Long Term Disability Options
Management and Professional Staff
Choose one of the three options below for long term disability.
Option 1
Benefit Amount
55% of monthly earnings
Monthly Benefit Amount
$6,600
Monthly Maximum Insurable Earnings
$12,000
Maximum Benefit Period
To age 65
Cost of Living Adjustment
Not applicable
Termination
Earlier of retirement or age 65
Percentage Rate Applied to Monthly Earnings
1.285%
Option 2
Benefit Amount
66.7% of monthly earnings
Monthly Benefit Maximum
66.67% of monthly earnings
Monthly Maximum Insurable Earnings
$9,900
Maximum Benefit Period
To age 65
Cost of Living Adjustment
Included
Percentage Rate Applied to Monthly Earnings
1.477%
Termination
Earlier of retirement or age 65
Option 3
Benefit Amount
66.67% of the first $5,000 of monthly earnings plus 50% of the remainder
Monthly Benefit Maximum
$10,000
Monthly Maximum Insurable Earnings
$18,333
Maximum Benefit Period
To age 65
Cost of Living Adjustment
Not applicable
Termination
Earlier of retirement or age 65
Percentage Rate Applied to Monthly Earnings
1.501%
Maximum Benefit Period for Limited Term Employees is earlier of 2 years or age 65 for all Options. As such, the percentage rates for Limited Term Employees only are: Effective January 1, 2019: Option 1 - 0.452%, Option 2 - 0.500%, and Option 3 - 0.517%.
Select your desired Long Term Disability Option considering:
- The differences between Options,
- Your family’s financial needs,
- The cost of each Option,
- Your health status and the rules regarding medical evidence,
- Any Individual Disability coverage you may have,
- The level of benefit coverage you are comfortable with.
The Self-Service tool will calculate your Long Term Disability benefit amount and premium due based on your annual earnings and Flex Option selected. You will have the opportunity to consider different scenarios prior to submitting your choice.