A Quick Overview of Employee Benefits at USC
Benefits-eligible employees can choose from two types of medical plans: a preferred provider organization plan (PPO) or health maintenance organization (HMO). A collection of benefits known as Plan C is available to benefits-eligible employees who have primary medical coverage elsewhere. Health and Wellness programs also include vision care plans for eye exams and corrective lenses, dental plans, and fitness programs.
Under the USC Retirement Savings Program, you have many choices—from the percentage you will contribute to which company will invest your savings. The university encourages you to contribute 5% of your earnings so that you will receive the university's maximum 10% contribution. If you choose to contribute less, the university contribution also will be lower. If you choose to contribute nothing, the university will contribute 5%. You can build additional retirement income on your own through pretax contributions to the Supplemental Retirement Plan. Also, your employment at USC is covered by Social Security.
Retirees are eligible for membership in the USC Emeriti Center, the faculty or staff retirement associations, and participation in USC Senior Care, a supplemental plan to Medicare. At the discretion of the Board of Trustees, the university may offer a retiree health stipend to eligible retirees.
The university buys a basic amount of life insurance and accidental death and dismemberment insurance, which includes a travel assistance program, for benefits-eligible employees. If eligible, you can buy additional life insurance and accidental death and dismemberment insurance for yourself and your dependents. Other types of insurance are available to USC employees at group rates: long-term care, cancer expense protection, and auto and homeowner policies.
If your annual eligible income is $100,000 or more, you may have the opportunity to participate in an Insured Security Options Plan (ISOP). USC employees are covered by state-mandated disability, paid family leave insurance, workers' compensation and unemployment insurance.
Help owning a home is available through the USC Neighborhood Homeownership Program. Flexible spending accounts help you reduce your tax liability by setting aside money for eligible health care or dependent care expenses. You also can reduce your taxes by paying your parking via a salary reduction. The USC Credit Union and the Bank of America at Work™ program provide convenient and competitively priced loans, savings and checking accounts, and other services. Discounts on a wide variety of goods and services are available to USC employees.
The university helps benefits-eligible employees and their eligible dependents with educational costs at USC through Tuition Assistance Benefits and at other colleges and universities through the Tuition Exchange Scholarship Program. USC Professional Development offers extensive classes on work-related subjects. Continue your own education outside the classroom by enjoying the cultural life at USC.
The USC Center for Work and Family Life provides integrated services for USC employees and their families, which include counseling and a variety of programs and services targeted to help employees find and preserve a healthy work-life balance. The USC Child Care Center provides affordable, convenient, high-quality care for children of benefits-eligible faculty and staff. Centers are located adjacent to both the University Park and Health Sciences campuses.
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