Long term disability insurance is provided to all eligible employees on a contributory or non-contributory basis.  After one-hundred-eighty days of continued disability, employees under age sixty are eligible to receive sixty percent of his/her base monthly salary to a maximum benefit currently of $4,000 per month if the university is paying (or $6,000 per month if the employee is paying and is eligible.) until age sixty five.  Employee age sixty-five and over are eligible for this benefit through age seventy on a prorated basis.  Offsets such as social security disability and/or worker compensation are factored into the monthly calculation.  If the University pays the premium, any benefit is taxable to the employee.  If the employee is paying, the benefit is non-taxable.

If a disabled employee, under age 60, is an active participant in the 403(b) defined contribution retirement plan and is receiving a University matching contribution, the LTD carrier will contribute 12% of the employee’s base annual salary into the annuity plan while the employee is receiving LTD benefits, up to age 65.  At age 65, when the LTD ceases, the employee may begin to receive annuity payments if he/she elects to do so.