Short-Term Disability Benefits
Employees will be enrolled the first of the month following date of hire. Employees will receive 60% of base biweekly earnings. The benefits will begin on the first day of disability, if caused by an accident (not work related), and the 8th day of disability if caused by a sickness. Disability benefits may continue for a maximum of 90 days (with required physician documentation).
Weekly Benefit Amount
60% of your weekly base earnings to a maximum benefit of $2,500 per week. The weekly benefit may be reduced or offset by other sources of income.
Elimination Period
Your elimination period is 0 days for a disability due to an accident or injury and 7 days for disabilities due to illness. This is the number of days that must pass after a covered accident or illness before you can begin to receive benefits.
Please note that maternity is not covered under this plan because Victory Capital Management provides a full 12 week maternity benefit.
Definition of Disability:
- You are considered disabled when Unum determines that, due to sickness or injury:
- You are limited from performing the material and substantial duties of your regular occupation and you are not working; and
- You are working but you have lost 20% or more in weekly earnings.
- You must be under the regular care of a physician in order to be considered disabled. The loss of a professional or occupational license or certification does not, in itself, constitute disability.
Duration of Benefits
Your STD benefits are payable for the period during which you continue to meet the definition of disability. Your short term disability benefit could be paid for up to 13 weeks.
Resources
Long-Term Disability Benefits
Employees will be enrolled the first of the month following date of hire. Employees will receive 60% of total monthly earnings. Employees have the option to make an annual irrevocable election to “gross up” the LTD premiums and receive the benefit tax-free.
Monthly Benefit Amount
60% of your monthly earnings to a maximum benefit of $15,750 per month. The monthly benefit may be reduced or offset by other sources of income.
Elimination Period
Your elimination period is 90 days. This is the number of days that must pass after a covered accident or illness before you can begin to receive benefits.
Definition of Disability:
- You are disabled when Unum determines that: You are limited from performing the material and substantial duties of your regular occupation due to sickness or injury and are not working; or
- You have a 20% or more loss of indexed monthly earnings while working
- You must be under the regular care of a physician in order to be considered disabled. The loss of a professional or occupational license or certification does not, in itself, constitute disability.
Duration of Benefits
The duration of your benefit payments is based on your age when your disability occurs. Your LTD benefits are payable for the period during which you continue to meet the definition of disability. If your disability occurs before age 62, benefits could be payable up to the Social Security Normal Retirement Age. If your disability occurs at or after age 62, your benefits would be paid according to the benefit duration schedule.
