Guide to Read Your Total Compensation Statement

Employees’ Retirement Plan (ERP)
Faculty Retirement Plan (FRP)
Retirement Savings Plan (RSP)

Additional Information Regarding Total Compensation Statements

Frequently Asked Questions
Understanding Your 2009 Total Compensation Statement (ERP)
Understanding Your 2009 Total Compensation Statement (FRP/RSP)
e-Veritas News Story

The Value of Working for the “U”

When we say “Total Compensation,” we mean your personalized combination of pay, benefits, health and wellness programs, and positive work environment that you experience as a part of the largest private employer in Miami-Dade County and top 50 research University. Working for UM gives you:

Intangible Benefits
• An opportunity to work in a renowned institution made up of more than 13,000 individuals who are each dedicated to helping achieve a mission that could potentially change the world.
• An opportunity to work to promote a health system that is unmatched - aimed at delivering compassionate, high-quality, affordable health service.
• An opportunity to be part of a tradition of excellence in all areas - from the playing fields to student advancement and research.
• An opportunity to take advantage of a wide range of benefits aimed at meeting your diverse needs.
• An opportunity for career and educational development to help you and your families grow personally and professionally.

Tangible Benefits

Top 10 Often Missed UM Benefits

1. Voluntary Benefits – Excess Life Insurance, Accidental Death & Dismemberment (AD&D), Long-Term Care Insurance
Voluntary benefits can provide much-needed financial support to you and your families during times of need. You can enroll in these benefits at any time of the year, and can also transfer these benefits to personal policies after you leave UM. Click here to learn more.
2. Employee Discount Program
In addition to discounts on UM Athletic Tickets, employees are eligible for discounts at hotels, performances and theme parks nationwide through tickets at work.  In addition, retailers such as BrandsMart have discounts available for employees. Click here to learn more.
3. Retirement Savings Opportunities
The University offers Voluntary Savings Plans 403(b)s which allow you to save your own money pre-tax for retirement. You can enroll at any time. It is important to invest in yourself - start saving for retirement early. Click here to learn more.
4. FREE Investment Counseling Services
The five University approved investment companies offer free investment counseling services to help you reach your financial goals. You may use their online investment tools or request a personal appointment with a representative who will review your investments and assist you in making asset allocation changes. Click here for investment company information.
5. Helpful FREE Seminars
The Faculty and Staff Assistance Program offers many free helpful seminars to employees year – round. Click here to view the upcoming schedule.
6. Faculty and Staff Assistance Program Services
Did you know that the experts at the Faculty and Staff Assistance Program can help you deal with life’s daily stressors – from workplace stress to anxiety, depression and family issues, they are available to provide free CONFIDENTIAL counseling and referral services. Click here to learn more.
7. Free Well ’Canes Programs
The Well ’Canes Programs offer everything from healthy meal and vending options on the Coral Gables campus, to discounts at the UM Wellness Centers.  Take advantage of many of these free offerings. Click here to learn more.
8. Professional Development Programs
The Professional Development and Training Office offers year-round career-minded seminars to help you get ahead, as well as other organizational development programs for your department or office. Click here to learn more.
9. Tuition Remission Benefits
Available for both faculty and staff and their dependents, tuition remission offers access to a free education at a top 50 University. Graduate courses are taxable, but certainly worth the investment. Click here to view the policy. If you are interested in this benefit, you must apply to the appropriate School/College.
10. Education Benefits – End User Support Training
If you are interested in freshening up your computer skills or learning new software, you can take classes offered through the End User Support team. Most classes are minimal cost (under $50) and can be paid simply with an IDR. Click here to learn more.

How to Access Your Total Compensation Statement

1. Log onto myUM.
2. Click the “Employee” tab.
3. Select “Benefits.”
4. Under the UM Benefits column, click “Total Compensation Statement.”

You may view your statements for the past three years.