Transcript Document

WELCOME
TO
FLORIDA ATLANTIC
UNIVERSITY
BENEFITS and RETIREMENT
Orientation
(561) 297-3073-Benefits
(561) 297-2061-Retirement
(561) 297-3077- Time Keeping
Fax: (561) 297-3915
7/22/2015
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EMPLOYEE BENEFITS
Leave Time

Annual Leave

SP (Support Personnel)
Up to 5 years – 4 hours bi-weekly
 5 to 10 years – 5 hours bi-weekly
 Over 10 years – 6 hours bi-weekly
 Can accrue to a maximum of 240 hours
 Must have supervisor’s approval to use
annual leave. (Approval obtained in
advance)
All hours over maximum will roll over to
sick leave after December 31st.
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7/22/2015
EMPLOYEE BENEFITS
Leave Time

Annual Leave

Faculty
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12 month – 6.7 hours bi-weekly
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

Can accrue to a maximum of 352 hours
9 month - No Annual Leave
AMP (Administrative, Managerial, Professional)
6.7 hours bi-weekly
 Can accrue to a maximum of 352 hours
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7/22/2015
All hours over maximum will roll over to
sick leave after December 31st.
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EMPLOYEE BENEFITS
Leave Time

Sick Leave

Support Personnel, Faculty, and AMP
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4 hours bi-weekly (13 days a year)
Sick leave can be used for immediate family
Annual leave can be used if sick leave Hrs.
has been depleted
Personal Leave

Support Personnel and AMP

Used during current fiscal year
Effective date of hire
 Use in one increment (8 hrs.)
 Must be Used between July 1st
through June 30th
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7/22/2015
Use it or lose it
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7/22/2015
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Full Time and Part Time employees are
eligible
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Minimum one year of service
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Minimum balance of 64 hours
Sick leave hours from the Pool shall be
granted only for the employee’s serious
or catastrophic personal illness or
injury.
Employees donate 16 hours and can apply
up to a maximum of 480 sick leave pool
hours once personal leave has been
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exhausted.
7/22/2015

PPO
 Blue cross & Blue
Shield of Florida

HMO’s
 AvMed
 Vista
 UnitedHealthCare
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Insurance Comparison
Biweekly Premium
Generic
 $10.00
Preferred
$25.00
 $25.00
 Family Coverage Non-Preferred
 $40.00
$90.00
Office visit
Cost will be different  $15.00
for part-time
 $25.00 specialist
employees

7/22/2015
30 day supply for
prescription
Individual
coverage
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HMO’s
 Covered in the area that
you live in or work in
Vista and AvMed have
providers in Dade /
Broward / Palm Beach
County
United Healthcare- has
providers in Dade /
Broward/ Palm Beach
County/ Martin County

No approval is needed
by PCP to see a
specialist
No deductible
No claims to file

Rx through Mail Order
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Emergency Room
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7/22/2015
$50,waived if admitted
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PPO- Blue Cross & Blue Shield
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World wide coverage (network
providers are also located world wide)
No referral is needed to see a
specialist
Co-insurance (based on percentage)
Calendar year deductible
Rx through Mail Order
Emergency Room
$50,waived if admitted
7/22/2015
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PPO network
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Deductible
Non-network
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$250/person
$500/family
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Network allowed
amount 80%
Hospital Stay $250
Ambulance 100% with
no deductible
Deductible
$750/person
$1500/family
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Network allowed
amount 60%
Hospital Stay $500
Ambulance 100% with
no deductible
Calendar Year out-of –pocket maximum
$2,500/person; $5,000/family
After your out-of –pocket costs reach the
maximums, plan pays 100% for covered care
in most cases, up to allowable costs
7/22/2015
PPO Lifetime maximum - $2,000,000
Traditional HMO’s- Unlimited
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The FAU Pharmacy is currently contracted with
CAREMARK-Florida Blue Cross/Blue Shield.
FAU Pharmacy also carries a wide variety of over-the –
counter products including: cough and cold medication, pain
relievers, hygiene products, bath and beauty aids, etc.
(Boca Campus Only)
7/22/2015
More plans are being added continuously as contracts are
approved.
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High Deductible Health
Plan- PPO
(Blue Cross & Blue Shield)
Biweekly Cost
Individual
Family Coverage
coverage Biweekly
Biweekly $32.15
$7.50
Covers care received
Annual deductible
Individual coverage
Family coverage
What you pay for care received after
deductible
Medical care
Prescription drug
ogeneric drug and preferred
brand
onon-preferred brand
Annual out-of-pocket maximum
Individual coverage
Family coverage
High Deductible Health
Plan - HMO
(AvMed, Vista)
non-network
in network only
In Network
$1,250
$2,250
Non-network
$2,500
$5,000
$1,250
$2,500
20%
40%
20%
30%
not covered
30%
50%
not covered
50%
$3,000
$6,000
$7,500
$15,000
$3,000
$6,000
after your out-of-pocket costs reach these maximums, plan pays 100% for
covered care in most cases, up to allowable costs
7/22/2015
Preventive care
same as current PPO, no deductible
required for some physical exams and
screenings
Same as traditional HMOs,12no
deductible required for some physical
exams and screenings
For someone participating in a HSA
(health savings account) for full year..
State Contributes
Employee can
add:
Individual
Coverage
up to $500/year
up to $750/year
tax-free
Family
Coverage
up to $1,000/year
up to $1,500/year
tax-free
Employees receive HSA debit card and convenience checks
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7/22/2015
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1. pay for expenses while meeting deductible
2. Pay coinsurance (based on percentage)
3. pay for other healthcare like dental and vision not
covered by FSA or other plans..
4. save for future healthcare costs next year or longer
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Limited Purpose Medical Reimbursement
Account (to be used in conjunction with HSA)

