Long Term Disability Insurance
The University provides an insurance benefit to assist employees who are disabled more than 26 weeks within a 52-week period. New York Life also administers the University’s long-term disability benefit. As a result of a combined managed disability program with one carrier, the transition from short-term disability to long-term disability will be seamless to the employee.
If approved for long-term disability, employees are entitled to the following benefits covered by this insurance:
- Income of up to 60% of your current base salary, not to exceed $7,500.00 per month up to the date you are no longer deemed disabled, or to age 65, whichever occurs first. For employees that become disabled on or after age 60, please contact University Benefits for the maximum duration of benefits.
- Replacement income will be offset by income provided by Social Security Disability, Worker’s Compensation and/or any other income source available to you based on the terms of the Plan.
- Continued retirement contributions on your behalf, for the duration of your disability.
- Continued life insurance coverage if approved by the life insurance carrier.
Pace University provides the following additional benefits to supplement this insurance:
- Continued medical coverage. (The individual premium remains the same as when you first became disabled. There is an additional premium to continue +1 or Family coverage.)
- On-Campus Tuition Remission for you, your spouse and dependent children to age 30, if you have been employed full-time for at least 5 continuous years as of your date of disability. If you pass away while on Long-Term Disability, and you had previously achieved 5 years or more of active full-time continuous service, the On-Campus Tuition Remission benefit will continue for your surviving spouse/registered domestic partner and children (who are age 14 or over at the time of your death), in accordance with the On-Campus Tuition Remission policy, which may be amended from time to time.
- Ability to participate in the group dental plan for 24 months.
Eligibility: All active full-time faculty and staff who have completed one year of continuous full-time service.
Enrollment: You will be automatically enrolled after completing 1yr of full time continuous service.
Cost: The University pays the entire cost of your coverage.
Please contact University Benefits for further details on eligibility, coverage duration, etc.