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| VOLUNTARY PLANS | ||||
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| Benefit | Eligibility | Amount | Cost | |
| Faculty & Staff Retirement Plan (web site) |
A defined contribution 403(b) retirement plan that is funded by your voluntary contribution combined with a contribution from Duke | Faculty and staff paid monthly and scheduled to work at least 1,000 hours per year | For each plan year, contributions are subject to maximum dollar limit that is indexed periodically; Duke will make a contribution to this plan as long as you contribute at least 3% of your salary and have at least one year of service (some exclusions apply) | Based on your voluntary, tax-free contribution |
| Savings for Retirement Plan (web site) |
This 403(b) retirement plan is funded by your voluntary, pre-tax contributions. It can supplement the Employees' Retirement Plan, a Duke-provided pension plan | Staff paid biweekly and faculty or staff ineligible for the Faculty and Staff Retirement Plan | For each plan year, contributions are subject to maximum dollar limit that is indexed periodically | Based on your voluntary, tax-free contribution |
| Voluntary Disability (web site) | Replaces a portion of your income if you cannot work due to an accident or illness | Active full-time employees (some exclusions apply) | Replaces up to 60% of your base pay | Refer to the
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| Supplemental Life Insurance (web site) | Voluntary, employee-paid group term life insurance | Active employees, faculty members, or House staff working at least 20 hours/week | Up to 8 times your annual pay, up to $100,000 for your spouse/equivalent, and $10,000 for each dependent | Refer to the Rate Table |
| Personal Accident Insurance (web site) | Pays a benefit in the event of accidental death, dismemberment, or permanent total disability as the result of an accident | Active employees, faculty members, or House staff working at least 20 hours/week | $50,000 to $750,000 | For each $10,000 of coverage, the
premium is: Individual: $0.27/month Family Plan: $0.47/month |
| Universal Life Insurance (web site) | Voluntary universal life insurance | Active employee or faculty working at least 20 hours per week | Varies based on vendor | Varies based on vendor |
| Personal Casualty Insurance (Home, Auto, Renters, Excess Liability) (web site) | Protects you in the event of an accident or natural disaster that damages personal property that you own, or against personal liability in the case of property damage or personal injury to another person as a result of your actions | Active employees, faculty members, or House staff working at least 20 hours/week | Varies based on insurance selected | Varies based on insurance selected |
| Long Term Care Insurance (web site) | Group long term care insurance that covers expenses incurred in skilled and intermediate nursing homes as well as home health care and adult day care expenses | Active employees, faculty members, or House staff working at least 20 hours/week | Varies based on age, daily benefit, and contract length. | Refer to the Aetna web site |
| AUTOMATIC PLANS | ||||
| Benefit | Eligibility | Amount | Cost | |
| Employees' Retirement Plan (ERP) (web site) |
A pension plan designed to provide a guaranteed monthly income | Staff paid biweekly who are over age 21 and have completed one year of employment, working at least 1,000 hours | The benefits at retirement is based on a formula that includes years of service, average final pay, and your age at retirement | Duke pays entire cost |
| Duke Disability (web site) |
Provides you with income if you are unable to work due to a disability beyond a certain amount of time | Regular, full-time faculty member or employee working at least 30 hours/week with at least 3 years of consecutive full time service (some exclusions apply) | Replaces up to 60% of your base salary | Duke pays entire cost |
| Basic Life Insurance (web site) | Basic life and accidental death and dismemberment insurance | Active employees working at least 20 hours/week or active faculty members working 40 hours/week | $10,000, plus $10,000 accidental death and dismemberment | Duke pays entire cost |
| Business Travel & Accident Insurance (web site) | Provides a benefit in the event of your death or injury sustained while you're working and traveling outside your city of employment | Active employees or faculty members working at least 30 hours/week | Up to $200,000 in the event of death or total disability; $5,000 maximum amount for reasonable expenses incurred treating injuries | Duke pays entire cost |
| Survivor Benefit (web site) |
Benefit in the event of the death of an eligible employee | Employees working at least 30 hours/week, faculty working 40 hours/week (one year of service required) | One month's pay for each complete year of full time service up to a maximum of six months of pay | Duke pays entire cost |
| Insurance Certificate (for employees prior to December 1, 1974 only) (web site) | Basic life insurance | Only for employees of Duke University prior to December 1, 1974 | $2,500 | Duke pays entire cost |