Board of Visitors minutes January 27, 1989 | ||
TIAA DISABILITY PROGRAM
The University offers its faculty a long term disability plan that provides, in the event of disability, salary continuation of 60% of an individual's salary up to a maximum of $3,000 per month. The Faculty Benefits Committee recommends that the percentage of salary be increased from 60% to 66-2/3% and the monthly cap be raised from $3,000 to $6,000. This program enhancement will be more reflective of the salary structure at the University and will ensure income continuation at a reasonable level for disabled faculty. The increased premium cost is approximately $.30 per $100 of benefits which is an increase of $4,200 per month of additional premium. We concur with the Committee's proposal and recommend the changes become effective January 1, 1989.
Board of Visitors minutes January 27, 1989 | ||