SHERIDAN COLLEGE FRINGE BENEFIT SUMMARY FOR FULL-TIME EMPLOYEES A. RETIREMENT – Employees are offered two options for retirement plans–the Wyoming Retirement System or the TIAA/CREF Plan. The College currently contributes 14.37% of the employee’s gross salary to either plan. There is no match and no cost to the employee.

1) Wyoming Retirement – This plan is available to State & College employees through the State of Wyoming. It is a Defined Benefit plan which utilizes a standard formula to determine the guaranteed monthly benefit at retirement. (formula: years of service plus age, plus 3 yrs. highest average salary; or rule of 85 = years of service plus age = 85)

2) TIAA/CREF – This plan is offered nationwide for employees in higher education, health care and many non-profits. TIAA/CREF is a Defined Contribution plan. This plan allows the employee to make investment decisions and offers numerous investment options to create the investment portfolio (mutual funds, stocks, bonds, guaranteed savings, etc.).

B. INSURANCE – (Health, Dental, Life) – The College offers group health, dental, and life insurance. The health and dental plans have designated PPO’s through the Great West Insurance provider network. Coverage is provided by the State of Wyoming Employees Group Insurance through contracts with Cigna, Delta Dental and Minnesota Life.

Group Health Insurance: Employees must enroll or waive coverage within 31 days from date of eligibility. Employees are eligible on the first day of the month following their first day of service. If the employee does not enroll within 31 days of eligibility, they must wait until open enrollment. Open enrollment is held November every year with coverage beginning January of the following year.

Group Dental Insurance: Employees must enroll or waive coverage within 31 days from date of eligibility. Employees are eligible on first day of the month following their first day of service. If employee does not enroll within 31 days of eligibility in the Optional Dental coverage, there is a three year waiting period to enroll.

Group Life Insurance: Employees must enroll or waive within 31 days from date of eligibility. Employees are eligible on the first day of the month following their first day of service. If employee does not enroll within the 31 days of eligibility, a proof of good health statement/form is required to enroll. A life insurance option to cover spouse/dependents is also available at an additional charge.

The College pays 85% of the monthly insurance premium for “employee only” level insurance. Other coverage levels include employee plus spouse, employee plus children or family coverage with a choice of deductible options for each level. For each level, the College provides a monthly premium contribution.

C. LEAVE - Paid time off is available for full-time employees in the following plans: Annual Leave: 20 days per year for Administrative & Executive employees 20 days per year for Classified Staff (for 10 and 11 month full-time contracts, the amount is pro-rated). Annual leave is accrued each pay period. New employees can borrow up to 10 days in their first year of employment.

Holidays: The Board of Trustees designates at least nine (9) and not more than sixteen (16) holidays annually.

Medical: Full-time employees accrue 1.5 days of medical leave per month. A maximum of 120 medical days can be accrued. Employees can convert up to two days of medical leave to

vacation (staff), personal leave (faculty) as follows: 0-2 medical days used eligible to convert to 2 days vacation/personal leave; 3-4 medical days used eligible to convert 1 day to vacation/personal day. An additional 22 days of medical leave is available for extended illness and is paid at 2/3 pay upon approval.

Personal: Employee may take up to 2 days per six months (Jan.-June & July-Dec.) as paid personal leave.

D. FLEXIBLE BENEFIT PLAN

Employees can choose to set up an account to pay with “pre-tax” dollars the following qualified expenses:

Flexible Spending Account – To pay pre-tax employee monthly group insurance premium.

Medical Reimbursement Account –Pre-tax account for qualified medical expenses not covered by insurance.

Dependent Care Account – Pre-tax account for allowable expenses for dependent care.

E. LONG-TERM DISABILITY INSURANCE Plan provides income protection in the event of total disability. Pays 66% of base earnings during the period of disability after a 90-day waiting period. There is no cost to the employee, fully paid by the College.

F. ADDITIONAL FRINGE BENEFITS:

 Employee Assistance Program (includes professional counseling)  Tuition Grants/Waivers for courses at NWCCD  Free admission to some campus activities  College Dental Clinic services at no charge  Bereavement Leave (5 days)  Emergency Leave (3 days)  Sabbatical Leave (after 6 years)  Supplement Retirement Investing—available through pre-tax payroll deduction (TIAA-CREF and/or WRS options)