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

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Presentation on theme: "A Closer Look at Your Personal Benefits Statement Understanding Your Net Worth at Duke TOTAL COMPENSATION."— Presentation transcript:

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

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

3 Duke paid out more than $1.86 billion for salaries & wages in 2009. Pay

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

5 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

6 Despite the recession, Duke maintained its investment in benefit programs in 2009. Benefits

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

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

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

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

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

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

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

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

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

17 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


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