403b Retirement Contribution Benefit
Sweet Briar College contributes towards a retirement account on behalf of eligible employees in the amount of 2% of regular earnings. No employee match or any employee payroll contribution is required in order to receive the College contribution.
Additionally, eligible employees may elect to enhance their retirement savings by making voluntary contributions to a supplemental retirement annuity. For voluntary contributions to begin, or to make changes to an existing voluntary contribution, an employee must provide a signed salary reduction agreement to human resources.
403b Investment options are currently provided through either TIAA or VOYA. Please contact human resources at 434-381-6323 for assistance.
- Salary Reduction: Voluntary Contribution
- Summary Annual Report: Defined Contribution Retirement Plan (Notice Date 6-30-2017)
- Summary Annual Report: Tax-deferred Annuity Plan (Notice Date 6-30-2017)
Group Life Insurance
The College offers group life insurance in the amount of one full year’s salary, with double indemnity for accidental death and dismemberment. Coverage is available after 90 days’ employment. The College pays for this benefit.
Supplemental Accidental Death and Dismemberment Insurance
Please check back for updated information.
Eligibility is offered the first day of the month following 90 days of employment. In the event of disability, employees are covered for 60% of monthly pay, following a six-month disability leave period. The College pays the full cost of this benefit.
Full-time Sweet Briar employees are eligible to attend classes at no cost, pending departmental approval, and sufficient space in the class. Part-time employees can take advantage of this opportunity after two (2) years of service. Full tuition benefits are available to children and spouses of full-time staff. To be eligible, the child or spouse must be admitted through the normal admissions procedures, and the employee must have completed a year of employment. The College also participates in two Tuition Exchange Programs with consortium colleges. Please refer to the Tuition Benefits Policy for complete details.
- Tuition Benefits Policy (Revised 4-2016)
For a full-time or part-time employee to be considered a retiree of the College, the employee must be 55 years of age or older and have worked a minimum of 10 full-time consecutive years with the College immediately prior to retirement. Employees intending to retire must notify the human resources office at least 6 weeks prior to the effective date of retirement. As some of the College’s benefit plans have differing retirement requirements, refer to plan documents for specific requirements.
Benefits-eligible employees who retire may continue enrollment in the College medical insurance program up to age 65. However, the College does not contribute to the retired employee’s medical insurance premium or any other health or dental benefit. The retiree must pay the entire amount of the monthly premium, in advance, by personal check or cash.
Upon retirement, unless otherwise covered by the above provision, employees will be offered COBRA continuation for a period of 18 months for medical and dental insurance.
Retirees are also eligible for:
- a 10% discount on all merchandise purchased at the Book Shop (except for textbooks)
- use of the athletic facilities and library
- discounted meals at Prothro
- entrance to performances and shows at the Sweet Briar staff/faculty rates
- a tuition-free class each semester, providing there is room in the class (fees and textbooks to be paid by the retiree at normal costs)
Athletic Facilities Use
In support of our wellness initiatives, we encourage all College employees and their families to take advantage of our state-of-the-art Fitness and Athletics Center (FAC). College employees should use their SBC ID (obtained from the Office of Campus Safety) to present when using the athletic facilities for personal use. Spouses/partners and family members can request a Facility Use Pass from the director of athletic facilities. Dependents age 15 and younger must be accompanied at all times by an authorized FAC user. For more information, please call 434-381-6305.
Book Shop Discount
Located centrally between the post office and Prothro Hall, the Book Shop provides a variety of retail items (textbooks, books, clothes, office supplies, gifts) to faculty, staff, students and guests of the College. Printing services are also provided in the Book Shop. Faculty, staff and retirees receive a 10% discount on all merchandise purchased at the Book Shop (except for textbooks).
Sweet Briar College is a member of Beacon Credit Union, which was organized in 1939, and has thousands of members in Central Virginia. Direct deposit of paychecks is available for all employees.
Friends of the College may be housed in the Elston Inn at Sweet Briar College. For reservations and room rates, call 434-381-6207.