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Open Enrollment For 2022 Benefits Is Now Open, Oct 11 - Oct 29

Open Enrollment is an opportunity for all benefits-eligible employees to enroll in or make changes to their benefits for the upcoming year. Open Enrollment is passive this year, which means if you do not make any changes, you will remain in the same coverage for 2022, except for FSA/HSA elections. Visit 2022 Benefits Open Enrollment: Back TUgether for more info. 

 

 

Definition of Terms

Compensation Structure
Consists of pay grades and career bands into which broadly comparable jobs are placed.

Pay Grade
Defines the different levels of pay for jobs relative to their internal job evaluation and external market.

Pay Range
Defines distinct data points within the compensation structure, and is comprised of:

  • Minimum of the range – Employees with entry level experience.
  • 25th Percentile – This percentile represents that 75% of salaries within the identified market, survey, etc. are above.
  • Midpoint of the range – This data point is where 50% of salaries falls below and 50% of salaries is above.
  • 75th Percentile – This represents that 25% of salaries within the identified market, survey, etc. are greater than 75% of the identified market, survey, etc.
  • Maximum of the range – This data point is the highest salary paid within the range while reaching the maximum to pay for a particular position.