1- Where is Human Resources Department (Campus) located?

Human Resources Department (Campus) is located in College Hall, Third Floor.

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2- What are the Office hours in the Human Resources Department (Campus)?

Office hours are from 8:00 a.m. to 5:00 p.m. Monday through Friday.

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3- When and where can I get my University Identification Card (ID)?

You can get your ID 24 hours after you sign your contract at the ID Center in Ada Dodge Hall.

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4- How can I get a certificate of employment?

You can get a certificate for employment by submitting a certificate request online from within AUB Campus or filling the Certificate Request Form and sending it to Human Resources Department (Campus). The certificate will be ready within two days.

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1- What do you mean by HIP?

HIP means the Health Insurance Plan of the American University of Beirut.

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2- Who is eligible to enroll in the Plan?

Full-Time academic and non-academic employees engaged for periods over three months and employees on half time or more and for more than nine months with their spouses and dependent children are eligible to enroll in the Plan.

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3- Is enrollment in the Plan mandatory?

No. Enrollment in the Plan is optional.

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4- What are the steps to be taken in order to enroll in the Plan?

You must fill an enrollment form of Membership within 21 days from the date of appointment. After 21 days enrollment will be available if requested in writing only in the following October.

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5- Do I have the choice to use the facilities of other than AUB Hospital and University Health Services (UHS)?

No, to benefit from the HIP coverage, you are required to use exclusively the University facilities except in cases of "Medical Emergency" or in cases of approved leaves.

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6- What do you mean by Medical Emergency?

Medical Emergency means a sudden, unexpected and unforeseen occurrence of condition resulting in an injury or acute illness or accident requiring immediate attention as determined by the medical profession.

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7- What does HIP cover in case of Emergency in Lebanon or abroad?

In case of emergency, HIP will cover for the medical and the hospital services provided at AUB Medical Center at maximum of 80% of the costs charged to HIP by AUB Medical Center.

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8- How am I reimbursed with the costs?

You will submit original itemized bills and receipts together with a report from the attending physician to the Benefits Coordinator's Office of the Human Resources Department (Campus) and after proper investigation by HIP Audit Team Committee, you will be refunded with the costs as provided by the Plan.

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9- In case I am on approved leave from the University, do I have HIP coverage (Annual Leave, Sabbatical Leave, Leave With Pay, Leave Without Pay)?

Yes, you will have HIP coverage during such Leave but the costs to HIP will not exceed 80% of costs charged to HIP by AUB Medical Center i.e. Dr. consultation is L.L.55,000 you will be reimbursed with L.L.44,000 as stipulated under answer No.8.

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10- Do I have HIP coverage for conditions resulting from work related accident, injury or illness?

No, the HIP will not cover work related injury or accident. Such coverage and benefits are paid by the University.

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11- In addition to HIP, do I have any HIP Supplemental Insurance Coverage when I am on approved leave?

Yes, you will have the Major Medical Insurance known by "HIP Supplemental Insurance" and an additional coverage for emergency medical care abroad by a plan called "Marco Polo". For further information, please refer to the Environmental Health, Safety and Risk Management Website /in Coming/FAQ Insurance.doc

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VANGUARD

1- Why was Vanguard selected as the Retirement Program for U.S. Citizen and Resident Alien Employees of the American University of Beirut's (the "plan's") new recordkeeper and investment manager?

American University of Beirut chose Vanguard because of Vanguard's strong program and broad experience. With Vanguard you'll benefit from:

- An expanded lineup of funds.
- Award-winning investment education and targeted investment advice.
- Secure online access to your account and interactive investment management tools.
- Easy ways to consolidate your investments.
- Attentive service from experienced professionals.

You may be familiar with Vanguard as one of the largest mutual fund companies in the world. Vanguard manages 18 million shareholder accounts and more than $920 billion in assets.

Vanguard is well known for its high value, low costs, and exceptional service. Because Vanguard keeps operating costs at the lowest reasonable levels, more of the funds' investment income can be returned to you as an investor. The overall average expense ratio for Vanguard funds in 2004 was 0.23% ($2.30 per year for a $1,000 investment). That's about one-fifth the U.S. industry average of 1.35% ($13.50 for a $1,000 investment), according to fund tracker Lipper Inc.

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2- What's changing about the plan?

All contributions to the American University of Beirut retirement plan with respect to money payable after January 1, 2006 are being invested with Vanguard. This means that all your future statements with respect to such amounts will come from Vanguard, and you will contact Vanguard if you have questions about your account, where to invest your contributions, or how much to save.

