Election Day Floating Holiday Reminder
The Governor and General Assembly have established Election Day, November 3, as a state holiday. Since this holiday occurs during the fall academic calendar, the university designated the Election Day holiday as a floating holiday.
The university granted 8.00 hours of recognition leave to all full-time classified staff and A&P Faculty to use at their discretion in its full 8.00 hour increment on or before Monday, December 21, 2020. Select the RL TAKEN option in MyMadison to use the leave with supervisor approval.
Questions may be directed to Reagan Neese, Leave Specialist.
Virginia Retirement System Member Benefit Profile (MBP)
The Virginia Retirement System Member Benefit Profile (MBP) is an annual benefit statement based on information reported to VRS as of June 30. The MBP provides you with account balance information, retirement eligibility and eligibility for other benefits such as group life insurance and the health insurance credit. To view your Member Benefit Profile, log in or create a secure myVRS account. Under the My History menu item, select Annual Statements.
The MBP can be a useful tool in determining if you are on target for your desired retirement date and income in retirement. Other tools available through VRS include the myVRS Benefit Estimator, which allows you to run different retirement benefit scenarios. In addition, use the myVRS Retirement Planner to set your income-replacement goal and enter expected income sources in retirement, including your VRS pension, Social Security, 403(b) and 457 contributions, and other savings. The planner also helps you project expenses in retirement, such as health care and taxes, and offers calculators and a budgeting worksheet.
Contact the Benefits Team at email@example.com or 540-568-3593 if you have any questions concerning your MBP.
Flexible Spending Account Deadline
If you were enrolled in a Flexible Spending Account (FSA) during last plan year (July 1, 2019 – June 30, 2020), you have until September 30 to file claims for covered services during that plan year. If there are any remaining funds in your account after September 30, these funds will be lost.
Our goal with the Benefits Broadcast is to feature a specific benefit each month. This month’s featured benefit is…
All employees eligible for benefits are covered with life insurance from the first day of employment. Your basic life insurance coverage is an employer-paid benefit; therefore you will see no deduction from your paycheck for basic group life insurance. For natural death, the benefit amount is equal to your compensation, rounded to the next highest thousand and then doubled. In the case of an accidental death, the benefit amount is double the natural death benefit.
The employer-paid basic life insurance policy also includes an accidental dismemberment benefit. For the accidental loss of one limb or the sight of one eye, your benefit is equal to your compensation rounded to the next highest thousand. For the accidental loss of two or more limbs, total loss of eyesight or the loss of one limb and one eye, your benefit is equal to your compensation rounded to the next highest thousand and then doubled.
The policy features a safety belt benefit which pays an additional amount equal to 10% of the accidental death or dismemberment benefit or $50,000, whichever is less, if you die or suffer dismemberment in an accident while driving or riding in a private passenger vehicle. In addition, if you die in an accident 75 miles or more from home, the policy will pay a repatriation benefit for the cost of transportation to return your remains to your home, up to $5,000.
Additionally, the basic group life insurance coverage provides additional benefits if you die or are dismembered as a result of a felonious assault while performing your job duties. The incident must have occurred at your normal place of business or while on work-related travel. No benefit is payable if the assaulter is an immediate family member. Felonious assault benefits include:
- $50,000 or 25% of the accidental death or dismemberment benefit, whichever is less.
- Virginia College Savings Plan account for each qualifying child if you die as a result of the assault. The amount is approximately equal to the average cost of four years of tuition and mandatory fees at a public college or university in Virginia. The child may attend any accredited college or university that participates in federal student financial aid programs.
If you are diagnosed with a terminal condition and have fewer than 12 months to live, you can withdraw some or all of your life insurance coverage to use for any purpose with the accelerated death benefit. Your beneficiary or survivor will receive any amount remaining in your coverage upon your death.
This basic life insurance policy continues when you retire at no cost; however, your coverage begins to reduce on January 1 following one calendar year of retirement. The reduction rate is 25% each January 1 until the coverage reaches 25% of the total life insurance benefit value at retirement.
In addition to the basic group life insurance coverage, you may elect optional group life insurance coverage for you, your spouse, and dependent children.
Optional group life insurance provides benefits for natural and accidental death or dismemberment, and the cost for the premium is an after-tax payroll deduction. You may purchase between 1-4 times your compensation, not to exceed $750,000, and your spouse is eligible for ½ the amount of the additional coverage, not to exceed $375,000. Children are covered at a flat rate of $10,000-$30,000, depending on which additional coverage option is elected. Proof of good health (evidence of insurability) is required in the following cases if: you apply for coverage for you, your spouse, or children after 31 days of your employment date; you wish to purchase more than $375,000 for yourself; you wish to increase your coverage; or, if your spouse’s insurance amount is more than ½ your salary.
Optional group life insurance coverage may be continued when you retire. You may opt to pay for two times additional coverage to the basic life insurance policy, and the amount begins to reduce 25% based on your age. This reduction begins with your normal retirement age, with coverage ending at age 80.
It is very important to keep your beneficiary designation up-to-date since VRS will pay benefits according to the latest beneficiary designation on record.
Please contact a Benefits Specialist or email firstname.lastname@example.org if you have any questions concerning your life insurance benefits.
Need More Zoom Help?
There are plenty of self-help resources available from:
You may also submit questions including any issues with Zoom integration with Canvas, through the IT Service Portal or by contacting the IT Help Desk at (540) 568-3555 or email@example.com.
JMU Talent Development
DISCOVER | GROW | SUCCEED
- LGBTQ101: Understanding Gender and Sexual Diversity (TD2056)
- Self-Awareness: Always Do Your Best (TDW805)
- Communication: W.A.I.T – Why Am I Talking? (Why Aren’t I Talking?) (TDW105)
- Social Media in the Workplace (TD2083)
- Team Building: Influencing Strategies (TDW605)
Visit Talent Development’s webpage for a listing of all they have to offer!
The Talent Development 2021 calendar will be released in early October.