We are pleased to provide the following summary of health and welfare benefits to full-time and part-time (32 hours +/week) employees of Randolph-Macon Academy. Benefits may be subject to changes.
Medical insurance is provided by Cigna Healthcare. Coverage is available from a preferred national network of providers. Coverage is available for the employee and eligible dependents with premiums paid on a pre-tax basis. Randolph-Macon Academy pays for a percentage of the employee premium costs only. Enrollment is possible after hire, during our annual open enrollment, or upon a qualifying life or employment event.
Dental Insurance is provided through Delta Dental Premier. Covered expenses include Preventive, Basic and Major Services with premiums paid on a pre-tax basis. Enrollment is possible after hire, during our annual open enrollment, or upon a qualifying life or employment event.
Employees enrolled in the Cigna Healthcare Medical plan are automatically enrolled in a Vision Discount Program. To be eligible for discount eye exams, frames, lenses, contact lenses and more, members must use participating providers. The premium is included with the medical premium, and enrollment is possible after hire, during our annual open enrollment, or upon a qualifying life or employment event.
Flexible Spending Accounts/Dependent Care
Employees may enroll in our Flexible Spending Account (FSA) or our Dependent Care Account. Both plans are designed to allow pre-tax payroll deductions to help you plan for your expenses during the year in heath care or dependent care.
A life insurance benefit is provided at one times employee’s base salary with the premium paid 100% by the Academy. Optional life coverage up to five times the employee’s base salary is available. This group life coverage is provided by Prudential Insurance and covers Common Carrier and Accidental Death and Dismemberment protection as well. Enrollment is automatic and coverage is fully paid for one times employee’s base salary, optional coverage is fully paid by the employee on a pre-tax basis.
Spouse Life Insurance
Employees may enroll in spouse life insurance up to the lesser of 50% of employee's elected optional life coverage or $250,000. The premium is based on the employee's age and is totally employee paid.
Child Life Insurance
Employees may enroll in child life insurance in increments of $2,000 up to a maximum of $10,000. The premium is fully paid by the employee.
Valic Retirement Plan is offered and funded by Randolph-Macon Academy to all eligible employees. Participation begins on completion of one year of service in which the employee worked at least 32 hours per week. Participants become fully invested in their accrued benefit upon completion of three years of service.
Tax Deferred Annuity 403(b) Plan
Under Section 403(b) of the Internal Revenue Code, employees of educational institutions or tax-exempt organizations can set aside money for retirement on a pre-tax basis. The employee decides the amount of money to contribute to the program during each pay period, up to a determined maximum amount (the IRS sets an annual dollar limit). The amount the employee contributes is deducted from pay before federal, state and local income taxes are taken out.
With Randolph-Macon Academy's 403(b) program, the employee can select to invest in a choice of investment options through salary reduction contributions. Randolph-Macon Academy deducts contributions from pay, as elected by the employee, and forwards the money to VALIC, our designated investment company.
Randolph-Macon Academy provides sick day leave, funeral leave, military leave, personal days (2) per calendar year, and FMLA as authorized upon request.
Vacation and Holidays
Randolph-Macon Academy provides vacation to all eligible employees. A vacation schedule is available in our policy manual and differs with job positions. Faculty and Staff members who work directly with our students are provided time off in correlation with our academic calendar and student’s supervision needs. Holidays are provided to our full-time employees. We also may provide additional time off throughout the year, at the discretion of the President.
Randolph-Macon Academy encourages its staff to maintain membership in professional societies and associations, which directly relate to their professional disciplines, and will enhance their standing in the professional community. The annual due expense of professional membership will be reimbursed as authorized upon request.
Randolph-Macon Academy encourages its staff and faculty to continue with academic, vocational training and seminars to maintain knowledge that directly relates to their professional discipline, and will enhance job performance. R-MA will reimburse a portion of tuition or fees as authorized upon request.
Randolph-Macon Academy may provide housing at a reduced rent on a limited basis for those who need to reside on campus.
R-MA provides a safe and friendly workplace. We encourage participation by all employees for any special events, daily dining services, and any field trips. We encourage a diverse workforce and we value our students, customers, parents, and the community through all efforts of our actions.
This is a brief overview of the majority of our employee benefits and these may be subject to change upon annual review. More information on procedures or specifics about the plans can be provided from our Human Resources Department. R-MA is an EOE.