Bookmark & Share2013 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 |
