Insurance Benefits
All full-time and regular faculty members are eligible to participate in the following insurance benefit programs:
- Health Insurance – Individual, Individual + Spouse, Individual + Child(ren) or Family coverage
- Dental Insurance
- Vision Insurance
- Life Insurance
- Long-Term Disability Insurance
- Accidental Death and Dismemberment Insurance
- Worker’s Compensation Insurance
- Liability Insurance
The College reserves the right, from time to time, to change the above described insurance benefit programs. The College, whenever possible, will communicate any changes in advance to the faculty, or to the appropriate faculty committee. The schedule of benefits, as well as conditions and exclusions that apply to any of the coverages, may be obtained from the Office of Human Resources (x1105).
Retirement Plan
Defined Contribution and Tax Deferred Annuity Plans
Eligibility for Elective Employee Deferrals: Eligible employees may elect to reduce their base pay and have Elective Employee Deferrals made on their behalf upon becoming employed by Stonehill College and as soon as administratively possible.
Eligibility for College & Discretionary Matching Contributions: Following one year of service, eligible employees become eligible for College and Discretionary Matching Contributions. The College contribution is 5% of base pay. In addition, there is a 3% Matching Contribution for the 7/1/23 – 6/30/24 plan year.
Both plans permit employees to save tax-deferred dollars for retirement. Details of the plan policies and procedures for contributions can be obtained from the Office of Human Resources (x1105).
Voluntary Retirement Incentive Plans for Tenured Faculty
Stonehill offers two separate voluntary retirement incentive programs to eligible tenured faculty who would like to retire from Stonehill:
- The Early Retirement Incentive Plan
- The Reduced Academic Schedule Plan
- Interested faculty should contact the Office of Human Resources (x1105) for details of eligibility, deadlines and application procedures.
Voluntary Reduced Academic Schedule Retirement Plan for Full-Time Faculty
Stonehill offers a voluntary two year reduced academic schedule retirement plan for eligible full-time faculty 65-70 years old who would like to retire from Stonehill. Interested faculty should contact the Office of Human Resources (x1105) for details of eligibility, deadlines and application procedures.
Tuition Remission and Exchange Programs
Tuition Remission
After four years of full-time employment, the College provides tuition remission to dependent children and spouses of full-time and regular faculty members and to nieces and nephews of members of the Congregation of Holy Cross. The remission applies only to that portion of a student’s tuition not covered by grants and scholarships received from other sources, including the College. The remission does not cover the costs of room, board, books, and fees.
A formal request for tuition remission must be made through the Office of Human Resources at the time of application to the College. Failure to meet Satisfactory Academic Progress guidelines as outlined in the Hill Book disqualifies the student from tuition remission.
For details of eligibility and application procedures, contact the Office of Human Resources (x1105).
The spouses and children of retired or deceased faculty members who have served the College full-time for at least seven years immediately prior to their retirement or death shall be entitled to this same scholarship aid upon their admission to the College.
Religious who teach at the College are allowed to divide a total of two full scholarships per year among their nieces and nephews. The same stipulation applies to these scholarships as to those that are provided for the spouses and children of lay faculty members.
Tuition Remission at Other Congregation of the Holy Cross Institutions
Children of faculty and staff of Stonehill College who are eligible for tuition remission, in whole or in part, at the College are eligible for the same remission, subject to the same criteria, at the following institutions:
- King’s College (Wilkes-Barre, PA)
- Our Lady of Holy Cross College (New Orleans, LA)
Tuition Exchange (TE) Scholarship Program
Tuition Exchange is not a guaranteed benefit, rather it is a scholarship awarded by the export institution. After four years of full-time employment, Tuition Exchange is open to dependent children of employees and may pay full tuition or a guaranteed amount toward tuition and include a wider range of choices, at over 500 institutions. Initial and renewal applications, available in the Office of Human Resources, must be submitted to that Office for consideration in the subsequent academic year. Tuition Exchange guidelines and selection criteria are available from the Office of Human Resources. Contact the Office of Human Resources (ext. 1105) for details regarding eligibility for participation in the Tuition Remission and Tuition Exchange Programs.