Benefits/Financial: Full- and part-time employees are offered a 403(b) plan with employer match and those working 20 or more hours per week are eligible for a defined-benefit plan and a money-purchase defined contribution plan. All new hires are automatically enrolled in the 403(b) plan; employees age 50 and over can make catch-up contributions to their plan and may invest in lifecycle funds that automatically re-allocate assets based on age or proximity to retirement.
Staff from the financial services firm that administers the retirement plans provides financial information and training to employees.
Short-term and long-term leaves of absence without pay, and paid time off are offered to allow for caregiving. The university offers 32 hours of Family and Personal Leave at the beginning of the year to use for caregiving or other family needs.
Full- and part-time employees are offered flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, physical activity and weight loss programs, and stress management training.
Full- and part-time employees are eligible for on-site child care for their children and grandchildren. Referral services and back- up care are also offered to assist with child care, grandchild care and eldercare. George Mason's Work and Life Team, which includes a Life Planning and Eldercare Coordinator, offers resource and referral assistance on eldercare, dual career issues, relocation and life events.
Benefits/Alternative Work Arrangements: The following alternative work arrangements are offered to full- and part-time employees: flextime, compressed work schedules, job sharing, telecommuting and a formal phased retirement program. The phased retirement program allows tenured faculty age 60 and over the option of moving from full-time or part-time status to retirement over a one- or two-year time period.
In addition, employees may utilize flexible work options such as telework, compressed schedules, flex time, job sharing and remote work while maintaining full-time benefits. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
Opportunities for Retirees: George Mason University has 617 retirees and an individual directly responsible for retiree relations. The university stays connected with its retirees by communicating regularly, inviting retirees to organization events, providing ongoing access to retirement planning workshops and information, and by formally acknowledging retirees when they retire. Retirees are offered work opportunities including temporary work assignments, consulting or contract work, telecommuting and part-time work.
Age of Workforce: Thirty-eight percent of George Mason University employees are age 50 and over. The average tenure of those employees is 13 years.
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