Disability coverage for ORP participants
Dear Colleagues:
I am pleased to share a significant enhancement to the long term disability coverage that VCU provides to participants in our Optional Retirement Plan (ORP). In keeping with the philosophy of our “Great Place” HR Redesign, VCU Human Resources has worked closely with the Vice President for Administration to ensure VCU provides a highly competitive protection benefit for ORP-participating faculty and University and Academic Professionals who become unable to work due to disability.
| Benefit | Previous | New |
| Income replacement | 60% of monthly salary up to $4,000 maximum benefit per month | 60% of monthly salary up to $20,000 maximum benefit per month |
| Waiting period | 180 days | 180 days |
| Monthly premium annuity benefit | ORP contributions continue during periods of approved disability:
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ORP contributions continue during periods of approved disability:
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Effective September 1, 2018, the maximum monthly income benefit increases from $4,000 to $20,000, making employees with salaries up to $400,000 eligible for the full 60 percent monthly income replacement. VCU continues to pay the full premium for this coverage. The Certificate of Coverage explains further details about eligibility for benefits and is available for review at: hr.vcu.edu/media/hr/documents/VCUORPLTDcert.pdf.
If you are an ORP participant with questions about this disability coverage, you may contact VCU Human Resources at (804) 878-0177 or benefits@vcu.edu.
All my best,
Cathleen C. Burke
Assistant Vice President for Human Resources
Virginia Commonwealth University
Categories Benefits