New York , Southern California, and Washington D.C. Office
It is the policy of Asia Society to provide eligible employees with health and welfare, retirement and other benefits, many of which are partially funded by Asia Society. Asia Society reserves the right to modify, amend or terminate its benefit plans as they apply to all current and former employees and to interpret in its sole discretion the terms of the plans of which Asia Society is the administrator. The following statements regarding Asia Society’s benefit plans are not the formal plan documents of the various plans or insurance programs. The complete text of the plans, Trust Agreements and Contracts are maintained by Asia Society at its New York Offices located at 725 Park Avenue, New York, New York 10021. Copies of these official documents are available to employees in Paycom, Asia Society’s HRIS platform. The benefits package is worth 26.5% of salary for full-time staff.
HEALTH AND WELFARE PLANS
Coverage in the Cigna medical plan begins on the first of the month coinciding with or next following the date of employment. Eligible dependents include the employee’s spouse/domestic partner and children until they reach age 26. Asia Society also funds part of the plan with the Difference Card Health Reimbursement Account (HRA). Staff is required to participate in cost sharing for individual, two-member or family coverage.
Coverage begins on the first of the month coinciding with or next following the date of employment. The plan is self-funded by Asia Society and administered by the Guardian Life Insurance Company as a third party administrator. Preventive care is covered at 100%, and after an annual deductible, basic and major care is covered at 70%. Also, orthodontia for adults and children is covered at 70%. The annual maximum benefit is $1,750 per member participating in the plan.
The voluntary vision plan is funded by employees, and Asia Society belongs to the VSP Well Vision network. Coverage begins on the first of the month coinciding with or next following the date of employment. The plan offers both in-network and out-of-network coverage for exams, lenses frames and contacts.
Life/Accidental Death and Dismemberment (AD&D) Insurance
Coverage begins on the first of the month coinciding with or following the date of employment at no cost to staff (100% Employer-Paid Group Coverage). Coverage for life insurance is in the amount of 1 1/2 times salary to a maximum benefit of $100,000 and the same for accidental death and dismemberment.
Voluntary Life/Accidental Death and Dismemberment (AD&D) Insurance
Asia Society offers voluntary Life and AD&D coverages for both employees and their dependents through Mutual of Omaha. These plans are optional benefits, and paid for by employees who enroll via payroll deductions.
Employee coverage is the lesser of 5 times the staff member’s annual earnings up to $500,000 (amounts in $10,000 increments) with a guarantee issue of $100,000. Benefits reduce to 65% at age 65 and to 50% at age 70. Spouse Coverage is the lesser of 100% of the employee’s life amount up to $250,000 (amounts in$5,000 increments) with a guarantee issue of $25,000. Benefits reduce the same as the employee’s reduction, and spousal coverage terminates at age 70. Child Coverage is the lesser of 100% of the employee life amount or $10,000 (amounts in $1,000 increments) with a minimum benefit of $2,000 and a guarantee issue of $10,000.
AD&D benefits are the same as the voluntary term life benefit amounts for employee, spouse and child.
Portability is included. Employees can retain their coverage at the group rate directly with Mutual of Omaha if they terminate from Asia Society. Bi-weekly payroll deduction amounts are listed below.
Long-Term Disability Insurance
Coverage begins on the first of the month coinciding with or following the date of hire at no cost to staff. This policy takes effect after an eligible employee has been totally disabled for 90 days.
Flexible Spending Accounts
Flexible Spending Accounts (FSA) including Medical FSA and Dependent Care FSA are made possible by Section 125 of the Internal Revenue Code. Participants can have money deducted via payroll to use for certain group insurance premiums, eligible medical expenses not covered by insurance and eligible dependent care expenses. By enrolling in the plan, participants pay for these benefits tax-free, meaning FSA payroll deductions are not subject to federal income taxes, social security (FICA) taxes and most state income taxes. By paying less tax, spend-able income increases. Participants are eligible to join the plan on the first of the month following their date of hire.
Commuter Benefit Plans
Pre-Tax Commuter Benefit Plans are made possible by Section 132 of the Internal Revenue Code. Participants receive contributions via payroll deductions to use for work-related bus and train expenses and parking expenses. Participants pay for these benefits tax-free, meaning the pre-tax contributions are not subject to federal income taxes, social security (FICA) taxes and most state income taxes. Staff is eligible to join the plan on the first of the month following their date of hire. Asia Society also offers Post-Tax Commuter Benefits for monthly election amounts that exceed monthly pre-tax limits.
