In the event of an active employee's death, a death benefit would be paid to his/her Estate.
To be eligible, an employee is required to have a minimum of two years of full time service. Payment is calculated as follows:
Number of full time years of service/2= number of weeks * (last base salary/52 weeks) = death benefit.
Pace University also provides the option to continue certain benefits as identified below:
An employee's surviving spouse/domestic partner and/or dependent children, to the age of 26, can continue to participate through the University's group plan, at their own expense. Our third party administrator, PayFlex, will bill the participant directly.
An employee's surviving spouse/domestic partner and/or dependent children, through the age of 23, can continue to participate in group coverage for up to 36 months at their own expense through COBRA. Surviving spouse/ domestic partner will be billed the current premium monthly rate, plus a 2% administration fee. PayFlex is the COBRA Administrator for Pace University. Notification of your COBRA rights and responsibilities will be forwarded directly to surviving family members by PayFlex.
If a deceased employee had achieved 5 years or more of active full-time continuous service, the On-Campus Tuition Remission benefit will continue for his/her surviving spouse/registered domestic partner and children (who are age 14 or over at the time of the employee’s death), in accordance with the On-Campus Tuition Remission policy, which may be amended from time to time.