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Long Term Disability (LTD) Optional Plan Premium Rates

2013 Premiums

Payroll Deduction as a Percent of Predisability Earnings

Benefit waiting period Higher Education Retirement Plan (TIAA-CREF) employees TRS, PERS, & other retirement plan employees
30 days 1.86% 1.47%
60 days 0.95% 0.78%
90 days 0.52% 0.43%
120 days 0.30% 0.26%
180 days 0.23% 0.20%
240 days 0.22% 0.20%
300 days 0.20% 0.18%
360 days 0.20% 0.17%

To calculate your Optional Plan LTD premium, multiply your monthly base pay (up to $10,000) by the percentage shown for the desired Benefit Waiting Period.

Example 1

If you are a Higher Education Retirement Plan (TIAA-CREF) employee with monthly earning of $1,000, the 60-day benefit waiting period would cost $9.50 per month.

Earnings:
60-day benefit waiting period:
Monthly cost:
$   1,000   per month
x 0.0095   (0.95% converts to 0.0095 when multiplying)
$     9.50

Example 2

If you are a TRS, PERS, or other retirement plan employee with monthly earning of $1,000, the 60-day benefit waiting period would cost $7.80 per month.

Earnings:
60-day benefit waiting period:
Monthly cost:
$   1,000   per month
x 0.0078   (0.78% converts to 0.0078 when multiplying)
$     7.80