Benefits News and Updates

 

Benefits News & Events


SPRING 2016 FIDELITY ONE-ON-ONE SESSIONS
SPRING 2016 SCHEDULE FOR TIAA-CREF ONE-ON-ONE SESSIONS
2016 NYSLRS - EMPLOYEES RETIREMENT SYSTEM - CONSULTATION SITE SCHEDULE
JANUARY 2016 - TIAA-CREF INDIVIDUAL ONE-ON-ONE COUNSELING SESSIONS
NEW LAW ALLOWING SUNY POLICE TO TRANSFER ERS TO PFRS
2016 SUNY VOLUNTARY SAVINGS PLAN UNIVERSAL AVAILABILITY NOTICE
2016 OPTION TRANSFER PERIOD
2016 NYS FLEX SPENDING ACCOUNT -- OPEN ENROLLMENT DEADLINE EXTENDED
2016 NYS FLEX SPENDING ACCOUNT OPEN ENROLLMENT
2016 PRODUCTIVITY ENHANCEMENT PROGRAM (PEP)
2015 SPECIAL SUMMER HEALTH INSURANCE DEDUCTIONS
ANTHEM SECURITY BREACH - BLUE CROSS & BLUE SHIELD
2015 HEALTH INSURANCE OPTION TRANSFER PERIOD
2015 HEALTH INSURANCE OPT-OUT PROGRAM
2015 PRODUCTIVITY ENHANCEMENT PROGRAM (PEP)
2015 SUNY VOLUNTARY SAVINGS PLAN:  UNIVERSAL AVAILABILITY NOTICE
HEALTH INSURANCE MARKETPLACE FOR ACTIVE EMPLOYEES 

FINANCIAL EDUCATION WORKSHOP SERIES:  gET SMARTER ABOUT YOUR FINANCES BY FIDELITY

manarrowsJoin John Farrar from Fidelity for a workshop on managing your financial future.

 

WHEN:     MARCH 22, 2016

WHERE:  COLLEGE UNION FIRESIDE LOUNGE, ROOM 335

R.S.V.P.:  RESERVE YOUR SPOT TODAY AT: getguidance.fidelity.com

 

PRINTABLE WORKSHOP FLIER:  CLICK HERE!

 

John Farar, CFP®

Workplace Planning & Guidance Consultant

Fidelity Personal and Workplace Investing

 


FIDELITY INDIVIDUAL ONE-ONE ONE RETIREMENT COUNSELING SESSIONS

Meet with: 

John Farar, CFP®

Workplace Planning & Guidance Consultant

Fidelity Personal and Workplace Investing

 

calendar

DATES:                                                                        print me

February 22, 2016CU 329Fidelity Printable Flier -- CLICK HERE!
March 22, 2016CU 329Fidelity Printable Flier -- CLICK HERE!
April 26, 2016CU 329Fidelity Printable Flier -- CLICK HERE!

                                                                                              

R.S.V.P.:

Call 1-800-642-7131 OR Reserve a space online at:  fidelity.com/reserve

 

WHERE:  

MacVittie College Union, Room 329 

 

 


TIAA-CREF INDIVIDUAL ONE-ONE ONE RETIRMENT COUNSELING SESSIONS

Meet with Michael Spogli, Financial Consultant of TIAA-CREF | Financial Services

DATES:        

February 9, 2016CU 325
March 8, 2016CU 324
March 9, 2016CU 325
April 5, 2016CU 324
April 6, 2016CU 325
May 3, 2016CU 324
May 4, 2016CU 324
June 7, 2016CU 324

rsvp:      1.800.732.8353 to reserve an appointment

HOURS:      8:00 am to 4:00 pm

WHERE:      MacVittie College Union (Room number is specified next to each meeting date above.)


 

january - june 2016 nEW YORK STATE AND LOCAL RETIREMENT SYSTEM CONSULTATION SITE SCHEDULE

On the dates shown below, you can meet with an information representative to discuss your retirement-related questions and get assistance with filing retirement applications. Appointments are needed for individual consultations at all sites. To make an appointment, call us toll-free at 1-866-805-0990 or at 518-474-7736. What to bring: A photo ID such as driver's license, your latest member annual statement, any recent correspondence from the retirement system and any questions you have.  

