Benefits and Services
Credit Union
Employees of Texas Tech University and Texas Tech Health Sciences Center can become members of the Texas Tech Federal Credit Union. Members can enjoy the many services that TTFCU offers, including free checking with online banking and free bill pay. The Credit Union also offers new and used vehicle loans, signature loans, mortgage loans, and home equity loans. The Credit Union offers MasterCard and VISA credit cards, which now include "rewards" and "cash back" credit cards. Members enjoy the ease of direct deposit, payroll deduction, 24-hour Telephone Teller, Internet banking and over 25,000 free ATMs. There are three full service on-campus locations: 1802 Texas Tech Parkway; room 166 of the Administration Building; and 1A098 at the Health Sciences Center. For more information, visit the Web site at www.texastechfcu.org or call 806.742.3606.
Holiday and Sick Leave
Holidays. The Texas Legislature sets the number of holidays to be observed each year by state employees. The university observes the same number of holidays as other state agencies. The holiday schedule is adjusted each year by the Board of Regents to permit efficient academic scheduling.
Sick Leave. Regular full-time faculty members accrue 8 hours sick leave per month. The accrual for part-time faculty members is proportional to their FTE. Faculty members must submit prescribed leave forms for all sick leave taken if the absence occurred during the normal workday for regular employees, even if no classes were missed. See OP 32.11 for Faculty Sick Leave Policy.
Group Insurance
Texas Tech University participates in the State of Texas Employees Group Insurance Benefits Program. The Employees Retirement System is the state agency that administers this program.
Health Insurance Coverage. . Each full-time benefits eligible employee is automatically covered for employee only medical, $5,000 term life and $5,000 accidental death and dismemberment (AD&D) insurance at no cost to the employee. Eligible dependents may be covered with the employee paying 50 percent of the dependent cost. Part-time benefits eligible employees pay 50 percent of the premium for the employee only coverage and 75 percent of the cost for dependent coverage. The amount contributed by the university toward the employee’s health insurance is subject to change by the Texas Legislature. New employees are subject to a 90-day waiting period for health coverage.
Employees are enrolled in HealthSelect, a self-funded managed care plan that offers network and non network benefits. For more details on the premiums and benefits provided refer to www.ers.state.tx.us.
Enrollment in health insurance is not required in order to enroll in the optional coverages listed below. Premiums for optional coverages are fully paid by the employee through payroll deduction.
Dental Coverage.Benefits eligible employees have a choice between two dental plans. The dental maintenance plan is a DMO and provides benefits when the employees utilize the DMO network of dentists. The Dental Choice Plan does not restrict the dentist an individual can use; however, the benefits are greater if the individual selects and sees a dentist from the plan’s provider network. Dental coverage is not subject to the 90-day waiting period and enrollment must be completed during the first 31 days of employment or during summer enrollment. The full premium for dental coverage is paid by the employee through payroll deduction. For more details on the premiums and benefits provided by these choices refer to www.ers.state.tx.us.
Optional Term Life Insurance. Benefits eligible employees may elect term life coverage with AD&D with options of one, two, three, or four times annual salary not to exceed $400,000 (three or four times salary requires evidence of insurability). Optional Term Life Insurance is not subject to the 90-day waiting period and enrollment must be completed during the first 31 days of employment. Subsequent application for enrollment will be subject to satisfying evidence of insurability. For more information refer to www.ers.state.tx.us.
Dependent Term Life Insurance. Benefits eligible employees may elect $5,000 term life insurance with $5,000 AD&D for all eligible dependents. Benefits are payable to the employee. Dependent Term Life Insurance is not subject to the 90-day waiting period and enrollment must be completed during the first 31 days of employment. Subsequent application for enrollment will be subject to satisfying evidence of insurability. For more information refer to www.ers.state.tx.us.
Voluntary Accidental Death and Dismemberment (AD&D). Benefits eligible employees may elect additional accidental death and dismemberment coverage between $10,000 and $200,000 in increments of $5,000. This plan also provides an option for dependent coverage based on a percentage of the employee’s coverage. Voluntary AD&D is not subject to the 90-day waiting period and enrollment must be completed during the first 31 days of employment or during summer enrollment. For more information refer to www.ers.state.tx.us.
Short-Term (STD) and Long-Term (LTD) Disability Coverage. . Benefits eligible employees may elect STD and/or LTD to provide income replacement upon becoming totally disabled and unable to work. STD and LTD benefit payments are offset by any disability benefits received from other sources (such as Social Security, Workers Compensation, and retirement disability benefits). STD and LTD are not subject to the 90-day waiting period and enrollment must be completed during the first 31 days of employment. Subsequent application for enrollment will be subject to satisfying evidence of insurability. For more information refer to www.ers.state.tx.us.
