Employee Handbook
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Scroll to: Flexible Spending Accounts | Insurance Coverage After Termination | Retirement Plan | Disability | Life Insurance | Unemployment | ORCA Card
Benefits
Group Health Plans
Medical, dental and vision insurance are available through SIBCR's group benefit plans. Beginning the first day of the month following hire date, eligible employees can elect to participate in the Institute's medical, dental and vision insurance program. Eligibility for participation in SIBCR's group benefit plans is based on a normal schedule of 20 hours or more per week, expected to continue for one year or more. There will be a designated deduction for health insurance as the employee contribution. Human Resources may be contacted for more information. Coverage for dependents will be paid 75% by SIBCR and 25% by the covered employee. The employee’s signature on the enrollment forms constitutes authorization for any payroll deduction. Cost breakdowns for insurance premiums are available from the SIBCR office.
SIBCR intends to continue its group benefit plans indefinitely, but reserves the right to amend or even discontinue all or some of them at any time, subject to applicable laws and regulations. If a plan is terminated and not replaced with comparable benefits, participants will be notified. Please remember that actual benefits provided, as well as eligibility requirements, are determined by the plan documents. For information on these, consult the applicable benefits booklet or contact Human Resources.
Section 125 Plan
SIBCR has a Premium Only Plan, which allows its employees to pay for portions of the Group Insurance Premiums with pre-tax dollars.
If an employee enrolls dependents, his or her portion of the Group Insurance Premiums will be deducted through Payroll. SIBCR will automatically code the deduction to take advantage of the Premium Only Plan, and the deduction will be reflected in the employee’s first paycheck. If an employee does not wish to take advantage of this plan he or she will have until the end of his or her first month of employment to submit a waiver form to SIBCR.
Flexible Spending Accounts for Dependent Care and Medical Expenses
SIBCR offers Flexible Spending Accounts (FSAs) which give employees significant tax advantages in that they can pay for medical, dental, vision, and child care expenses on a pretax basis. These accounts save employees money on Federal Income taxes and Social Security taxes.
FSA programs allow employees to set aside a certain amount of pre-tax dollars through payroll deductions. The deducted funds go into a health-care spending account and/or a dependent-care account, allowing employees to pay for child care expenses for children under the age of 13. Daycare for disabled adults can also be covered under the dependent care program.
The maximum annual amount of deduction for the Health FSA is $3,000 and the maximum for the Daycare FSA is $5,000. An employee can contribute anything from $120 per year ($10/month) up to the maximum. These programs start every year on October 1 or six months after employment for new hires.
Once enrolled in the FSA, an employee is not allowed (by the IRS) to make corrections to the contributions agreed upon for payroll deductions unless there is a change in status for the current year. Employees should be conservative in estimating expenses. Any money not used within the year will not be returned to the employee. Employees should contact Human Resources if they would like to know if circumstances qualify as a change in status.
Insurance Coverage after Termination
Under the COBRA regulations, upon termination from SIBCR for any reason other than gross misconduct, an employee may elect to continue group medical, dental and vision coverage at group rates as long as the employee pays the required monthly premium. It is also possible to convert other group plans to individual plans. More detailed information is provided in the COBRA Information Memo given to employees with the benefit plans information packet at the beginning of benefit eligibility. Details on the conversion of any benefits will be sent to each employee by mail at the time of his or her separation. The employee may, of course, request information on this subject at any time prior to actual termination.
Retirement Plan
Eligibility requirements for participation in the Teachers Insurance and Annuity Association, College Retirement Equities Fund (TIAA-CREF) Group Retirement Annuity (GRA) plan are discussed in the Summary Plan Description, which is available on the SIBCR website (www.sibcr.org) or in the SIBCR office. Generally, eligibility is based on a regular full- or part-time appointment expected to exceed 1,000 hours per year. The employee may participate in the retirement plan at the beginning of the seventh month of employment, at which time he or she will automatically be enrolled in the GRA plan. The employee will be enrolled in the plan the first pay period following the completion of his or her six-month waiting period. Employees transferring to SIBCR from the University of Washington, VA Puget Sound Health Care System or 501(c)(3) institutions can satisfy the waiting period with service at the prior institution.
When an eligible employee is enrolled in the retirement plan, an amount equal to 5% of his or her gross monthly wages or salary will be paid by SIBCR into the plan each month. The employee can choose to contribute up to 2.5% of his or her gross pay to the plan and that amount will be matched by SIBCR. The maximum combined amount contributed by the employer and employee to the retirement plan is therefore equal to 10% of the gross monthly pay (2.5% employee pay reduction plus 7.5% SIBCR contribution and match). A signed wage and salary reduction plan is required for employee contributions and the SIBCR match. This reduction plan must be submitted to SIBCR in the month prior to the effective date of the requested change.
Because TIAA-CREF is the administrator of the GRA plan, it is funded through the TIAA-CREF money market account. An employee may choose among other investment options with TIAA-CREF, and SIBCR recommends diversification of funds. The employee will receive an introduction letter with more detailed information from TIAA-CREF once a contribution has been made to the plan. He or she will also receive an Enrollment/Designation of Beneficiary form at this time. In the event that he or she does not select a beneficiary, his or her beneficiary will default to his or her estate.
Any employee may participate in a tax-deferred annuity plan: the TIAA-CREF Supplemental Retirement Annuity (SRA) plan. The SRA plan is strictly an employee contribution, and no employer contribution is made. The SRA plan does not have a waiting period.
Disability Insurance
Short- and long-term disability polices are provided to employees working at least 30 hours per week on an appointment expected to last one year or longer. Disability insurance premiums are paid by SIBCR.
Life Insurance
Each employee working at least 30 hours per week is insured for $50,000 worth of group term life and accidental death and dismemberment (AD&D) insurance. Premiums for this insurance are paid by SIBCR.
In addition, SIBCR offers voluntary life insurance benefits for employees who work 20 hours a week or more. For this insurance, the premium will be paid by the employee who may purchase from $20,000 to $300,000 of life insurance for self coverage, not to exceed five times the annual salary. Coverage may also be purchased for a spouse and children. Full details are available from Human Resources.
Unemployment and Workers’ Compensation Insurance
SIBCR pays a tax based on employee wages to Washington State’s Workers Compensation and Unemployment Compensation Systems (WCUCS). Eligibility for such benefits is determined by the State or, in some cases, by designated administrators applying applicable law.
It is the employee’s right and responsibility to file a claim for a determination under the WCUCS. SIBCR will not retaliate against any employee for filing a workers’ compensation claim (regardless of whether the claim is granted) or for participating in a workers’ compensation proceeding.
ORCA Card
SIBCR offers ORCA Cards to eligible employees. This benefit program provides unlimited, free-of-charge use of transit buses or trains and subsidizes vanpool/vanshare/vanlink costs. Any SIBCR employee with an appointment that is expected to last 6 months or more are eligible for this benefit.
Free use of the following transit service: King County Metro Transit, Community Transit, Everett Transit, Kitsap Transit, Pierce Transit and Sound Transit. ORCA gives an unlimited number of rides, at any time, in all zones. This applies only to regularly scheduled services and routes.
Subsidized vanpool/vanshare/vanlink: Up to 100% subsidy on participating transit agencies.
Home Free Guarantee: For eligible employees who commute by ORCA and miss their ride home (e.g., having to work late unexpectedly, an emergency requiring you to leave early), ORCA covers up to 8 taxi trips yearly (excluding tips, maximum 60 miles one-way). Home Free rides must be pre-approved by the SIBCR office. For more information on please see 
PDF.
ORCA Business Cardholder Rules of Use Agreement PDF