Insurance, Pension, Deferred Compensation, Credit Union
Library Board approved August 16, 2005
- Single and family health and dental care plan benefits are available to all full-time employees. Full-time domestic partners meeting the Village Health Care Benefit Program definitions, are also eligible to participate. Details about options and premiums are available in the Library Office.
According to provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), employees and dependents may choose to continue coverage under the library’s health and dental care plans at their own expense after they terminate employment or are no longer eligible for coverage.
Employees whose positions are budgeted for 1,000 hours or more a year must participate in the Illinois Municipal Retirement Fund (IMRF). There is an employee contribution taken as a payroll deduction which is in addition to Social Security contributions. The library pays an employer contribution to IMRF on behalf of eligible participants.
A deferred compensation plan offered by International City Managers Association (ICMA) is available to all employees.
All employees may join the credit union associated with the Village of Oak Park known as Access Credit Union as a means of saving money and obtaining low interest loans.
The Library Office has information about insurance, pension, deferred compensation and the credit union.