  {"id":2156,"date":"2019-03-14T16:40:52","date_gmt":"2019-03-14T16:40:52","guid":{"rendered":"http:\/\/www.rochester.edu\/provost-2019\/?page_id=2156"},"modified":"2021-11-18T18:59:18","modified_gmt":"2021-11-18T18:59:18","slug":"program-description","status":"publish","type":"page","link":"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/program-description\/","title":{"rendered":"Payment Details"},"content":{"rendered":"<p>On this page, you\u2019ll learn about payment nuances and details for the program, including calculations, benefits, and more.<\/p>\n<p>Ready to take action? You can use our <a href=\"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/online-payment-calculator\/\">Payment Calculator tool<\/a> (Net-ID required) to understand your payment situation, or download the <a href=\"https:\/\/www.rochester.edu\/provost\/wp-content\/uploads\/2019\/03\/datacal.xls\">Data and Calculation Sheet<\/a> to take the next step in requesting to participate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On this page, you\u2019ll learn about payment nuances and details for the program, including calculations, benefits, and more. Ready to take action? You can use our Payment Calculator tool (Net-ID&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":2116,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"page-templates\/one-column.php","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"class_list":["post-2156","page","type-page","status-publish","hentry"],"acf":{"lead_in":"","display_title":"","subtitle":"","call_to_action":"","hero_image_placement":"no_image","hero_media":"images","hero_pattern_option":"","hero_video":"","hero_image_landing":"","hero_image_landing_two":"","hero_image_landing_three":"","content_modules_above":[{"acf_fc_layout":"text","anchor":"","css_class":"pb-20","title":"<h2 class=\"utopia-font\">Calculation of initial payment<\/h2>","content":"The individual\u2019s payment under the Faculty Senior Associates Program is dependent on several factors: final salary immediately before entering the Program, median salary of the relevant faculty cohort group, age, length of service, and Primary Social Security benefit when applicable.\r\n\r\nThe derivation of the payment to be received under the Faculty Senior Associates Program may be summarized as:\r\n<blockquote>Basic Value plus Service Bonus plus FSAP Bonus Points less Primary Social Security Benefit (for those at full retirement age and older) = FSAP Payment<\/blockquote>\r\nA few important caveats:\r\n<ul>\r\n \t<li>In Arts, Sciences &amp; Engineering, separate median salaries for each discipline (natural sciences, social sciences, humanities, and engineering sciences) are used.<\/li>\r\n \t<li>In the School of Medicine and Dentistry, separate median salaries are used for: (1) clinical departments; (2) basic science departments; and (3) non-M.D. in clinical departments. The maximum salary value is $200,000 for use in calculating an individual\u2019s payment and for determining the median salary of the cohort group. This limit will be reviewed periodically.<\/li>\r\n<\/ul>\r\nSee a step-by-step breakdown of how the payment is calculated below, or use our Payment Calculator Tool to see an interactive snapshot of your potential payment.","background_color":"#ffffff","width":"width-medium"},{"acf_fc_layout":"accordion","anchor_id":"","classes":"pt-0","title":"","description":"","layout":"center","width":"width-medium","background_color":"#FFFFFF","style":"row_simple","row_bg_color":"","row_text_color":"#252525","row_bg_color_hover":"#252525","row_text_color_hover":"","row_border_color":"#252525","row_border_weight":"normal-border","animation":"slide","icon":"chevron-icon","icon_location":"right-icon","accordions":[{"title":"1. Basic Value","row_content":"Expressed as a percent of the individual\u2019s salary\r\n<ol>\r\n \t<li>Divide the individual\u2019s salary by the median salary;<\/li>\r\n \t<li>Divide 100 by the quotient of (a)<\/li>\r\n \t<li>Subtract 80 from the quotient of (b).<\/li>\r\n<\/ol>","accordion_anchor":""},{"title":"2. Service Bonus","row_content":"Provides additional points for individuals with more than 20 years of service.\r\n\r\nSubtract 20 from the number of years of faculty service and, if the difference is positive, divide by 2. (If the difference is negative, the service bonus is zero.)","accordion_anchor":""},{"title":"3. FSAP Bonus Points","row_content":"Provides additional points for individuals based on age.