403(b) Defined Contribution Retirement Plan (Employee Contributions and Employer Contributions)
Employee Contributions – Staff can participate in the retirement plan by making their own contributions. Staff may contribute any amount that is within the limitations of the Internal Revenue Code for the purchase of additional retirement benefits. Contributions are made by payroll deduction on a tax-deferred basis. For employee contributions, staff may enroll at any time.
Employer Contributions - A staff member becomes a member of Asia Society’s TIAA retirement plan after 1 year of service in which they have worked 1000 or more hours and attained age 21. Asia Society contributes the equivalent of 6% of salary up to the compensation maximum for that year. Staff are 100% vested after three years from their hire date if they have worked 1000 or more hours in each year.
Group Travel Accident Insurance
All regular full-time and part-time staff engaged in business travel for Asia Society are covered by travel accident life insurance up to a maximum of $250,000.
Work/Life Assistance Program
Asia Society recognizes the challenges of balancing work with the circumstances of everyday life and offers a Work/Life Assistance Program available at no cost to staff and their immediate family. The program, administered by Corporate Counseling Associates (CCA), provides professional consultation and referrals to assist with a wide spectrum of work, family and personal issues and is available to staff as of the date of hire. It’s confidential and available anytime, any day with no limit to the number of issues for which staff and immediate family may use the service.
Paid Time Off (PTO)
Paid time off (PTO) can be used for vacation, appointments, emergencies, or to conduct other personal business. For regular full-time staff, PTO is accrued at the rate of 19 days per year for the first two years of employment and 24 days per year thereafter. For regular part-time staff scheduled to work 24 or more hours per week the amount is pro-rated. On December 31 each year up to a maximum of 20 days or 160 hours can be carried over to January 1 of the following year. The carryover policy does not apply to staff hired in California where 36 days or 288 hours is the maximum accumulation permitted at any one time.
Regular full-time or regular part-time staff scheduled to work 24 or more hours per week do not earn sick time but receive full salary when sick. In situations where an employee becomes disabled resulting in a more lengthy absence, Asia Society will pay sick leave for a maximum of 12 weeks (or 60 days) in a calendar year. A maximum of 10 days (“Leave of Absence” days) per calendar year can be paid as sick leave to care for family members or other reasons described in the sick leave law or ordinance for either California, the District of Columbia, or New York.
Part-time staff scheduled to work less than 24 hours per week, on-call and temporary staff in California, the District of Columbia, and New York may earn a limited amount of sick time if they meet the eligibility requirements of the state sick leave law or local ordinance. This can also be used for family members or other reasons as described in the law or ordinance.
Regular full-time staff members are entitled to 12 paid holidays a year. Regular part-time staff scheduled to work 24 or more hours per week can claim the number of hours they would have worked when a holiday falls on their normal workday.
Global Business Travel Fund
The intent of the Global Business Travel Fund is to enable world staff to broaden their knowledge of Asia Society’s activities and build a more cohesive global organization by working at an Asia Society conference or another Asia Society location. Priority is given to staff with one or more years of service and whose job wouldn’t normally include business travel. Awards of up to $3,500 each are given to cover air and ground travel expenses, hotel and food.
Between July 4 and Labor Day, regular full-time staff in New York, Washington D.C. and California can use Fridays as self-development days (“Self-Development Summer Fridays). During the rest of the year, up to four hours of work time per month can also be taken to engage in self-development activities. This is a unique program to allow staff more time to enhance their skills so they can grow and contribute to Asia Society. Examples include taking an online course, visiting other museums to see how they conduct business, learning an Asian language or volunteering for a cause associated with our mission. New York Staff who work on Self-Development Summer Fridays can use the day for self-development activities at another time if the hours are approved by their manager. Days and hours may also be aggregated with manager approval.
Reimbursement for Self-Development Activities
Asia Society provides reimbursement up to a maximum of $2,000 per Fiscal Year for individual requests and $3,000 for group requests covering costs for self-development activities including tuition, coaching, conferences, seminars, workshops and team building to encourage employees to enhance their professional effectiveness by strengthening their skills, knowledge and competencies applicable to their self-development as well as to the overall mission of Asia Society. All regular full-time staff and part-time staff working a schedule of 24 or more hours per week are eligible to apply.
Staff is entitled to a 20% discount in the Asia Society’s gift store and 15% discount in the Garden Court Cafe.
Revised: April 2023