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:

Base Pay

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 pays $205.50 each month in premiums, while BYU-Idaho pays $1,978.14 each month on the employee's behalf.

401K and ROTH 401K

BYU-Idaho will match up to 4% of an employee's retirement contribution.

Pension

Each month, funds are set aside for qualifying employees to a pension fund account. Employees must have at least 5 years of benefit-eligible employment to be vested in this benefit.

Employee Discretionary Retirement Contribution

This is a predetermined percentage based on an employee’s hire date, which is put into a retirement account.

More

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)

1. Foster an environment where employees can:
   
   1. Use their talents
   2. Expand their potential
   3. Provide dedicated support to hastening the work of building the kingdom
   4. "Be resourceful, upbeat, and loyal so that they can give their best in what they are contributing" *
   5. Work, learn, teach, and be taught by the Spirit
2. Maintain a holistic view of the benefits (tangible/non-tangible) of working at BYU-Idaho
   
3. Use sacred funds conservatively in efforts to work towards the mission of BYU-Idaho.
   
4. "Be a source of income, but even more importantly, a source of satisfaction for the employee and their families" *

President Gordon B. Hinckley (Working in the Lord's Kingdom DVD)