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.
Summary of Benefits
BENEFITS INCLUSIVE OF ALL MINES EMPLOYEES
Effective January 1, 2017
Newly Hired Faculty Members
(Academic, Administrative, Research, Library, and Athletics)
Effective January 1, 2017, Mines is implementing a new retirement plan for most newly-hired faculty members, the Mines Defined Contribution Plan. Employees and Mines will both make a fixed contribution to the plan. Contributions will be allocated to individual employee accounts and employees will direct their own investments. Employees will have a variety of investment options from which to choose. The plan is Mines’substitute for Social Security.
Current Colorado Public Employees Retirement Association (PERA)
All Non-Student Employment
PERA is currently Mines’ substitute for Social Security for all non-student employees. All Colorado School of Mines employees, regardless of employment classification, are PERA Defined Benefit Plan members.
DISCOUNTS AND SERVICES
BENEFITS FOR ELIGIBLE EMPLOYEES
VOLUNTARY RETIREMENT PLANS
Voluntary Retirement Plans
Current 403(b) vendors are:
contact: Jonathan Hume, 303-995-2661
Valic Retirement Services
In addition to contacting a vendor for enrollment, employees need to notify Payroll of enrollment or changes to retirement plans. The Tax Sheltered Annuity Enrollment/Change Form can be submitted directly to Payroll for processing.
Mines 403(b) Transition:
BRIGHT HORIZONS CARE ADVANTAGE
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.
The State of Colorado establishes 11 holidays for all government institutions. Rules provide for agencies to adopt an alternative holiday schedule. Mines observes an alternative holiday schedule, which generally provides employees time off between Christmas and New Year’s, as well as other holidays throughout the year.
LEAVE SHARING BANK PROGRAM
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.
MINES DEPENDENT TUITION REDUCTION BENEFIT
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.