EmployEE Handbook - Marymount University
EmployEE Handbook - Marymount University
EmployEE Handbook - Marymount University
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2. Supplemental Retirement Annuity (SRA)<br />
All eligible regular, full-time and part-time employees may contribute to a<br />
TIAA-CREF Supplemental Retirement Annuity (SRA). This optional program<br />
permits <strong>Marymount</strong> employees to enhance their retirement program by making<br />
contributions through a “pre-tax” payroll deduction. Employees may initiate<br />
contributions to an SRA at the beginning of their <strong>Marymount</strong> employment or<br />
anytime thereafter. For more information about this retirement plan, please click<br />
on this url: http://www.marymount.edu/hr/benefits/suppRetire.aspx.<br />
3. Supplemental Retirement Annunity (RA)<br />
This is a closed program that is only open to employees who are already<br />
contributing to this supplemental annuity. Like the SRA, it offers its participants<br />
the opportunity to make pre-tax contributions through payroll deductions. Unlike<br />
the SRA however, a participant can’t stop and restart their contributions. It only<br />
offers its participants the option to increase or decrease their contributions or<br />
change the type of payroll deduction from a fixed dollar amount to a percentage<br />
or vice versa. For more information about this retirement plan, contact the MU<br />
Benefits Manager.<br />
<strong>Marymount</strong> <strong>University</strong> Tuition Benefit<br />
The following schedule of tuition benefits applies to all full-time employees of<br />
<strong>Marymount</strong> <strong>University</strong>: staff, administrators and faculty: For more information about this<br />
benefit please click on this url: http://www.marymount.edu/hr/benefits/tuition.aspx.<br />
Employee Benefit<br />
All regular, full-time employees are eligible for full tuition remission at the undergraduate<br />
and graduate level after six months of continuous full-time <strong>Marymount</strong> employment.<br />
( NOTE: Subject to current Federal statutes, undergraduate courses are not subject to<br />
taxes; however, the cost of graduate courses above $5,250 in a calendar year are taxable.<br />
Contact the Payroll Department for more information). Employee’s service eligibility<br />
for tuition remission is calculated as of the first day of the semester or term. Prior to<br />
completion of six months of continuous employment, employees are eligible for tuition<br />
remission on a pro-rated basis.<br />
Employees who enroll under a pro-rated schedule are responsible to arrange with Student<br />
Accounts to make timely payment of the remaining balance. Questions about pro-rated<br />
Tuition Remission should be directed to Human Resource Services.<br />
Employees may receive tuition remission for not more than six (6) credits per semester<br />
unless job-related factors required taking fewer than six credit hours in the immediately<br />
preceding semester. Any exception to the six (6) credits per semester limit is at the<br />
discretion of the supervisor and must be approved by the appropriate vice president.<br />
Classes, unless otherwise approved, must be scheduled outside regular <strong>Marymount</strong> work<br />
hours of the employee involved (regular work hours for day-time employees are 9:00<br />
a.m. to 5:00 p.m. and for other employees vary with their shift assignment). Employees<br />
may be permitted to take one (1) class per semester during their regular work hours at<br />
the discretion of their supervisor and with the approval of their vice president. Approval<br />
of a request to take a class during regular work hours is subject to the needs of the<br />
department and division, but will not be unreasonably withheld. Any time taken during<br />
work hours must be made up in the same week in which it is taken. An employee may<br />
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