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7% SPECIAL BENEFIT

 

Applies to: Certain salaried (exempt) benefits-eligible employees

Certain salaried (exempt) employees who are age 40 and older receive an additional 7% of their base salary from the College. This may be taken as taxable income, or, as is strongly encouraged by the College, it may be contributed to the employee's Supplemental Retirement Account (SRA).

 

Those eligible to receive this benefit include the following:

  • All faculty members; and
  • All staff in salaried positions as of June 30, 2010 who remain in a salaried position and who have already reached or will reach the age of 40 on or before December 31, 2015.

Last Updated: 12/6/16