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Full-Time Employee Benefits Summary

(January 1, 2024–December 31, 2024)

Ìð¹ÏÊÓƵ provides a competitive benefit program designed to offer:

• Medical and dental insurance for preventive care or diagnostic and surgical procedures;
• The opportunity to save for financial security in retirement;
• Income protection in the event an employee is not actively at work, due to illness;
• Programs and services that assist in balancing work and personal life;
• Educational opportunities for the employee and eligible members of their family to pursue a degree at Pace or another higher education institution.

In addition, all faculty and staff can participate in our award-winning health and wellness program, Pace Yourself to Wellness, which is designed to inspire employees to engage in healthy habits while optimizing health care resources.

Medical Plans

Choice of 3 different plans accessing the Aetna Elect Choice Network or the Aetna Managed Choice Network. Choices include two in-network only plans (the Network Core plan and the Consumer Core HDHP/HSA plan) and one POS plan (the Choice plan), which offers in- and out-of-network coverage. Specialist referrals are not required and all plans offer pharmacy and vision benefits.

• $40 Medical Plan Waiver reimbursement, each semi-monthly pay period, if medical coverage is waived (due to other existing coverage) for the first time.

Dental Plans

• Choice of two plan options through Aetna Dental (Dental DMO and Dental PPO).
• University contributes up to 50% of the cost of individual coverage.

403b Defined Contribution Retirement Plan

• University contributes 9% of base salary with a 3% matching employee contribution (once age and years of service requirements have been satisfied).
• TIAA is the sole service provider.
• Immediate vesting with first contribution.

Health and Dependent Child Care Flexible Spending Accounts

You may elect to direct part of your before-tax pay into an account to use throughout the year to help pay for eligible expenses.

• Provides reimbursement from your account for eligible health care and dependent child care expenses on a pre-tax basis.
• Healthcare annual maximum is $3,200, Dependent Child Care annual maximum is $5,000 ($2,500 if both spouses contribute via separate employers).

Commuter Reimbursement Accounts

• You may elect to direct part of your before-tax pay into an account to use throughout the year to help pay for your eligible mass transit and parking expenses.
• Provides mass transit reimbursement from your account of up to $315/month ($157.50/paycheck) and parking reimbursement of up to $315 per month ($157.50/paycheck) on a pre-tax basis for 2024.

Leaves

• University provides paid (i.e. short-term disability) and unpaid leaves, once eligibility requirements have been satisfied, to assist in addressing work/life needs.

Life Insurance and AD&D

• University pays for basic coverage (1X salary to a maximum of $100,000).
• Employee has option to purchase additional voluntary coverage for self (1X, 2X or 3X salary up to $750,000 maximum including basic coverage) and for dependents (up to $10,000 for a spouse or $5,000 for eligible children).

Short-Term Disability (STD)

• University pays full cost of coverage.
• Full salary and benefits continuation after one year of continuous full-time service to a maximum of 26 weeks within a 52-week period.

Long-Term Disability (LTD)

• University pays full cost of coverage.
• Employee eligible to participate after one year of continuous full-time service.

Workers' Compensation

• University pays full premium.
• Salary and benefits continuation as defined above in Short-Term Disability (STD).

Long Term Care Insurance

• Voluntary benefit through UNUM Provident available to employees, their spouse/domestic partner, children, parents, and in-laws.
• Medical questionnaire for certain Long Term Care options is waived for employee only if he/she applies during the first 31 days as a full-time new hire.
• Medical questionnaire for certain Long Term Care options is waived for employee only if he/she applies during the first 31 days as a full-time new hire (unless he or she applies for an unlimited duration, then medical evidence is required).
• Portable upon separation from the University.

On-Campus Tuition Remission, Off-Campus Tuition Reimbursement, NY 529 College Savings Program

• Up to 100% on-campus remission for employee, spouse/domestic partner and dependent children under age 24 (24 to 30 receive 50%).
• Up to 50% on-campus remission for Special Programs: for example, Law School, eMBA, Masters in Finance for Professionals, and all doctoral programs (children from 24 to 30 receive 25%).
• On-campus tuition remission benefits for dependent children end at age 30.
• Employee off-campus tuition benefit for job related graduate programs not offered at Pace, maximum annual benefit is $1,000 for a public institution and $1,500 for a private institution, benefit has maximum duration of 3 years.
• Off-campus undergraduate tuition for dependents up to age 24, $300 per semester, $2,400 lifetime maximum per child.
• University participates in two Tuition Exchange Programs, Tuition Exchange, Inc. and Council of Independent Colleges (CIC). Years of service requirements must be satisfied prior to participation.
• Employee can voluntarily contribute to New York College Savings Program.

Vacation Days (Staff Only)

• Up to a maximum of 25 vacation days, per fiscal year, depending upon position level.

Holidays (Staff Only)

• Up to 16 paid holidays, including the break from Christmas Eve through New Year's Day.