Salary Payments
Retirement Plan
Tax Deferred Annuities and Custodial Accounts
Financial Planning Reimbursement Program
Estate Guidance
Life Insurance
Voluntary Group Term Life Insurance
Federal Social Security
Health Insurance
Group Dental Insurance
Long-Term Disability Insurance
Travel (or Non-Travel) Accident Insurance
Workers' Compensation
Flexible Benefits Program
Employee Assistance Program
College Expenses for Children of Faculty Members Employed on or after September 1, 1974
Tuition for Faculty Spouses or Domestic Partners
Inclusion of Domestic Partners in the College Benefit Program

Salary Payments

1. Faculty salaries are based on the academic year from September to June, and payments are made in twelve equal installments on the last day of each month beginning on September 30, through a direct deposit in the faculty member's designated bank(s). A faculty member will be advised in writing of any prospective change in salary.
2. A faculty member on a full-time appointment at Carleton is expected to devote full time to teaching, scholarly activity, and related duties while the College is in session. It is assumed that the faculty member's professional development and contributions to his/her field will involve occasional off-campus activities such as attendance at professional meetings, lecturing, performing, consulting, or research.
3. In addition to specified salary payments, the College provides numerous collateral benefits, as described below, which constitute part of the total compensation of faculty members. Any faculty member at Carleton who normally carries at least a one-half time teaching load for at least two terms of the academic year is eligible for benefits on a prorated basis. If a one-term sabbatical is combined with two terms of unpaid leave within a given academic year, the College will continue to pay its share of fringe benefit costs for the sabbatical term only; the faculty member will be allowed to continue some benefits during terms of leave without pay by paying the total benefit costs. Questions concerning salary payments or collateral benefits may be discussed with the College's Human Resources Office. Changes may occur which would amend, modify, or delete portions of the benefit package at any time. Complete descriptions of the benefits are not possible in this publication. Details of various plans are available in the College's Office of Human Resources.

Retirement Plan

The College makes Retirement Plan contributions for eligible employees to the Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA-CREF) and allows eligible employees to invest discretionary salary reduction contributions in tax deferred annuities and custodial accounts.

The Terms of the Carleton College TIAA-CREF Plan (herein-after sometimes referred to as the "Plan") are as follows:

1. Eligibility
   Subject to the provisions set forth hereafter, participation in the Plan shall begin on the first of the month following the first month of employment. If the employment date occurs on the first working day of the month, the benefit becomes effective immediately and shall be based on the following:
   1. An active employee who meets all of the following requirements is required to participate in the Plan and must submit an application to the Office of Human Resources:
      1. He or she is ordinarily scheduled to work 1) not less than 20 hours per week or the academic instructional equivalent and not less than 9 months in a pension plan year or 2) not less than 1,000 hours in a pension plan year. Notwithstanding the foregoing, an active employee will be treated as having satisfied this requirement if such employee worked 1,000 hours in the one-year period commencing with the individual's employment date or in any pension plan year.
      2. Eligibility of employees in a collective bargaining unit to participate in the Plan shall be subject to negotiations with the representative of that unit. During any period that an employee is covered by the provisions of a collective bargaining agreement between the College and such representative, he or she shall not be eligible for participation in this Plan unless the agreement expressly so provides. For purposes of this section only, such an agreement shall be deemed to continue after its formal expiration during collective bargaining negotiations pending the execution of a new agreement.
   2. Any employee who is participating in a shared appointment and who meets requirements 1 and 2 of subparagraph A must participate in the Plan and submit an application to the Office of Human Resources.
   3. For accounting and reporting purposes, the pension plan year shall be the calendar year.
2. Plan Contributions

   1. Faculty members contribute 2% of their salary and the College contributes an additional 10% for a total contribution of 12% of salary to the Retirement Plan.

      Notwithstanding the preceding, the contribution on behalf of any participant cannot exceed the amounts permitted under IR Code 403(b)(12).