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7/22/2015
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You can use the LPMRA to cover
dental, vision and over-the-counter
medication costs considered tax
deductible by the IRS but not paid by
any health plan
Dental and vision
expenses
Orthodontia not
covered by a
dental plan
Over-the-counter
medications

You can set aside
as much as $5,000
in an account
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Flexible Spending
Accounts program
FSA allows you to set aside a portion of your income to pay for
health and dependent care expenses not covered by your
insurance.
Deduction amounts are taken from your gross pay before FICA
and Social Security taxes are calculated
Medical Reimbursement Account


Minimum amount $60
Maximum amount $5000
Dependent Care Reimbursement Account
Minimum amount $60
If you are married filing separately

Amount $2500
If you are single and head of household or married filing jointly

Maximum $5000

If your spouse is a full-time student or incapable of self-care, your maximum
annual deposit is $3000 a year for one dependent and $5000 a year for two or
more dependents.
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7/22/2015
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Reimbursements are processed within 7 days
Total claims must be $25.00 or more
Deadline for filing is April 15 of the following Year
You must use money by the end of the year or it will be forfeited.
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Eligible Health Care
Expenses
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7/22/2015
Acupuncture
Chiropractors
Contraceptives
Co-payments
Cancer screening
Deductibles
Dental fees
Eye exam &
glasses
Hearing aids
Insulin
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Immunizations
OTC medicine
Prescription drugs
Pediatrician
Transplants
Vaccines
Wheel chair
Drug addiction therapy
X-RAY fees
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Eligible Dependent Care
Expenses
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7/22/2015
Day care services
In-home care
Nursery
Pre school and after school care
Summer day camps
Baby-sitting fees
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Ineligible Health Care
Expenses
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7/22/2015
Toothpaste
Cosmetics and toiletries
Diaper service
Anti-baldness drugs
Health club dues
Weight loss programs
Dental whitening (bleaching)
Insurance premiums
Maternity clothes
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Ineligible Dependent Care
Expenses
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7/22/2015
Dues or membership fees
Child support payments
Fees for meals
Transportation fees
Books and supplies
Extra fees charged for late
payments
Fees paid for children over the age
of 13
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What Should I Know About My Options?
A High-Level Look at How the Plans Work
High Deductible PPO
High Deductible HMO
AvMed,Vista
State Employees’ PPO
Traditional HMOs
AvMed,Vista,
UnitedHealthcare
Choice of Providers
Network or NonNetwork
Network Only
Network or Non-Network
Network only
Lifetime maximum
$2,000,000/Person*
Unlimited
$2,000,000/person*
Unlimited
Health Savings
Account?
YES
YES
No
No
Reimbursement
Account?
Yes, Limited Purpose Medical Reimbursement
Account
$5000 PER YEAR
Monthly Cost
Individual $15.00
Family $64.30
Prescription drugs
Annual deductible


Individual
coverage
Family
coverage
Annual out-of-pocket
maximum
after any
deductible

Individual
coverage

Family
coverage
How you pay for
most care
Yes, Medical Reimbursement
Account $5000 PER
YEAR
Yes, Medical
Reimbursement
Account
$5000 PER YEAR
Individual $50.00
Family $180.00
30%-50%
of Cost
Not Covered
30%-50%
of Cost
Network
Non-Network
Network
$1,250
$2,500
$1,250
$2,500
$5,000
$2,500
$3,000
$7,500
$3,000
$2,500
$1,500
$6,000
$15,000
$6,000
$5,000
$3,000
Percentage of
cast after
deductible
Network – set co-payments
Nom-network – percentage of
cost after deductible
Set co- payments
Percentage of cost after deductible
7/22/2015
Set amount
Network
Set amount
Non-Network
Network
$250
$750
$0
$0
$500
$1,500
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With family coverage, you must meet family
deductible before anything but preventive
care is covered