The plan's investment options will also be expanded to 15 funds, divided into 2 categories-6 Target Retirement Funds and 9 core funds. Target Retirement Funds are "one decision" funds that simplify investing for retirement. All you need to do is choose the fund that is closest to your expected retirement date. Core funds are designed for investors with the experience and time to research the plan's 9 other fund options. They are funds of various types that, when used in combination, can provide you with a diversified portfolio.

Certain plan provisions are also changing, and you will be provided with information about these changes soon.

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3- What's not changing about the plan?

American University of Beirut's contribution to your account will be the same as it would have been had this change not occurred.

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4- What do I need to do?

You will need to complete an enrollment form and return it to the Benefits Office by February 8, 2006. Your new payroll contributions (and your employer contributions, if you are eligible) will automatically be invested in Vanguard Prime Money Market Fund until you make an investment election and Vanguard is administratively able to effect that election. We will let you know when this will occur.

Your prior beneficiary information will not be automatically carried over to your new account at Vanguard. To designate beneficiaries for amounts at Vanguard, complete a beneficiary designation form and return it to the Benefits Office.

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5- When will new contributions be invested at The Vanguard Group?

Contributions to Vanguard began on January 1, 2006. As indicated above, they will be invested in the Vanguard Prime Money Market Fund until you have elected otherwise and Vanguard is able to effect your elections.

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6- What will happen to my current investments with TIAA-CREF?

You'll need to decide whether you want to transfer your existing balance from TIAA-CREF to Vanguard. Bringing your assets together can simplify your investment program. If you decide to leave your existing balance with TIAA-CREF, you may.

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7- How can I move my balance from TIAA-CREF to Vanguard?

If you decide to move your balances from TIAA-CREF to Vanguard, you'll need to take certain steps to complete the transfer. More information about this process will be provided at a later date. Note that amounts invested in certain TIAA-CREF investments may not be available for immediate transfer.

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8- What investments will be available from Vanguard?

With Vanguard you'll have access to the following funds:

 

Target Retirement Funds
Fund Name	Fund Type
Vanguard Target Retirement 2045 Fund	Balanced (stocks and bonds)
Vanguard Target Retirement 2035 Fund	Balanced (stocks and bonds)
Vanguard Target Retirement 2025 Fund	Balanced (stocks and bonds)
Vanguard Target Retirement 2015 Fund	Balanced(stocks and bonds)
Vanguard Target Retirement 2005 Fund	Balanced(stocks, bonds, and short-term reserves)
Vanguard Target Retirement Income Fund	Balanced (stocks, bonds, and short-term reserves)

 

Core Funds
Fund Name	Fund Type
Vanguard Prime Money Market Fund	Money market
Vanguard Total Bond Market Index Fund	Bond
Vanguard Windsor™ II Fund	Growth and income stock
Vanguard 500 Index Fund	Growth and income stock
Vanguard Morgan™ Growth Fund	Growth stock
Vanguard Mid-Cap Index Fund	Growth stock
MainStay Small Cap Opportunity Fund – Class I	Aggressive growth stock
Vanguard Explorer™ Fund	Aggressive growth stock
Vanguard Total International Stock Index Fund	International stock

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9- What are Target Retirement Funds?

Target Retirement Funds are "one decision" funds that simplify investing for retirement. The funds are comprised of four or five low-cost Vanguard funds. Choose the fund nearest your expected year of retirement. As that date approaches, each fund gradually and automatically reduces risk by shifting from stocks to bonds. A sixth fund, Vanguard Target Retirement Income Fund, maintains a fixed allocation intended to provide retirees with income while preserving the original investment.

There is not an additional fee to own these funds. The only costs you pay are the expense ratios of the underlying funds. Keep in mind that although Target Retirement Funds can simplify investment selection, all mutual fund investing is subject to risk. Diversification does not ensure a profit or protect against a loss in a declining market.

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10- When will I get more information about the transition to Vanguard?

On February 2 and 3, 2006, informational meetings will be conducted by a representative from Vanguard. For employees in Beirut the meetings will be held by videoconference at 4 p.m. and 5:30 p.m. on both days. Employees in New York can attend a meeting on February 2, 2006, at 11:30 a.m. A final session will be held in Beirut on February 6 at 4 p.m. The meeting rooms for both locations will be announced shortly. You'll also receive notice once the new plan becomes accessible.

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11- Where will my contributions be invested?

Your new payroll contributions (and your employer contributions if you are eligible) will automatically be invested in Vanguard Prime Money Market Fund until you make an investment election and Vanguard is able to administratively effect the election. We will let you know when this will occur.

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12- What are the key dates in the transition?