   2. Each participant shall make a contribution of not less than 2% of his or her salary to the Plan as follows:
      1. Each participant must enter into an agreement with the College to reduce his or her salary by an amount equal to 2% for purposes of such contribution. Reduced amounts are tax deferred until benefits are paid out.
      2. In addition, each participant may, but is not required to do so, enter into an agreement with the College to make additional contributions for the purpose of acquiring additional benefits to reduce his or her annual compensation by a specified dollar amount not in excess of the amount permitted as a reduction under section 403(b) of the Internal Revenue Code, which for 2010 is $16,500.  The total does not include the 2% as referred to in 1 above.
      3. Participants over the age of 50 may defer an additional $5,500 (or a total of $22,000 for 2010) unless the further excess amount is expressly permitted by the Code.  For participants with 15 years of service or more at Carleton College, an additional catch up contribution of $3,000 is possible.  Please contact human resources for specifics.  However, any such contribution may not be in excess of the amount permitted under Section 415 of the Internal Revenue Code.
   3. For purposes of this Article II, "salary" means base salary excluding overtime, bonuses, summer and other supplementary pay. In accordance with IRS Code 401(a) (17), salary taken into account under the plan cannot exceed $245,000 (in 2010, as indexed per IRS Code 4l5(d)).

   4. The College shall forward the combined contributions to TIAA-CREF for the purpose of retirement benefits for the participants as follows:

      At the election of the participant, any split of such combined contribution will be applied as a premium for a TIAA retirement annuity certificate and/or a CREF certificate. Contributions to TIAA may be designated to the Regular Annuity, Real Estate Account, Lifecycle Funds or Mutual Funds. Contributions to CREF may be designated to the following funds: Stock, Money Market, Social Choice, Bond Market, Global Equities, Equity Index, Growth, and/or Inflation-Linked Bond Account.

   5. At the election of each TIAA-CREF participant, funds acccumulated under the Plan may be transferred a) among the Plan's approved CREF accounts and TIAA Real Estate Account; b) to the TIAA Retirement Annuity; or c) from the TIAA Retirement Annuity in substantially equal payments over a ten-year period.
   6. No contribution will be made under the Plan with respect to any payments made in connection with an agreement by a faculty member to terminate employment.
3. Leaves of Absence
   During a leave of absence, contributions made by the College and by the individual will be based on the compensation paid to a participant during such time.
4. Contracts
   Each TIAA retirement annuity contract and CREF certificate issued in accordance with Section II of the Plan is for the sole purpose of providing a retirement and/or death benefit and is the property of the individual participant.
5. Spouses' Rights
   Benefits may only be paid for married participants in the Plan under a qualified joint and survivor annuity or qualified pre-retirement survivor annuity meeting the requirements of the Retirement Equity Act of 1984, unless a written waiver of the benefit by the employee and a written consent to the waiver by the spouse is filed with TIAA-CREF. This provision applies to Repurchase, Retirement Benefits, and Death Benefits.
6. Cash Withdrawal
   A participant who has attained age 55 may receive a cash withdrawal as permitted by the funding vehicle. Cash withdrawals may not be received while the participant is employed at Carleton College.  Amounts paid to the participant on cash withdrawal shall be in full satisfaction of the participant's, and his or her spouse's, rights to retirement and/or death benefits attributable to such amounts paid out.  A participant electing such a cash withdrawal should review tax consequences of the action with a TIAA-CREF representative and/or personal tax adviser prior to the transaction.

7. Annuity Income
   Although annuity income usually begins on the normal retirement date, faculty may begin to receive income from the plan at any time, which may be earlier or later than the normal retirement date. However, if a faculty member is employed by the College on the date when benefits under the plan commence, he or she will cease to be a participant of the plan and no further contributions will be made on his or her behalf.

   Retirement benefits must normally begin no later than the calendar year in which the age of 70 1/2 is reached unless still employed by Carleton College. Failure to begin annuity income by the required beginning date may subject a faculty member to a substantial federal tax penalty. If still employed at Carleton College after age 70 1/2, a participating faculty member must begin distributions following termination of employment.

8. Amendment
   While it is expected that the TIAA-CREF Pension Plan will continue indefinitely, Carleton College reserves the right to modify or discontinue it at any time.

9. Administrator, Named Fiduciary, Pension Committee
   Carleton College shall be considered the "named fiduciary" and "administrator" of the Plan for purposes of the Employee Retirement Income Security Act of 1974. For purposes of administering the Plan, the Executive Committee of Carleton College may appoint a Pension Committee of three persons. In the event of any difference between this summary and the official Plan document, the latter will apply and govern in all cases.

10. Effective Date
    The effective date of this retirement plan shall be September 1, 1970. The plan is amended and restated as of July 1, 2009.

