MetLife PERC Plan and Other Part-Time Employee Benefits
- Effective September 1, 2011, all part-time Collin College employees will participate
in the Program for Extra Retirement Compensation (PERC) in lieu of Social Security (FICA).
- Mandatory program through a 403(b) tax-sheltered annuity account with MetLife in lieu of Social Security contributions
- Employee contributes 7.5% of salary pre-tax
- Insurance for Certain Associate Faculty
What is Texa$aver?
Texa$aver is a voluntary retirement savings program offered through ERS. Texa$aver can help you save for your future today.
Many financial experts agree that you will need at least 70% of your income to maintain your current way of life in retirement. And while you may receive money in the form of a pension and Social Security benefits when you retire, that may not be enough. That’s where the Texa$aver 457 Program comes into play.
The recordkeeper for Texa$aver is Great-West Retirement Services® (Great-West).
Full time and part time employees (except student employees) at Collin College may enroll in the voluntary Tax Deferred Account (TDA) plan. The TDA is a 403(b) defined contribution plan in IRS. The employee is 100% vested at all times. Collin College has retained JEM Resource Partners (JEM) to administer our Optional Retirement Plan (ORP) and Voluntary 403(b) Tax Deferred Annuity (TDA) plans. JEM Resource Partners (JEM) is the third party administrator contracted through Region 10 Retirement Asset Management Services (RAMS) www.region10rams.org to provide this service. All enrollments, contribution changes, transfers, loans, and withdrawals must be done online through the JEM website. You can also view your account balance with the vendors at the website.
To enroll in the TDA plan, go to www.region10rams.org, click on Login, select C from the navigation bar and click on Collin County CCD. The Summary Plan Description will be under Plan Description. Click on Register, enter your SS# (without dashes), provide the password colli403 and click Begin. To make a change to your current TDA election, click on Login, enter your SS# (without dashes) as user name, enter the last 4 digits of your SS# for the password and click on Submit.
If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be eligible for a tax credit. The amount of the saver's credit you can get is generally based on the contributions you make and your credit rate, refer to IRS Publication 590 - A Contributions to Individual Retirement Arrangements (IRAs). If you are determined to be eligible for the credit, your credit rate can be as low as 10% or as high as 50%, depending on your own adjusted gross income (AGI). The lower your income (or joint income, if applicable), the higher the credit rate. Your credit rate also depends on your filing status with the IRS. These two factors will determine the maximum credit you can take. You are also not eligible for the credit if your AGI exceeds a certain amount. Dependents and full-time students are also not eligible for the credit. Please refer to the IRS website (www.irs.gov) for the most current information regarding the Retirement Savings Contributions Credit.
For more information, review IRS Publication 590, Individual Retirement Arrangements (IRAs), Publication 4703, Retirement Savings Contributions Credit, and Form 8880. Publications and forms can be downloaded at www.IRS.gov or ordered by calling 800-TAX-FORM (800-829-3676).
Part-time Faculty Insurance InformationCollin County Community College District (Collin College) Associate Faculty Benefits
Collin County Community College District Associate Faculty members, who meet the following specific criteria (as authorized in SB 1370), may elect to participate in the Texas Employees Group Benefits Program (GBP).
An associate faculty member teaching credit classes at Collin College is eligible to participate in the group benefits program if the faculty member:
- receives compensation from Collin College as an Associate Faculty member; and
- has been employed as an Associate Faculty member by Collin College and has taught at least one course in each regular fall and spring semester in each of the preceding three academic years; and
- is under contract or scheduled* to teach at least 12 semester credit hours in the academic year of coverage.
NOTE: Associate faculty members, who are eligible and elect to participate in the GBP will have a 60-day waiting period for health insurance coverage. Any enrollment changes after initial eligibility must be in accordance with ERS rules and may require evidence of insurability application and approval. All other insurance plans must be elected within thirty (30) days of initial eligibility.
- Eligibility is determined as of the 1st day of classes for each long academic semester.
- Eligibility for these benefits does not constitute an employment contract or a promise of future employment.
- “Scheduled to teach” shall mean an associate faculty member as scheduled on Banner form SIAASGN as of the first class day of a fall and/or spring semester.
Collin College Human Resources department will notify associate faculty members who are identified as eligible to participate in the benefit plans through an initial e-mail to his/her campus GroupWise e-mail address. Other correspondence regarding the group benefit plan will be distributed by e-mail through the college’s GroupWise e-mail system. Faculty members are responsible for obtaining and monitoring their GroupWise e-mail for information throughout the year.
Discount Purchase Program
Visit the new State of Texas discount purchase program web site link is listed on the right hand side of this page.
Employees, retirees, and their immediate families can use the site to get discounts on many products and services, from computers to theme park passes. There's no sign-up fee, registration, or cost to you. Visit today to start saving.
Have questions? Review the discount purchase program frequently asked questions.
Sign up for e-mail updates about the discount purchase program .
Additional Benefits for Part-time, Non-Student Employees
- Wellness Program and Wellness Program Guidelines
- Professional Development Opportunities (Please check with the HR/Professional Development Staff for eligibility criteria.)
- Training Programs and Workshops of General Interest
- Unemployment Compensation Insurance
- Workers’ Compensation Insurance
**Applies to ALL non-student employees only, including associate faculty