If you have completed 10 years of creditable service you will receive a benefit from the plan upon retirement. The amount you receive will be based on your age, years of creditable service, the value of each year of service, and the average final compensation of your highest five years of salary. The contributions are fully employer-paid. The annual election amount you choose to set aside is automatically deducted from your gross salary and is deducted for the remaining pay periods for the calendar year. The federal government has placed restrictions on reimbursement accounts.
Payroll deduction is available.
An ATM machine is located on the first floor of Howard Hall. Present your staff identification card to cashier to receive discount. You are allowed to shelter a portion of your annual gross salary from Federal taxes, while your money is forwarded to your chosen Investment Provider. Your Investment Provider directs your money to your chosen investment vehicle, where your account grows tax-free. Obtain brochure from Human Resources.