Benefit and Pension Plans
- Clinical Faculty

Funding Benefits

If a member receives monthly income through the University payroll, deductions for statutory benefits, pension and life insurance plans will be automatically deducted from their pay. If a member does not receive income from the University in a given month, no pension contributions are payable and life insurance premiums will be invoiced to the member for payment. Clinical departments will be automatically charged for employer costs of statutory, pension and other benefits in the program on a monthly basis. Clinical department administrators can answer questions regarding the effect that a member’s benefits program participation has on the level of tithes and Points Based Remuneration that is payable from the department.

Annual Costs:

Physician and Department costs will vary depending on benefit plan participation and the options chosen by the physician. The Estimated 2011 costs of benefits for a 50 year old non-smoking male Physician Earning $45,000 in taxable income from the University with family coverage and who elected $200,000 in life insurance, dependent life and $250,000 accident insurance on his family:

Physician Costs

Pension
Life Insurance – self
Life Insurance – dependents
Accident Insurance – family, $250,000
Statutory benefits – CPP
Statutory benefits – EI
Total Annual Physician Costs

$ 675
538
100
72
2,054
786
$ 4,225

Department Costs

Health Care Spending Account
Post Retirement Benefits
Disability insurance
Dependent Tuition Scholarship
Statutory, Pension and Other benefits
Total Annual Department Costs

$ 2,160
2,378
300
339
5,850
$11,027

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