LTD Optional Plan premiums are based on: 

  1. What type of employee you are,
  2. How long you want your Benefit Waiting Period (the amount of time you would have to wait for benefits to start after you become disabled) to be, and
  3. How much you earn. 

 

Benefit Waiting Period
(your choice)
TIAA-CREF
employees
TRS, PERS, & other retirement plan employees
30 days 1.86% 1.47%
60 days 0.95% 0.78%
90 days 0.52% 0.43%
120 days 0.30% 0.26%
180 days 0.23% 0.20%
240 days 0.22% 0.20%
300 days 0.20% 0.18%
360 days 0.20% 0.17%

* Higher Education Retirement Plan 

If you enroll, premiums will be automatically deducted from your payroll.
 

How to calculate your premium

To calculate your LTD Optional Plan premium,  

  1. Pick your Benefit Waiting Period,
  2. Find your employee type,
  3. Multiply you your base monthly pay (up to $10,000 max) by the percentage shown. 
     

Example #1

If you want a 60-day Benefit Waiting Period and you're a TIAA-CREF employee earning $1,000/month: 

Earnings:
60-day Benefit Waiting Period:
Monthly premium:
$   1,000   per month
x 0.0095   (0.95% = 0.0095 when multiplying)
$     9.50

 
Example #2

If you want a 60-day Benefit Waiting Period and you're a TRS, PERS, or other retirement plan employee earning $1,000/month:

Earnings:
60-day Benefit Waiting Period:
Monthly premium:
​$   1,000   per month
x 0.0078   (0.78% = 0.0078 when multiplying)
$     7.80