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More information regarding benefits is available on the Human Resources website by clicking on the Benefits tab: https://www.apsu.edu/human-resources/index.php 

Mandatory deductions from all salary and longevity payments are Federal Income Tax and, if applicable, Social Security. Federal income tax is withheld in accordance with law. Social Security is deducted at the rate and for the maximum amount established by law. Certain other deductions may be arranged with the Office of Human Resources. Examples of these arrangements are payroll deductions to contribute to United Way, to pay premiums for insurance, to pay debts to the University, to give to the University, etc. Contact the office of Human Resources for additional information. The faculty member can also make arrangements for deductions to a tax-sheltered annuity or a deferred compensation program. The Internal Revenue Code provides that the University may place a portion of an employee's compensation in an annuity contract owned by the faculty member and that income taxes payable on this amount may be deferred until the annuity is paid during retirement. Further information can be obtained from the Office of Human Resources. The Office of Human Resources is authorized to deduct certain debts, such as parking fines and travel advances, owed to the University from a paycheck. Such deductions are made only after ample notice has been given and attempts to collect the debt have failed.

Health: Faculty participation in the State of Tennessee group health insurance plans is optional. Employees may participate in a plan authorized by the state of Tennessee. Refusal forms are required of any persons who do not wish to participate. The employee's portion of the premium is deducted according to the published schedule, available from the Office of Human Resources. Insurance becomes effective on the first day of the calendar month following 30 days of employment. Applications must be made during the first 30 days of employment. Faculty should be aware that after this 30-day period, enrollment must be based on a qualifying event or requested during the annual enrollment transfer period occurring in the fall of each year for an effective date of January 1 of the following calendar year.

Further information about the group insurance plan and a booklet outlining its provisions can be obtained from the Office of Human Resources. The health insurance plan also includes basic term life and basic special accident coverage. The amount of coverage and the premium increases as the employee's salary increases. Dental Insurance: Dental insurance coverage is available through payroll deduction. There are two different options available - a Prepaid Plan and a PPO Option Dental Benefit Plan. In the Prepaid Plan, one dentist from a list of available dentists must be designated. Under the PPO Option Dental Benefit Plan, any dentist may be used; however, members receive the maximum benefit when visiting a PPO network provider. Vision Insurance: Vision insurance is available through payroll deduction. Coverage is available with Davis Vision. Flexible Benefits Plan: During a fall enrollment period, faculty have the opportunity to set aside tax-free dollars that can be applied to medical expenses and day care for a child or an adult. Careful planning is advised because a decision to participate is irrevocable unless a family status change occurs; funds not spent for qualifying items will not be returned to the employee. For more information, consult the state plan document.

Optional Term Life Insurance coverage is available for the employee, spouse, and eligible dependents. Under this plan, premiums for the employee and spouse are age-based and automatically increase on Jan. 1 if he/she has changed age brackets. Premiums for dependent children are a flat rate and do not increase regardless of the ages or number of children insured.

Long term disability coverage is available through Lincoln Financial.

Short term disability coverage is available through MetLife.

The PC191, passed by the Tennessee Legislature, allows full-time employees of Austin Peay to enroll in one course per term, if space is available, at any public postsecondary institution in the state with fees waived. Also, the Tuition Reimbursement Program is available after six months of employment, and may be used for up to six credit hours per term at any accredited school, public or private. Guidelines for participation in these programs are available from the Office of Human Resources. The Spouse/Dependent Fee Waiver offers a student fee discount for undergraduate courses at any institution in the Tennessee Board of Regents system, The University of Tennessee system or other State institutions of higher education to spouses or dependent children of employees of Austin Peay State University.

Regular full-time faculty members are required to join the Tennessee Consolidated Retirement System (TCRS) or the Optional Retirement Program (ORP). Both options are paid by the University as a fringe benefit for employees hired prior to July 1, 2014.

Employees hired July 1, 2014 or later will be joining the Hybrid Retirement Plan. Both the employee and employer will contribute to the plan.

Because TCRS is a defined benefit plan, the amount of interest credited to employee accounts does not increase the retirement benefit payable to members who retire. On July 1, 1981, the TCRS became noncontributory for teachers in state-supported institutions of higher education. This change resulted in two types of members: those who were employed before that date and have both contributory and noncontributory service, and those who were employed on or after that date and have only noncontributory service. For the former, the state assumes contributions. Members leaving the employment of the state and having both contributory and noncontributory service may apply for a refund of the contributions in their account. Members whose total service is noncontributory are not eligible for refunds. Members joining TCRS on or after July 1, 1979, attain vested rights after five years of membership service. Members having both contributory and noncontributory service who have attained vested rights may leave their contributions in the system and retain membership. Noncontributory members who have not attained vested rights lose membership after seven years. 

Employees hired July 1, 2014 or later and joining TCRS will be covered by the TCRS Hybrid Pension Plan. This plan provides a combination of a defined benefit plan and a defined contribution plan with employee and employer contributions. The defined benefit portion is managed by TCRS and the defined contribution portion will be deposited into the state’s 401(K) plan. Employees will be required to contribute 5% of the salary to the defined benefit portion of the Hybrid Plan. The employer will contribute an amount equal to 4% of the salary to the defined benefit and 5% to the defined contribution. The employee may also contribute to the state’s 401 (k) plan; this plan offers a match.

ORP became noncontributory as of July 1, 1981. In lieu of the employee contributions, the employer makes contributions at the rate of 10 percent of gross salary below the Social Security wage base and 11 percent above the Social Security wage base. Unlike TCRS, which is a defined benefit plan, ORP is a defined contribution plan where the total amount of contributions and interest credited to each ORP member's account is used to purchase an annuity payable for the retiree's lifetime. Participants may direct funds to TIAA-CREF, VOYA, or VALIC, or the funds may be split between two or three of these companies. After five years of membership in the ORP, participants will receive a letter from TCRS offering a one-time opportunity to transfer to the TCRS by purchasing service credit.

Employees hired July 1, 2014 or later and joining the Optional Retirement Program will be covered by the Hybrid Pension Plan. This plan provides a combination of employee contributions and employer contributions. Employees will be required to contribute 5% of the salary; the employer will contribute an amount equal to 9% of the salary. The fund is managed by TIAA-CREF, VOYA, or VALIC depending on which company or companies the employee chooses. The employee may also contribute to the state’s 401(K) plan; this plan offers a match.