Oxford, Ohio 45056
(513) 529-1950 fax
Changes in deductions and pay to take effect in January
Miami faculty and staff who are benefit-eligible are reminded that they will see changes in deductions and pay in 2004.
The changes reflect:
• The implementation of health care contributions from benefit-eligible employees.
• A permanent $100 pay increase for benefit-eligible employees.
The changes, adopted in December 2002, respond to a directive from the board of trustees that Miami shift some of the estimated $18 million a year it spends on health care benefits to employees.
Effective Jan. 1, 2004, benefit eligible employees will pay a premium for health care coverage based on salary and the type of plan chosen during October’s open enrollment (choices are single, family, employee plus spouse, employee plus children).
For example, employees earning less than $20,000 a year will pay from $2.36 a month (single coverage) to $6.61 a month (family coverage). Employees earning $100,000 a year or more will pay from $25.97 a month (single coverage) to $72.73 (family coverage).
The $100 one-time increase in base pay is meant to help offset the increased health insurance costs for current employees least able to afford premium contributions. It will totally offset the premium cost for any employee earning $20,000 or less and will also completely offset the contribution for employees who choose single coverage and earn up to $40,000 a year.
As a result of the $100 pay increase, all benefit-eligible classified employees will receive a 5 cents an hour increase to their base hourly rate. The increase will go into effect with the pay period that begins Dec. 20 and will show up on pay issued Jan. 9.
All benefit-eligible faculty and unclassified staff will receive a $100 increase to their salary. Payment will be spread out over 12 months with the increase (about $8.33 per month) reflected on pay issued at the end of January.
Questions about deductions? Call benefit services at 9-4223.
Date Published: 12/11/2003