Tax Deferred Annuities and Custodial Accounts

1. Description
   Carleton College offers a Group Supplemental Tax-Deferred Annuity plan in addition to its regular retirement plan. Also for those employees who might prefer to use "403(b)7's" as a means of tax deferral, the College processes 403(b)7 custodial accounts (available in the form of "mutual funds"). Through a properly drawn salary reduction agreement with the College, employees may reduce the portion of compensation which is currently subject to taxes, and contribute that amount toward the purchase of one of these tax-deferred investment options.

   There is a limit to the amount of tax-deferred contribution the College can make on an employee's behalf, called the "exclusion allowance." There is an exact computation process which establishes the absolute maximum available to an employee for any given year. The Office of Human Resources will provide instructions for obtaining this important calculation from TIAA-CREF.

2. Administration
   The vice president and treasurer is authorized to act on behalf of the College in connection with these annuities and custodial accounts and to establish such rules and regulations as deemed appropriate for them.
3. Regulatory Requirements
   The College's activities shall be limited to those permitted in Labor Department Regulation 25010.3-2(f) such that this program will not be deemed to be a pension plan maintained by the College and will not result in additional reporting obligations for the College.
4. Effective Date
   The effective date of this program was September 1, 1992.

Financial Planning Reimbursement Program

The College has been fortunate over the last several years to offer its employees numerous opportunities to enhance their ability to make informed decisions regarding financial planning concepts. Such opportunities have included a comprehensive financial planning program series, individual counseling sessions with financial planners from the College's retirement plan provider, and a library of relevant resources.

Carleton College is pleased to have a program designed to encourage additional long-range financial planning for all non-union employees. A reimbursement is available to defray the costs associated with long-term financial planning advice provided by a certified financial planner, accountant, attorney or other financial planning professional.

Eligible employees are regular employees who work half-time or more for six continuous years OR are tenured OR have reached the age of 50 with one year of service.

Reimbursements up to $300 per employee are available. Reimbursements up to $150 will be available after an eligible employee has attained six continuous years of service or is tenured. An additional $150 will be available when the employee has reached age 50 for a total reimbursement of $300. For those employees 50 years or older with one year of service, the total of $300 is immediately available.

Eligible employees may apply for reimbursement by completing an application and presenting to the Office of Human Resources a paid receipt from the recognized financial adviser for costs associated with long-term financial planning advice. The Office of Human Resources will authorize payment and forward the information to payroll for processing. Costs associated with product transactions should be identified separately and are not eligible for reimbursement under this program. Reimbursement amounts are considered taxable income, will be paid through payroll, and will be shown as "supplemental pay" on the employees' earnings statements.

Estate Guidance

A will is an important legal document that helps protect your family's future.  The College's current provider, The Hartford, provides a service called EstateGuidance that creates a simple legal will quickly and conveniently online, with the support of licensed attorneys, if needed.  Should you be interested in this benefit, please contact the Office of Human Resources for access information.  This service is free of charge to you as long as you begin and end the process within 30 days.

Life Insurance

All full-time faculty members are covered under a group life insurance plan which is paid for by the College. The amount of insurance provided is calculated by taking the individual's annual salary, age as of January 1 and applying the age multiplier listed below:

AGE	MULTIPLIER
Less than 50	3.5
50 through 64	2.0
65 or over	1.0

The amount of insurance paid is rounded to the next higher $1,000 multiple and will not exceed $250,000 in any case.

Voluntary Group Term Life Insurance

In addition to the life insurance benefit provided by the College, benefit-eligible faculty members may elect to purchase voluntary group term life insurance.  The cost to the faculty member is based on age and the benefit amount chosen.  All premiums are paid by the employee on an after-tax basis.  Full benefit information is available in the Office of Human Resources.

Federal Social Security

All members of the faculty are required to participate in the federal Social Security program. For this purpose monthly deductions from salary payments and contributions by the College are made according to the prescribed tax schedules. Federal Social Security benefits, including survivor's insurance, are in addition to those provided by the College through the retirement plan and group insurance coverage.

Health Insurance

Health coverage is effective the first of the month following the first month of employment.  If the employment date occurs on the first working day of the month, benefits become effective immediately.  Employee-only, employee plus one, or family coverage is available. Participation in the plan is voluntary. The plan allows for same sex and opposite sex domestic partner coverage.

AWARE Preferred Provider Organization (PPO). This option offers coverage through a large network of health care providers. Preventative care is covered at 100%, and eligible services are covered at 80%.  Office visits require a $35 co-pay. Preventive care is covered at 100%. Prescription drugs require a $15 co-pay for generic drugs, a $35 co-pay for brand name formulary drugs, or a $55 co-pay for non-formulary brand name drugs. Coverage is available with non-network provicers, but higher out-of-pocket costs and other restrictions can be expected.

