As we approach the end of 2018, the Office of Human Resources would like to highlight some upcoming changes in benefits and compensation, including match increase and updates on the salary planning process.
403(b) Retirement Plan
There are several important updates to DePaul’s 403(b) retirement plan for 2019. Qualifying employees will be automatically enrolled in the automatic increase program.
Auto-escalation
DePaul’s 403(b) retirement plan will implement an automatic increase program in January 2019. The purpose of the program is to promote increased rates of saving among retirement savings participants. If you qualify for this program, it will automatically increase your savings rate in increments of 1 percent each January, until you reach 10 percent. You can opt out at any time before Dec. 31 by visiting the 403(b)
NetBenefits portal.
For details about the automatic increase program, visit the 403(b) home page and the News & Events page.
Match increase
Starting Jan. 1, 2019, DePaul’s 403(b) match contribution will increase from 9.5 percent to 10 percent. In order to receive this benefit, you must meet all match criteria:
- Saving at least 5 percent of your paycheck in DePaul’s 403(b) plan
- Be age 21 or older
- Have one year of service or more (including 1,000 hours worked or course load equivalent)
New resources for employees enrolled in BCBS medical plans
If you have a BCBS medical plan, 2019 will introduce two new programs designed to increase efficiency and effectiveness, and potentially help reduce some healthcare costs.
MD Live
Have you ever been sick and debated whether you need to see a doctor? Now for BCBS members in DePaul’s PPO and CDHP, there is a convenient resource for non-emergency illnesses and symptoms. Get guidance and talk to a healthcare professional without ever leaving your couch with MD Live.
MD Live highlights:
- Visit a medical doctor, counselor, psychiatrist or dermatologist by mobile app, video or phone
- Visits are convenient, private and secure
- Avoid the inconvenience and high costs of going to a doctor’s office
- Prescriptions sent directly to your local pharmacy
Airrosti
Are you dealing with any physical pain or discomfort? Airrosti is an in-network BCBS provider with convenient locations near the campus and Chicago suburbs. Airrosti works to address the root cause of pain and get you back to normal with minimal visits.
Airrosti offers “a safe and highly effective alternative to surgery, pain management, and long term chiropractic or physical therapy treatment programs. Airrosti’s safe, non-invasive treatment helps you rapidly recover from injuries or nagging pain that can keep you from doing what you love.”
Find out more about Airrosti and whether it can help you with pain and possibly provide an effective, more affordable treatment and recovery plan.
Salary planning and notifications
The annual salary planning process is underway and it is a great time to reiterate the guiding principles of DePaul’s compensation program. Those principles are:
- We value the collective work and contributions of all individual employees
- We evaluate our compensation against peers in our industry and marketplace
- We support a fair, equitable and consistent approach to compensation for all employees, and recognize individual results through the use of an annual merit review process based on performance and the achievement of goals
- We align the work of our employees to DePaul’s overall success and mission through the performance management program; individual goals are linked to the university’s strategic and operational goals
- We provide a competitive overall compensation package, including a competitive base salary, benefits programs for employees and their dependents, retirement savings opportunities and optional work/life programs
During the annual salary process, HR advises leaders and managers to base merit increases on employees’ performance throughout the year and their position in their respective salary grade/pay range. DePaul’s salary grades, along with all other information related to compensation administration, are available to employees at https://offices.depaul.edu/human-resources/compensation/Pages/default.aspx.
Employee salary increases will be effective on Jan. 1, 2019 and will be visible on the Jan. 4, 2019 paychecks. DePaul employees will be notified of their increases, including new annual or hourly rates, beginning in the first week of December up until the holiday break.