Various types of tuition benefits have been available to most full-time NYU employees for many years as part of our competitive package of benefits. In 2016, an ad hoc committee on tuition remission and portable tuition benefits was formed, comprised of NYU faculty and administrators, to review the employee tuition benefit program at NYU and make recommendations regarding its future structure. Starting with the premise that any changes should be cost neutral, the committee undertook extensive analyses of program utilization and alternative designs, compared our offerings to those at peer institutions, and conducted a survey of full-time faculty, administrators, and researchers to understand needs and obtain feedback across the University.
The committee determined that one of the areas of greatest attention and anticipation for employees was the future shape of the portable tuition benefit (i.e., funds to support dependents of full-time employees who are pursuing their degrees at institutions other than NYU). An expansion of the portable tuition benefit program was heavily explored. However, working within the envelope of cost neutrality, it emerged that achieving a major expansion of the portable tuition program would have required a substantial reduction of the NYU tuition remission program on which many faculty and staff look forward to having for their dependents or in the case of administrators and staff for own their personal and professional development.
That notwithstanding, I am pleased to share the resulting changes, enhancements, and timelines that were recommended by the committee and have been approved by University leadership. On behalf of the University community, I would like to thank the committee for their extraordinary efforts and dedication.
1. Doubling the Salary Level at Which Faculty, Administrators, and Professional Research Staff Can Receive 100% of Tuition Waived for Undergraduate Programs For Employee Tuition Remission
Current benefit: For employees earning an annual base salary above $50,000, 90% of tuition is waived for NYU associate’s degree and bachelor’s degree programs. For employees earning $50,000 or less, 100% of tuition is waived.
Change effective fall 2019 semester: For employees earning an annual base salary above $100,000, 90% of tuition is waived for NYU associate’s degree and bachelor’s degree programs. For employees earning $100,000 or less, 100% of tuition is waived.
**Please note this change is for employee tuition remission benefits only and does not apply to spouse or dependent child tuition remission benefits.
2. Doubling the Salary Level at Which Faculty, Administrators, and Professional Research Staff Can Receive 100% of Tuition Waived for Graduate Programs For Employee Tuition Remission
Current benefit: For employees earning an annual base salary above $50,000, 90% of tuition is waived for NYU master’s and doctorate degree programs and tuition remission eligible NYU graduate certificate programs. For employees earning $50,000 or less, 100% of tuition is waived.
Change effective fall 2019 semester: For employees earning an annual base salary above $100,000, 90% of tuition is waived for NYU master’s and doctorate degree programs and tuition remission eligible NYU graduate certificate programs. For employees earning $100,000 or less, 100% of tuition is waived.
**Please note this change is for employee tuition remission benefits only and does not apply to spouse or dependent child tuition remission benefits.
3. Additional Escalator for the Portable Tuition Benefit Plan for Dependent Children of NYU Employees and Retirees
Change effective fall 2019 semester: The flat-dollar amount benefit available to eligible employees, which had increased annually at a rate consistent with increases in NYU undergraduate tuition, will now include an additional 1.5% inflator annually.
4. Direct Payroll Contributions to Your 529 College Savings Program
Effective fall 2019 semester: Those participating in New York State’s 529 College Savings Program – which allows savings designated for college to grow deferred from federal and state tax – will be able to make contributions via automated payroll deduction for the first time.
5. Phasing Out the NYU Tuition Remission Benefit Plan for Spouse or Registered Domestic Partner Graduate Degree Programs for Faculty, Administrators, and Professional Research Staff
Change effective fall 2020 semester: This plan will be phased out. Eligible employees will be permitted to join the plan through the fall 2020 semester. Spouses of eligible faculty, administrators, and researchers will continue to receive the tuition remission benefits at the current 50% benefit level through the completion of the degree program in which they are currently enrolled. Savings achieved by this change will fund other tuition remission program enhancements
**Please note this phaseout does not apply to the NYU Tuition Remission Plan for Spouse or Registered Partner for Undergraduate Degree Programs which remains unchanged.
Tuition benefit program documents will be updated to reflect these changes and enhancements when effective. If you have any questions, please contact PeopleLink, NYU’s benefits and payroll service center, at askpeoplelink@nyu.edu or 212-992-LINK (5465). Thank you.
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