6.2.1 Insurance Plans
The university, through the state of Tennessee, offers a group insurance program to all regular employees who work a minimum of 75% time. The program includes medical, life, and accidental death or dismemberment insurance. Other insurance plans are available for other needs to qualified individuals. Illness or injury sustained in the course of employment is covered by the State of Tennessee Worker’s Compensation Program. The flexible benefits plan permits the university to exclude, from both federal income and Social Security taxes, premiums paid for group medical and dental insurance and university parking premiums deducted from the employee’s paycheck for participating employees. In addition, the university offers optional dependent care and medical reimbursement accounts in the flexible benefits plan.
6.2.2 Educational Assistance
Faculty members may be eligible for maintenance fee (tuition) waiver under the provisions of the Personnel Policies and Procedures and with the approval of the department head, dean, and chancellor.
Regular full-time faculty members are also eligible for a student maintenance fee (tuition) discount for their spouses and dependent children who have been admitted to the university as undergraduate students through standard admission procedures. Fee discounts do not apply to other student fees. Spouses and dependent children of regular part-time faculty members who have one (1) or more years of regular continuous service with the University of Tennessee working a minimum of 50 percent time shall receive a pro rata discount based on the percent of effort currently worked by the employee.
6.2.3 Retirement
The university offers five retirement programs and retirement counseling. Regular full-time faculty members must participate in a retirement program. Participation in retirement programs is optional for part-time faculty members. In addition, the university offers several optional tax deferred income plans.
6.2.4 Longevity Pay
The University of Tennessee seeks to reward regular faculty members and staff for their years of service with the university and state. Regular full-time employees and regular part-time employees working 82.05 percent time or more, who have completed 36 full-time equivalent (fte) months of service at 82.05 percent time or more with UT, The State Board of Regents, or any other agency of the state of Tennessee are eligible to participate in the longevity pay plan.