This benefits overview page is intended as a general description of the benefit plans and programs available to Colorado School of Mines employees. The amount and availability of benefits are governed by one or more of the following: plan documents for each plan, state statute, state personnel rules, or Mines policies and procedures. Any conflict between the content of this overview shall be governed by applicable plan documents, statutes, rules, policies and procedures. Colorado School of Mines reserves the right to modify, suspend or terminate these benefits at any time to the extent permitted by law. This information does not constitute an agreement of employment or guarantee any particular benefit.
As a Mines employee, you are eligible to participate in a wide range of benefits. Many benefits are the same among all employment classifications, but some depend on the type of position you hold and percentage of full time.
Summary of Benefits
Mines does not participate in the Social Security program. In lieu of Social Security, most non-student employees must enroll in either the Mines Defined Contribution Plan (MDCP) or the Colorado Public Employees Retirement Association (PERA). Each plan has specific eligibility requirements.
FACULTY MEMBERS (Academic, Administrative, Research, Library, and Athletics)
Mines Defined Contribution Plan (MDCP):
Most new faculty members hired January 1, 2017 and later qualify for enrollment in the Mines Defined Contribution Plan (MDCP). Employees and Mines will both make fixed contributions to the plan. Employees have a variety of independent investment options to choose from. Recordkeeping services and free financial advising are provided through VALIC Financial Services. (Click to see MDCP SPD Summary)
New Mines faculty members hired January 1, 2017 and later may elect enrollment in the Colorado PERA Defined Benefit Plan in lieu of the MDCP if they have a least one year of Colorado PERA Defined Benefit Plan service credit. Mines faculty members hired before January 1, 2017, who did not make an MDCP election during the special 2017 election period are also Colorado PERA members. For more information please see the Colorado PERA website.
Link to Colorado PERA: (www.copera.org)
UPCOMING PERA CHANGES:
State of Colorado classified staff are provided two options for their retirement plan:
Defined Benefit Plan
Defined Contribution Plan
PERA choice sign up form is available at the Controller’s Office, located on the 2nd floor of Guggenheim Hall.
Employees have 60 days to choose or they will be defaulted to the Defined Benefit Plan.
Link to Colorado PERA (www.copera.org)
VOLUNTARY RETIREMENT PLANS
For employees looking to save additional money for retirement, Mines offers several plan options. Participation in these plans is voluntary and employees can enroll, change contribution amounts, or end participation at any time.
Mines 403(b) Plan
The Mines 403(b) plan offers investment in a variety of independent mutual funds, as well as, a self-directed brokerage option. The plan offers both a traditional pre-tax account and a Roth Option. Services including free financial advising are provided through VALIC Financial Services. For more information please contact the Mines Benefits Office or Contact Robert Gorski at Valic (information below).
- Valic Retirement Services: Robert Gorski
This program is open to employees regardless of eligibility to participate in the PERA Defined Benefit Plan. The PERAPlus program offers both 401(k) plan and 457 plan options. Both traditional pre-tax and Roth options are available. For more information please see the PERAPlus website at
Link to PERAPlus: (Click here)
In addition to contacting a vendor for enrollment, employees need to notify Payroll in order to start, makes changes to, or stop payroll deductions. The Tax Sheltered Annuity TSA Deduction Form (download here) should be submitted directly to Payroll for processing.
DISCOUNTS AND SERVICES
CollegeInvest is a not-for-profit State of Colorado agency. Advantages of participating in the CollegeInvest 529 Plan include:
- Contributions are deductible on your Colorado State Income Tax Return
- Earnings grow federal and state tax free
- A variety of investment choices are available including a FDIC insured account
- Set-up monthly contributions via Mines direct deposit
- No restrictions on who can contribute, the number of accounts or beneficiary
More information is available on CollegeInvest’s website.
Colorado State Employee Assistance Program: Services & Training
C-SEAP provides a multitude of services to state employees. You can find more information by checking out their website.
C-SEAP webinars are open to all employees though some information may seem more relevant to managers, supervisors, and HR staff. Webinars are free-of-charge, available on a first-come first-served basis, and some may be provided as an on-site presentation.
Please visit their website to register for webinars and find other tools/resources including information about workplace traumas or critical incidents, reasonable suspicion, and descriptions of CSEAP services
BENEFITS FOR ELIGIBLE EMPLOYEES
BRIGHT HORIZONS CARE ADVANTAGE
Full-time benefit eligible Mines faculty and staff have access to subsidized, low-cost, child, adult, and elder care through Bright Horizons Care Advantage® This program offers high-quality care when your regular family care arrangements fall through. Simply register and when you need care either request care online, through the app, or 24/7 by calling the Bright Horizons contact center. The program also offers self-serve resources to arrange ongoing childcare, babysitters, elder care and pet care.
Colorado School of Mines observes 12 holidays. Mines observes an alternate holiday schedule, which generally provides employees time off between Christmas and New Year’s, as well as other holidays throughout the year.
See more information on paid holidays by checking out the Mines Holiday Calendar.
LEAVE SHARING BANK PROGRAM
Any employee of the Colorado School of Mines with at least one year of service is eligible to participate in the Leave Sharing Bank Program.
Employees may donate annual leave to be used by a qualifying employee experiencing a catastrophic medical hardship, either personally or by an immediate family member, in order to provide some income protection when the employee would be absent from work for a prolonged period of time and has exhausted all annual and sick leave. For more information please contact the Benefits Manager at extension 3052.
Employee Tuition Waiver
Colorado School of Mines employees may apply to take one 3.0 credit hour class per semester, up to a total of 6.0 credits per academic year, and have tuition and fees waived for those courses other than a technology fee associated with course registration. Courses may be taken for credit or not-for-credit (audit). To take classes, the employee must apply as a Non-Degree Seeking student and note the class he or she wishes to register for on the application.
Feel free to find more information on the Registrar’s Office website regarding Employee Tuition Waivers.
MINES DEPENDENT TUITION REDUCTION BENEFIT
Dependents of eligible employees may attend Colorado School of Mines at a reduced tuition rate. The amount of the tuition reduction under this benefit is up to 50 percent of in-state tuition. In compliance with I.R.S. rules, the benefit applies to undergraduates only.
2018 Mines Wellness Fair
Looking for more information regarding this year’s wellness fair? Click here to find out more!