Pre-existing conditions will be covered if
you have a certificate of creditable
coverage for 12 months under the PPO
plan. (Pre-existing conditions are covered under
traditional HMO’s)

Employees and dependents are
covered at 100% for preventative care
benefits under the PPO and HMO plans.
-physical exams including lab work
-routine eye test
-hearing tests
-PSA test for males 50 and over
7/22/2015
Other preventative benefits are listed in the PPO and21
HMO benefits guide
All dependents from age 19 through the
end of the calendar year in which the
child turns 25 must meet both of the
following criteria to continue coverage.
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7/22/2015
Must be dependent upon the
employee for support, and
Must either live with the employee or be
a full-time or part-time student
Copies of birth & marriage certificates
are needed for all dependents should
be sent directly to PeopleFirst.
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Spouse Program – When both spouses are full
–time active State Employees, there is no cost
for health insurance coverage.
Employees may not change their benefits
elections during the course of a plan year
unless they experience a qualifying status
change (QSC) event.
7/22/2015
Examples: marriage or divorce / Death of a
spouse or dependent / Birth, adoption, or legal
guardianship / change from part time to full
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time or vice-versa.


TRICARE is a Federal health
insurance program for the military
community at no cost.
To verify your eligibility for
TRICARE benefits, contact the
Defense Enrollment Eligibility
Reporting Systems (DEERS) at
the following toll free number:
1-800-638-2610 or visit their Web
site at http://www.tricare.osd.mil/
7/22/2015
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
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
7/22/2015
View your benefits
through an Online
secure website at
https://peoplefirst.myfl
orida.com
People First Service
call Center
(1-866-663-4735)
Fax number for
People First Service
Center is
(904) 828-6092
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


7/22/2015
Checks are payable to: Florida
Atlantic University.
Please include your requested
effective date (month and year)
on the check.
All enrollment forms should be
sent to Personnel Services
Department Administration
Building, room 107.
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

7/22/2015
Basic Life Insurance coverage is 1.5
times base annual earnings (pre-tax)
Optional Life Insurance –
Employees may add additional term
life insurance by selecting 1 to 5
times their annual salary (post tax)
Basic and Optional life insurances will
terminate when you terminate
employment
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



Cigna
Denticare
Oral Health Services
American Dental Plan
Premiums are listed on
the enrollment form
Cost will depend on the
coverage selected
7/22/2015
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Prepaid
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7/22/2015
Each member chooses a dentist from a
list of providers
Many no charge benefits available
No claims to file
No deductibles
Expenses for preventative and
restorative care vary by company
American dental and Denticare also
include vision discounts
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
Indemnity / DPPO

May may select any dentist
More out of pocket expense
Coinsurance, deductibles and
maximum annual benefits
Coverage and cost vary by company
Employees will pay out of pocket for
services and then submit a claim form
for reimbursement

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7/22/2015
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Bi-Weekly rate:
Employee only
$3.48
Employee + Family
$8.94
7/22/2015
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7/22/2015
$10 co-pay for Vision
Exam (once a year)
$15 co-pay for Lenses
Frames- every 2 yrs
$150 allowance
Contact lenses - $100
allowance
LASIK- 15% discount
or pay no more
than$1,800 per eye for
the procedure
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Supplemental Insurance
Plans pay you cash for out of pocket expenses

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

7/22/2015
AFLAC – cancer, hospital and intensive care insurance
Capital Insurance – hospital insurance and vision
discount program
Gabor Agency – Long Term disability coverage
(30 or 90 day waiting period)
long term care, hospital, group term life insurance
Detail information about each plan is provided
through a brochure
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Wachovia Insurance Services
Automobile Insurance


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Private passenger automobile insurance
Antique or classic car insurance
Recreational vehicles, Motorcycles
Other Personal Insurance



Valuable items special coverage for furs, jewelry,
antiques, collectibles, etc.
boats, yachts, watercraft
Flood Insurance
Homeowners insurance is only available in
certain parts of Palm Beach county
Enroll any time during the Year!
7/22/2015
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PREFERRED LEGAL PLAN
7/22/2015
Biweekly Cost $4.97
 Unlimited free legal advice via phone
 Free review of legal documents
 Free face-to-face initial consultations
 Free letters and phone calls made on
your behalf
 Free credit report analysis and repair
 Free simple wills for member & spouse
 Free notary services
 40% - 70% reduced off legal fees and
services
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Credit Unions
Palm Beach County Broward County
accounts can be
open at any time
7/22/2015
competitive rates on
home, personal and
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auto loans
BENEFITS
US Saving Bonds - $50~$10k
National Bond & Trust
 EAP – Employee Assistance Program
Counseling Service Institute
3 free sessions with a private counselor
Finances
Legal
Marital abuse
Alcoholism
Drug abuse
Eating Disorders
Family counseling Addictions
Emergency Line 800 492-0253

