Onboarding - Benefits Enrollment
Loyola offers a robust benefits program, though available benefits vary based on your employee type. Choose the appropriate guide below to familiarize yourself with the benefits available to you based on your role:
- Full-time Faculty Benefits Overview
- Full-time Staff Benefits Overview
- Part-time Staff Benefits Overview
Learning more about Loyola, included available benefits, will help you as you begin your new role. Remember that you have 31 days from your date of hire to enroll in your benefits and coverage will be effective on the first day of the month following your date of hire (or on the actual date of hire, if hired on the first of the month). To get started, we encourage you to review the following information:
- *ALEX - Your online Personalized Benefits Counselor ALEX will help find the best benefit plans for you and your family.
- Enrollment Guide - Employee Self-Service - Learn about how to enroll in your benefits online.
Need personal assistance? Contact a Benefits Specialist at email@example.com or 312-915-6175.
*ALEX does not determine benefits eligibility or process your benefits enrollment.
Check out the 2019 Benefits Booklet to learn detailed information regarding benefits offered at Loyola.
In October, Human Resources published the 2019 Benefits Highlights Booklet to announce annual Benefits Open Enrollment and share important benefit information for the upcoming year.
Loyola University Chicago offers you three medical plan options through Blue Cross Blue Shield, and prescription drug coverage through CVS Caremark. You have a choice of dental coverage through the Delta Dental PPO, as well as Guardian/First Commonwealth DMO (in Chicagoland/Northwest Indiana only). Loyola also offers vision plan coverage through VSP.
- After 60 days of employment, benefit-eligible employees hired before September 1, 2018 will receive University contributions of 5% of their salary each pay period to the DCRP. Employees can also receive additional matching contributions (up to a maximum of 5% of salary) each pay period from the University.
- Employees hired on or after September 1, 2018 will become eligible for University contributions on their first work anniversary.
- Employees hired before September 1, 2018 are immediately vested in the University’s contributions. Employees hired on or after September 1, 2018 will be 50% vested in any contributions from the University between the first and second anniversary of employment with Loyola. Employees will then become 100% vested in these contributions at the completion of their second work anniversary.
- LEARN MORE ABOUT THE PLAN HERE
- Contact the Retirement Call Center at 773-508-2770 or by visiting the Transamerica Scheduler website to schedule a meeting with a retirement planning consultant to learn more about financial literacy steps you should consider taking to build a healthy retirement portfolio.
- To review and manage your retirement account online please visit Loyola's Transamerica site at luc.trsretire.com.
- The Flexible Spending Account (FSA) for health care and/or dependent day care expenses, used properly, can help save you money on these expenses. By participating in either or both of these flex accounts you can use tax-free dollars deducted from your paychecks to pay for certain out-of-pocket expenses.
- The dollars you save are from the following payroll taxes: Federal income tax; State income tax (in most cases); and Social Security (FICA) tax.
- If you do not enroll in PPO 3, you can contribute to the Health Care Flexible Spending Account (FSA); the 2019 limit is $2,700.
- The Dependent Care Flexible Spending Account (FSA) is designed to pay for the care of children or adults who qualify so that you can work.
- Eligible expenses include: In-home care; Care at another’s home; Nursery or preschool tuition; After-school care; Dependent care centers; and Summer day camp as long as that cost compares reasonably with other alternatives.
- The Limited Flexible Spending Account (LFSA) may be put toward eligible dental and vision expenses only; the 2019 limit is $2,700.
The Health Savings Account (HSA) is open to benefit-eligible faculty and staff who are enrolled in PPO 3 HSA plan and not enrolled in Medicare. HSAs work a bit differently than FSAs. By participating in an HSA, tax-free dollars deducted from your paycheck can be used to pay for out-of-pocket medical, dental and vision expenses in the current year, or save them for the future. You can even invest your account--any earnings are also tax-free.
- In 2019, employees with employee-only PPO 3 coverage can contribute up to $3,500 (less Loyola's contribution) in an HSA.
- Employees who cover themselves and at least one other dependent in PPO 3 in 2019 can contribute up to $7,000 (less Loyola's contribution).
- Check out the Wellness Program for additional details!
- Review the paid time off policies for vacation, sick, personal, and holiday time here.
Loyola provides basic life insurance to you equal to 1.5 times your annual salary, up to $500,000. You can choose to purchase supplemental life insurance and/or AD&D coverage for you and your dependent(s). In case of the unexpected, Loyola also offers additional accident and critical insurance coverage.
- Learn more about this great benefit, including requirements and covered courses per academic term here.
- Text messages to cell phones
- Voice messages to land lines and cell phones
- Written messages to personal e-mail accounts
- Learn more: https://www.luc.edu/safety/alert/