FY20 benefit enhancements introduced for U-M Health System and Shared Service employees
Michigan Medicine is introducing several enhancements in employee benefits for those working in the U-M Health System and Shared Services. The enhancements that will be effective in FY20 are as follows:
For non-bargained for employees for the U-M Health System and Shared Services (on PTO plan), university contributions to the employee retirement savings plan will increase to 10 percent (currently 9 percent), when employees contribute 5 percent (currently 4.5 percent) of base pay.
This change is effective Jan. 1, 2020 and will automatically update through HR. Employees will not be required to take any individual action to receive this increase. This change will not impact other additional deductions an employee has set up. For more details on retirement savings plans, please visit the university website: Retirement Savings Plan.
PTO sell back
Eligible non-bargained for employees receiving monthly paychecks will soon have the option to sell back up to 40 hours of paid time off, as long as 40 hours remain in their PTO bank.
PTO sell back for all employees will now be offered during January and May, but employees can select only January or May for their payout preference. All new employees must complete their probationary period by Jan. 1 or May 1 in order to sell back PTO for their selected month.
For more details about PTO sell back, visit the Michigan Medicine policies website: UMHS & Shared Service Non-Bargained for Staff PTO Guidelines.
Non-bargained for employees for the U-M Health System and Shared Services (on PTO plan) receiving monthly paychecks will now be paid 1.5x regular pay for working on six holidays (Labor Day, July 4, Thanksgiving and the following Friday, Memorial Day, New Year’s Day) and 2x regular pay for Christmas Day. This change will be effective Jan. 1, 2020 for monthly paid staff and Dec. 29, 2019 for biweekly paid staff.
Employees receiving biweekly paychecks will now be paid 2x regular pay for working Christmas Day.
For more details about holiday pay, visit the Michigan Medicine policies website: UMHS & Shared Service Non-Bargained for Staff Holidays Policy.
Eligible staff who work the majority of their shift on afternoons, nights or weekends will receive shift premium pay for all hours worked. This change will be effective Jan. 1, 2020 for monthly paid staff and Dec. 29, 2019 for biweekly paid staff. For more details about shift premium, visit the U-M Standard Practice Guide for Shift Premium.
The progressive benefit enhancements are just one way the organization demonstrates how much it values and appreciates its employees.
Thank you for all you do at Michigan Medicine!
Questions may be directed to firstname.lastname@example.org.