Employee Benefits

RFMH offers a benefit package designed to help protect employees and their families against financial loss due to illness, injury, or death, and to help employees plan for retirement. Consult the Personnel Office regarding availability and conditions of the different benefit plans.

For more information, contact Kathy Antonelli kantonel@rf.cpmc.columbia.edu.

Links to Specific Health and Dental Insurance Providers

Dental Coverage
A dental benefit plan is available after six (6) months of service to employees working fifty percent (50%) or more of a full time schedule, and their dependents. The entire cost of dental coverage is paid for by the Foundation. Please check with the Personnel Office for information regarding coverage and participation.

Disability
SHORT TERM DISABILITY:    If you are disabled for more than seven days, because of a non-work related illness or injury, you may be eligible to receive partial replacement of lost wages. The disability must be verified by a physician and the paperwork filed in a timely manner. The Research Foundation pays the full cost for your coverage and waives the right to have you share in the expense, as is allowed by law.

While you are out on a disability leave, it is your responsibility to make arrangements with the Personnel/Payroll Office to continue making your share of the health insurance premium payment. The Foundation will maintain the employer's share of the health insurance coverage for a period of up to twenty-six (26) weeks. At the end of that time you will be given the opportunity to continue your health insurance coverage under the COBRA regulations.

LONG TERM DISABILITY:     After twelve (12) months of continuous employment, employees who work eighty percent (80%) or more of a full time schedule will be covered by our Long Term Disability Plan which provides partial replacement income in case you are disabled longer than six months. The full cost of the premium is paid by the Foundation. Further details regarding this Plan can be found in the description booklet which is available through the Personnel Office.

Flexible Benefits Plan: Dependent Care Program
All employees who have a regular work schedule of not less than fifty percent (50%) of full time are eligible to set aside pre-tax dollars for qualifying dependent care expenses. If you choose to participate, you must elect an amount of money to be set aside. The amount you elect to have deducted from your paycheck may not be greater than your annual earned income or $5000.

When dependent care expenses are incurred, you must submit a reimbursement voucher, with an itemized receipt from your dependent care provider, to the administrator of our plan.

For further information, contact the Business Office

Health Insurance
The Foundation sponsors several different health insurance policies, all of which include coverage for prescription drugs, to insure you and your family against the costs that could result from sickness or injury.

Employees (except temporary employees) who work at least fifty percent (50%) of a full time schedule are eligible to enroll in the health insurance plans for themselves and their families.

You will be given information on the plans available during your orientation meeting.

The Research Foundation pays most of the cost of individual and family coverage. The remaining portion of the health insurance premium will be deducted from your paycheck.

Double health insurance premium deductions will be withheld for the first 2 pay periods of health insurance coverage. This is due to the fact that health insurance coverage will continue upon separation from service for 15-45 days, depending on the termination date.

PRE-TAX CONTRIBUTION POLICY (PTCP):    All employees participating in the Foundation's health insurance plan are automatically participants in the PTCP. Under this policy, you will have your share of your health insurance premium deducted from your gross wages before taxes are withheld. In most cases, this will lower your taxes.

Although the Foundation believes that participation in PTCP is in the best interest of its eligible employees, you may elect to waive your participation. For further information regarding PTCP or the waiver, contact the Business Office.

CONTINUATION OF COVERAGE:    Federal law requires that most employers sponsoring group health plans offer employees and their families the opportunity for a temporary extension of health coverage (called "continuation coverage") at group rates in certain instances where coverage under the plan would otherwise end.

At the time you enroll in the plan and when coverage would normally cease, the Research Foundation will provide additional information regarding continuation coverage. At any time you would like additional information regarding COBRA regulations, please direct your questions to the Personnel Office.

Life Insurance
The Foundation provides eligible employees with fully paid life insurance equal to one (1) year's base salary, at no cost to the employee. Eligible employees are those who work eighty percent (80%) or more of a full time schedule and who have completed at least twelve (12) months of service. This is in addition to death benefits provided under the retirement plan.

Retirement
Our outstanding and generous retirement program helps you to build a future of increasing security for yourself and your family. Under the program, the Foundation purchases annuities which provide retirement and death benefits for eligible employees. There is no cost to the employee. Annuities are purchased from Teachers Insurance and Annuity Association/College Retirement Equities Fund (TIAA/CREF) in an amount equal to ten percent (10%) of the employee's salary. Most significantly, should you leave the Foundation, the vested annuity goes with you. It is your property. This attractive benefit is designed to recognize the nature of careers in health research which often require personnel to change employers when a particular project ends.

Please refer to the Retirement Annuity Summary Plan Description included in your employment packet for detailed information, including eligibility criteria.

Savings Plans
TAX SHELTERED ANNUITY:    Recognizing the impact of taxes on your salary and aware of your need to plan for the future, the Foundation provides employees with the opportunity to contribute a percentage of their biweekly salary to a Tax Sheltered Annuity program. These deferred earnings are not taxed until withdrawn by the employee. However, there may be limitations and possible penalties on premature withdrawal. RFMH Personnel/payroll offices have enrollment packets and information.

CREDIT UNION & U.S. SAVINGS BOND DEDUCTION:    The Foundation has a Credit Union and U.S. Savings Bond Deduction Program. Your local Foundation Business Office has payroll deduction authorization forms if you would like to participate in these programs.

Tuition Assistance

UPDATED!!

The Foundation understands how important continuing education is to your career. Thus, it reimburses eligible employees seventy-five percent (75%) of the cost of tuition and fees for relevant* college education (undergraduate or graduate), up to a maximum of $5,250--and a maximum of eighteen (18) credit hours--per school year, per employee. If you are interested, you should ask for a copy of the detailed Tuition Assistance Plan for eligibility and selection criteria. An employee who receives benefits under this program should consult a tax advisor to determine if benefits are taxable. There is a limited amount of funds for this program; interested employees should contact the Foundation Benefits Office as early as possible.

A copy of the tuition receipt and the employee's final grade must be submitted with a request for reimbursement. Reimbursement will be made only if the individual is still employed by the Foundation at the time the course is completed.

Workers' Compensation
You are protected by the Workers' Compensation Act of New York. If you suffer a work related injury or illness, you are eligible to receive income replacement as well as payment for doctor and hospital costs incurred as a result. The Research Foundation pays the full premium for this coverage as part of our employee benefits program.

While you are out on a workers compensation leave it is your responsibility to make arrangements with the Personnel/Payroll Office to continue making your share of the health insurance premium payment. The Foundation will maintain the employer's portion of your health insurance coverage for a period up to twenty-six (26) weeks. At the end of that time you will be given the opportunity to continue your health insurance coverage under the COBRA regulations.

Business Meeting Expenses    Payroll Information

Travel Policy    Vacation and Leave    2008 Holidays

*please consult with the Foundation Benefits Office to determine relevance of courses