MIT is increasing its pay frequency for faculty, salaried staff, graduate students, and fellows, transitioning from a monthly to a semimonthly schedule in April 2018.
With this change, there will be two pay dates per month—on the 15th of the month and on the last day of the month. If either falls on a weekend or holiday, the pay date will be the business day that precedes that weekend or holiday.
See the semimonthly rate charts below. These rates are the same as the prior monthly rates, but are now evenly divided between the two semimonthly pay periods.
Have questions? Learn more about this change.
Semimonthly Rates for Faculty and Staff
|Coverage Tier||MIT Traditional Health Plan||MIT Choice Health Plan (Blue Cross Blue Shield)||MIT High Deductible Health Plan (Blue Cross Blue Shield)|
|Employee + Spouse (or Domestic Partner)||$244.50||$265.50||$203|
|Employee + Child(ren)||$209||$227||$173.50|
|Coverage Tier||MIT Basic Dental Plan||MIT Comprehensive Dental Plan|
|Employee + Spouse (or Domestic Partner)||$10||$29.50|
|Employee + Child(ren)||$10||$29.50|
|Faculty/Staff Semimonthly Rate|
|Employee + Spouse (or Domestic Partner)||$5.50|
|Employee + Child(ren)||$5.78|
Termination of Benefits
Some benefits end the last day of the month while others the last day of employment. Please see table below.
|Benefit||Last Day of Coverage|
|Medical, Dental, Vision||Last day of the month|
|Supplemental Life||Last day worked|
|Spouse and Dependent Life||Last day worked|
|Flexible Spending Account - Dependent Care and Health Care||Last day worked|
When you lose your eligibility for MIT group life insurance - as a result of termination, for example - your insurance coverage is protected for 31 days after you become ineligible. You may choose to maintain your coverage beyond that date either by converting your group coverage to individual coverage (conversion) or, for supplemental life insurance, by continuing your existing coverage (portability) within that 31-day continued protection period. Learn more.