Benefits

Employees can choose between different plan options, and KU Endowment shares the cost of premiums for employees and their dependents.

Employees and their families are eligible for dental coverage on the first of the month following their start date. KU Endowment shares the cost of premiums for employees and their dependents.

For employees enrolled in the High Deductible Health Plan option, KU Endowment will contribute funds to an HSA to help cover costs for medical, prescription drug, vision, and dental out-of-pocket expenses. Employees can also make pre-tax payroll contributions to their HSA.

Employees may voluntarily save for retirement by contributing to the KU Endowment 401(k) “defined-contribution” plan through payroll deduction. Employees elect to make contributions to the Regular 401(k) (tax-deferred), to the Roth 401(k) (after-tax), or a combination of these. The matching contribution is equal to 50% of each 1% you elect to defer up to 5% of your total compensation (KU Endowment’s maximum matching contribution of 2.5%). Employees are vested immediately on both the portion they contribute and the matching funds.

Benefits-eligible employees are automatically covered by insurance policies that cover basic term life insurance, accidental death and dismemberment, and business travel accidents. Death benefits under these policies are paid to a named beneficiary of the employee’s choosing. Premiums are paid in full by KU Endowment.

Employees have the option of electing additional, employee-paid Voluntary Life Insurance as well.

Employees may seek free advice and counsel regarding any number of life’s everyday challenges through the EAP program.

Universal life insurance provides financial support for families in emergencies or unexpected events, preserving their quality of life. The death benefit secures a family’s future after the insured’s passing, and the cash value can be used in emergencies during their lifetime.

As a supplement to your medical insurance, this plan provides valuable financial support during hospital stays, covering hospital admission and daily confinement costs in the form of direct cash payments to you.

This plan offers essential support by furnishing you with cash benefits when you experience a covered incident and require medical attention, covering medical costs, managing household expenses, or addressing other vital needs.

Employees are provided financial assistance in the event that they experience a serious health event, such as a heart attack or stroke. The policy is intended to help cover the costs associated with such an event, such as medical expenses, lost income, and other financial obligations. 

Identity Theft Coverage provides continuous monitoring of employee’s credit report and restoration of identity if identity theft occurs. Participants’ credit files are monitored daily and alerts are sent when activity occurs. Premiums are paid by the employee, and coverage is provided for them, their spouse (if spouse’s name is on the application), and minor children, if elected.

Legal Services provides employees access to an attorney for creating a will, a living will, and a medical power of attorney. Additional benefits are included such as 24/7 access for telephone consultations.

Paid personal leave begins accruing with the date of employment (initially approximately 10 hours of personal leave per month for full-time employees).

Sick leave is awarded at the beginning of each fiscal year and is prorated and awarded to new employees upon hire. Personal and sick leave are prorated for part-time employees.

Discretionary leave days (three per calendar year) are designed to allow employees to observe holidays not currently granted off by the company, participate in family events or other special occasions that are important to the employee.

Benefits-eligible employees will be provided with up to four weeks of paid parental leave. In addition, KU Endowment supports breastfeeding employees and has earned the Gold Level Breastfeeding Employee Support Award from the Kansas Breastfeeding Coalition.

KU Endowment provides paid days off for New Year’s Day, Martin Luther King Jr. Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the day after Thanksgiving, Christmas Eve and Christmas Day.

Employees are eligible to receive reimbursement to partially offset the cost of undergraduate or graduate level classes at the University of Kansas. KU Endowment will provide up to $2,000 per semester or $4,000 per fiscal year (7/1 to 6/30), for benefit–eligible degree-seeking employees taking classes at KU. Staff members’ benefits-eligible dependents may receive up to $1,000 per semester, or $2,000 per fiscal year with a maximum lifetime benefit of $8,000.