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Employment Services
| Employment Opportunities
Employee Handbook 1 - Purpose of the Employee Handbook 4 - Staff Wage and Salary Plan 5 - Staff Training and Development 6 - Faculty Personnel Policies and Procedures 7 - Curricular Policies and Procedures 8 - Academic Department and Program Policies and Procedures 9 - Faculty Professional Activities Programs 10 - Faculty Directory, Officers and Committee Memberships 12 - Additional College Policy Statements |
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11.1 Flexible CompensationThe College offers a Flexible Compensation Program to eligible employees. Flexible compensation allows employees to choose between taxable pay and tax-free benefits as part of their total compensation. There are three components to this Program: health insurance for the employee and his/her dependent(s); a medical care reimbursement account; and a dependent care reimbursement account and a taxable cash benefit option. Employees must make initial program elections within 30 days following their date of eligibility. During open enrollment, employees will have the opportunity to change Flexible Compensation Program elections for the following Plan Year (January 1 - December 31). If an employee wants to alter his/her election during the Plan Year, the employee must have experienced a change in family status. A change in family status is defined in the Macalester College Faculty and Staff Flexible Compensation Program document (linked above) and the Health Insurance Enrollment Policies. If you experience a change in family status, contact the Employment Services Department within 30 days following the change. 11.1.1 Health InsuranceThe health insurance plan which includes single, single plus one, or single plus dependent(s) coverage, is available immediately to all on-going full-time employees and for on-going part-time employees classified as .50 - .74 FTE. The current provider is HealthPartners; (outline of the coverage and current monthly premiums). The College and the employee share the cost of coverage for the employee and dependents. Monthly Premium will be deducted on a pre-tax basis from the employee's regularly scheduled paychecks. Pre-tax deductions are subject to IRS regulations which restrict changes during the plan year, with exception to those caused by a change in family status, such as marriage, divorce, or employment change of the insured or their spouse. If your employment start date is between the 1st and the 15th of the month, the premium for dependent coverage must be paid as a full month. No charge will be made if your employment date is after the 15th of the month. Your group coverage will terminate at the end of the month during which you terminate from the College, unless you are eligible for and elect continuation coverage. See Section 11.6. 11.1.2 Reimbursement Accounts (Medical and Dependent Care)All full-time employees and all part-time employees who are classified as .50 - .74 FTE may choose to have pre-tax money deducted from their regular paychecks and deposited into one or both of the reimbursement accounts. Under current IRS rules, any money deposited into a reimbursement account for which the employee does not incur an eligible expense during the Plan Year (January 1 - December 31) is forfeited. Employees who plan carefully may experience tax savings by using a reimbursement account(s). Macalester College has outsourced the Flexible Spending Administration to Benesyst effective January 1, 2004. If you chose to enroll in either the dependent day care reimbursement account or health care reimbursement account, you will receive a confirmation and enrollment kit with claim procedures mailed directly to your home from Benesyst. If you have any questions regarding claim processing or the program, please feel free to call the Benesyst info line at 1-800-670-7131 or access their website at www.benesyst.net. Initial enrollment in the flexible spending accounts is done at your first benefit orientation with Employment Services. Any change during the plan year must be a result of and consistent with a change in family status which would also be processed through Employment Services. Medical Reimbursement AccountEligible employees may begin participation in this program on the first day of the month following their date of hire. Employees who choose not to participate within 30 days following their eligibility date must wait until open enrollment unless they experience a change in family status. An eligible employee may deposit up to $5,000 per plan year (January 1 - December 31) and use the money to pay for medical costs which are not covered by health or dental insurance for themselves and/or their dependents. The total amount deposited by the employee will be deducted in equal installments from their scheduled paychecks. See http://www.irs.gov/publications/p502/ar02.html#d0e205 for examples of eligible expenses. Dependent Care Reimbursement AccountEligible employees may begin participation in this program on the first day of the month following their date of hire. Employees who choose not to participate within 30 days following their eligibility date must wait until open enrollment unless they experience a change in family status. An eligible employee may deposit up to $5,000 per plan year (up to $2,500 for married participants filing separately) and use the money to be reimbursed for certain work-related dependent care (day care) expenses for either children under the age of 13 who qualify as dependents on the employee's federal income tax return or other dependents who qualify as federal tax dependents who are physically or mentally incapable of self-care, regardless of age, such as elderly parents whom the employee supports. If the daycare facility's enrollment is more than six, the facility must be licensed in order to qualify for the dependent care reimbursement account. 11.1.3 Taxable Cash Benefit (Applies to Collective Bargaining Unit Maintenance Contract only)If you chose to receive the taxable cash benefit the amount will be added to the employees paycheck as a taxable cash benefit. |
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