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A message from the School of Medicine’s
Vice President Michael Good:
Faculty Benefits
We value your well-being. Discover the comprehensive benefits package we provide to our faculty members.
Plan for a secure future with our university-funded retirement accounts.
Faculty whose position lasts a minimum of 9 months and whose FTE is 50% or greater. If you enroll during your initial Enrollment Period (the first 90 days following the date you are hired into a benefit-eligible position.) coverage will begin retroactive to your date of hire. Health insurance premiums increase for faculty whose FTE is 50-74%. |
Retirement |
Defined Contribution plan, 100% vested from eligibility date. Employee directs contributions between two investment companies: Fidelity and TIAA-CREF. Fund management is employee responsibility. |
14.2 % of gross salary, up to current IRS maximum. No employee contribution. |
Health Plans |
Medical- Choice between 2 provider networks: -University Health Care Plus -BlueCross BlueShield Choice among 3 plan options An Employee Assistance Plan provides initial consultations for a variety of personal concerns, at no charge to the employee. This Plan also manages behavioral health benefits. |
Personal Payroll deductions vary depending on options chosen. See details through link on next page. Link: |
Group Life Insurance |
Basic Life up to $25,000 (mandatory) Several additional options for spouse and dependents |
No charge to employee for Basic Life. Additional options have some employee cost. |
Tuition Reduction |
Eligible for faculty .75 FTE and greater. 50% reduction on University of Utah base tuition |
Employee- after 6 months Spouse- after 1-year Dependents- after 3 years |
Holidays |
12 Holidays per year |
Employee also receives 2 “personal preference” day in addition to vacation/holiday. |
Vacation |
Faculty- 25 days per year, pro-rated to FTE. |
*Faculty .5-.74 FTE do not receive pro-rated vacation. |
Sick Leave |
Employees in positions at 75% or greater. |
Accrue 8 hours per month. |
Parental Leave |
Eligible faculty will receive up to 6 months of paid leave. Faculty will have the option to supplement remaining leave with sick and vacation time. https://regulations.utah.edu/health-sciences/8-002.php |
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Meeting Time |
Faculty- up to 25 days per year, can roll over up to 10. |
*pro-rated to FTE. |
Academic Days |
Goal of 1 day (or 2 half days) per 4 clinical service days, subject to clinical service needs. Pro-rated to FTE. |
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Professional Accounts |
Funds set aside for professional expenses related to University of Utah employment- e.g., meetings/travel, dues, books, publication costs. |
Faculty- $4,000 per year. Additional funds per year based on academic rank: $1,500 Assistant Professor $2,000 Associate Professor $2,500 Professor |
Computers |
Faculty- 1 PC or Mac. Personal computer expense that exceeds $1800 will come out of the professional fund unless otherwise approved by Department Chair. |
Supplemental Retirement |
Employee may choose to redirect gross salary to two tax deferred retirement plans. 403(b) employee and 457(b) |
2024 IRS max contribution limit= $23,000 (employees older than 50 may contribute an additional $7,500) |
Flexible Spending Account (FSA) |
Employee may choose to assign pre-tax dollars to flexible spending account to reimburse employee for eligible health care expenses. Funds must be used or will be lost. |
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Dependent Care (DCA) |
Employee may choose to assign pre-tax dollars to a dependent care account to reimburse employee for eligible child-care expenses. Funds must be used or will be lost. |
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Long Term Disability |
School of Medicine Physician Long Term Disability |
Payroll deduction- see details on website |
See additional options on website below |
LINKS TO UNIVERSITY OF UTAH EMPLOYEE BENEFIT INFORMATION ARE LOCATED AT http://www.hr.utah.edu/benefits/
Paid Nighthawk |
Paid Nighthawk- Mon-Fri. $250/hr. Clean up shift- $34 per wRVU.
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Call pay can be directed to your professional funds |
IR Call Pay |
Weeknight (not Friday)- $300 Friday- $500 Saturday- $1500 Sunday- $1500 |
Call pay can be directed to your professional funds |
Annual Faculty Bonus/Incentive |
Average annual metrics-based incentive for FY23 was $41k. Must provide 7-months’ notice in the event you resign to be eligible for bonus/incentive. Faculty must generate at least 4,000 wRVU to be eligible for the bonus portion of the total bonus/incentive. |