About BYU-Idaho Compensation
When employees think of compensation, many think of a paycheck. However, compensation needs to be viewed more holistically. Below are some of the monetary elements of an employee's compensation:
Funds received each pay period in return for work that was performed (paycheck).
Health, Dental, Vision and Life Insurance Benefits
BYU-Idaho pays the majority of the employee's health insurance premiums. For example, an employee who is on the Deseret Value Family health plan paid $108.30 each month in premiums, while BYU-Idaho paid $1,440.90 each month on the employee's behalf.
401K and ROTH 401K
BYU-Idaho will match up to 4% of an employee's retirement contribution.
Each month, funds are set aside for employees to a pension fund account. Employees must have at least 5 years of benefit eligible employment to be vested in this benefit.
Retirement Plus Plan
A predetermined percentage (currently at 3.5%) is put into a retirement account for all qualifying employees.
Other benefits that are not included in the data above, but have a significant financial impact on employees include:
1. Higher Education Assistance
2. Tuition waiver for Employees, Spouse, and Dependents
3. Cell Phone Plans
4. Use of Exercise Facilities
5. University Store Discounts
6. Campus Event Discounts
7. Paid Leaves (Holiday, Vacation, Sick, Maternal, Parental)