Faculty members and senior administrators participating in the Optional Retirement Plan are ineligible for the new Liberty Mutual plan because they have a supplemental disability plan available through the Teachers Insurance Annuity Association, or TIAA.
Those employees in the ORP have the same basic disability coverage as employees in the state retirement system, said Nora Robbins, senior director of Human Resource Services. They, like employees in the state retirement system, are covered by the state's Disability Income Plan, or DIP.
Whether DIP's coverage is sufficient should be considered carefully by all employees, including faculty and senior administrators, she said. The state DIP plan provides good basic coverage, she said, but it may not be enough for every employee, especially given the salary cap.
New faculty members choosing the ORP can sign up for the TIAA plan within the first 31 days of employment, no matter what ORP carrier is chosen. This "open" enrollment allows them to get the insurance without providing a medical history, but there are exclusionary clauses.
Faculty members can apply for it after that, but they will have to furnish evidence of insurability that is satisfactory to the TIAA.
Faculty and senior administrators or their spouses wanting more information about the TIAA plan can call Benefits at 2-3071 or ask for a brochure by calling the benefits request line 558-5050.
To the UNC Home Page