Long Term Disability Premium and Plan Changes
The University 's Long Term Disability carrier, Unum, has announced a rate increase effective January 1, 2007. (The Long Term Disability plan is offered through the Gabor Agency.)
The premium for the 90 day option will increase from $.52 per $100.00 to $.61 per $100.00 of insured salary. The premium for the 30 day option will increase from $.85 per $100.00 to $.94 per $100.00 of insured salary. Regardless of the enrolled option, for an employee with an annual salary of $30,000, the rate increase amounts to an additional $1.13 biweekly.
Plan changes effective January 1, 2007 include:
• Maximum monthly benefit increased from $7,000 to $9,000.
• Annual cost of living adjustment reduced from 3% to 2%.
• Change in the definition of disability to reflect a two year "own occupation" provision rather than a three year provision.
• Change in the Social Security offset to include any monies an employee or their family receives as a result of an employee's own disability.
If enrolled, the new applicable premium will be reflected on the January 5, 2007 paycheck. There is no action required to continue coverage. If you wish to cancel coverage, please e-mail Dee Bryan (email@example.com) or Noyra Valentin (firstname.lastname@example.org).
Click here to access additional plan information.
Note: If you are unsure if you are enrolled or which option you selected, please access Gulfline and from the Employee Menu, select:
Benefits and Deductions
Benefits Statement (follow the prompts.)
Minimum Wage Increase Effective January 1, 2007
To comply with Florida's minimum wage increase, which becomes effective January 1, 2007, all employees--including OPS, Student Assistant, and Federal Work Study Students--must be paid a minimum of $6.67 an hour.
Departments do not need to take any action to increase the pay of current employees who are below this new minimum. Human Resources will identify all affected employees and automatically increase their pay rate to $6.67 effective January 1, 2007.
The Holiday Schedule through 2006:
Thursday & Friday - November 23 & 24
Christmas - 2006
Monday - December 25
Winter Break - 2006
Tuesday through Friday -
December 26 - December 29
New Year's Day - 2007
Monday - January 1, 2007
The 2007 Holiday Schedule (which includes links to the 2008-2010 Holiday Schedules) is available online via the Human Resources homepage or via the A-Z index accessible from the FGCU homepage.
2007 Payroll Calendar
Click here to view the payroll calendar for 2007.
Please note the following columns on the calendar which list important payroll processing deadlines.
Appt. Forms/ PAF's Due to HR - The last date by which our office must receive paperwork in order for it to be processed for the corresponding check date. (Please note that processing is contingent upon also having the employee's completed payroll sign on paperwork and signed offer letter, if applicable.)
OPS Time Entry Deadline - The last date by which OPS hourly employees must enter and submit hours worked in Gulfline for the corresponding check date.
Payroll Custodian/Supervisor Approval Deadline - The last date by which payroll custodians or supervisors must approve OPS time entry for the corresponding check date.
Check out the Employee Discounts page for an updated list of companies and/or organizations offering discounts to FGCU employees. Brochures and discount cards for selected discounts are available in Human Resources.
2007 Maximum Amount Contributable to Tax Sheltered Annuities
The maximum limit on employee elective deferrals to 403(b) plans is $15,500 for 2007. Employees 50 and older may make additional 'catch up' contributions of $5,000 for 2007.
Additionally, employees with 15 or more years of service may be able to defer up to an additional $3,000 more annually.
Please contact your tax-sheltered annuity company representative for more information regarding these limits.
Florida Prepaid College Plan
The Florida Prepaid College Plan allows you to lock in the cost of college tuition, local fees and dormitory housing - guaranteed! When your child is ready for college, the plan covers the actual cost at any Florida public college/university.
To obtain additional information or to sign-up online, visit www.florida529plans.com or call 1-800-552-GRAD (4723) to request an Enrollment Kit and application. To lock in this year's prices, you must sign up by , January 31, 2007. (You can sign up for the Florida Prepaid College Plan after January 31, 2007, but you will be subject to the prices effective October 2007.)
FGCU offers payroll deduction for the Prepaid Plan. To request payroll deduction, you must complete a separate Payroll Deduction Form. You can pick up the form from the Human Resources Department.
The Florida College Investment Plan gives families another way to save for college tuition, fees and housing and for the extras not covered by the Florida Prepaid College Plan. These extras include books, the additional cost of most private and out-of-state colleges/universities, and graduate school. Information regarding the Florida College Investment Plan is also available at the website or via the toll free number listed above.
You do not have to choose between the Florida Prepaid College Plan and the Florida College Investment Plan. You can sign up for one or both plans.