Options Blue (Aware). This is a high deductible option offering preventative and catastrophic coverage with an employer-funded health reimbursement account (HRA).  This plan also offers a large network of providers.  Preventive care is covered at 100% to a maximum of $500.  Routine cancer screenings are covered at 100%.  Prescription drugs require a $15 co-pay for generic drugs, a $35 co-pay for brand name formulary drugs, or a $55 co-pay for non-formulary brand name drugs.  Coverage is available with non-network providers, but higher out-of-pocket costs and other restrictions can be expected.

Accord HRA. This is a high deductible option offering preventative and catastrophic coverage with an employer-funded health reimbursement account (HRA).  This plan also offers a large network of providers, however differs slightly from the Options Blue Aware network (Mayo Clinic and Hazelton are not in network).  Preventive care is covered at 100% to a maximum of $500.  Routine cancer screenings are covered at 100%.  Prescription drugs require a $15 co-pay for generic drugs, a $35 co-pay for brand name formulary drugs, or a $55 co-pay for non-formulary brand name drugs.  Coverage is available with non-network providers, but higher out-of-pocket costs and other restrictions can be expected.

Plan availability, plan design, and premium rates for coverage levels are established on an annual basis.  The premium is shared by the College and the employee.  There is an annual contract renewal period each year during which participants may change plan options.  "Off-cycle" enrollments are not guaranteed and are available only under specific circumstances.  Information regarding the Carleton group health insurance plan may be obtained from the Office of Human Resources.

Group Dental Insurance

The College offers a voluntary dental program through Delta Dental to all regular, benefit-eligible employees.  Employees have a choice of two plans:  value and comprehensive.  Employees pay 100% of the cost of the premium for all plans regardless of the level of coverage chosen.  Participation in dental coverage is voluntary, and premiums are taken as a pre-tax deduction.  Benefits are effective the first of the month following the first month of employment.  If the employment date occurs on the first working day of the month, benefits become effective immediately.  New employees have 30 days from the date of employment to enroll in this dental coverage.  If the 30-day period has elapsed, the employee will be considered a late entrant and may be subject to pre-existing conditions.  Delta Dental recognizes same sex domestic partners only.  A change in options may be made once every year during the open enrollment process unless you experience a qualifying event.  Open enrollment is offered on an annual basis.

Long-Term Disability Insurance

Disability insurance is available to eligible faculty members. The program, in combination with Social Security and/or Worker 's Compensation, will provide a disabled participant 60% of salary up to $10,000 per month beginning with the fourth month of disability. This benefit coordinates with benefits from other sources such as Social Security.

The College contributes approximately one-half of the total cost of premiums for long-term disability insurance against the interruption of income because of long-term total disability. Benefits for participants begin after three consecutive months of total disability and continue during such disability as follows:

Age at start of disability	Benefits Payable
Prior to age 60	to age 65
60 -64	5 years
65 - 68	to age 70
69 and older	1 year

Benefit-eligible faculty members are entitled to enter this program effective the first of the month following the first month of employment.  If the employment date occurs on the first working day of the month, benefits become effective immediately.

Travel (or Non-Travel) Accident Insurance

College-Provided Travel Accident Insurance: Employees of the College who are full-time or part-time (working 17.5 hours per week) are covered under an Associated Colleges of the Midwest Travel, Accidental Death, and Dismemberment policy when in a business travel status for the College.  The benefit amount under this program is equal to two (2) times base annual salary, subject to a minimum of $50,000 and a maximum of $300,000.  The benefits are paid to the group life insurance beneficiary in the event of death. 

Travel Assistance Program: The Hartford offers benefit-eligible employees a travel assistance benefit with several unique services including visa, passport, and inoculation and immunization requirements; travel advisories; foreign exchange rates; embassy and consulate referrals; medical referrals (referrals to medical providers worldwide); medical evacuation; and many more.  Service is available 24 hours a day, seven days per week.