\r\n<ul>\r\n \t<li>If you\u2019re 62 when you enter FSAP, your total bonus points will be 12<\/li>\r\n \t<li>If you\u2019re 63 when you enter FSAP, your total bonus points will be 9<\/li>\r\n \t<li>If you\u2019re 64 when you enter FSAP, your total bonus points will be 6<\/li>\r\n \t<li>If you\u2019re 65 when you enter FSAP, your total bonus points will be 5<\/li>\r\n \t<li>If you\u2019re 66 when you enter FSAP, your total bonus points will be 4<\/li>\r\n \t<li>If you\u2019re 67 when you enter FSAP, your total bonus points will be 3<\/li>\r\n \t<li>If you\u2019re 68 when you enter FSAP, your total bonus points will be 2<\/li>\r\n \t<li>If you\u2019re 69 when you enter FSAP, your total bonus points will be 1<\/li>\r\n<\/ul>","accordion_anchor":""},{"title":"4. Payment %","row_content":"Add 1, 2, 3 (above). The sum is the percentage used to determine the payment.","accordion_anchor":""},{"title":"5. Payment for First Year","row_content":"Apply the Payment % to the individual\u2019s salary.\r\n\r\nNote: Payment for the first year cannot exceed 66.7% of the individual\u2019s final salary immediately before entering the Program nor be less than 20% of the cohort median salary used in the calculation.","accordion_anchor":""},{"title":"6. Primary Social Security Benefit","row_content":"For an individual at full retirement age (FRA) or older, subtract from the calculated payment the amount of the full Primary Social Security benefit, i.e., the amount the individual is entitled to receive at FRA whether or not the individual chooses to receive it.","accordion_anchor":""}]}],"sidebar":"show__sidebar","sidebar_feed":"menu_select","menu":"126","page_links":null,"sub_menu":"","content_modules":[{"acf_fc_layout":"card_grid","anchor":"","css_class":"","title":"<h2 class=\"utopia-font\" style=\"text-align: center;\">Additional payment support materials<\/h2>","description":"","background_color":"#f4f4f4","width":"width-large","columns":"3","cards":[{"card_title":"<h5 class=\"utopia-font\">Online payment calculator tool<\/h5>","card_text":"Use this interactive form to understand your potential payments (Net-ID required)","card_background_color":"#FFFFFF","card_hover_color":"#283faf","card_link":{"title":"FSAP Online Payment Calculator","url":"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/online-payment-calculator\/","target":""},"card_hover_arrow":"hover_arrow","card_image":"","card_image_size":"","card_image_placement":"","card_image_hover_state":"hover_fade","card_image_link":""},{"card_title":"<h5 class=\"utopia-font\">Download data and calculation sheet<\/h5>","card_text":"Download the Excel sheet that you\u2019ll have to submit as part of requesting to participate","card_background_color":"#FFFFFF","card_hover_color":"#283faf","card_link":{"title":"","url":"https:\/\/www.rochester.edu\/provost\/wp-content\/uploads\/2019\/03\/datacal.xls","target":""},"card_hover_arrow":"hover_arrow","card_image":"","card_image_size":"","card_image_placement":"","card_image_hover_state":"hover_fade","card_image_link":""},{"card_title":"<h5 class=\"utopia-font\">Example data and calculation sheet<\/h5>","card_text":"Reference an example populated data sheet to better help you understand the process","card_background_color":"#FFFFFF","card_hover_color":"#283faf","card_link":{"title":"Payment Calculation Example","url":"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/payment-calculation-example\/","target":""},"card_hover_arrow":"hover_arrow","card_image":"","card_image_size":"","card_image_placement":"","card_image_hover_state":"hover_fade","card_image_link":""}]},{"acf_fc_layout":"text","anchor":"","css_class":"pb-30","title":"<h2 class=\"utopia-font\">Changes in payment<\/h2>","content":"There are two situations that may cause changes in payment: annual payment adjustments, and social security benefit reductions. Learn more about both of these scenarios below.\r\n<h3 class=\"utopia-font\">Annual payment adjustments<\/h3>\r\nBeyond the initial year, the FSAP payment is adjusted each fiscal year (effective July 1 through June 30) by the increase, if any, in the median salary of continuing faculty in the rank of the participant\u2019s school and discipline group if applicable. (The payment will not be reduced if the median salary is reduced.)\r\n\r\nThe adjustment is made to the total payment, i.e., the payment prior to the reduction of the Social Security benefit, and any reduction for the Social Security benefit is made from the adjusted total payment.\r\n\r\nIn June of each year, the dean of each school is asked to submit to the Deputy to the Provost the increase in median salaries for continuing faculty in her or his school for the following fiscal year. The adjustment in FSAP payments is made in the Deputy to the Provost\u2019s office and submitted to the Human Resources Service Center.