Full-Time Faculty Benefits
Medical Insurance: Full-time faculty are eligible for individual or family coverage, participating in Oakton's self-insurance, HMO Illinois, or BlueAdvantage health plans. The employee share of premium costs is eligible for tax sheltering under the provisions of IRS Code, Section 125.
Dental Insurance: Full-time faculty are eligible for individual or family coverage in Oakton's dental insurance plan. The employee share of the premium is tax sheltered under IRS Section 125.
Flexible Spending Account: Employees can set aside pre-tax dollars to cover any eligible medical or dependant care expenses.
Term Life Insurance: Twice the annual salary rounded up to the next thousand dollars is provided by the College. Optional life and dependant insurance is available up to $750,000, and is paid by the employee.
Tuition Waivers: The College will waive tuition for an unlimited number of Oakton credit-courses for employees, their spouse and children.
Tuition Reimbursement: Reimbursement for course tuition at other educational institutions is available within budget limitations.
Retirement: Full-time faculty are required by state law to join the State Universities Retirement System (SURS). Employees contribute eight and one half percent of gross pay to SURS. Full-time faculty vest their retirement account after five full years’ credited service. In the event of separation from employment before vesting, the employee contributions may be withdrawn.
Deferred Compensation Plans: The College offers 403(b) and 457 tax-deferred annuity plans.
Observed Paid Holidays:
- Martin Luther King's Birthday (Third Monday in January)
- President's Day (Third Monday in February)
- Independence Day (July 4)
- Labor Day (First Monday in September)
- Veteran's Day (November 11)
- Thanksgiving Recess (Fourth Thursday-Friday in November)
Sick Days: Full-time faculty receive 15 per academic year, with an additional .5 sick day awarded per LHE for summer employment (up to a maximum of 3). Up to five sick days may be used for personal business.
Sabbatical Leave: Full-time faculty are eligible after six years of full-time teaching. A faculty member may apply for a one full year sabbatical at half-pay, or a one semester sabbatical at full pay. A summer sabbatical is paid at the summer school contractual rate.
Four-Day Summer Work Week: The College adopts a four-day summer work week beginning with the Friday following Memorial Day and continuing until the Friday of the week preceding the beginning of the academic year.
Early Childhood Centers: Discounted rate for employees. Click here to find out more about tuition rates.