The University of Michigan offers several housing-related and financial benefits for its faculty and staff, designed to support their well-being and ease their transition into the Ann Arbor area.
Housing and Relocation Benefits:
- Relocation Assistance: The university provides support for relocating faculty and staff, which may include moving expenses and advice on settling into the area.
- Affordable Housing Access: U-M is involved in initiatives to ensure affordable housing options are available for its employees in the Ann Arbor area.
Financial and Retirement Benefits:
- Retirement Contributions: U-M offers a generous two-for-one match for employee contributions to the 403(b) Basic Retirement Plan, with immediate vesting. Employees can also save more through 403(b) Supplemental Retirement Accounts (SRA) and 457(b) plans.
- Comprehensive Insurance Plans: Health, dental, and vision insurance plans are available, including options for dependents. Faculty and staff have immediate access to these benefits starting on their first day of employment.
- Flexible Spending Accounts: Options for healthcare and dependent care expenses help reduce taxable income and ease financial burdens.
Community and Well-being Programs:
- MHealthy Program: A wellness initiative supporting physical, mental, and emotional health through resources like fitness programs, counseling, and preventative care.
For more detailed information about housing and benefits, you can visit the University of Michigan Benefits page.