\r\n\r\n<strong>Example year 1:<\/strong> If your gross FSAP payment is $50,000, and your primary social security benefit is $0, your annual FSAP payment will be $50,000\r\n\r\n<strong>Example year 2:<\/strong> If your gross FSAP payment is $51,500, and your primary social security benefit is $28,000, your annual FSAP payment will be $23,500\r\n\r\n<strong>Example year 3:<\/strong> If your gross FSAP payment is $52,788, and your primary social security benefit is $28,000, your annual FSAP payment will be $24,788\r\n<h3 class=\"utopia-font\">Social security benefit reduction<\/h3>\r\nThe FSAP payment is reduced at the full retirement age (FRA) by the amount of the full Primary Social Security benefit the participant is entitled to receive at FRA (whether or not the individual chooses to draw upon the benefit). Similarly, if an individual draws Social Security early (before FRA), it is not that amount but the amount of the full Primary Social Security benefit the participant would have been entitled to receive at FRA that is used in the calculation of the reduction. The FSAP payment is not adjusted for subsequent cost-of-living increases instituted by the Social Security Administration. The reduction begins the first day of the month following the month in which the individual reaches FRA. For example, if an individual were to reach FRA in February, her or his payment would be reduced by the amount of her or his Social Security benefit effective March 1.\r\n\r\nA letter is sent from the Office of the Deputy to the Provost reminding the participant to send a copy of the notification obtained from the Social Security Administration that indicates the amount of the benefit the individual is entitled to receive at FRA. If a copy of the notification is not received by the 15th of the month in which the participant reaches FRA, the payment is reduced by the maximum Primary Social Security benefit an individual retiring at FRA could receive, as published by the Social Security Administration.\r\n\r\nIf the Primary Social Security benefit exceeds the FSAP payment an individual is receiving, the FSAP payment ceases. However, the calculation continues to be made each year to age 70. Should the amount of the payment reach the point of exceeding the Social Security benefit, the FSAP payment would be reinstated. One of the changes contained in the Social Security Amendments of 1983 was that the FRA would be gradually raised from age 65 beginning with persons born in 1938 to age 66 finally to age 67 (for those born in 1960 and after). The implementation schedule used by the Social Security Administration has been and continues to be used in the Faculty Senior Associates Program for making the Primary Social Security benefit reduction at FRA.","background_color":"#ffffff","width":"width-medium"},{"acf_fc_layout":"accordion","anchor_id":"","classes":"pt-0","title":"","description":"","layout":"left","width":"width-medium","background_color":"#FFFFFF","style":"row_simple","row_bg_color":"","row_text_color":"#252525","row_bg_color_hover":"#252525","row_text_color_hover":"","row_border_color":"#252525","row_border_weight":"normal-border","animation":"slide","icon":"chevron-icon","icon_location":"right-icon","accordions":[{"title":"Implementation schedule based on year of birth","row_content":"<ul>\r\n \t<li>Born before 1938: Full Retirement Age is 65<\/li>\r\n \t<li>Born 1938: Full Retirement Age is 65 and 2 months<\/li>\r\n \t<li>Born 1939: Full Retirement Age is 65 and 4 months<\/li>\r\n \t<li>Born 1940: Full Retirement Age is 65 and 6 months<\/li>\r\n \t<li>Born 1941: Full Retirement Age is 65 and 8 months<\/li>\r\n \t<li>Born 1942: Full Retirement Age is 65 and 10 months<\/li>\r\n \t<li>Born 1943-1954: Full Retirement Age is 66<\/li>\r\n \t<li>Born 1955: Full Retirement Age is 66 and 2 months<\/li>\r\n \t<li>Born 1956: Full Retirement Age is 66 and 4 months<\/li>\r\n \t<li>Born 1957: Full Retirement Age is 66 and 6 months<\/li>\r\n \t<li>Born 1958: Full Retirement Age is 66 and 8 months<\/li>\r\n \t<li>Born 1958: Full Retirement Age is 66 and 10 months<\/li>\r\n \t<li>Born after 1960: Full Retirement Age is 67<\/li>\r\n<\/ul>","accordion_anchor":""}]},{"acf_fc_layout":"text","anchor":"","css_class":"","title":"<h2 class=\"utopia-font\">Part-time employment<\/h2>","content":"Payments are not influenced by any outside earnings a participant might make after entering the Faculty Senior Associates Program. Payments are also not affected by part-time appointments offered by a school or department of the University provided that the participant\u2019s total compensation from the University does not exceed 100% of the final full-time salary before entering the Program. That is, the combination of FSAP payment and part-time salary may not exceed the final full-time salary immediately before entering the Program. The FTE for part-time appointments should be less than 50% (based on final full-time salary).","background_color":"#f4f4f4","width":"width-medium"},{"acf_fc_layout":"text","anchor":"","css_class":"","title":"<h2 class=\"utopia-font\">Termination<\/h2>","content":"Payments cease at the end of the month in which the participant