Full-time faculty receive 88 hours of sick time per academic year. If faculty works during the summer, an additional 16 hours will be given. Hours are received at the beginning of each academic year. Sick time can be taken in hourly increments.
Full-time faculty receive 24 hours of personal time at the beginning of each academic year. For employees who begin in the middle of an academic year, hours will be prorated. Personal time can be used in hourly increments. Any unused personal time will be transferred to sick leave at the end of the academic year (August 31).
Lake Land College provides for nine paid holidays: January 1, Friday of Spring Break, Martin Luther King, Jr., Day, Memorial Day, July 4th
, Labor Day, Thanksgiving Day, Day After Thanksgiving, Christmas Day.
Lake Land College full-time employees, their spouses, and their dependents (unmarried and under age 23) are eligible for tuition waivers for credit courses at Lake Land. Any fees associated with the classes are the responsibility of the employee.
Full-time employees are entitled to a tuition reimbursement of $100 per credit hour up to $600 a fiscal year if they advance their education with a baccalaureate, masters, or doctoral degree. Reimbursement is available for courses in which a grade of C or better is received, verified through official transcripts.
Lake Land College employees are members of the State Universities Retirement System.
(403)b Retirement Savings Plan
Lake Land College offers a voluntary 403(b) plan. Employees have the option of choosing from a variety of investments funds and can contribute on a pre- or post- tax basis. Open enrollment for a 403(b) plan is ongoing.
Life and AD&D Insurance
Lake Land College provides full-time faculty with $40,000 in life and AD&D insurance. Employees may also purchase elect additional supplemental insurance for themselves, their spouse, and their dependents. Spouses and dependents cannot have more supplemental life insurance than the employee has in supplemental insurance.
Flexible Spending Account
Full-time employees can elect to fund, via payroll deduction, a FSA account for qualified medical or dependent care expenses incurred during the plan year. These elections are made on a pre-tax basis to save the employee federal and state income taxes. Any unused funds will be forfeited at the end of the plan year.
Lake Land College offers three PPO options so that employees can chose what plan would work best for them and their family. There are two traditional health plans and one HDHP with a compatible Health Savings Account. Employees can elect coverage for their dependents, defined as a spouse or child under the age of 26.
* Lake Land College will also contribute to a Health Savings Account on behalf of the employee.
Health Savings Accounts
A HSA is a tax-favored savings account which allows funds to be accumulated tax-free to pay for current and future qualified healthcare expenses. A HSA account is only available if a HDHP, or Plan 3 is chosen. Contributions can be made in a lump sum or in regular installments by the employer, the employee or both. Lake Land contributes an amount equal to the difference in premiums for Plan 2 and Plan 3.