Benefits
The University provides medical and dental benefits, retirement and savings plans, paid
annual leave and much more for eligible personnel.
Prospective members of faculty and staff will receive an employment offer outlining
their comprehensive benefits package.
KAUST offers high quality, comprehensive medical and dental plans for all eligible
faculty and staff members, as well as their spouses and eligible dependents.
Faculty and staff members are eligible for medical coverage as part of KAUST's Employee
Value Proposition. The plan covers the employee, spouse and eligible dependent children 19
years old or younger. The plan also provides coverage for dependent children 25 years old or
younger who are enrolled in an undergraduate college or university.
- Healthcare
- Disability
- Pension and Saving
- Insurance
Premier Medical and Dental Coverage
KAUST offers
high quality, comprehensive medical and dental plans for
all eligible faculty and staff members, as well as their
spouses and eligible dependents.
Medical Coverage
Faculty and staff members
are eligible for medical coverage as part of KAUST's
Employee Value Proposition.
The plan covers
the employee, spouse and eligible dependent children
19 years old or younger. The plan also provides
coverage for dependent children 25 years old or
younger who are enrolled in an undergraduate college
or university.
Dental Care
Faculty and staff members are
eligible for in-Kingdom dental services through a
local healthcare provider. The plan provides
coverage for preventive care and substantial
coverage for a wide range of other dental
services.
Income Continuation
As an additional benefit,
KAUST provides coverage to eligible faculty and staff
members to assist them in the event of a period of
disability due to an accident or illness, including both
short- and long-term disability events.
Short-Term Disability
The plan provides
salary continuation for eligible faculty or staff
members who are temporarily unable to work because
of illness or injury. Levels of coverage are based
on a percentage of base pay for defined periods of
time.
Long-Term Disability
This plan provides
continuation of income for eligible faculty and
staff members who are unable to work because of a
qualifying long-term illness or injury.
Pension Plan
KAUST contributes a fixed
percentage of monthly base pay into an account that
provides a lump-sum pension benefit at retirement. The
percentages are based on the number of years of service
as of December 31 of any given year, and are shown in
the table below:
Years of
Service |
Contribution
|
0-5 years |
10% of base salary |
6-8 years |
13% of base salary |
9-11 years |
15% of base salary |
12+ years |
18% of base salary |
The vesting period is three years. The vested
balance is fully portable upon retirement or separation
from the University.
Savings Plan
KAUST matches employee
contributions in a retirement account established
with a third-party financial
institution.
KAUST matches contributions
dollar-for-dollar, up to a maximum of 10 percent of
the employee's monthly base pay.
Please note
for US citizens and green card holders there is a
maximum contribution allowance for the employee and
matching by the employer per IRS tax
code.
Please consult with your financial
advisor for more details. Also, the Internal Revenue
Service (IRS) website has comprehensive information
concerning contribution allowances.
This
account is fully vested from the first day and is
fully portable upon retirement or separation.
Excellent Offerings to Faculty and Staff
KAUST's
comprehensive benefits package includes life insurance
for eligible faculty and staff members because the
University recognizes the need to protect relatives and
survivors.
Life Insurance
All faculty and staff members
are eligible for life insurance
coverage.
Basic Life - provides
two times the annual base pay, up to a maximum
insured value of $1 million, in case of death while
employed by the University. KAUST pays to cover all
of its faculty and staff members.
Accidental Death and Dismemberment
All
personnel are eligible for Accidental Death and
Dismemberment (AD&D) insurance
coverage.
AD&D - provides two times
the annual base pay, up to a maximum insured value
of $1 million, while employed by the University.
KAUST pays to cover all of its faculty and staff
members.