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2	How to Navigate Through This Presentation Click on the symbol to move from one slide to the next. Click on the words “click here” for more information about a specific subject. Press the Backspace key to go back to previous slides. Click on words that are underlined for more information on a specific subject. Click on the symbol to go back to the previous slide. You must have Internet Access and Acrobat Reader to view the entire presentation and it’s attachments.
3	"Click here for the Full..." Click here for the Full Benefits Presentation Click here for Health Insurance Presentation Click here for Retirement Presentation Click here for Supplemental Benefits Presentation
4	Basic Medical Information You may enroll in a health insurance plan within the first 30 days of your hire date.
5	What are my Healthcare Options?
6	For a Health Plan Benefit Comparison, click here:
7	Office of Group Benefits EPO Plan No Deductible within EPO Network for regular office visits $300 Deductible applies to ancillary services rendered at regular office visits Co-payments: $15 office visit, $25 specialist visit An additional $300 deductible applies for out-of-network services; 70% coverage after deductible has been met. No Primary Care Physician or referrals required United Healthcare Network of Physicians Prescription Drugs – You pay 50% of the cost of the drug up to a $50 maximum $200 limit on Wellness visits for adults; no dollar limit for children. A deductible must be met before Child Immunizations are paid. Utilizes United Behavioral Health Network for Substance Abuse/ Mental Health services Monthly Premiums Once eligible expenses reach $10,000, employee is covered at 100%. Each person covered must meet maximum for themselves.
8	Humana/Ochsner Health Plan Health Maintenance Organization (HMO) No Deductible for regular office visits Out-of-network benefits covered at 70% after $1000 deductible is met Co-payments: $15 routine office visits; $25 for specialist visits No referrals required for network visits to specialists. Louisiana Service Area Network Providers Prescription Drugs – Closed Formulary; you pay 50% of the cost of the drug up a $50 maximum. No dollar cap on Wellness Benefits No Lifetime Benefit Maximum Monthly Premiums A $200 Deductible applies to Mental Health / Substance Abuse Services
9	Group Benefits PPO Indemnity plan: $500 Deductible per person to meet before benefits are paid up to $1,500 per family; no co-payments for office visits In-Network Benefits covered at 90% for first $10,000 of eligible expenses and 100% thereafter. Out-Of-Network Benefits covered at 70% for first $10,000 of eligible expenses and 100% thereafter. Your network is determined by your address Provider Network Wellness Benefits with $200 limit for adults and no dollar limit for children. Once limit is exceeded, additional wellness visit costs are out of employee’s pocket. Prescription Drugs – you pay 50% of cost of drug up to $50 maximum Utilizes the United Behavioral Health Network for Mental Health/ Substance Abuse services Monthly Premiums
10	FARA MCO Plan Managed Care Option (HMO) No Deductible for regular office visits No Out-of-network benefits No Primary Care Physician referral required Co-payments: $15 routine office visits; $25 for specialist visits Louisiana Service Area Network Providers Prescription Drugs – forced generic drugs; Closed Formulary; you pay 50% of the cost of the drug up a $50 maximum. No dollar cap on Wellness Benefits Utilizes the United Behavioral Health Network for Mental Health/ Substance Abuse services $1 million lifetime benefit maximum Monthly Premiums
11	LSU’s Definity Health Plan LSU contributes a certain amount to your Personal Care Account (PCA) that you and your family may use for covered healthcare and prescription benefits. This is up-front, first dollar coverage. You must meet a member responsibility if you spend all of your PCA dollars before the end of the fiscal year. Once you meet your deductible, your eligible healthcare expenses are covered at 90% for in-network services and 70% for out-of-network services up to the annual out-of-pocket maximum . Once the out-of-pocket max is reached, you and/or your family are covered at 100%. Unspent PCA Dollars rollover to the next year to be used to eliminate or reduce your out-of-pocket expenses. There is a $4,000 limit on your PCA. Network Wellness Benefits are covered at 100% outside of the Personal Care Account. One eye exam per year per person is covered under wellness benefit. *Each year your PCA is replenished by LSU.*
12	The LSU System Definity Health Plan Option 1
13	The LSU System Definity Health Plan Option 2
