EmployEE Handbook - Marymount University

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