Participants in the University LTD Plan may notice a change to the LTD payroll deduction amount. The deduction is calculated annually, and is effective for the period of December 1, 2014 - November 30, 2015. The LTD deduction amount may change based on the following:
- Salary: The benefit amount received under this plan is calculated based on salary as described in the LTD Certificate (see page 12). As salary changes, the deduction amount may change accordingly. Therefore, an increase in salary may result in an increased deduction amount. A decrease in salary, such as with a job change, may result in a decreased deduction amount.
- Age: Rate categories are determined by age. Reaching an age in a higher rate category may increase your deduction amount.
For bi-weekly paid employees, any change to your LTD Plan deduction will be effective with your December 3, 2014 paycheck.
For monthly paid employees, any change to your LTD Plan deduction will be effective with your December 16, 2014 paycheck.
Questions?
View the LTD Certificate and more plan information in NESSIE or contact your University Payroll and Benefits (UPB) office at:
