Concord University
Employee Compensation, Benefits, and Perquisites
It pays to be a Mountain Lion!
Compensation
Salary and Wages
Concord University’s highly talented and committed faculty, staff, and administrators represent key strengths and a source of competitive advantage in higher education in the region. The university pays competitive salaries and wages to attract, retain, motivate, and reward the type of employees needed to fulfill the mission and goals of the University
In 2017, the University adopted and began implementing market-based compensation practices. These practices included analysis of faculty and staff compensation in similar sized institutions of higher education and developing competitive salary ranges for each position. This continuing initiative helps maintain external competitiveness and internal equity.
As a public agency, Concord University pays salary and wages bi-weekly and in arrears. Salary and wages are paid electronically to the financial institution of the employee’s choice. Salary payments for full-time faculty working 9 to 12 months are spread over 26 pay periods.
Annual Experience Increment Pay
Eligible employees with three or more full years of state service credit receive increment pay annually in the amount of $60 per year of qualifying service. The amount is paid in a lump sum in July of each year.
Industry Leading Employee Benefits
As an employee of Concord University, you will receive a wide array of benefits designed for you and, as applicable, your family. These benefits supplement your salary or wages and may be customized to meet your situation and needs.
Core Benefits for All Employees
All employees, whether full or part-time, receive the following automatic benefits:
Generous Retirement Plan Match and Vesting
TIAA is the benefit provider for the University’s retirement plans and participation in the automatic plan is required for all employees.
The automatic retirement plan is a 401(a) plan into which six (6) percent of the employee's total salary is automatically withheld pre-tax and deposited into the employee’s TIAA retirement account. The university matches the employees 6% contribution. Amounts paid by the employee and matching funds paid by the university are fully vested immediately. The employee may determine how the funds are invested.
Social Security and Medicare
Concord University withholds both Social Security and Medicare taxes from an employee’s wages, The deductions are matched by the University.
- FICA is the 6.2 percent Social Security tax;
- FUTA is the 1.45 percent Medicare tax (The law also requires you to pay the employer's portion of two of these taxes:
Workers' Compensation
The University works diligently to protect employees’ health and safety. Workers Compensation benefits are administered for the University by an independent provider.
Unemployment Compensation
The University pays the full cost of this benefit following disbursement by the state of West Virginia.
Other Key Benefits
A staff member regularly working at least 1040 hours annually on and faculty working 12 months are considered benefits-eligible.
Affordable Insurance Options
West Virginia Public Employees Group Health Insurance
Employees have a number of options for heath plans for health and medical coverage for themselves and eligible dependents, plus $10,000 basic life insurance for the employee. The employee and the University pay a portion of premiums for the medical coverage. The basic life insurance cost is paid by the University.
Optional Life and Accidental Death and Dismemberment Insurance
The University offers optional insurance coverage amounts available from $5,000 to $500,000 with two different options available for dependent coverage.
Disability Insurance
The University offers voluntary short-term and long term disability insurance coverage.
Long Term Disability: Long term disability insurance is available only upon employment. Premiums vary depending upon age and annual earnings. All employees are strongly encouraged to enroll in the long-term disability plan.
Short Term Disability. Although non-faculty employees have sick leave, all employees are urged to consider short-term disability insurance. Policy premiums vary depending on employee’s salary. Benefits become payable at the end of the 30-day benefit waiting period.
Mountaineer Flexible Benefits
This is an IRS approved, tax free account that saves money on eligible health, medical, dental, and dependent care expenses. There are a number of benefit options available including: Live Events Insurance, Dental Care, Vision Care, Hearing, Disability insurance (described above), Legal Plan, Medical Expense Flexible Spending Account, and Dependent Care Flexible Spending Account.
Paid and Unpaid Leave Benefits
- Holiday Leave – 13 -14 days of paid holiday leave annually
- Paid Annual Leave (graduated based upon years of service beginning at 1.25 days per month = 15 days annually); 2 days per month, which equals 24 days annually for all non-classified staff);
- Paid Sick Leave (staff members and faculty working 12 months earn 1.5 days per month);
- Faculty Sabbatical Leave
- Family Medical Leave (Federal) and Parental Leave (State)
- Military Leave
- Religious Holidays (In accordance with Federal Law)
Tuition and Fee Waivers
Professional development and education opportunities including tuition waiver program for employees, spouse and eligible dependents.
Additional Savings Plans
Supplemental Retirement
The University offers two supplemental retirement savings plans in addition to the regular retirement plan mentioned above. Contributions to the 457(b) or are made through employee contribution and are not matched by the University.
United States Savings Bond
Concord University participates in the payroll savings plan, which allows payroll deductions to purchase US Savings Bonds.
West Virginia State Employees Credit Union
Membership is available to all state employees. Deposits may be made through payroll deductions.
Perquisites
CU Fitness Center Membership
On-campus full service fitness center – free access
Walking trails; bike trails, walking track
Child Care
On-campus Early Childhood Development Center – low cost
Parking
On-campus parking – low cost ($50 per year)
Food Services
On-campus cafeteria and food court – meal plans available
University Library Privileges
Access to library resources both on and off campus via the internet
University Store
Access to text books, snacks, supplies, and college gear on-campus
University Post Office
Access to on-campus US post office with P.O. Boxes for rent and USPS mailing services
Employee Discounts
Employee Discounts are offered at the Cafeteria, University Bookstore, and for many campus programs and events.