Disability Benefits

Group Long-Term Disability

Should a lasting disability occur, the University's Long-Term Disability Plan provides income for as long as the disability continues or until the employee is eligible for retirement benefits. The University's long-term disability insurer has the right to review medical records and to assess whether the disability designation should continue.

Eligibility

Benefit-eligible employees are automatically enrolled in this plan after one year of qualifying employment. The one-year waiting period may be waived for employees who meet the following criteria:

• Had group LTD coverage for at least 12 consecutive months prior to employment with W&L.
• The coverage ended no more than 90 days before starting employment with W&L.
• Employees must notify HR of their previous coverage within 30 days of their employment start date.

Cost

The University pays the entire cost of employees' participation in this plan.

When Payments Begin

If approved by the University's long-term disability insurer, long-term disability payments begin after 180 days of disability as that term is defined in the University's Long-Term Disability Plan.

Amount of Benefit Payments

The Plan assures a monthly income benefit equal to 60% of the employee's pre-disability pay by supplementing disability income, if any, from Social Security or workers' compensation up to this 60% combined total (with a maximum monthly amount of $7,000). This benefit is taxable unless an employee chooses, upon enrollment, to pay taxes on the premium instead.

This income payment may continue to age 65, or to somewhat later if disabled after age 60.

If an employee is receiving University contributions to their defined contribution retirement plan before the onset of their disability, the University's long-term disability insurer will, from the date long-term disability benefits begin, contribute 10% of the employee's monthly salary (based on salary prior to the date of disability) to the account, up to a monthly maximum of $1,167, until disability income payments end. Therefore, when the income benefit ends, an annuity payment can begin. This assures the employee of a lifetime income.

Cost-of-Living Increases

The monthly income benefit payable under this plan is automatically increased by 3% annually. Social Security has traditionally increased its disability payments annually, and future increases in an individual's Social Security payments do not reduce the benefits payable under this plan.

Personal Income Protection

Washington and Lee University offers full-time benefit-eligible employees the option to purchase Personal Income Protection benefits through MetLife to provide more comprehensive coverage in the event of a disability. This plan protects a portion of an individual's base salary and is portable should the employee leave W&L. Benefits are tax-free when they are received.