Quality, Variety and Peace of Mind
Benefits at the University of Michigan
In addition to a career filled with purpose and opportunity, The University of Michigan offers a comprehensive benefits package including:
- generous time-off
- a retirement plan that provides matching contributions with immediate vesting
- many choices for comprehensive medical insurance
- life insurance
- a long-term disability option
- as well as several other features that contribute to peace of mind.
(Full-time employees and part-time employees appointed to work at least 20 hours/week in a regular non-temporary position qualify for our benefits program. For comprehensive information about benefits for prospective employees, click here.)
Time Away from Work
Staff and faculty on the university’s three campuses receive a combination of a generous vacation package and sick time that generally is available for use immediately as it is accrued. Depending on the position and your length of service, 1, 1.5 or 2 paid vacation days are accrued each month. Staff in The University of Michigan Health System acquire more than 3 weeks paid time-off per year. Over time, the annual accrual grows to more than 6 weeks of paid time-off. (Terms may vary for staff covered by collective bargaining agreements.) Regular staff members also receive generous time off when absent due to extended illness or injury.
University Observed Holidays: New Year's Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day and the day after Thanksgiving, as well as Christmas Day. We also offer the flexibility to substitute holidays when needed or when the nature of your job requires work on a designated holiday.
The university offers Fidelity and TIAA-CREF retirement savings options. Employees can choose to use either or both for their 403(b) Basic Retirement Plan investments. Features of the U-M retirement savings plan include:
- Self-managed — You can meet with Fidelity Investments or TIAA-CREF financial advisors to manage your 403(b) as you see fit or manage your account(s) online.
- 2-for-1 Matching — With a 5 percent employee contribution after 12 months of eligible service, the university automatically contributes double that amount (10 percent of your salary). For example, an employee with a salary of $40,000 would designate $2,000 (5 percent) to the 403(b); the university would contribute $4,000 (10 percent) annually after 12-month waiting period.
- Immediate Vesting — The entirety of the university’s 10 percent contribution is added to the 403 (b) immediately and is the property of the employee.
- Supplemental Retirement Account — If you would like to invest more than 5 percent of your salary, you have the option of setting up a supplemental account for additional contributions (employer match doesn’t apply to supplemental accounts).
As an employee, you have immediate access to medical insurance and prescription drug coverage beginning on your first day of employment with no exclusions for pre-existing conditions. The university regularly reviews all plans to ensure quality and value.
Medical Insurance Options
The University of Michigan offers a choice among several plans and plan types including:
- Preferred Provider Organization (PPO)
- Health Maintenance Organizations (HMOs)
- Comprehensive Major Medical traditional plan
Coverage also is available for dependents who meet age and other guidelines.
The University of Michigan Dental Plan is administered through the Delta Dental PPO (Point of Service Plan). The Plan offers a choice of three coverage levels.
Vision coverage is offered to eligible staff through Davis Vision, a preferred provider organization (PPO). As a plan participant, you receive one eye examination and one pair of eyeglasses every year.
Prescription Drug Plan
All eligible participants in university medical insurance plans are automatically enrolled in the U-M Prescription Drug Plan, which covers most prescription drugs with a minimal co-pay and no deductible.
- Long-Term Disability
- Group Term Life Insurance
- Dependent Group Term Life Insurance
- Flexible Spending Accounts
- Group Legal Services
- Travel Accident Insurance
For comprehensive information about benefits, click here.