Summary of Benefits for Faculty

RETIREMENT- INADS employee can opt for any retirement plan as per their convenience. Employees are responsible for getting their own retirement plan. There are two retirement options for new faculty members:

State Employees Retirement System (SERS)

Employees contribute nine (9%) percent of gross earnings plus an additional two (2%) percent for wages over $30,000 under both plans.  Under the SERS Plan this allows for a pension upon retirement at age fifty-five (55) with the equivalent of ten (10) years’ service or at any age with the equivalent of twenty (20) years full-time service.  If an employee leaves State service before retirement age, he/she will receive a refund after filing proper forms. 

Optional Retirement Plan (ORP)

The alternative to the SERS plan available to new full-time teaching faculty is the Optional Retirement Plan (ORP). The employee and the Commonwealth of Massachusetts make a monthly contribution (see above). A long-term disability (LTD) plan and life insurance is provided as part of the Commonwealth’s contribution to all ORP participants.  The ORP is a defined contribution plan.

Life Insurance – An eligible full-time employee will be covered under the plan now in effect pursuant to the provisions of Massachusetts General Laws, Chapter 32A, Sections 5, 6, 8 and 10.  Basic life insurance of $5,000 is included in the cost of the health insurance. An Optional Life Insurance plan, up to 8 times your salary minus $1,000, is available. Optional life insurance is employee paid.

Long Term Disability Insurance Coverage – Optional and employee paid.  

Health Insurance – The Commonwealth and each covered employee shall pay the monthly premium rate for the Group Insurance Plan (state or HMO plans) as governed by the Group Insurance Commission (GIC) in a percentage amount (currently 80% and 20%, respectively) to be determined by the General Court for the type of coverage that is provided to such employee and his/her dependents under the plan.  Health coverage is effective on the first of the month following sixty (60) calendar days of employment.

Dental Insurance – Optional and employee paid.

Long Term Disability Insurance Coverage – Optional and employee paid.  

Worker’s compensation – An employee shall be covered by the provision of Ch. 152 of the General Laws to the extent that the Commonwealth has acted pursuant to Sec. 69 thereof to include them within the coverage of said Ch. 152.

Medicare Tax – 1.45%.

Paid Holidays – 30 days per year, (pro-rated for eligible full-time employees), 11 days per year (pro-rated for eligible part-time employee).

Annual Vacation Leave – None

Personal Leave – None

Sick Leave – Eligible employees accrue ten (10) days annual sick leave.  Sick leave is accrued monthly in hours.  Accruals are listed on your bi-weekly pay stub.  No maximum accrual limit.  Upon retirement you may receive 20% of your balance of sick leave days. 

Funeral Leave – Upon the death of your husband, wife, child, parent, spouse’s parent, brother, sister, brother-in-law, sister-in-law, stepchild and grandparents or a person living in your immediate household, funeral leave with full pay shall be granted for a period not exceeding four (7) days.

Dependent Care (DCAP) – Optional, and it is a responsibility of an employee to set up this.

Health Care Spending Account (HCSA) - Optional, and it is a responsibility of an employee to set up this.

Tuition Waiver – An employee and spouse or domestic partner and dependent children shall be allowed to enroll 50% tuition free at this institute, excluding the research courses.  Costs for graduate courses are reportable taxable income.

Direct Deposit – Direct Deposit is strongly encouraged and can be managed online. 

Tax Sheltered Annuity Plans – Employee paid.  Federally tax deferred.  Cap of $15,500 per year

Deferred Compensation Plan – Employee paid.  State and federally tax deferred. Cap of $15,500 per year.

U.S. Savings Bonds – Employee paid– may enroll at any time.

Met Pay Auto and Homeowner’s Insurance – employee paid. 

Met Law, Comprehensive Program-employee paid. 

Payroll Information - Paychecks are issued on a bi-weekly basis.  The annual salary is divided over 26 weeks, so that health benefits and other deductions are not interrupted during non-reportable days.  Direct Deposit is strongly encouraged and can be managed on-line.  We also encourage you to eliminate receiving your paper pay stub and view your paycheck on-line. 

I-9 Information- The Federal Immigration Reform and Control Act of 1986 requires that all new employees complete an I-9 form and present documents establishing both their identity and employment eligibility.  Please see the Form for a list of acceptable documents.  The original documents must be presented for examination when completing personnel/payroll forms (copies are not acceptable).  I-9 verification process must be complete within three days of employment.

Personal Information- You must notify the Institute of name, and beneficiary changes.  Updates to other personal information such as address, phone, tax withholding exemptions, etc.… can be managed online.

Employee Self Service - The following Employee Self Service features are now available on-line in EmpPoRT (Employee portal):

View Your Paycheck

View and Update your Personal Information

View and Update Your Emergency Contacts

Enroll in or change Direct Deposit information

Eliminate receiving your paper pay stub

Update Federal and Massachusetts Tax Exemptions

View W2 information

Access EmpPoRT at www.inads.org/EmpPoRT