MIT Benefits - Faculty
Faculty members at MIT are eligible for comprehensive benefits. Here is more information about each of them.
MIT Health Plans
MIT offers three health plans, the MIT Traditional, the MIT Choice, and the MIT High Deductible health plans. Find out which one is right for you.
MIT Dental Plans
MIT offers two dental plan options that pay all or a portion of the expenses for many necessary dental procedures and supplies.
MIT Vision Plans
MIT offers an optional vision plan through EyeMed Vision Care that covers the cost of eyeglasses or contact lenses. This coverage is separate from the eye health care provided by MIT health plans (such as checkups and doctor's visits).
MIT Supplemental 401k
The MIT Supplemental 401(k) Plan helps eligible employees save and invest for retirement while receiving certain tax advantages. MIT will match up to 5% of your pay in contributions to the 401(k) Plan.
MIT Pension Plan
Under the MIT Pension Plan, also known as a Basic Retirement Plan, MIT provides a basic retirement benefit that will be paid to you upon your retirement as a monthly income for the rest of your life. If you work for MIT for 10 years or fewer, you will have the option of taking your benefit as a single lump sum. Enrollment is automatic, and you do not contribute. MIT pays the full cost of the Pension Plan.
Basic Life Insurance and Supplemental Life Insurance
MIT provides the Basic Life Insurance Plan to all eligible employees with coverage up to $50,000. Enrollment is automatic, and MIT pays the full cost of Basic Life Insurance. You can also choose to purchase additional life insurance through MIT's Supplemental Life Insurance Plan that is separate from your MIT Basic Life Insurance.
Spouse and Dependent Life Insurance
You have the option of purchasing life insurance for your eligible dependents — spouse/domestic partner or child(ren) — through MIT's Dependent Life Insurance Plan.
MIT provides a long-term disability plan for all eligible employees with coverage up to $15,000. Enrollment is automatic, and MIT pays the full cost of your coverage.
MIT provides an accidental death & dismemberment insurance plan with coverage up to $100,000
Long Term Care Insurance
You can purchase long-term care insurance for yourself and your eligible dependents — spouse/domestic partner, parents, grandparents, in-laws, grandparents in-law and siblings — through MIT's Long-term Care Insurance Plan
MIT offers loans to eligible employees to help offset the financial burden of providing an undergraduate or graduate college education to eligible dependent children.
Back up Child Care
MIT employees can receive backup care at home through Care.com BackupCare, provided by Parents in a Pinch - whether the need is child care, care for an aging parent, another family member who needs assistance, or even yourself.
MIT reimburses eligible employees for qualified adoption expenses up to $5,000 per finalized adoption, not to exceed a lifetime benefit of $20,000 per employee.
Children's Scholarship Plan
The Children's Scholarship Plan provides grants for your child to attend MIT and accredited universities outside of MIT.