A Closer Look at Your Personal Benefits Statement Understanding Your Net Worth at Duke TOTAL COMPENSATION.

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Presentation transcript:

A Closer Look at Your Personal Benefits Statement Understanding Your Net Worth at Duke TOTAL COMPENSATION

Your Personal Benefits Statement should arrive at your home by early May.

Duke paid out more than $1.86 billion for salaries & wages in Pay

Duke conducts annual surveys of the market to ensure its pay ranges are competitive. Pay

In 2009, salary increases nationally were the lowest in 33 years. * Average base pay increase for U.S. workers was 1.8% last year. * Salaries remained flat across higher education ** Data from Hewitt Associates* & CUPA** Pay

Despite the recession, Duke maintained its investment in benefit programs in Benefits

In fact, Duke has invested an additional $25 million more this year to maintain its benefits package.

Last year many employers had to reduced or eliminate benefits. Reduced time-off benefits Suspended retirement contributions Reduced health care benefits Benefits

Health & Wellness The average cost of health care per employee last year was $6,288 … most of which was covered by Duke.

The national average for health insurance premiums increased twice as much as Duke Select last year. Health & Wellness

In 2009, Duke contributed more than $99.1 million to the retirement plans of faculty and staff. Retirement Savings

Retirement is a three-legged stool made up of: Social Security Duke’s retirement contribution Personal savings Retirement Savings

Duke offers staff $5,250 annually for reimbursement of tuition supporting their professional development. Other Benefits

Duke employees receive 3 weeks paid parental leave for the birth or adoption of a child. Other Benefits

 Duke gardens  Nasher Museum of Art  Duke Chapel  Theater and performing arts  11 libraries  Duke credit union  Prominent speakers … Other Benefits

Want to learn more about how to take advantage of your benefits at Duke? Attend Financial Fitness Week TOTAL COMPENSATION Monday, May 17: 1 p.m. – 5:30 p.m. Durham Regional Hospital Tuesday, May 18: 8:45 a.m. – 3 p.m. Duke Raleigh Hospital Wednesday, May 19: 9 a.m. – 5 p.m. Searle Center, Duke University Medical Center Thursday, May 20: 8 a.m. – 5 p.m. Bryan Center, Duke University hr.duke.edu/financialfitness