7/22/2015
37
BENEFITS

Employee Educational Scholarship
Program (EESP)

To Qualify:
Full –time employee
6 months of employment
undergraduate - C grade
Graduate - B grade



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Employees are allowed to take up to 6 credit hours per
semester.
7/22/2015
38
7/22/2015

Print all forms needed for changes or enrollment

Have direct link to all insurance websites and
vendor numbers

Receive discount information on Tri-Rail, Universal
Studios, Busch Gardens and other theme parks in
Florida

View Employee Handbook and commonly asked
questions

Print Employee Educational Scholarship Program
form

Use our Benefits Calculator

Log on to:http://personnel.fau.edu/benefits/
39
7/22/2015
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Florida Retirement System

State sponsored retirement plan
All retirement contributions are paid by the
State of Florida
Pension Plan
Investment Plan

Eligible Employees:

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

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7/22/2015
All faculty
AMP employees
SP employees
SP employees are automatically
enrolled in the FRS when employed
by the University.
41
Florida Retirement System


FRS Pension Plan
Must have 6 years of creditable services in order to
receive retirement benefit
Normal retirement is considered to be age 62 with 6 years
of service or 30 years of service, regardless of age.
For Special Risk members, normal retirement is
considered to be age 55 with 6 years of service or 25
years of service, regardless of age.



7/22/2015
Retirement benefit is based on your earnings, length of
service, and membership class, and is adjusted by a 3%
cost-of-living each July.
Subsidy for Health insurance( $5 for every year worked)
Eligible for DROP (deferred retirement option program)
DROP was implemented on July 1, 1998, It is a program
that allows employees to retire without terminating
employment for up to 5 years. Employees retirement
benefits accumulate and earn interest compounded
monthly at an effective guaranteed annual rate of 6.5%.
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Florida Retirement System
FRS Investment Plan
 You must be vested (with 1 year of FRS creditable service) in
order to receive retirement benefit. (9% contribution)

There aren't any age or service requirements for you to receive
a benefit, once you've become vested. You should consult a tax
specialist to get an explanation of the tax implications of early
retirement

Health Insurance Subsidy is available only after you attain six
years of FRS service credit and you reach normal retirement
eligibility
Not eligible for DROP participation

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If you're vested when you leave FRS-covered employment
and go to work for a non-FRS employer, you can:



7/22/2015
Leave your account in the Investment Plan, where it will remain
invested until you withdraw it;
Roll your account over to an Individual Retirement Account (IRA) or
to the plan of your new employer, if that plan accepts rollovers; or
Have your account paid to you. You'll have to pay taxes on this
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amount in the year during which it's paid to you.
Florida Retirement System



7/22/2015
You have a one-time opportunity after your
Choice period ends, or you make your plan
election, if earlier, to switch from the
Investment Plan to the Pension Plan, or
from the Pension Plan to the Investment
Plan.
You will have to "buy-back" cost to convert
plans
For more information log on to:
www.myfrs.com. or call 866 446-9377
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ORP-Optional Retirement
Program



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Only AMP and Faculty are eligible for ORP.
The ORP is a defined contribution plan that
provides full and immediate vesting of all
contributions.
FAU contributes 10.42% and employees
can match that amount.
Maximum amounts employees can
contribute for the year.
- $15,000
- Over 50 years of age $20,000

7/22/2015
After the first 90 days if no choice is
made, employees are automatically
enrolled in the FRS pension plan.
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Tax Sheltered
Accounts (TSA)
TSA is a savings plan which
allows you to invest a chosen
dollar amount as a pre- tax
deduction.
Contribution amounts can
be changed or stopped at
any time.
7/22/2015
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TSA Companies
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7/22/2015
AIG/VALIC
Fidelity Investments
Jefferson National
ING
MetLife Resources
MetLife/Valic
SYMETRA/SunLife/TransAmerica Life
T. Rowe Price Ins.
TIAA-CREF
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Department of Personnel Services
Florida Atlantic University
777 Glades Road
Boca Raton, FL 33431
Phone: (561) 297-3073-Benefits
(561) 297-2061-Retirement
Fax: (561) 297-3915
7/22/2015
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