Benefits for Full-Time Faculty and Staff
Insurance and Retirement
Medical Insurance
Effective 1st active working day of the month following employment. Pre-tax monthly premium. Three Plan Options: Core POS, Basic POS, Plus POS. Coverage Options: Employee; Employee & Spouse; Employee & Child(ren); Family. Enrollment optional.
Dental Insurance
Effective 1st active working day of the month following employment. Pre-tax monthly premium. Two Plan Options: Dental HMO or Dental PPO. Coverage Options: Employee; Employee & Spouse; Employee & Child(ren); Family. Enrollment optional.
Vision Insurance
Effective 1st active working day of the month following employment. Pre-tax
monthly premium. Coverage options: Employee; Employee & Spouse; Employee & Child(ren);
Family. Plan provides benefits for eye exams, eyeglass lenses, frames and contact
lenses. Enrollment optional.
Flexible Spending Accounts
Effective 1st. active working day of month following employment, faculty may pre-fund for unreimbursed medical and dependent care expenses on a pre-tax basis.
University Basic Term Life and Accidental Death & Dismemberment (AD&D)
One times Base Salary Term Life and AD&D Insurance* - Provided to employee at no cost. Effective 1st active working day of the month following employment.
Additional Basic Term Life and Accidental Death & Dismemberment (AD&D)
Second one times Base Salary Term Life and AD&D Insurance* - Term Life policy paid for by the employee. AD&D policy provided to employee at no cost when Additional Basic Term Life is elected. Effective 1st active working day of the month following employment. Pre-tax premium. Enrollment optional.
*University & Additional Basic have a combined maximum coverage of $250,000. Restrictions apply at age 70.
Optional Term Life Insurance
One to three times your annual base salary up to a maximum of $500,000. Effective 1st active working day of the month following employment. Optional Life plan available to employees who are enrolled in the Basic group term insurance. Pre-tax premium. Enrollment optional.
Restrictions apply at age 70.
Optional Accidental Death & Dismemberment (AD&D)
1-10X Base Salary AD&D policy to a maximum of $ 500,000. Paid for by the employee. Effective 1st active working day of the month following employment. Pre-tax premium. Enrollment optional.
Long Term Disability
Paid by Loyola. 90 day elimination period, 60% of salary to a maximum benefit of $10,000 per month.
Retirement Plan
Mandatory participation after one year of service. Previous service with an eligible employer may qualify for immediate participation. Consult with the Human Resources Benefits Department for details. Employee contribution is 3.5% of annual earnings. Loyola's contribution is 8% of annual earnings. Vesting is immediate upon participation in this Defined Contribution Plan.
Tax Deferred 403(b) Retirement Accounts
403(b) voluntary supplemental retirement accounts. (Investment company options: TIAA/CREF, Fidelity Investments). Enrollment optional.
Social Security
Matching contribution to provide disability, health and retirement benefits, and survivor's benefits.
Tuition Remission
Loyola University New Orleans’ tuition remission benefit provides opportunities for educational development for eligible employees, their spouses and dependent children. For complete details of our Tuition Remission policy review the Human Resources Policies and Procedures.
