MMFS Employee Benefits Guide 2022

ADDITIONAL BENEFITS

HEALTH & WELLNESS BENEFITS MMFS reimburses the costs for eligible health club memberships or wellness classes up to $400 per academic year for expenses incurred between September and May. Please refer to the employee policy manual for more information. RETIREMENT BENEFITS MMFS offers a retirement plan through TIAA. Under the plan, employees can make elective deferrals (contributions) and, when eligible, receive employer contributions.  Elective Deferrals : Employees may contribute to a pre-tax 403(b)retirement savings plan up to the maximum allowed by law. Eligible employees are able to participate in the plan on their first day of employment.  Employer Contributions: Upon eligibility, contributions vest immediately and are made based on the following schedule: • At the start of 3rd year of employment: 6% of an employee’s annual compensation • At the start of 8th year of employment: 8% of an employee’s annual compensation • At the start of 13th year and up of employment: 10% of an employee’s annual compensation PROFESSIONAL DEVELOPMENT & TUITION ASSISTANCE Eligible employees receive up to $300 annually in their first three years and $500 there after for professional development courses. The school offers two tuition assistance programs for eligible employees and their dependents after five continuous years of service; employees can earn up to $5,000 annually. LONGEVITY BONUS MMFS rewards employees for completing various milestones of employment. Each employee will receive a bonus at the end of the milestone year beginning in year five. PAID PARENTAL LEAVE Eligible employees receive up to 6 weeks of parental leave to bond with their child within 12 months of the child's birth, adoption, or foster placement. CITIBIKE MEMBERSHIP MMFS is making it easier to get to work by contributing to the cost of your Citi Bike Annual Membership. If you already have a Citi Bike membership, you should continue riding using your current membership. When you are ready to renew, eligible employees can take advantage of our discounted rate. Visit www.citibike.com/mmfs for more information. Detailed enrollment instructions can be found on the intranet.

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