Total Rewards Statement

March 1, 2021

TO: All Benefits-Eligible Faculty and Staff

FROM: Molly Brasfield, Chief Human Resources Officer

SUBJECT: Total Rewards Statement

To help inform you of the full value of being a benefits-eligible employee at the University of Mississippi Medical Center, the Human Resources Benefits Team will email you a detailed Total Rewards Statement this week.

There are no workplaces in Mississippi comparable to UMMC. We are the state’s only academic medical center and home to many of the state’s “only here” clinical, educational and research programs – children’s hospital, Level I trauma center, transplant program, Level IV NICU - just to name a few. We are the state’s largest health science education program and the largest biomedical research institution. Being a member of the “People of the U” family is a unique and valued experience. This is in part why UMMC was voted the “Best Place to Work” by readers of the Jackson Free Press five of the last six years.

While no job is perfect, being a UMMC employee has many advantages. The generous and diverse benefits package provided to you as a benefits-eligible employee is one reason working here can be so beneficial. In addition to the paycheck you receive, you are also entitled to a long list of benefits. Some of them are automatically provided to you by the institution, while others are available to you, should you elect to receive them. Sometimes, the significant contribution the Medical Center makes on your behalf as a UMMC employee can go unnoticed. UMMC employee benefits, highlighted by a retirement system in which the employer contributes a significant amount more than the employee, are some of the most generous in the country, according to AON, a nationally known benefits design firm.

UMMC recently engaged AON to analyze and compare its employee benefits package to those of other organizations similar in size and industry, locally and nationally. AON’s analysis found that UMMC’s benefits package surpasses most of the other health care and higher education institutions surveyed. While we are always looking for ways to improve the benefits provided and available to UMMC employees, it’s great to know we are all benefitting from such a highly regarded “hidden paycheck.”

The comprehensive package that includes the automatic and elected benefits options make up what is called your Total Reward. This dollar amount reflects the full financial compensation package attached to your position. It includes your base pay, the amount automatically transferred out of your earnings, the amount UMMC pays on your behalf and the amount automatically transferred out of your earnings for your selected programs.

UMMC pays approximately 60 percent of the cost of your health and life insurance premiums and retirement account contributions. That’s a huge perk that comes with being a UMMC employee. Another popular perk for being an employee in the University of Mississippi system that is not reflected in the Total Rewards Statement is dependent tuition discounts at UM-system locations, with some exceptions.

We encourage all employees, especially during the open enrollment period, to periodically check the benefits they have elected to receive in case they would like to make any changes. All employee benefits options can be found at www.umc.edu/benefits.

 

Thank you.