Life insurance rates effective Jan. 1, 2017



Eligible earnings do not include bonuses; honoraria or pay in lieu of private practice; general assistance "by-agreement" payments; compensation for extension teaching or summer session/other vacation period employment which is more than regular earnings; any pay received which is more than 100% of the full-time equivalent of the Covered Person's regular and normal position; perquisites; overtime pay; stipends for department chairs; shift differentials; or extra compensation.

Your supplemental life insurance premium payments for the year will be based on your full-time equivalent salary as of Jan. 1 of that year (or, if you are a newly-hired employee, as of your date of hire). A salary adjustment in the middle of the plan year will not impact your premium payments until Jan. 1 of the next year. For example, if your annual salary was $50,000 as of Jan. 1, 2016 but increased to $56,000 on July 1, 2016, your premium payments would be based on your annual salary of $50,000 throughout 2016. Beginning Jan. 1, 2017, your premium payments would be based on your annual salary of $56,000.