The month of May signifies our annual BENEFITS CHOICE period in which you may make changes to your individual benefits options. Changes can be made May 1st through June 2nd and will take effect July 1, 2014.
This year, while there are changes to deductibles, co-pays and out of pocket maximums; there will not be an increase in the premiums for these benefits. For more information regarding the changes or information about your healthcare options, please see our website: http://www.eiu.edu/humanres/benefits/benchoicecurrent.php .
May is also the period in which you may enroll or re-enroll in the Sick Leave Bank. A new policy has just been put in place for the sick leave bank. Before enrolling, please read about the changes here: http://www.eiu.edu/humanres/benefits/forms/Sick%20Leave%20Bank%20Policy%202014.pdf. Please also note that while the policy states that automatic enrollment will occur, that feature will not be in place until next year.
For an overview of all the changes and/or for a list of other resources, please check out our Benefits Choice flyer http://www.eiu.edu/humanres/benefits/forms/Benefits%20Choice%20Flyer_FY15.pdf
Finally, another reminder that pension reform will affect nearly every active employee. One predominant change will be a change in the money purchase calculation. If you are eligible to retire and fall under the money purchase calculation, please be informed of the changes that may affect you. Please refer to the SURS website (http://www.surs.org/news-article/050114/learn-facts-about-pension-reform ) to read about the important changes that are coming, effective June 1st or July 1st, depending on the particular element of change.
As always, your EIU Benefits Office is available to answer any questions you may have. You may contact us at 581-5825 or by e-mailing benefits@eiu.edu . Appointments are encouraged.
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