Benefit received is a tax-free benefit to the member.
IPS offers its members access to its Group Disability Insurance Program. The plan is a long-term disability plan which allows members, once enrolled, to collect 50% of their regular gross salary up to a monthly maximum of $7,500.00. The premiums are paid from post tax dollars (a reduction in net payroll) so the benefit comes to the member as non-taxable money. Currently the premium is .4% of the member’s gross salary, not to exceed $60.00 per month, a small price to pay for peace of mind.