On this page:
- LTD Benefit
- Important Considerations for Exempt (Salaried) Employees
- Important Considerations for Non-Exempt (Hourly) Employees
- Your Cost
- Helpful Links
The sudden loss of income if you become ill or injured and can’t work can be devastating to your finances. The Standard will pay 60 percent of your insured pre-disability earnings (reduced by deductible income from other sources such as Social Security or Workers’ Compensation) while on an approved disability following a six month waiting period if your claim is approved. The minimum monthly benefit is $100 and the maximum monthly benefit is $12,000. Because premiums are paid with after-tax dollars, if you receive benefits, they are generally nontaxable.
The LTD Plan complements the University’s Salary Continuation Plan (for eligible faculty and exempt employees, including some non-exempt employees eligible under transition rules) and Disability Plan (for eligible non-exempt employees), both of which cover the first six months of disability before the LTD Plan begins payment. This benefit is reduced by Social Security and certain other sources of income. The extra protection available through the voluntary LTD plan offered by The Standard can help you replace lost income in a time of need.
If you elect this coverage after 45 days of employment, you must complete a Medical History Statement [PDF] and be approved by The Standard before coverage will be added.
Important Considerations for Exempt Employees
Syracuse University currently provides long term disability benefits to exempt employees through its Salary Continuation Plan.
- For Salary Continuation Plan benefits to be paid beyond 12 months, you must, among other things, receive a Social Security Disability Award (SSDA) by the end of your first year of disability. It is important to note that it can be difficult to obtain an SSDA within the 12 month period.
- If you do not receive an SSDA and you are not able to return to work after one year of disability, you are no longer covered under any salary replacement plan from Syracuse University.
- If you do receive an SSDA before the end of your first year of disability, Syracuse University’s Salary Continuation Plan will pay 50 percent of your base annual salary minus your SSDA and certain other reductions. Generally, earnings from the Salary Continuation plan are completely taxable.
As an eligible exempt employee, if you are enrolled for coverage under the voluntary LTD Plan:
- You will begin receiving 60 percent of your pre-disability earnings after the six month waiting period (reduced by any deductible income and subject to Plan limitations). These earnings are generally nontaxable.
- The definition of disability does not rely on qualifying for a SSDA.
- Benefits under Syracuse University’s Salary Continuation Plan are reduced by benefits paid under the voluntary LTD plan.
Important Considerations for Non-Exempt (Hourly) Employees
Non-exempt employees are covered by New York State Statutory Benefits (if eligible, supplemented by Syracuse University) for short term periods of disability up to 26 weeks. If you are disabled and unable to work for longer than 6 months, any compensation will cease.
If you are enrolled in the voluntary LTD plan, you will begin receiving 60 percent of your pre-disability earnings after the six month waiting period (reduced by any deductible income and subject to plan limitations) if your claim for benefits is approved. Your benefit is generally nontaxable.
Monthly premiums for the voluntary LTD coverage are determined by multiplying monthly gross pay by the rates below and dividing by 100.
|Under age 30||$0.196|
|30 through 34||$0.235|
|35 through 39||$0.294|
|40 through 44||$0.431|
|45 through 49||$0.647|
|50 through 54||$0.941|
|55 through 59||$1.215|
|60 through 64||$1.264|
|65 through 69||$1.343|
|70 through 74||$1.735|
Rates listed here are based on the 12-month calendar year. Actual deductions from each paycheck will vary depending upon your deduction cycle.
For example, an employee age 43 with an annual gross pay of $40,000 would have a monthly premium of $14.37 ($40,000 / 12 * .431 / 100).
- Voluntary Group LTD Insurance Booklet [PDF]
- Medical History Statement for The Standard [PDF]
- Non-Exempt Disability Benefits
- Salary Continuation Plan
Every effort has been made to ensure that the information contained within this website is accurate. However, the benefits are governed by legal documents (which, in certain circumstances, may include insurance contracts). If there is any difference between the information in this website and the official documents, the official documents will control. As is the case with all of Syracuse University’s employee benefit plans, the University reserves the right to modify or terminate these benefits at any time.