Benefits/Financial: Employees working 19 or more hours per week are offered a 401(k) plan and a 403(b) plan with employer match as well as a supplemental defined contribution plan. All new hires and all employees are automatically enrolled in the retirement plans, employees may invest in lifecycle funds that automatically re-allocate assets based on age or proximity to retirement, and employees age 50 and over can make catch-up contributions to their plan.
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 are offered to allow for caregiving.
Full- and part-time employees are offered flu shots, health risk appraisals, smoking cessation programs, health club discounts, weight loss programs, stress management training, and counseling on work-life and psycho-social issues.
The Center for Work and Family Life provides numerous services designed to enhance quality of life for employees and retirees, including retirement counseling.
Employees working 19 or more hours per week are eligible for on-site child care and back-up care for their children. Referral services to assist with child care and elder care are offered to all employees.
Benefits/Alternative Work Arrangements: The following alternative work arrangements are offered to employees working 19 or more hours per week: flextime, compressed work schedules, telecommuting and a formal phased retirement program. The phased retirement program gives faculty the opportunity of retiring over a one- or two-year period with approval and their benefits are maintained providing they work at least 50 percent of the time. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
Opportunities for Retirees: USC has 2,300 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, as well as full- and part-time work.
Age of Workforce: Thirty-six percent of USC employees are age 50 and over. The average tenure of those employees is 14.6 years.
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