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 In the event of separation from employment before vesting, the employee contributions may be withdrawn.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.