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Financial Security Benefits Plan Comparison

VOLUNTARY PLANS
  Benefit Eligibility Amount Cost
Faculty & Staff Retirement Plan for Exempt Staff" For faculty and staff paid monthly, it is a defined contribution 403(b) retirement plan that is funded by your voluntary contribution combined with a contribution from Duke You must be a Duke employee who is not FICA exempt. For additional details regarding eligibility, please refer to the summary plan description. For each plan year, contributions are subject to a maximum dollar limit that is indexed periodically.  Generally, Duke will make a contribution to this plan as long as you are a monthly paid employee and have at least one year of service (some exclusions apply) Based on your voluntary pre-tax contribution, Roth 403(b) after-tax contribution, or a combination of both.
Faculty & Staff Retirement Plan for Non-Exempt Staff For biweekly paid employees, 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 You must be a Duke employee who is not FICA exempt. For additional details regarding eligibility, please refer to the summary plan description. For each plan year, contributions are subject to maximum dollar limit that is indexed periodically Based on your voluntary pre-tax contribution, Roth 403(b) after-tax contribution, or a combination of both.
Voluntary Disability 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 Rate Table
Supplemental Life Insurance 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 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
Personal Casualty Insurance (Home, Auto, Renters, Excess Liability) 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 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 Prudential web site
AUTOMATIC PLANS
  Benefit Eligibility Amount Cost
Employees' Retirement Plan (ERP) 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 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 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 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 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) Basic life insurance Only for employees of Duke University prior to December 1, 1974 $2,500 Duke pays entire cost

Benefits