Summary of Benefits

Group Health Insurance effective 6-1-2012:

The University has group health insurance through FirstHealth.  Participants use physicians approved by the plan.
Sign up period – no later than 30 days from date of employment or during open enrollment period in June.

PPO Plan:  $500.00 deductible medical plus co pays, prescriptions $100.00 deductible plus co-pays

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Retirement Plan:

To participate in the retirement plan, employees must contribute 1 % to 5% of their annual base salary to a 403(b) retirement plan; the University will then match then that percentage (1 % to 5%) contribution to the same plan.  Employees are immediately eligible.  The amount contributed by McMurry is vested three years after the employee’s date of benefit eligibility, for employees who have contributed to the retirement plan.  Employees have a wide choice of investment vehicles through the following companies:

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Term Life Insurance:

The University pays 100% of the premium for term life insurance in an amount equal to one year's salary (up to $50,000), which is carried through Reliance Standard Life Insurance Company.

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Group Long Term Disability:

The University pays 100% of the premium for long-term disability, which is carried through Reliance Standard Life Insurance Company.

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Other Insurance Plans:

Education Benefit for Employees and Dependents:

•    The immediate family members of full-time faculty, staff and administration are eligible for Education Benefits at McMurry University. Please check with the Financial Aid Office for the current benefit policy. Financial Aid Office, 793-4713 or on campus ext. 4713.

•    Tuition Exchange Co-Op:  Immediate family members of full-time faculty, staff, and administration are eligible to participate in the Tuition Exchange program with 100 member institutions across the United States. Please check with the Vice President for Academic Affairs office, 793-3807 or on campus ext. 3807. Certain restrictions apply.

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