On October 23, 2014, the Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. See the chart below for further details. 2014 2015 RETIREMENT PLANS Annual Compensation Limits For Retirement Program Purposes 260,000 265,000 Elective Deferrals 403(b) – (for under age 50) 17,500 18,000…Continue Reading IRS Announces 2015 Plan Contribution and Benefit Limits
Tag: Benefits
What’s New with Flexible Spending Accounts
Keeping more in your pocket….. Flexible Spending Accounts (FSAs) are more compelling than ever now that the government has modified its “use-it or lose-it” rule. You can now rollover up to $500 of unused Health Care FSA funds at the end of the plan year, to be used the following plan year. Health Care FSAs…Continue Reading What’s New with Flexible Spending Accounts
Save the Date: Open Enrollment November 1st-14th
Benefits open enrollment is being conducted electronically again this year. You will be receiving an e-mail (ooa Oct 31st) detailing our 2015 benefits as well as step-by-step instructions on how to enroll using BannerWeb. Human Resources will gladly help you through the process; if you have questions please call x2320. All benefits eligible Faculty and Staff are required to…Continue Reading Save the Date: Open Enrollment November 1st-14th
Reminder From HR About CTO Maximums
The maximum amount of CTO (combined time off) that can be carried into the next fiscal year is capped at 24 days (see table below for maximum hourly equivalents). Any CTO in excess of 24 days will automatically be transferred into your SLR as of June 27, for pay period 13 (6/9/14 – 6/22/14). Please plan accordingly. In…Continue Reading Reminder From HR About CTO Maximums
Important Benefits Information
Employee and Family Assistance Program (EFAP) For many years our EFAP benefit has been administered by The Wellness Corporation. Recently, The Wellness Corporation was purchased by E4 Health, a leading provider, under the brand name Lifescope, of holistic life services and wellness solutions for organizations nationwide. The merger of The Wellness Corporation and E4 Health…Continue Reading Important Benefits Information
Important Benefits Reminders
Trouble-free employee benefit plan administration requires a strong partnership between employees and Human Resources. The Human Resources Dept. works diligently each year-end to accurately process the thousands of required or requested benefit record changes, and then we check and double-check our work. However, in the end, we also must rely on you, the employee, to…Continue Reading Important Benefits Reminders
Open Enrollment
Open Enrollment for the 2014 Middlebury College Health & Welfare Benefit Plan is being held from November 1 – 14, 2013. All benefits-eligible employee are required to complete the open enrollment process within this time period even if they do not intend to make benefit changes for 2014. Open enrollment is your opportunity to: • Continue…Continue Reading Open Enrollment
2012 Flexible Spending Claim Submission Deadline
Do you still have money left in your FSA account? If so, time is running out! 2012 Flexible Spending Account Participants have until midnight (ET) on March 15, 2013 to submit claims for services provided in the calendar year 2012. All claims should be sent to CBA Blue via: • Fax at 888.291.0920 • Mail to : CBA…Continue Reading 2012 Flexible Spending Claim Submission Deadline
EAP extended coverage to additional family members
Recently, our Employee and Family Assistance Program (EFAP) has extended the scope of its services. In addition to covering all employees and household members, our EFAP now provides services to all immediate family members. Immediate family members include: Parents Siblings Children by blood, adoption or marriage Spouses/Partners Grandparents Grandchildren Let your…Continue Reading EAP extended coverage to additional family members