Compensation Elements Presented by HR Specialists Compensation Elements
Compensation Elements Presented by HR Specialists
Compensation Elements Staff Salaries Pension & Benefits Wellness USG structure Extended health & dental Paid holidays & vacation Job evaluation Life & disability insurance Employee & Family Assistance Merit program Retirement benefits Leaves of absence & other benefits
Staff Salaries § All Staff positions are evaluated by specialists in HR to determine the applicable job grade § University Support Group (USG) – staff salary structure includes 21 distinct job grades § Each job grade has a salary range; job value is the midpoint of the range § Midpoints are aligned with the target market position (median) § Minimum pay is 80% of midpoint or job value, maximum is 120% § An employee’s pay position in the range at the time of hire is determined based on their skills and experience relative to the position § Depending on the position, the standard workweek is either 35, 37. 5 or 40 hours per week § Monthly payroll cycle applies – Staff employees are paid on the last Friday of each month 3 Pay Philosophy To pay competitive salaries within the limits of our financial situation
Staff Salaries (cont. ) § Annual performance appraisal system results in a rating – between 1 and 5 – for each Staff employee for each calendar year § Performance rating plus an employee’s pay position within the job grade is used to calculate merit pay increases each May 1 based on the USG structure § Current* Staff Salary Agreement includes increases to the USG structure: § 2. 15% effective May 1, 2020 § * The current agreement period is May 1, 2018 to April 30, 2021 4 Additional Information Policy 5 - Salary Administration plus Please visit the HR website Compensation section
Pension & Benefits § Participation in pension and benefits arrangements is mandatory with the following exceptions: § If a Staff employee is part-time, extended health & dental coverage can be waived with proof of alternate coverage § If a Staff employee is under age 35, participation in the pension plan is optional (required to join January 1 st following 35 th birthday) § A choice for new employees to consider is their desired level of life insurance § Beneficiary form for Life Insurance and either yellow Pension Application card or waiver must be signed with the original submitted to Human Resources 5
Healthcare Benefits • 100% UW paid coverage for full-time employees (prorated for part-time) & their eligible dependents (spouse and/or children) Extended Health • 80% prescription drug coverage; $7 dispensing fee • 80% up to $717 per year per practitioner maximum (e. g. physiotherapy, naturopath, etc. ) • 100% emergency out-of-country travel insurance • 100% UW paid coverage for full-time employees (prorated for part-time) & their eligible dependents (spouse and/or children) Dental • 95% basic services; $2, 328 per calendar year maximum • 50% major services; $3, 508 per calendar year maximum • 50% orthodontia; $3, 508 per lifetime maximum Enroll in Great-West Life’s Group. Net today https: //groupnet. greatwestlife. com Notes: coverage provided by Great-West Life; maxima listed above are current as of January 1, 2020 (subject to change each January 1 st); rates are typically adjusted each May 1 st 6
Life Insurance Benefits Basic Life • 1 times salary, premium 100% paid by UW • Additional choice: 2 and 3 times salary, 67% paid by UW • Medical evidence not required if application is made within 31 days of initial eligibility (up to max. of $600, 000) • Note: any life insurance premium paid by UW is a taxable benefit to the employee • Premium 100% paid by employees Optional Life • Medical evidence required • Employee coverage: 4 to 6 times salary • Spousal coverage: available up to $200, 000 Notes: insurance provided through Sun Life Financial; premium rates are typically adjusted each May 1 st 7
Disability Benefits Sick Leave • Provides salary continuance during absence required due to nonoccupational personal illness or injury • Medical verification required after 5 consecutive days of absence • Employees are required to track their absences in Workday Long Term Disability (LTD) • Premium 100% paid by employees; enables non-taxable benefit • 85% of net pre-LTD salary up to a maximum insured salary following adjudication (earliest date payable is expiry of sick leave) • Maximum benefit period: up to age 65 • Disability definition: 2 years own occupation; any occ. thereafter Notes: LTD is insured through Great-West Life; premium rates are typically adjusted each May 1 st 8
Retirement Benefits Pension Retiree Benefits Benefit Formula 1. 4% x FAE up to Avg. YMPE + 2. 0% x FAE above Avg. YMPE Total x Credited Service • Defined benefit (DB) registered pension plan (RPP) • Benefit is calculated by a formula using credited service and earnings (benefit is not based on contributions); indexation applies • Employee contributions are calculated based on earnings (contributions lower taxable income); UW contributions are made based on actuarial requirements • Transfer-in privilege available within first 6 months at UW • Provided to employees who retire with 10 or more years of continuous regular service and elect an immediate UW pension • Extended health benefit that matches the active employee plan; 100% paid by UW (prorated for part-time employees) • Flat life insurance benefit ($5, 700 effective January 1, 2020); premium paid by UW results in taxable benefit for retirees Employee Contributions 6. 25% on earnings up to YMPE 8. 95% on earnings between YMPE and 2 x YMPE 9. 95% on earnings above 2 x YMPE Regular lunch & learn sessions are hosted by HR’s Pension Team to explore the details of retirement benefits in greater depth Employees with questions are encouraged to contact the Pension Team at: pensions@uwaterloo. ca Note: Self-service online pension estimator is available through my. PENSIONinfo link on HR website 9
Wellness § UW supports work|life balance for employees and recognizes that time away from work is important for their wellness § Other leaves of absences, work arrangements, and professional development opportunities may be available based on employees’ circumstances 10
Paid Holidays & Vacation Paid Holidays • In addition to the 10 statutory and civic holidays applicable to Ontario, UW provides additional days that result in the campus being closed between Christmas and New Years – depending on the year, the impact is an additional 5 or 6 days of paid holidays Paid Vacation • Accrual methodology – earn vacation credits in each July to June period for use in the following July to June period • Length of service is used to determine entitlement to vacation credits (e. g. 3 weeks or 15 days of vacation for employees with 1 -3 years of completed service up to a maximum of 5 weeks for employees with 18 years of completed service) • Entitlement is prorated in an employee’s first year Note: As of January 1, 2019, employees need to request vacation time through Workday for manager approval 11 Additional Information Policy 38 – Paid Holidays Policy 6 –Vacation Staff plus please visit the HR website
Employee and Family Assistance Program (EFAP) Counselling • Short-term outcome based counselling services – 24 hours a day, 7 days a week, and 365 days a year • Access to confidential services are available in person, online, or by telephone Life Smart and Other Services • Life Smart Services - including topics such as preretirement planning, maternity leave readiness, relationship solutions • Wellness sessions are facilitated by Homewood Health throughout the year as organized by the EAP Committee • E-courses are available 12 Additional Information Policy 67 – Employee Assistance Program (EAP) plus please visit the EAP website
Leaves of Absence & Other Benefits Additional Information Leaves of Absence • Policies: leaves of absence (paid study leaves, unpaid leaves, self-funded leaves); reduced workload (temporary or to retirement) • Guidelines: emergency leave (UW provides greater than ESA requirements), bereavement leave, work from home (maximum 2 days per week) Other Benefits • Birth leave (6 weeks salary continuance) and maternity/parental leave EI top up (95% income continuance for 17 weeks) – 6 month waiting period and 6 month return to work clauses apply • Tuition benefit for employees (2 courses per term) and dependent children (50% discount) 13 Policy 39 – Leaves of Absence Policy 59 – Reduced Workload Policy 14 – Pregnancy, Maternity & Parental (including Adoption) Policy 4 & 24 Tuition plus please visit the Secretariat website for guidelines & please visit the HR website
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