Summary of Employee Benefits
This information provides an overview of benefits available to OBU employees. For more detail on the benefit packages for faculty, administrative and support staff, visit the Policies webpage or review the handbooks. Benefits are subject to change at the discretion of the OBU Board of Trustees.
- Health Insurance
- Dental Insurance
- Life Insurance
- Long-term Disability
- Retirement
- Flexible Spending (Section 125) Accounts
- Protected Health Information
- Paid Time Off
- Education Benefit
- Workers Compensation
- Other Services and Benefits
- Benefit Guide
OBU offers its employees a benefit package intended to provide financial protection against catastrophic illness or injury and an opportunity to accumulate assets for retirement.
As authorized by Sections 125 of the Internal Revenue code, health and dental premiums, retirement, medical reimbursement, and dependent care account deductions are made before taxes are applied, reducing taxable income and increasing take-home pay.
The costs of providing benefits are increasing; however, the University wishes to continue to offer its employees a cost-effective benefits program.
Health Insurance
OBU offers its eligible employees and retirees a choice of two plans provided by GuideStone BlueCross BlueShield High Performance Network:
- PPO Open Access Managed Choice
- PPO HSA High Deductible Health Plan
Highlights of the Plans
- One network option
- Option of HSA with HDHP
Dental Insurance
OBU offers its eligible employees a choice of two plan designs provided by Principal Dental.
Highlights of the Plan
- Preventive services - exams, cleanings, x-rays
- Basic services - fillings, simple extractions
- Major services
- Deductible applies to basic and major services only
- Orthodontics - only available on the Premier plan for individuals age 21 and under
Life Insurance
Group Life
As a regular employee of OBU, you are covered by a life insurance policy at no cost to you. Through DearBorn BlueCross BlueShield, you have coverage valued at 1x your annual salary (30k minimum). The current life insurance policy also provides accidental death and dismemberment valued at 1x your annual salary.
Long Term Disability Plan
The long-term disability plan provides you continuing income (up to 60% of lost monthly income) if you are unable to work for at least 90 days because of serious illness or injury. The cost of the plan is determined by salary. Premiums are paid by the University.
Retirement
Regular employees of OBU working at least 1040 hours per year in a benefits-eligible position are eligible to participate in a 403(b) retirement plan. The employee's contributions may be contributed on a pre-tax or Roth basis. The employee decides to establish this account with GuideStone Financial Resources of the Southern Baptist Convention or TIAA-CREF. Employees will automatically be enrolled in GuideStone Financial Resources of the Southern Baptist Convention if after 30 days no retirement account has been chosen. OBU offers retirement matching at a designated percentage level set each fiscal year.
GuideStone Financial Resources
Flexible Spending (Section 125) Accounts
Medical Dental Reimbursement Account
Employees may make pre-tax contributions to a medical spending account to pay for qualified medical expenses that are not covered by medical or dental insurance. Employees choosing to establish such accounts must plan carefully: money not used in the account at the end of the calendar year will be forfeited.
If you wish to participate in this program, you must enroll during your first 30 days of employment, during the annual benefits enrollment period, or when you experience an IRS approved change in family status. The enrollment form may be completed online in the Employee Navigator portal. You must enroll annually for this program.
Dependent Care Reimbursement Account
Employees may pay for work-related dependent care expenses with before-tax dollars by allowing pre-tax contributions to a flexible spending account. Employees choosing to establish such accounts must plan carefully: money not used in the account at the end of the calendar year will be forfeited.
If you wish to participate in this program, you must enroll during your first 30 days of employment, during the annual benefits enrollment period, or when you experience an IRS approved change in family status. The enrollment form may be completed online in the Employee Navigator portal. You must enroll annually for this program.
Reimbursement
You may request reimbursement for qualified dependent care expenses. You may complete the reimbursement form on the Employee Benefits Corporation website. Attach receipts when requesting reimbursement.
Protected Health Information (PHI)
The Human Resources Office has established policies concerning the use and disclosure of your protected health information (PHI) in compliance with the Health Insurance Portability and Accountability Act (HIPAA). For more details, review the OBU HIPAA policy.
Paid Time Off
The University recognizes the benefit employees derive from time away from work and, when possible, provides its employees with compensation for that time through vacation leave, sick leave and holiday pay.
Vacation Leave
This leave may be used for vacations and other absences as long as the absence is approved by the supervisor in advance. Vacation leave must be used within the fiscal year given, there is neither any carryover of vacation leave from one fiscal year to the next nor is there a payout of vacation leave upon termination.
Vacation leave is given according the following table:
| Length of service or years of experience | Vacation days (hours) per year |
|---|---|
| 0-2 years | 10 (80) |
| 2-5 years | 12 (96) |
| 5 to 15 years | 15 (120) |
| 15+ years | 18 (144) |
Each employee is also given one day off for their birthday.
Sick Leave
All employees, except faculty, receive eight hours of sick leave per month. Sick leave is to be used for personal illness or doctor's appointments. Six days per year may be used for personal illness or doctor's appointment for immediate family members. The accumulation limit for sick leave is 560 hours.
Faculty absences due to illness are covered in the Faculty Handbook.
Holidays
The University observes the following paid holidays each year:
- New Year's Day
- Martin Luther King, Jr. Day
- Spring Break - one day (varies, normally mid-March)
- Good Friday
- Memorial Day
- Independence Day
- Labor Day
- Thanksgiving (Wednesday–Friday)
- Christmas Eve and Day
Additional days may be granted at the discretion of the President. The holiday schedule is published at the beginning of the fiscal year.
Education Benefit
Workers Compensation
All employees are covered by state workers' compensation laws which may provide medical and income benefits if you are injured on the job.
Procedures
If you suffer an injury while performing your job duties, you must immediately report the injury to your supervisor and complete an Accident or Injury Report. Supervisors will follow the instructions in the Worker's Compensation Policy.
Other Services and Benefits
- Free general admission tickets to select OBU Athletics home games
- Free parking
- Free Recreation and Wellness Center membership
- Bookstore discount
- Cafeteria meal discount
- Mabee Learning Center