Company Profile
University of Delaware
Company Overview
The University of Delaware exists to cultivate learning, develop knowledge and foster the free exchange of ideas. State-assisted yet privately governed, the University has a strong tradition of distinguished scholarship, research, teaching and service that is grounded in a commitment to increasing and disseminating scientific, humanistic and social knowledge for the benefit of the larger society. The University of Delaware is a land-grant, sea-grant and space-grant university.
The University of Delaware embodies its motto—“Knowledge is the light of the mind”—and to spread that light requires a community that nurtures intellectual curiosity and free inquiry, where everyone is empowered to learn and to flourish. This is a community where we celebrate our individual and collective achievements, where we respect diverse backgrounds, values and viewpoints.
Company History
One of the oldest universities in the U.S., the University of Delaware traces its roots to 1743 when a petition by the Presbytery of Lewes expressing the need for an educated clergy led the Rev. Dr. Francis Alison to open a school in New London, Pennsylvania.
Alison's first class was "possibly the most distinguished in terms of the later achievements of its members, taken as a whole, of any class in any school in America," wrote historian John Munroe.
Those first students would go on to become statesmen, doctors, merchants and scholars. Thomas McKean, George Read and James Smith signed the Declaration of Independence, and Read also signed the U.S. Constitution.
By 1765, Alison's school relocated to Newark. NewArk College opened as a degree-granting institution in 1834 and was renamed Delaware College in 1843. In 1867, the college was designated one of the nation's historic Land Grant colleges.
A women's college opened in 1914 with 58 students, and in 1921, the two colleges joined to become the University of Delaware.
Since 1950, UD has quadrupled its enrollment and greatly expanded its faculty and academics and its influence in the world.
In 2009, the University purchased a 272-acre parcel of land adjacent to the Newark campus that previously had been a Chrysler Plant. That site, now the Science, Technology and Advanced Research (STAR) Campus, is home to the University's Health Sciences Complex and is being developed as a space combining business, research, education and more.
Benefits
Contributions
For full-time faculty and staff employees, the University’s health plan coverage contribution ranges from 86.75% to 96% of the total premium, depending on the plan and coverage tier. The University also pays the cost of “employee-only” vision, full cost of dental coverage, standard long-term disability, and life insurance equal to two times base annual salary.
Medical / Prescription
The University offers several medical plans to meet the needs of you and your family. Plans offered include Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Consumer Directed Health (CDH) through our health vendors, Highmark Delaware and Aetna. The University contributes an average of 91% of the cost of health premiums for full-time faculty and staff employees. If you elect any of the University’s health plans, you are automatically enrolled in prescription drug coverage through Express Scripts.
Dental
The University provides dental insurance to full-time employees and their families. Dental insurances is administered through MetLife Insurance Company. The University pays the entire cost of the premium for full-time benefited and their enrolled dependents.
Vision
The University provides a comprehensive vision plan to full-time employees and their families that can include eye examinations, frames/lenses or contact lenses and other vision related expenses. The University pays the full premium towards employee-only coverage, and dependents can be added at an additional group-rate coat.
Basic Life Insurance / Accidental Death and Dismemberment
The University offers group term life insurance to full-time employees administered by MetLife Insurance Company. Full-time faculty and staff employees may choose one of three University-paid Basic Life options: $10,000; $50,000; or 2 times base annual salary up to a maximum of $1,000,000.
Voluntary Life
Full-time faculty and staff employees are also eligible to purchase additional Optional Life insurance in addition to the Basic coverage offered. Employees may elect up to five times their base salary with a maximum of $1,000,000.
Dependent Life
The University also provides Optional Life Insurance coverage to spouses and dependent children up to age 26. For spouses, elected coverage can be $10,000 to $150,000 in $10,000 increments. For dependent children, coverage can be elected at $5,000 or $10,000.
Long Term Disability
Full-time benefited employees are automatically enrolled for long term disability coverage. The University pays the full premium for the standard option of long term disability. Long-term disability pays a benefit of up to 60% of earnings with a maximum monthly benefit of $10,000. Employees may elect to purchase the high plan. The high plan pays a benefit of up to 66 2/3 of earnings with a maximum monthly benefit of $15,000.
Flexible Spending Account (FSA)
The University offers full-time faculty and staff employees the option to set aside pre-tax dollars to pay for certain health or dependent care expenses through a Flexible Spending Account (FSA) administered through ASIFlex. Employees may elect a health care savings account and/or a dependent care account.
Retirement Plans
University 403(b) Retirement Plan for faculty and exempt staff: The University offers a 403(b) retirement plan available through TIAA and Fidelity investments. The University offers a generous matching contribution.
State Pension Plan for non-exempt staff: Non-exempt staff participate in the State of Delaware.
Tuition Benefits
The University offers a variety of employee education assistance programs to full-time University employees, spouses, and eligible dependent children.
Other Voluntary Benefits
The University offers a variety of optional benefit plans to meet the needs of employees and their families. Other voluntary benefits include: Accident and Critical Illness Insurance, Commuter Benefit Plan, Home Purchase Assistance Program, Neighborhood Mortgage Assistance Program, Automobile and Homeowner Insurance, Banking Services, Long-Term Care Insurance, 529 College Savings Plan.
Paid Time Off Benefits
The University offers generous paid time off benefits to full time, 12-month employees including vacation, sick, and holidays.
Vacation: Employees accrue vacation days at a rate of 1.83 days per month (22 days per year) based on a 37.5 hour workweek.
Sick: Employees accrue sick days at a rate of 1.5 days per month (18 days per year) based on a 37.5 hour workweek.
Holidays: The University observes the following holidays:
New Year’s Day
Martin Luther King Day
Memorial Day
Independence Day
Labor Day
General Election Day (even numbered years)
Thanksgiving Day
Friday following Thanksgiving Day
December Holiday Break (determined annually)