Employee Benefits

IMSA’s Comprehensive Employment Benefits

As a state-funded institution, employment benefits are provided by the State of Illinois. Our fiscal year for employment benefits runs from July 1 – June 30. The State Universities Retirement System of Illinois (SURS) provides retirement benefits. The package offers:

Prescription medication coverage is provided through the health plan’s Prescription Benefit Manager. Benefits include reasonable co-pays, pharmacy options, and a maintenance medication mail service.

State employees can save money by taking advantage of several pre-tax programs. Options include flexible spending accounts (FSA), commuter savings program. ConnectYourCare provides services for medical and dependent care flexible spending programs. Commuter Check Direct provides services for the commuter savings program.

The State of Illinois provides one times an employee’s annualized salary in term life insurance at no cost to the employee. Employees can purchase, at reasonable rates, an additional eight times their annualized salary and dependent and spousal insurance—services provided by MetLife.

The behavioral health benefit can be used to diagnose and treat mental health and substance abuse disorders. The Employee Assistance Program (EAP) services are available to all employees and dependents enrolled in one of IMSA’s major medical plans. EAP benefits are provided through ComPsych.

State University Retirement System (SURS) administers IMSA’s retirement plan. Employees have several options, including traditional, portable, and self-managed plans. SURS is reciprocal with other state retirement systems such as TRS and IMRF.

Full-time and part-time (less than .50 FTE) 12-month employees are eligible to receive paid time off in the form of vacation, sick, and personal time. Full-time and part-time (less than .50 FTE) 10-month employees can receive sick and personal time. The Academy also recognizes several holidays.

Whether you are just starting out or have been working many years, the 403(b) Plan, 457b Plan, or Roth 457b Plan can be an excellent way to help you build up your retirement savings. It offers the convenience of automatic payroll deductions and gives you the ability to save with pre-tax dollars—that means your contributions and any investment earnings can be tax-deferred until withdrawn.