reaches age 70. If a participant dies before the age of 70, the payments cease upon death.","background_color":"#ffffff","width":"width-medium"},{"acf_fc_layout":"text","anchor":"","css_class":"","title":"<h2 class=\"utopia-font\">Benefits<\/h2>","content":"Benefits coverage for participants between the ages of 62 and 70 is the same as for active, full-time faculty members except for income maintenance programs such as long-term disability, sick pay benefits, and retirement contributions, which do not pertain. If an individual is enrolled in the health care plans, premiums can be deducted on a pre-tax basis. Participants also may elect a Flexible Spending Account (FSA) to pay for unreimbursed medical and dental expenses with pre-tax dollars.\r\n\r\nIndividuals in the FSAP are eligible for the same health care plans at the same premium rates as active, full-time faculty members. Upon attainment of eligibility for Medicare, the individual may elect to have Medicare either primary or secondary to the University of Rochester health care plans (i.e., the individual may elect to be treated as an active, full-time faculty member or as a 糖心传媒 \u201cMedicare-eligible\u201d retiree).\r\n\r\nQuestions about benefits coverage should be directed to the Human Resources Benefits Office. Benefits provided to participants are (like the benefits provided to all active faculty, staff, and retirees) subject to the right of the University to amend or terminate its benefits plan.","background_color":"#f4f4f4","width":"width-medium"},{"acf_fc_layout":"text","anchor":"","css_class":"","title":"<h2 class=\"utopia-font\">Changes to the program<\/h2>","content":"It is the University\u2019s policy not to discontinue offering the Program to new entrants or make substantial changes in the terms offered to new entrants without written notification to full-time faculty at least one year in advance of the effective date of the change. Any person already participating in the Program or who enrolls in it prior to the effective date of such a change would continue under the terms of the existing Program.","background_color":"#ffffff","width":"width-medium"},{"acf_fc_layout":"card_grid","anchor":"","css_class":"","title":"<h2 class=\"utopia-font\" style=\"text-align: center;\">Still have questions?<\/h2>","description":"","background_color":"#f4f4f4","width":"width-medium","columns":"2","cards":[{"card_title":"<h5 class=\"utopia-font\">Frequently asked questions<\/h5>","card_text":"Explore our FAQs for additional detailed information","card_background_color":"#FFFFFF","card_hover_color":"#283faf","card_link":{"title":"FSAP Frequently Asked Questions","url":"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/frequently-asked-questions\/","target":""},"card_hover_arrow":"hover_arrow","card_image":"","card_image_size":"","card_image_placement":"","card_image_hover_state":"hover_fade","card_image_link":""},{"card_title":"<h5 class=\"utopia-font\">Contact us<\/h5>","card_text":"Find contact information by specific school","card_background_color":"#FFFFFF","card_hover_color":"#283faf","card_link":{"title":"FSAP Contacts","url":"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/more-information\/","target":""},"card_hover_arrow":"hover_arrow","card_image":"","card_image_size":"","card_image_placement":"","card_image_hover_state":"hover_fade","card_image_link":""}]}]},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Faculty Senior Associates Program Payment - 糖心传媒<\/title>\n<meta name=\"description\" content=\"Explore payment details for faculty members interested in the Faculty Senior Associates Program (FSAP) at the University of Rochester.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/program-description\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Faculty Senior Associates Program Payment - 糖心传媒\" \/>\n<meta property=\"og:description\" content=\"Explore payment details for faculty members interested in the Faculty Senior Associates Program (FSAP) at the University of Rochester.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rochester.edu\/provost\/faculty-support\/faculty-senior-associates-program\/program-description\/\" \/>\n<meta property=\"og:site_name\" content=\"Office of the Provost\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-18T18:59:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rochester.edu\/provost\/wp-content\/uploads\/2022\/02\/Link-Preview-Provost-1200x630.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/provost\\\/faculty-support\\\/faculty-senior-associates-program\\\/program-description\\\/\",\"url\":\"https:\\\/\\\/www.rochester.edu\\\/provost\\\/faculty-support\\\/faculty-senior-associates-program\\\/program-description\\\/\",\"name\":\"Faculty Senior Associates Program Payment - 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