14	Definity Health Plan On-Line Benefits www.definityhealth.com Pre-member website logon user name: lsusystem; password: inform Personal on-line accounts for you and each of your family members Detailed report on claims activities Exclusive access to Johns Hopkins University for health and wellness information Ability to print ID cards from your web page; One card will be printed for someone with less than 5 dependents Detailed medical care and prescription cost information Criteria-driven provider search capabilities and complete provider list Ability to view your Personal Care Account (PCA) Balance
15	Definity Health Monthly Premiums for 12-month Employees
16	Definity Health Monthly Premiums for 9-month Employees
17	Monthly Premiums For Health Plans
18	Supplemental Benefits offered by LSU
19	Available Supplemental Plans
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21	What you Can and Can Not Do at Annual Enrollment CAN Re-enroll in Health and/or Dependent Care Flexible Spending Accounts Enroll in Premiums Only Plan Enroll in Dental and/or Vision Review/Change Medical Plan (does not remove Pre-X Condition)
22	Contact the Benefits Service Center within 30 days of any of the following events: Marriage, custody, birth/adoption of child Divorce Death of spouse or child Child reaches age 21 (age 24 if enrolled in college) Name change or change of address Change in beneficiary
23	Retirement Plans with Louisiana State University For Unclassified, faculty or staff positions, click here For Classified, Civil Service positions, click here
24	Louisiana State Employees Retirement System (LASERS) If vested in Teacher’s Retirement Plan, you do not have to participate in LASERS. If you are 50-60 years of age, and have 40 Quarters of participation in Social Security, you may opt out of LASERS and contribute to Louisiana Deferred Compensation (DCCL). If you are 60 or older you may opt out of LASERS and contribute to DCCL regardless of your Social Security status. Defined Benefit Plan-benefit guaranteed when you reach age & years of service criteria (click here for sample calculation). Contribution rate: - Employee – 7.5%, Employer – 6.7497% Vesting period – 10 years; if you leave LSU after 10 years of contributions and reach retirement age somewhere else, you can still receive a benefit from LASERS provided you do not refund the account. Disability and Survivor Benefits Upon separation of state service, you can receive direct payment or roll contributions to an IRA, but lose your years of service with the state.
25	Unclassified/ Professional Retirement Eligibility If you meet the following criteria, click: Unclassified Permanent Employees: Must have a full-time appointment of greater than 2 years at 50% effort or greater for faculty and 51% effort or greater for staff.
26	Retirement Plan Options for Permanent Employees Options for Permanent Employees: 1. Teachers’ Retirement System of Louisiana (TRSL) 2. Optional Retirement Plan State law requires enrollment in TRSL therefore, you are automatically enrolled in TRSL as a permanent employee. You may elect to enroll in an Optional Retirement Plan (ORP). If you enroll within 60 days of your hire date, both employee and employer contributions will transfer from TRSL to your ORP carrier. Enrollment period is within the first 60 days from date of hire. If an ORP enrollment is submitted after 60 days, only employee contributions will be transferred.
27	Teachers’ Retirement System of LA (TRSL) www.trsl.state.la.us Defined Benefit Plan-benefit guaranteed when you reach age & years of service criteria (see next slide for sample calculation). Contribution rate: - Employee - 8%, Employer – 6.7497% Vesting period – 5 years; if you leave LSU after 5 years of contributions and reach retirement age somewhere else, you can still receive a benefit from Teacher’s provided you did not refund the account. Disability and Survivor Benefits If you wait until after your first 60 days to enroll in ORP, only your contributions will be transferred to your ORP Account. You may switch to an ORP within first 5 years, but will lose employer contributions. Upon separation of state service, you can receive direct payment or roll contributions to an IRA, but lose your years of service with the state.
28	Sample Benefit Calculation for Teacher’s Retirement Based on a person’s high average annual salary of $50,000/ year with 25 years of service
29	Sample Benefit Calculation for LASERS Retirement Based on a person’s high average annual salary of $30,000/ year with 25 years of service
30	Optional Retirement Plan Available to Permanent and Temporary Employees. An alternative to Teacher’s Retirement or Social Security. Defined Contribution Plan – investing in mutual funds – retirement benefit is based on value of account at retirement. Contribution rate: - Employee – 8%; Employer – 6.7497% ING Aetna (www.aetnafinancial.com), TIAA-CREF (www.tiaa-cref.org), VALIC (www.aigvalic.com) are providers you can choose from Investment Options – You have control over where your money is invested. Immediate Vesting - can take both your contributions and LSU’s contributions with you when you leave Decision to Enroll is Irrevocable Upon separation from state service, funds may be rolled to an IRA.
