Staff Compensation and Benefits

Compensation Philosophy

PEA uses a "market-based" approach when determining salary ranges for staff positions. Market rates are established for benchmark jobs with a goal of compensating staff above the market average. We intend to annually review 20% of staff positions to ensure we do not lag the market in future years. In addition, employees' salaries are adjusted annually in July.

Benefits Overview

Medical Plan: The Academy offers two medical plans through Blue Cross Blue Shield of Massachusetts. To help offset the deductible, the PPO has a health savings account (HSA) that is partially funded by the Academy and also allows you to contribute. The HMO 1000 plan has a health reimbursement account (HRA) that is partially funded by the Academy. Both plans provide comprehensive coverage for inpatient, outpatient, mental health and prescription drugs which are important to maintaining your health and treating illnesses and accidents. Health insurance protects you from unexpected, high medical costs. The premiums are a shared cost between you and the Academy.

Dental Plan: The Academy offers two dental plans through Northeast Delta Dental.

The Low Plan offers preventive, basic, major and orthodontic services with an annual maximum benefit of $1,000. The High Plan offers the same coverage as Low Plan, but with an annual maximum benefit of $2,000. The premiums are a shared cost between you and the Academy.

Retirement Plan: The Academy offers a 403(b) defined contribution plan through TIAA and Fidelity, the plan managers. PEA contributes 9% of salary less than the IRS step rate and 12% of salary in excess of the IRS step rate for employees under age 50 as well as 12% for employees age 50+. All contributions are 100% vested from date of hire. A full range of investment choices, withdrawal features, and distribution options are available upon separation of employment.

Voluntary Retirement Contribution: You can make elective deferrals, on a pre-tax basis. The IRS limit for a voluntary contribution is $18,000 in 2016. Employees who are age 50 or over at the end of the calendar year can also make a catch-up contribution of $6,000 in 2016 beyond the basic limit on elective deferrals.

Basic Life Insurance: The Academy provides a basic life insurance plan through Prudential Life Insurance Company equal to one times your annual base salary up to $100,000. The plan offers a living benefit feature for terminal illness. This is an Academy paid benefit.

Voluntary Life Insurance: You can elect to purchase additional life insurance, through Prudential, equal to 1-5 times your annual base salary up to a maximum of $300,000. The plan is portable and offers a living benefit feature for terminal illness. You pay the full cost of the benefit.

Dependent Life Insurance: You can elect to purchase life insurance, through Prudential, to cover a spouse or child. You can purchase coverage for a spouse in increments of $5,000 up to $50,000 for a spouse and $5,000 per child. The plan is portable. You pay the full cost of the benefit.

Short Term Disability (STD) (staff only): The Academy provides a short-term disability plan, through Prudential Life Insurance Company, that offers income replacement at 60% of base pay up to a weekly maximum of $1,000. The maximum duration of benefits is 26 weeks if disabled. There is a 7-day elimination period. This is an Academy paid benefit.

Supplemental STD Pay (staff only): The Academy provides an additional income replacement at 40% of base pay for staff who are on STD. This ensures that staff remain whole in their compensation if they are out on an approved STD leave. This is an Academy paid benefit.

Long Term Disability (LTD): The Academy provides a long-term disability plan, through Prudential Life Insurance Company, that offers income replacement at 60% of base pay up to a monthly maximum of $7,000. The maximum duration of benefits is generally to age 65 or until no longer disabled. There is a 6-month elimination period. This is an Academy paid benefit.

Time Off (staff): Academy staff may be eligible for paid holidays, vacation, paid personal leave and parental leave, as well as time off for jury duty, bereavement leave. Other time off programs include military leave, family and medical leave, and community service leave.

Tuition Remission – Regular Session: Children of full-time and three-quarter time staff and administrators who qualify for admission to the Academy are eligible to receive an Academy-only scholarship equivalent to the day tuition at the Academy. The tuition remission benefit for benefits eligible employees who work between 1,000 and 1,560 hours will be pro-rated for the regular session.

Tuition Remission: Summer School: Tuition remission for summer session is limited to a) one year of Access Exeter and one year of Upper School, or b) two years of Upper School. Please note that there is a fee associated with Access Exeter that covers the off campus excursion costs. The tuition remission benefit for benefits eligible employees who work between 1,000 and 1,560 hours will be pro-rated for the school.

Dining Hall: All non-teaching employees are entitled to eat one meal in the Academy dining hall during their work hours at no charge. Accompanied guest charges are: breakfast, $7; brunch $8; lunch $9; and dinner $9. Ticket books offering discount prices for frequent guests are available through the dining services office, ext. 3490

Parking: The Academy provides free parking in Academy owned lots to all employees provided that the employee registers her/his vehicle(s) with campus safety and obtains, for display, the appropriate decal. Employees living in campus housing have assigned/reserved parking at or near their residence.

Harris Family Children’s Center (HFCC) Scholarship: HFCC scholarships will provide subsidies to Academy employees who might not otherwise be able to afford regular session HFCC tuition. An application is required. Scholarships are strictly need-based and are reviewed annually. This is an Academy paid benefit.

Employee Assistance Program (EAP): The Academy provides confidential counseling service plus referrals for employee + dependents for up to 6 visits through Health Watch EAP, located at Exeter Hospital. This is an Academy paid benefit.

Personal ID Theft Protection: The Academy provides a theft protection plan, through Travelers, that covers losses associated with ID theft (e.g. – legal, credit restoration, telephone/postage, limited lost wages). This is an Academy paid benefit.

Social Security/Medicare: The Academy pays 7.65% of your annual earnings up to federal limit into SSI on your behalf.