Other Insurance
Workers’ Compensation Insurance (WCI). WCI is regulated by the state of Texas and may provide medical and income benefits for injuries and occupational illnesses that arise out of the course and scope of employment. This program is available to all employees whose names appear on the payroll. The Texas Tech University System Office of Risk Management is the point of contact for all employees. That office will report to the State Office of Risk Management, the agency that administers the program. The Texas Department of Insurance Workers’ Compensation Division promulgates rules and regulations governing WCI (OP 70.13)
Automobile Liability Insurance. The university maintains an automobile liability insurance policy to cover each employee required to operate university-owned vehicles as a part of assigned duties. Such employees must be designated “approved” by The Texas Tech University System Office of Risk Management (OP 79.13 and 80.07). Additional information is available through the Office of Risk Management.
Legal Liability Insurance. The Attorney General is required to undertake the defense and the State of Texas to assume the liability for damages awarded against any university employees reasonably acting within the course and scope of their duties. As a state agency the university enjoys certain protection from liability under the Texas Tort Claims Act and is therefore prohibited from purchasing general liability insurance.
Unemployment Compensation Insurance (UCI). Each employee in a position not requiring student status as a condition of employment is covered by the Unemployment Compensation Insurance Program. Through the UCI program, an employee may be eligible for weekly benefit payments during a period of unemployment which occurs through no fault of the employee.
An employee of the university cannot be paid UCI benefits for any week of unemployment that begins during the period between two regular academic terms, or which begins during an established vacation period or holiday recess, if the employee worked the first of such terms or work periods and has a reasonable assurance to work in the second of such terms or periods.
TEXFLEX Programs
(IRS Section 125 Cafeteria Plans)
Premium Conversion. All benefits-eligible employees enrolling in the insurance program are automatically enrolled in premium conversion. Insurance premiums, with the exception of dependent life, LTD and STD, are deducted from pay on a pre-tax basis, before federal income and social security taxes are calculated. The result is that employees save money on taxes and receive more take-home pay. Premium conversion prevents employees from adding, dropping, increasing, or decreasing any group insurance coverages during the plan year unless a qualifying event occurs. For more information refer to www.ers.state.tx.us.
Flexible Spending Account – Health Care (FSA-Health). A benefits eligible employee may elect to contribute as little as $15 per month ($180 annually) or as much as $5,000 per year to a FSA-Health. This contribution is deducted from pay on a pre-tax basis resulting in more take-home pay for the employee. The FSA-Health can then be used to pay for health care expenses not covered by insurance such as, eyeglasses, co-payments for physician and dental visits. Reimbursement accounts, by federal law, have a “use it or lose it” provision which necessitates caution in estimating reimbursable expenses for the plan year. For more information refer to www.ers.state.tx.us.
Flexible Spending Account – Day Care (FSA-Day Care). A benefits eligible employee may elect to contribute as little as $15 per month ($180 annually) on a pre-tax basis to a FSA-Day Care. The maximum contribution for the plan year is the lesser of the employee’s income, the spouse’s income, or $5,000 per family ($2,500 if married but filing separately). FSA-Day Care can be used to save money on a dependent child’s daycare or after-school care (until age 13) or dependent care for an adult family member. FSA-Day Care may save more money in taxes than the Child Care Tax Credit; however, it depends on your income. Employees may go to the “Tax Credit Wizard” link on the PayFlex Web site linked to the ERS Web site, to a get a free tax analysis to see whether the FSA- Day Care or the federal Child Care Tax Credit saves more money. Reimbursement accounts, by federal law, have a “use it or lose it” provision which necessitates caution in estimating reimbursable expenses for the plan year. For more detailed information refer to www.ers.state.tx.us.
Recreational Sports
The recreational facilities and programs of the university are available to faculty members who purchase a use permit from the Department of Recreational Sports. Facilities include the Student Recreation Center, the indoor-outdoor Aquatic Center, 8 lighted tennis courts, and outdoor play fields. The Robert H. Ewalt Student Recreation Center has 242,000 square feet of activity and recreational space, making it one of the largest student recreation centers in the nation. The building includes seven basketball/volleyball courts; an indoor soccer arena; a 6,500-square-foot Olympic weight room; more than 10,000 square feet of cardiovascular machines and selectorized weight machines; and a four-lane, 1/8 mile elevated jogging track. Also available are two aerobic/dance studios, a 52 foot high climbing center, 12 racquetball courts, a fitness/wellness center, locker rooms, an outdoor pursuits center, and an indoor/outdoor Olympic-size swimming pool. The program also provides equipment checkout for a variety of sports and reservation opportunities for tennis courts, fitness equipment, and racquetball courts.
