Employee Benefits & Wellness

Averett University’s benefits program is an important part of our employee compensation package. All benefits are offered to permanent fulltime employees with some limited benefits available to permanent part-time and intermittent employees (such as adjunct faculty).

Flexible Spending Account (FSA) enables permanent fulltime employees to set aside money each month that can be used throughout the plan year to cover the expense of eligible medical services and supplies, and dependent care expenses.

Health Insurance is available to permanent full-time employees through three plan options. The University shares the costs with the employees. A Health Savings Account plan (HSA) is offered as well as a traditional preferred provider plan. A voluntary wellness plan premium incentive option is available through the health insurance program.

Dental Insurance is offered with the employee paying the full premium.

Vision Insurance is offered with the employee paying the full premium.

Life Insurance is provided for fulltime permanent employees for two times the employee’s annual salary. Additional coverage is offered at the employee’s expense.

Employee Assistance Program (EAP), TELUS Health, please visit their website at www.one.telushealth.com. Counselors are available 24/7 by dialing 1.888.319.7819. TELUS is an employee assistance program (EAP) that provides employers, employees, and family members with support services for a variety of issues associated with daily living.

Retirement 403(b) plan under which an employee may elect to contribute a percentage of  their salary.

Sick Leave accrues for eligible employees at the rate of 8 hours per month, up to a maximum of 1040 hours. Earned sick leave may be used for the employee or sickness/death of an immediate family member.   A shared leave pool is offered whereby sick leave hours are voluntarily donated to a pool for use by employees who have exhausted their sick leave hours.

Tuition Benefits enable permanent fulltime employees and eligible family members to take classes at Averett without tuition charges. Other fees (such as lab or activities fees) and material costs may not be included in the benefit. In addition to classes offered by Averett, the University participates in two exchange programs:

  • The University is a member of the Consortium of Independent Colleges (CIC) and participates in its Tuition Exchange Program as well. Subject to some restrictions, CIC-TEP institutions accept tuition-free students from families of the fulltime employees of other CIC-TEP institutions. https://www.cic.edu/member-services/tuition-exchange-program
  • The University also participates in the Tuition Exchange (TE) which is a reciprocal scholarship for the dependents of eligible faculty and staff at more than 600 member schools. https://www.tuitionexchange.org

University Holidays – Averett employees have the following holidays as part of their benefits package.

  • New Year’s Day
  • MLK Jr. Day
  • Good Friday
  • Memorial Day
  • Juneteenth
  • Fourth of July
  • Labor Day
  • Thanksgiving (2 days)
  • Winter break (days and dates vary)
  • Christmas Day

Vacation Leave accrues for eligible staff members at a rate based on the length of employment with the University with a new employee earning 10 days a year.

A Personal Leave Day is available to each permanent fulltime employee each year, to be scheduled with the employee’s supervisor.

Volunteer Service Leave is available to permanent fulltime staff, with some restrictions, to enable Averett team members to volunteer within the community, with pay, up to two full work days each year; one day for part time eligible employees.

Aflac offers insurance to help with uncovered medical costs or disability. The employee pays the full premium.

Benefit Options Available to all Averett University employees, including part-time employees and, in some instances, adjunct faculty include:

  • Retirement 403(b) account in which the employee may elect to contribute a percentage of wages. There is no matching contribution by the University for part-time or adjunct employees.  The University is a member of the CICV Multiple Employer Plan (MEP) retirement plan. The 403(b) Multiple-Employer Plan (MEP) retirement plan was launched in 2018. A MEP is a single retirement plan with multiple “adopting employers”. MEPs provide numerous benefits, including robust employee education and advising that will help employees meet their retirement goals, constant monitoring of the investment options and fees charged, reduction of each college’s administrative burden, fiduciary liability and cost to manage their retirement plan, and flexibility for each college to tailor the plan to accommodate their school’s needs.
    • TIAA serves the MEP as the record keeper, Pentegra as the plan administrator, SageView as the plan investment advisor, and Millennium Advisory Services as the employee advisor. Troutman Pepper provides legal counsel, and CICV delivers the program with administrative and controller support. In 2020, the Governing Committee contracted with PRM Consulting to conduct a due diligence review of all the vendors, including surveys of various constituent groups to evaluate the level and quality of services provided by the vendors, as well as a cost analysis to determine whether vendors fees are in line with other MEPs. After completing this project, PRM Consulting was hired on an ongoing basis as a consultant.
  • Valley Star: valleystar.org
  • Beacon: www.mybcu.org
  • URW Community Federal Credit Union: urwfcu.org
  • Averett University Bookstore employee discount of 10% on many items
  • Free or discounted admission to University athletic and performance arts events.
  • Discounted meal rates at the Averett Dining Hall
  • Danville YMCA discounted membership rate with Averett faculty/staff ID

The Cougar Nation discount program is designed to increase awareness of local businesses and reward students, faculty, staff, and alumni for supporting local businesses.