The Office of Human Resources has announced changes to the University-paid basic life insurance coverage for all full time faculty and staff. For members of the Teamsters Local 8 bargaining unit, existing HR 54 will continue to govern their negotiated life insurance program.
Effective Jan. 1, 2016, the University-paid basic life insurance benefit will be significantly increased for all full-time faculty and staff, with the exception of members of the Teamsters Local 8 bargaining unit.
University-paid basic life insurance coverage through Prudential will increase from $5,000 to $50,000 at no cost to the employee. This is an overwhelmingly positive change for employees, and as always, those enrolled in employee paid optional life insurance coverage have the ability to increase their coverage amount by one times salary each November during Open Enrollment.
Additional details are available at http://ohr.psu.edu/benefits/insurance/life.
Questions about these changes can be directed to benefits@psu.edu or 814-865-1473.