The Aquatic Center is an indoor 50 meter swimming facility that is open during the cool weather months. A 67,000 square foot outdoor leisure pool allows for great outdoor swimming opportunities during the warm weather months. Included in this facility are lap lanes, lazy river, wet deck sunning areas, water basketball and volleyball area, diving board and drop slide as well as food options with Sam’s Place Poolside. Semester or season passes can be purchased.
Programs include intramural competition, adult fitness classes, and many noncredit recreational instructional classes and clinics. In addition, Recreational Sports offers swimming instruction and a Sports Skill Camp during the summer for staff members and their families on a fee basis.
Retirement
Each regular employee of the university at the time of employment is required as a condition of employment to be a member of the Teacher Retirement System (TRS). An Optional Retirement Program (ORP) is available in lieu of TRS for full-time faculty and certain executive management, professional, and administrative employees. Contributions to TRS and ORP are on a tax-deferred basis.
Teacher Retirement System (TRS). The TRS is a traditional state retirement program in which investment risks are generally absorbed by the state. Contributions go into a large trust fund that is managed by knowledgeable professionals with a prudent, yet very successful investment strategy. This type of plan provides stability and does not require any investment decisions by the individual members. Retirement benefits are based on legislatively determined formulas. Employees are required to contribute 6.4 percent of their salary. The employer contribution rate is 6.58 percent. These percentages are subject to legislative change. For more information on the TRS, refer to www.trs.state.tx.us. For a comparison of the TRS and ORP, refer to the benefits link at www.depts.ttu.edu/hradministration/hrservices/EMPServicesCenter/retirement.asp.
Optional Retirement Program (ORP). ORP is an individualized plan in which each participant selects a variety of investments such as annuity contracts or mutual funds with an authorized company. Because participants manage their own personal investment accounts, ORP entails more individual risk and responsibility than that associated with TRS membership. Benefits are a direct result of the amounts contributed and any return on the investments selected by each participant. Upon termination of employment from Texas public higher education, ORP participants with more than one year of participation retain control over all investments (both employee and employer contributions). Participants who terminate with one year or less of initial participation forfeit employer contributions made during that term of employment. Each employee contributes 6.65 percent of salary and the employer contribution rate is 6.4 percent. These percentages are subject to legislative change.
An employee must exercise an option to participate in the ORP within 90 days following the date of eligibility. If no election is made within the 90 days, the employee will be deemed to have chosen membership in TRS. This decision is irrevocable.
For more information refer to OP 70.07. For a comparison of ORP and TRS, refer to the benefits link at www.depts.ttu.edu/hradministration/hrservices/EMPServicesCenter/retirement.asp.
Old-Age Survivors Insurance Program (OASI) (Social Security). Unless visa exempted or student status exempted, each employee of the university is required to participate in the Federal OASI Program. The payroll deduction is based on a percentage of salary. The employee’s and employer’s portion and the maximum covered wage are subject to change by the Social Security Administration. For information regarding OASI benefits, refer to www.ssa.gov.
Voluntary Retirement Programs
Tax-Sheltered Annuity Program (TSA). Under the Tax-Sheltered Annuity Program, employees enter into an agreement with Texas Tech by completing a Tax-Sheltered Annuity Salary Reduction Agreement to reduce gross salary up to specified limits and to request that Texas Tech apply the proceeds of such reduction to the purchase of a 403(b) fixed annuity, variable annuity, custodial, non custodial, or mutual fund account from companies approved by Texas Tech. Contributions to a TSA are tax deferred. For more information on the TSA program, refer to OP 70.09 at the Web sites www.depts.ttu.edu/opmanual and the benefits link on the retirement program Web site, www.depts.ttu.edu/hradministration/hrservices/EMPServicesCenter/retirement.asp.
Texa$aver. Employees can enroll in the Texa$aver plan to have payroll deductions up to specified limits on a tax-deferred basis under IRS 457. ING currently serves as the third-party administrator for the program. Refer to the Texa$aver link at www.ers.state.tx.us for more information. Back to Top
Ticket Privileges
Athletics
Benefits eligible full-time faculty and staff are eligible to receive a 20 percent discount on season tickets (two per sport) in football, baseball, and men’s and women’s basketball. Interested persons may contact the Athletic Ticket Office at the north end of Jones AT&T Stadium (806.742.4412).
Music, Dance, Lectures, and Theatre
The School of Music presents faculty and student concerts and recitals and a series of guest performances throughout the year. Faculty and their families are invited. There is normally no admission charge. However, some special events are ticketed. Call 806.742.2270 for information. The Department of Theatre and Dance offers a full-time faculty and staff season subscription to its Mainstage season that is a 50 percent savings over individually priced tickets. For ticket reservations, pricing, and ticket information, call the Texas Tech University Theatre Box Office at 806.742.3603.