Voluntary Travel/Non-Travel Accident Insurance: The College offers a voluntary plan of group accidental death and dismemberment insurance, which covers both occupational and non-occupational accidents.  This insurance is available to regular benefit-eligible employees.  This is 24-hour protection designed to cover not only travel accidents but other kinds of accidents as well (with certain standard exclusions) whether or not the employee is on College busienss.  The cost of this protection is based on the benefit amount selected for either the employee-only plan or the family plan.  This insurance is available in amounts ranging from $50,000 to $500,000 in increments of $25,000.  The premium is payable on a monthly basis through payroll deduction. 

Further details and applications can be obtained from the Office of Human Resources.

Workers' Compensation

The College carries Workers' Compensation insurance to reimburse medical expenses and to continue salary in the event of occupational illness or accident incurred in the course of employment. Faculty members should immediately notify Human Resources of any such injury. The law requires that a report of injury be filed immediately with the insurance carrier.

Flexible Benefits Program

All eligible employees of the College may voluntarily participate in the Flexible Benefits Program. The program allows eligible faculty members to establish a reimbursement account for dependent care and/or out-of-pocket health care expenses. Since the accounts are funded by pre-tax salary dollars, the employee realizes an immediate tax savings on these expenses. Full program details are available from the Office of Human Resources.

Employee Assistance Program

Because personal and family problems can have just as negative an effect as physical illness on a person's job performance, Carleton College provides an Employee Assistance Program. The program is entirely confidential and provides professional counseling and referral services to the employee, their dependents, and all household members.

Short-term services prepaid by the College include confidential in-person assessment and short-term counseling by local professionals for any issue that causes concern.  Some of the areas of support include legal consultation services, financial consultation services, budget and debt consultation services, work/life referrals, new parent transition, and online resources.  If further treatment is advisable, the costs will be the employee's responsibility; however, those costs may be at least partially covered by health insurance. Employees, their dependents, and all household members can call toll free (1-800-828-6025) for routine and urgent issues.  Master's level counselors are available to take your call 24 hours a day, seven days a week.  An Employee Assistance Program counselor is also available to assist faculty members, managers, employees, or family members who may be concerned about a person but are unsure of what to do.  Anyone may suggest to a Carleton employee or family member that he or she seek help through the program. 

Further details can be found on the Office of Human Resources Web site. 

College Expenses for Children of Faculty Members Employed on or after September 1, 1974

1. Eligibility
   1. Carleton College extends tuition benefits to faculty and exempt staff whose employment began on or after September 1, 1974. This benefit will be limited to children of tenured faculty and exempt staff with six years of continuous employment at Carleton. The following provisions also apply.
   2. The benefit is limited to the legal children of eligible faculty and staff.
   3. The benefit is limited to children attending accredited undergraduate colleges or universities.
   4. The benefit will not exceed four regular academic years per child and a maximum of twelve regular academic years per eligible member of the faculty or staff.
   5. Eligibility is limited to students of 26 years of age or less as of September 1 in any given year.
   6. The benefit may not be used for expenses in summer school, special programs, or other special fees.
   7. Any child may receive only one benefit under this policy even if both parents fall in the eligible category.
   8. The benefit will be continued for children of deceased faculty and staff who were eligible at the time of their death, subject to the other conditions on this benefit and financial need.
   9. For part-time employees who are employed at least half-time and who meet the other conditions of eligibility, the benefit will be based on the employee's current FTE.
2. Benefit
   1. At Carleton: one half of Carleton's tuition.
   2. At fully accredited colleges and universities other than Carleton:
      1. Either: 50 percent of tuition up to a maximum of 33 percent of Carleton's tuition.
      2. Or: payment of guarantee fee and loan interest on a loan equal to 70 percent of tuition up to 33 percent of Carleton's tuition while the child is a full-time undergraduate student. The subsidy would continue whenever eligible siblings are full-time undergraduate students.

Tuition benefit payments will be made directly to the institution the student attends. Contact the Office of Human Resources for policy and tuition reimbursement process information.

1. Effective Date
   This benefit is effective beginning with the 1990-91 academic year.

Tuition for Faculty Spouses or Domestic Partners

The College will waive tuition charges for faculty spouses or domestic partners who enroll as special students for one course per academic term at Carleton. All special students register for courses through the Office of the Registrar. Please refer to the Special Student section in the Academic Regulations and Procedures handbook.

Inclusion of Domestic Partners in the College Benefit Program

Domestic partners of eligible faculty members may participate in many of the college's benefit plans. For purposes of this program, a domestic partner is an unrelated partner of either sex whose emotional and financial relationship to the employee is roughly equivalent to that of a spouse.  Please contact the Office of Human Resources for further information.