The following table shows the key dates:

 

January 1, 2006	All new contributions to the plan with respect to money payable after this date begin being invested at Vanguard in Vanguard Prime Money Market Fund.
February 2 and 3, 2006	Informational meetings will be conducted by a representative from Vanguard.
February 8, 2006	Deadline to complete an enrollment form and return it to the Benefits Office.
March 1, 2006	Access to the new plan is available through Vanguard.

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13- Will my balance and all my personal, beneficiary, and investment information automatically carry over to Vanguard?

No. Your balance will remain with TIAA-CREF unless you move it to Vanguard.

Your new payroll contribution (and your employer contributions, if you are eligible) will automatically be invested in Vanguard Prime Money Market Fund until you make an investment election and Vanguard is administratively able to effect the election. We will let you know when this will occur.

Your beneficiary information will not be automatically carried over to your new account at Vanguard. To designate beneficiaries with respect to amounts invested with Vanguard, you need to complete a beneficiary designation form.

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14- What if I don't take any action?

Several things will happen:

- Your new payroll contributions (and your employer contributions, if you are eligible) will be invested in Vanguard Prime Money Market Fund until you make an investment election and Vanguard is administratively able to effect that election.
- Your existing balance will remain with TIAA-CREF.
- There will not be any beneficiary information listed on your account with respect to amounts payable after January 1, 2006, which means your account balance will be payable to your spouse, if applicable, or if no spouse, to your estate in the event of your death.

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1- What is Plan B?

Plan B is a plan for non-U.S. Citizen or Resident Alien employees of the University. It is intended to encourage employees to make and continue careers with A.U.B. and to provide them with a retirement benefit.

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2- Can I participate in Plan B?

Yes, if you are a regular full-time faculty member or other academic employee of the University who is a non-U.S. Citizen or Resident Alien Employee.

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3- What do you mean by "Regular"?

Regular means full-time academic personnel appointed for a period of one academic year or more.

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4- How do I enroll or participate in the Program?

By signing enrollment form, Salary Reduction/Salary Deduction Agreement, your investment choice(s) through the carrier and other documents pertaining to your beneficiary through the Benefits Coordinator's Office of Human Resources Department (Campus).

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5- When do I enroll?

On the first day of October coincident with or next following the date of employment.

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6- How much do I contribute?

At least 5% of your compensation which will be deducted from you compensation. The 5% will be withheld monthly by Payroll deduction pursuant to a Salary Reduction or Deduction Agreement.

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7- How much does the University contribute?

The University records in your Memorandum Account a 12 ½ percent of your monthly compensation for each month of active participation. All entries to your Memorandum Account will be converted to U.S. Dollars at the prevailing rate in addition to an amount of interest credited by TIAA in respect of its annuity contract.

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8- Can I contribute more than 5%?

Yes, you may contribute more than 5% with the understanding that the amount in excess of 6% will be subject to Lebanese Income Tax.

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9- What happens to my contributions?

Your contributions are converted into U.S. Dollars at the prevailing rate and are remitted to a carrier or to a trust to be managed, invested, reinvested and distributed according to your investment choice(s).

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10- What kind of benefits do I get under the Plan upon terminating my services with the University?

You will get from the University i) the balance of your Memorandum Account as of the date of your termination of service in the form of a single lump sum cash in U.S. Dollars and ii) your own balance account (contributions) remitted to the carrier in the form of a single lump sum cash.

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11- What do you mean by "Death Benefit"?

Death benefit means an amount paid to a beneficiary (ies) by the University under the following conditions: If you are a participant in the Plan and if you die with less than 24 years of active service, your beneficiary will be paid a death benefit, equal to twice the annual rate of your compensation in effect reduced by any amount previously contributed by the University on your behalf to any retirement or severance pay benefit including Plan B.

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12- If I opt not to join the Retirement Program, what benefit do I get upon terminating my services with the University?

If you are not a participant in the Plan, you will not be entitled to any termination benefits nor your beneficiary will benefit from the death benefit provision.

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13- Can I stop contributing?

Yes, but you must give the University at least one month's written notice.

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14- If I stop contributing to the Plan, can I withdraw my Memorandum Account and my Balance Account?

No. Both balance accounts can be paid to you only upon terminating your services with the University.

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15- If I stop making contributions towards the Plan, when can I start again?

You can start in October of every year.

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16- In case I am on approved leave without pay, do I need to contribute to the Plan?

Your contributions may or may not be continued. Such contribution if continued, will maintain the Death Benefit Provision effective.

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17- During such leave, is there any University contribution?

No, there will be no contribution to the Plan from the University during such leave.

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