for the next hour we will discuss: –core values –human resources forms –health benefits...
TRANSCRIPT
• For the next hour we will discuss:– Core Values– Human Resources
Forms– Health Benefits– Retirement Benefits– Tuition Remission
Benefits– Answer Questions
Welcome to UMUC
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 ValuesThe 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.
• STUDENTS FIRSTThese are the people who make our work possible.
• ACCOUNTABILITYWe are each responsible for our overall success.
• DIVERSITYEach individual brings value to our efforts and results.
• INTEGRITYOur principles and standards are never compromised.
• EXCELLENCEOutstanding quality is the hallmark of our work.
• INNOVATIONWe advance so others can benefit from our leadership.
• RESPECTThe 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
• MD Substance Abuse Policy
• 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 ORPType 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 AreDetermined
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 Statecontributions, income, expenses and investment gains and losses.
Contributions You must contribute 7% of your salary. Employer contributes 7.25% of your salary.
InvestmentManagement
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 investyour account among your vendor’s investment options. You bear all investment risk.
Vested RetirementAllowance
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 vestedin your total account balance. Benefits may begin upon separation from employment. Afederal 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
• 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???