National Louis University Benefits Overview
Health Insurance Benefits
Medical Insurance and Prescription Drug Coverage – NLU offers the choice of a PPO plan for all employees as well as two HMO plans for Illinois employees. All three plans are administered by BlueCross BlueShield of Illinois and also include prescription drug coverage. Coverage is also available for an employees' spouse, domestic partner and/or dependents.
Dental Insurance – NLU offers a choice of two dental plans administered by MetLife, whose dental network includes more than 86,000 providers nationwide.
Vision Insurance – NLU offers vision insurance through Vision Service Plan. Benefits include eye exams, glasses and/or contact lenses every 12 months.
Health Care Reimbursement Account – Employees can elect to set aside up to $2,500 per plan year on a pre-tax basis for allowable eligible expenses, per IRS guidelines.
Dependent Care Reimbursement Account – Employees can elect to set aside up to $5,000 per plan year on a pre-tax basis for day care and other qualified expenses, per IRS guidelines.
Long-Term Disability (LTD) – Employees are provided with a basic LTD policy of 60% of their annual salary, up to $1,000 per month. In addition, employees may elect additional coverage of 66 2/3 percent of their annual salary, up to $7,500 per month.
Short-Term Disability – NLU offers voluntary short-term disability insurance to its full-time employees. Coverage may be elected that will pay 60 percent of an employee’s base salary, up to a benefit of $2,000 per month for up to 12 weeks.
Life Insurance – Employees are provided with a basic life insurance policy that is equal to their annual salary, to a maximum of $100,000. In addition, employees may elect supplemental life insurance in increments of $10,000 up to a maximum of $650,000. Coverage is also available for an employees’ spouse, domestic partner and/or dependents.
Accidental Death & Dismemberment (AD&D) – Employees are provided with a basic AD&D policy that is equal to their annual salary, to a maximum of $100,000. In addition, employees may elect supplemental AD&D coverage in increments of $10,000, up to a maximum of $250,000. Coverage is also available for an employees’ spouse, domestic partner and/or dependents.
Tuition Waivers – Employees are encouraged to pursue continuing education and degree programs. Eligibility for the tuition waiver program begins after six months of employment and extends to spouses, domestic partners, dependent children and non-dependent children. Certain tuition benefits are subject to taxation per IRS regulations.
Tuition Exchange Plans – NLU participates in two tuition exchange programs with hundreds of colleges and universities throughout the U.S. Participation is limited by the policy of the recipient school and/or certain employment requirements.
403(b) Retirement Annuity (RA) – Administered by TIAA-CREF, the RA is the matching portion of the 403(b) retirement plan. When an employee has achieved one year of service to the university or to another educational institution immediately preceding their employment at NLU, participants can elect to defer 4 percent of their gross salary on a pre-tax basis, and NLU will contribute an amount equal to 4 percent of an employee’s gross salary. Participants are immediately 100 percent vested in university contributions and have a choice of 26 investment elections.
403(b) Group Supplemental Retirement Annuity (GSRA) – Administered by TIAA-CREF, the GSRA is an unmatched, tax-deferred plan that employees can begin making pre-tax contributions to immediately upon hire. Participants have a choice of 26 investment elections.
Retiree Insurance Benefits – NLU employees who retire at or above age 65 with 10 years of continuous full-time employment have the option of continuing their health insurance coverage at the retiree’s expense through a Medicare supplemental plan.
Paid Time Off
Vacation Days – Full-time staff employees accrue 1.25 days of vacation per month, for a total of 15 days per year, until reaching their fifth anniversary, at which point they accrue 1.67 days per month, for a total of 20 days per year.
Sick Days – Full-time staff employees accrue 0.83 sick days per month, for a total of 10 days per year. Employees are permitted to carry over their unused sick time each year, up to a maximum of 90 days.
University Holidays – NLU recognizes nine paid holidays per year: New Year’s Day, Martin Luther King Jr. Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the day after Thanksgiving, Christmas Eve and Christmas Day.