The University of Toledo

04/15/2024 | Press release | Distributed by Public on 04/15/2024 02:00

Total Compensation Statements Bring Visibility to Employee Benefits

Total Compensation Statements Bring Visibility to Employee Benefits

April 15, 2024 | News, UToday
By Kirk Baird

The University of Toledo is dedicated to investing in our employees.

This week, all University of Toledo and University of Toledo Medical Center faculty and staff will receive an email from HR with an individualized break down of their total compensation package including their annual base earnings and the University's contributions to their employee benefits and tuition remission. Awards and stipends are not included.

"At The University of Toledo and UTMC, we recognize that our success is only possible through the hard work and dedication of our faculty and staff, and HR considers it a priority to foster a rewarding environment that emphasizes excellence," said Mark Bercheni, senior director for total rewards within UToledo Human Resources. "Your total compensation package is one way that UToledo recognizes you for your contributions."

Total Annual Compensation demonstrates the value of your benefits package and time off policies.

This includes:

• Annualized base pay;

• Value of paid time off;

• Annualized University contributions to benefits; and

• Annualized University retirement contributions.

Bercheni added, "A total compensation statement communicates the entire value of an employee's compensation package including wages, which they already see in pay stubs, along with the cost of the benefits that employers provide."

For more information on your benefits, visit the total rewards website.