensation
The College carries workers' compensation on all employees. This insurance, the details of which are established by state laws, provides for reimbursement of medical expenses and lost earnings for employees who have a work related injury or illness. All work related accidents must be reported promptly to the supervisor by the employee on the proper reporting form. Supervisors must notify Human Resources as soon as possible of all work related injuries. The entire cost of this insurance is paid by the College.
Because prompt care may be essential to your maximum recovery, you may want to seek medical attention immediately at our provider, St. Mary's Occupational Health Clinic, locate on the west end of the parking lot of St. Mary's Hospital, 3375 N. Seminary Street - if evening or weekend at OSF St. Mary Medical Center emergency room.
J. Tuition Benefits
Eligible employees, retirees, and/or dependents may be able to take advantage of tuition benefits at Knox including tuition remission at Knox, ACM Tuition Exchange Program (TREP), Tuition Exchange (TE), or a $500 tuition assistance for classes taken at other colleges or universities. For a description of each, see the Tuition Benefit Programs Summary. There is a two year waiting period to be eligible for tuition benefits.
K. Employee Assistance Program
Employees and their family members may receive counseling for a wide range of personal problems, including marriage and family problems, alcoholism, drug abuse, financial problems, eating disorders, stress, depression, and anxiety. The EAP provides up to five hours of assessment and counseling with no cost to Knox employees. Services are completely confidential; no one at the College knows the identity of any employee who uses this program. Services are provided by Advanced Behavioral Health. For additional information or to make an appointment, phone (309) 342-6852.
L. Other Benefits
Show your College ID for free attendance at athletic events, plays, concerts, outside speakers and other special events. Use the Seymour library, the bookstore, Green Oaks in nearby Victoria (the 760 acre biological field station--please follow the rules found at the entrance), the fitness center and other athletic facilities.