Transcript About University of Maryland University College

Welcome to UMUC
• For the next hour we
will discuss:
– Core Values
– Human Resources
Forms
– Health Benefits
– Retirement Benefits
– Tuition Remission
Benefits
– Answer Questions
But First… Let’s Get to Know Each Other!
• Tell us your name
• What department
you will be working
in
• One fun fact about
yourself
Our Core Values
The Core Values reflect UMUC’s central and enduring tenets—a set of
principles to guide institutional and individual professional behaviors. At
UMUC, the way we do things is as important as the things we do.
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STUDENTS FIRST
These are the people who make our work possible.
ACCOUNTABILITY
We are each responsible for our overall success.
DIVERSITY
Each individual brings value to our efforts and results.
INTEGRITY
Our principles and standards are never compromised.
EXCELLENCE
Outstanding quality is the hallmark of our work.
INNOVATION
We advance so others can benefit from our leadership.
RESPECT
The rights and feelings of others are always considered.
Human Resources Forms
•
New Hire Letter
•
Accounting of Service Time
•
Employee Eligibility Verification and Authorization
Form (I-9)
•
W-4 Form
•
Direct Deposit Form
•
UMUC Confidentiality of Institutional Data Agreement
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MD Substance Abuse Policy
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UMUC Policy of Computer Use
•
E-Mail Guidelines Policy
•
Personal Information Form
Timesheet and Holiday Schedule
• FY 2012 Payroll Schedule
• 2012 Holiday Schedule
Health Benefits
• You have 60 days from your hire date to enroll in health
benefits
• You are eligible as of your first day
• Retro-active adjustments
• Regular Status Employees & 12 Month Faculty
• Bi-weekly payroll deductions
• Effective date either the 1st or 16th of the month
• Contingent II Status Employees
• Pay directly to DBM (no payroll deductions)
• Pay full cost of health benefit
• Receive stipend for health benefits
Retirement Benefits
•MD State Pension System
•Optional Retirement Plan (ORP)
•Supplemental Retirement Annuity (SRA)
State Retirement Plan vs. Optional Retirement Plan
State
ORP
Type of
Program
Defined benefit plan provides a
determinable benefit based upon your salary
and service.
Defined contribution plan provides a benefit based
upon your accumulated account balance.
How Benefits
Are
Determined
Benefits are calculated using a specific
formula that takes into consideration a fixed
percentage of your years of creditable
service and average final compensation.
Benefits are based on your ORP account
accumulation, which consists of State
contributions, income, expenses and investment gains
and losses.
Contributions
You must contribute 7% of your salary.
Employer contributes 7.25% of your salary.
Investment
Management
The SRPS assets are invested by professional
investment managers chosen by the SRPS
Board of Trustees. You do not bear any
investment risk.
You choose one of the investment vendors when you
join the plan. You may invest
your account among your vendor’s investment
options. You bear all investment risk.
Vested
Retirement
Allowance
You are fully vested after completing 10
years of eligibility service. Benefit payment
may commence at age 65 or reduced
payments may commence as early as age 60
with 15 years eligibility service.
You are immediately fully vested
in your total account balance. Benefits may begin
upon separation from employment. A
federal penalty tax may apply.
Portability
SRPS benefits are transferable among certain
governmental plans within the State of
Maryland.
ORP accounts may be transferable to a broader array
of other employers’ retirement programs.
Supplemental Retirement Annuity (SRA) Plans
• Employee contributes specified dollar amount per pay period
• May enroll at any time
• Enrollment package is separate from Optional Retirement Plan
• Employee manages how funds are invested
• Vendors are
• TIAA-CREF www.enroll.tiaa-cref.org/usmd
• Fidelity Investments www.mysavingsatwork.com/atwork/umd
• Maryland Supplemental Retirement Plans
www.msrp.state.md.us
Tuition Remission Benefits
• Eligible for up to 8 credits per
semester (Spring, Summer, & Fall)
• Regular Status Employees may attend
any of the USM Institutions
• Contingent II Employees will receive
tuition remission only at UMUC or
UMCP
• UMUC Spouse/Dependent
Scholarship
List of Eligible Institutions
• University of MD College Park
• University of MD Baltimore
• University of MD Baltimore
County
• University of MD University
College
• University of Baltimore
• University of MD Eastern Shore
• Baltimore City Community
College
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St. Mary’s College
Coppin State University
Bowie State University
Frostburg University
Salisbury University
Morgan State
University
• Towson University
How To Contact Us
Benefits via email:
[email protected]; [email protected];
[email protected]
Office of Human Resources via phone:
Phone (301) 985-7990
Fax (301) 985-7951
Hard copy, inter-office mail:
Human Resources, Adelphi
Questions???