31	Retirement Plan Options Temporary Employees Options for Temporary Employees: 1. Social Security 2. Optional Retirement Plan 3. Louisiana Deferred Compensation Since a retirement election is mandated by state and federal law, you, as a temporary employee, will automatically be enrolled in Social Security. You may elect to enroll into an Optional Retirement Plan (ORP)or Louisiana Deferred Compensation (DCCL) within 30 days of your hire date. Enrollment period is within the first 30 days from date of hire. Any enrollment into ORP or DCCL after 30 days will result in a delayed effective date.
32	Social Security You are automatically enrolled into Social Security for a temporary appointment since enrollment in a retirement plan is mandated by state law. You may elect to enroll in an Optional Retirement Plan (ORP) or Louisiana Deferred Compensation (DCCL), within 30 days of appointment date. Both employee and employer contributions will be remitted to your retirement carrier if election is made within 30 days of hire date. Any enrollment in DCCL or ORP submitted after 30 days will result in a delayed effective date. Contribution rate: - Employee – 6.2%, Employer – 6.2% Social Security contributions are not refundable. 2 year participation unless appointment is part-time. At which point you will have to choose between ORP or Teacher’s Retirement If you are eligible for a retirement plan (permanent for retirement purposes), you will not pay into Social Security.
33	Louisiana Deferred Compensation (DCCL) An alternative to Social Security for temporary employees only. Contribution rate: - Employee – 7.5%, Employer – 6.2% If you are a temporary for retirement purposes, you may enroll into DCCL within 30 days of hire date without a delayed effective date. Your contributions, as well as, LSU’s contributions will be rolled from Social Security into DCCL if enrolled within 30 days of hire date. Funds (employee and employer) may be refunded at termination without penalty. You choose your investment options; invest in mutual funds 2 year maximum participation unless appointment is part-time at which point you will have to choose either Teacher’s Retirement or an ORP.
34	Optional Retirement Plan Available to Permanent and Temporary Employees. An alternative to Teacher’s Retirement (for permanent employees) or Social Security (for temporary employees). Defined Contribution Plan – investing in mutual funds- retirement benefit is based on value of account at retirement. Contribution rate: - Employee – 8%; Employer – 6.7497% ING Aetna, TIAA-CREF, VALIC to choose from as your ORP Carrier. Investment Options – You have control. Immediate Vesting – you can take both your money and LSU’s money with you when you leave employment. Decision to Enroll is Irrevocable Upon separation from state service, funds may be rolled to an IRA.
35	How much will I need at retirement? Click Here for Retirement Calculators
36	Tax-Deferred Supplemental Retirement Accounts May enroll at any time Contributions are payroll deducted on a pre-tax basis. No employer match List of approved providers: CLICK HERE
37	Advantages of Supplemental Retirement Accounts Use the following scenarios as a rule of thumb for determining how much of your income you should replace post-retirement: 70% to 80% - You will need to pay for the basics in retirement, but you won't have to pay many medical expenses. You're planning for a comfortable retirement without much travel. You are older and/or in your prime earning years. 80% to 90% - You will need to pay for some medical costs above Medicare, which on average covers about 55%. You plan to take some small trips, and know that you will need to continue saving some money. 100% to 120% - You will need to cover all costs above Medicare. You are very young and/or your prime earning years are ahead of you. You would like a retirement lifestyle that is more than comfortable. You need to save for the possibility of Long Term Care, and you know based upon family history that you may live past 95. An excellent way to help you achieve your retirement financial goals by allowing you to supplement your retirement income on a tax deferred basis. Payment of taxes on contributions and interest earned are delayed until you elect to withdraw your funds, usually at retirement.
38	General Information Policy and Procedures Cultural and Recreational Activities Dining Facilities Educational Opportunities Center for Faculty Development Annual and Sick Leave Promotion/Tenure/Sabbaticals for Faculty Parking ID Cards Credit Union Employee Training and Development
39	General Forms to turn in at time of employment Annual leave accrual rate election form (professional, 12-month academic employees, and staff only) PS-67 Appendix A – Acknowledgement of Drug Policy LA State Tax Form / W-4 Federal Tax Form Direct Deposit Authorization Salary Payment Form (9 Month Academic Only) E-2 Pre-Existing Condition Form (Workers Comp) LSU Employee Information Sheet Biographical Data Card I-9 Employment Eligibility Verification (See department HR Contact for this form) Pre-tax Salary Reduction Parking Form Return forms to your department HR contact
40	"For questions or to make..." For questions or to make an appointment, please call the Benefits Service Center at 578-8200 Or click here to e-mail a question
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