Human Resources

Staff Policies and Procedures Manual

VII. Benefits

I. Life insurance

Reed College reserves the right to change, terminate or otherwise modify any or all provisions of the following benefits at any time and for any reason. This is a summary only; refer to the plan document for specific and complete information.

Life and Accidental Death and Dismemberment insurance:

Eligibility
Regular full-time employees and regular part-time employees who work .5 FTE or more annually. Coverage begins on the first of the month following eligible employment.

College contribution
The college pays the full premium for the plan.

The plan
This term insurance is provided in an amount two times the employee's annual salary (rounding applies) to a maximum of $300,000. The plan also provides accidental death and dismemberment (AD&D) coverage.

Benefit reduction
Life and AD&D benefits reduce to 65% at age 70 and 50% at age 75.

Voluntary Life insurance and Accidental Death and Dismemberment insurance:

Eligibility

Regular full-time employees and regular part-time employees who work .5 FTE or more annually. Employees may also include their spouse or domestic partner and dependent children under this plan. Coverage begins on the first of the month following eligible employment.

The plan

This a voluntary plan paid by the employee. Employees may select the amount of coverage they wish to purchase in $10,000 installments up to a $500,000 maximum. Dependent coverage can be purchased in increments of $2,000 from a minimum of $2,000 to a maximum of $10,000.

Benefit reduction

Supplemental Life benefits reduce to 65% at age 70 and 50% at age 75.

last revised: 2/13/2012

last reviewed: 2/13/2012

Back to site map

Go to complete printable manual