Fringe Benefits

Research Support
Health, Disability, and Life Insurance
Retirement
Family
Housing

Benefit Summary for New Full-Time Faculty
updated August 2008 

Research Support

Faculty Grants
May apply to the Faculty Grants Committee for funds for support of research or creative activities.

Sabbatical Leaves (tenure-track)
For Assistant Professors prior to receiving tenure, a half-year sabbatical at full salary for their first leave. Thereafter, year-long sabbatical leaves at 80% of base salary after six years of teaching; one-semester sabbatical leaves at 80% after three years of teaching; or one-semester sabbatical leaves at full salary after six years of teaching. Faculty fellowships to supplement sabbatical pay are awarded on a competitive basis each year by the Faculty Grants Committee.

Leaves of Absence Without Salary (tenure-track)
May be arranged through consultation with Department Chair and the Dean.

Travel Allowances
$1000 per year to attend professional meetings; $1500 per year if presenting a paper or otherwise on the program.

Computer Loan Program
The College provides an office computer. For a personal machine, faculty may finance between two-thirds and all of the purchase price of the equipment and software, depending on the cost of the system, with a minimum loan amount of $500 and a maximum loan amount of $2,500, without interest for 24 months. May not extend past employment term. Available once every four years.

Health, Disability, and Life Insurance 

Medical and Dental Insurance
A choice of health care programs: Point-of-Service, PPO and HMO (currently Blue Cross/Blue Shield and Tufts). Dental coverage offered through Delta Dental. Current costs and other information on these programs is available online at http://www.mtholyoke.edu/offices/hr/benefits/

Coverage for Major Disabilities
Full salary for the first six months; after that (if enrolled in the Long Term Disability Plan) a monthly income benefit is provided; 40% of your basic monthly earnings, to a maximum monthly benefit of $6,666. Other options available for purchase. Benefits would begin after 180 consecutive days of disability.

Group Life Insurance, Accidental Death Insurance and Dismemberment
Base plan provided by the College. Equal to one times annual salary with a minimum of $15,000 to a maximum of $25,000. Additional coverage available.

Flexible Spending Accounts
Two accounts available: Health Care and Dependent Care.

Retirement

Retirement Annuity Plan
Defined contribution plan. Faculty are eligible for participation immediately if appointed for more than one year, or on the first anniversary of eligible employment, or if bringing TIAA-CREF contracts from another institution. Required contribution 5% of base salary over $2,083 a month ($25,000 in a calendar year). The College contribution is 10.5% of regular base annual salary. Additional voluntary employee contributions are possible.

Family

Maternity, Paternity, and Adoptive Leave
Options: Semester leave with half pay; a reduced teaching load with corresponding reduction in pay; or a combination of up to eight weeks of paid leave and unpaid leave during the semester in which delivery or legal adoption is expected or in the semester immediately following. Unpaid leave may be arranged for paternity and legal adoption but not to exceed one year.

Child Care
Child care facilities for infants through school-age children are available next to
campus at the Gorse Children's Center At StonyBrook.  The center is administered by Bright Horizons and gives admission preference to children of the MHC community.  For rates and policies, phone 413-533-9819.

Tuition for Faculty Children (tenure-track)
Mount Holyoke College. For dependent daughters of full-time or at least half-time employees after three years of service if the daughter is accepted as a full-time undergraduate student, tuition will be waived (or pro-rated for less than full-time).
Other Colleges. Qualified employees may apply for the Tuition Exchange program, which provides for tuition at additional colleges and universities.

Additional Educational Benefits
Members of the faculty and their spouses or same sex domestic partners and dependent children may take one course (4 credits) per semester for credit. Tuition will be waived.

Academic Career Network (partners and spouses)
Mount Holyoke College is a member of the Academic Career Network (ACN), a resource for dual-career couples which includes the Five Colleges and several other colleges and universities within commuting distance.

Housing

Moving Expenses for New Faculty
Reimbursement to new faculty whose appointments are for at least one academic year as follows: up to $700 if the move is 300 miles or less; up to $1,200 if the move is over 300 miles and not more than 1,000 miles; up to $2,000 if the move is over 1,000 miles. Personal transportation and expenses are not included.

Faculty Rental Housing
Available as space permits to tenure-track and visiting members of the faculty, new faculty who arrive with tenure, and certain administrative personnel.

Mortgage Plan for Home Ownership (tenure-track)
First mortgages in amounts up to $247,500 for property located in South Hadley, Granby, or Holyoke will be given at rates keyed to the Applicable Federal Rate (AFR). Requires tenure-track or senior lecturer status. The College also offers a shared appreciation mortgage for homes in South Hadley.