Compensation and Benefits
This section of the manual includes the policies relating to salary administration and benefits. Due to the amount of control and reporting that is required in administering compensation and benefits, it is necessary to use specific terminology as defined by insured contracts, Internal Revenue Service (IRS) regulations, and Employee Retirement Income Security Act (ERISA) guidelines. In addition, it is necessary to identify benefit eligibility by employee groups so that participation and plan limits may be monitored for compliance purposes.
The university acknowledges that the marketplace from which it recruits and competes for talent recognizes position and seniority as a factor in determining benefits. However, use of seniority for calculating benefits is not a reflection of the organization's respect for the contribution from all employees.
Therefore, for ease of comprehension and administration, the following terminology will apply in this section of the manual.
IV. Compensation and Benefits Contents