Bank Street employees are entitled to retirement benefits; participation in a municipal credit union and flexible spending accounts; qualified transportation expenses; health, dental and long-term disability insurance; vacation days and other benefits. Please contact the Human Resources Office if you need further information.
Health and Dental Insurance
Staff appointed on a minimum load of 2.5 days per week (50%) or greater shall be eligible for health and dental insurance. The effective date for newly eligible employees is the first of the month following employment.
- Guardian Dental Plan
- Oxford Health Plans / United Healthcare
- HIP / Health Plan of New York (EmblemHealth)
Flexible Spending Account
Medical / Dependent Care Spending Account: We have flexible spending accounts which allow for pre-tax salary reductions for dependent child care and / or eligible medical expenses not covered by the health insurance policy. Information is available in the Human Resources Office. (Benefit-eligible staff only)
Long Term Disability Insurance
Long-Term Disability Insurance is currently provided for eligible staff members on appointment of 50 percent or more at the college's expense. All eligible staff members are covered after six months of service. Long-Term Disability Insurance provides a monthly income benefit, commencing after six consecutive months of total disability, of 60 percent of covered monthly salary up to $12,000 maximum.
Participation in the retirement plan for benefit eligible employees on appointment of 50 percent or more is mandatory after one year of service. For participants who eligibility to participate in the mandatory plan began prior to September 1, 2013 the College contributes 7.5 percent of the staff member's regular monthly salary to the plan; the staff member must contribute 5 percent of his / her monthly salary.
For each participant whose eligibility occurs for the first time on or after September 1, 2013, the College contributes 6.25 percent of the staff member's regular monthly salary to the plan and the staff member must contribute 5 percent of his / her monthly salary.
New Staff members who have TIAA plan from a prior employer can participate in the mandatory plan from first month of employment. For more information on planning your retirement, read this brochure from TIAA.
Staff may elect to contribute a larger percentage under a tax shelter plan. This additional contribution may be made to the Supplemental Retirement Annuity. (You may voluntarily begin to contribute to this tax-deferred plan before the one-year waiting period.) Visit TIAA-CREF online or for additional information on planning your retirement, read this brochure from TIAA.
Contact TIAA-CREF: 212-490-9000
All benefit-eligible staff members who are at 50 percent workload or greater are eligible to enroll in two (2) free courses in the Graduate School or Continuing Professional Studies. The two courses shall not exceed twelve (12) credits per academic year. You are allowed to bank up to two courses (9 credits), which must be used in the next immediate academic year. Please request a Course Banking Request Form in the Human Resources Office, 9th Floor.
More Benefits for Staff
Entertainment Discounts for Staff:
Plum Benefits offers discounts on broadway shows, theater, concert, sporting and family events. Sign up for free with your Bank Street email address on www.plumbenefits.com to receive their monthly discounts.
Here are the discounts offered for the month of April 2013 (pdf).