ROCHESTER LOCATION:

NYS DOT BUILDING
1530 JEFFERSON ROAD
ROCHESTER, NEW YORK 14623
OPEN EVERY THURSDAY*
SITE WILL BE CLOSED ON MARCH 31, 2016

mark cal

JAN 7, 14, 21, 28

FEB 4, 11, 18, 25

MAR 3, 10, 17, 24

APR 7, 14, 21, 28

MAY 5, 12, 19, 26

JUN 2, 9, 16, 23, 30

 

Other Resources:

TIAA-CREF INDIVIDUAL ONE-ONE ONE COUNSELING SESSIONS

Meet with Michael Spogli, Financial Consultant of TIAA-CREF | Financial Services

DATE:          JANUARY 20, 2016

R.S.V.P.:      1.800.732.8353 to reserve an appointment

HOURS:      9:00 am to 4:00 pm

WHERE:      College Union, Room 325


new law allowing suny police to transfer ers to pfrs

This information affects our University Police employees only.  

 

State University Police Plan - CLICK HERE

 

On December 18, 2015, Governor Andrew Cuomo approved Bill S03221, which now includes changes for SUNY police to become members of the NYS Police and Fire Retirement System (PFRS). As a result of this new law, SUNY police hired on or after December 18, 2015 must be offered enrollment in PFRS. Additionally, through December 31, 2015, SUNY police who are currently enrolled as members of the NYS Employees Retirement System (ERS) have the option of irrevocably transferring their ERS membership into PFRS.

For full details of the bill and information, visit:  ERS-PFRS TRANSFER

SUNY police who are currently enrolled in ERS and have determined that it is in their best personal interest to irrevocably transfer their ERS memberships to PFRS may do so by filing a completed and notarized Member Registration and Transfer of Membership in Accordance with Chapter 561 form by email at: SunyPoliceRegistration@osc.state.ny.us or by fax at: 518.486.4382 by December 31, 2015.

BOTH methods must be followed up with a hardcopy by mail to: NYSLRS - Registrations Unit, 110 State Street, Albany, NY 12244-0001. More detailed filing instructions are posted on the ERS web site at:  http://www.osc.state.ny.us/retire/members/suny_police_transfers.php

 


2016 SUNY VOLUNTARY SAVINGS PLAN UNIVERSAL AVAILABILITY NOTICE

The State University of New York (“SUNY”) provides employees with the opportunity to save for their retirement through the SUNY Voluntary Savings Plan (the “Plan”).  Participation in the SUNY Voluntary Savings Plan is a great way to build your retirement savings and reduce current taxes. 

2016 UNIVERSAL AVAILABILTY NOTICE - SUNY VOLUNTARY SAVINGS PLAN

ELIGIBILITY

All employees of SUNY who receive compensation reportable on an IRS Form W-2 are eligible to participate in the plan. 

Please take a moment to review the plan materials before enrolling. Once you are enrolled, you can review and change the amount of your contributions as often as once per pay period by submitting a new Salary Reduction Agreement form.  The exact date your investment allocations will take effect may vary depending upon the policies of the Investment Provider managing the investment options you chose for Plan contributions.

HOW MUCH CAN I CONTRIBUTE?

 

  • Employees who are age 50 and older may contribute an additional $6,000, up to $24, 000 and/or,
  • Employees who have at least 15 years of full-time service may also contribute an additional $3,000 per year ($15,000 lifetime), up to $21,000,
  • If you are eligible and wish to exceed the $18,000 limit you MUST complete a new Salary Reduction Agreement form for 2016.  Employees who wish to make this change for the first check in 2016 must have the Salary Reduction Agreement to the Payroll Office by Wednesday, December 11, 2015.  If we don't receive a new agreement, your limit will be returned to $18,000 for 2016.

State employees are able to maximize contributions to both the SUNY Tax-Deferred Savings Plans 403(b) and the NYS Deferred Compensation 457 Plan concurrently.

SUNY TAX-DEFFERED SAVINGS PLANS 403(b) AND NYS DEFERRED COMP (457) COMPARISON CHART

To change the amount you are now contributing, please complete a new Salary Reduction Agreement form and return it to the Human Resources & Payroll Service Office, Doty 318.

 


 

2016 option transfer period & 2016 opt-out program

doctor

The 2016 Option Transfer Period runs through December 18, 2015. During this period, employees may change their New York State Health Insurance Program (NYSHIP) plan option for the 2016 plan year.  During the annual health insurance option transfer period starting on November 18, 2015 and continuing through December 18, 2015, you may:

--change your health insurance plan,

--cancel your current NYSHIP coverage and elect the opt-out program, if you meet eligibility requirements,

--re-enroll in the opt-out program if currently enrolled, 

--or no action is required if you do not wish to make changes.

INFORMATION:

Health Insurance Choices for 2016 - this booklet explains the options available to you under NYSHIP.

NYSHIP Rates & Deadlines for 2016 - includes rates as of January 1, 2016 and will assist in navigating the Choices booklet.

Geneseo 2016 Local Health Insurance Plan Rates -- Deductions per paycheck - Local rates document for Empire and HMOs in our Service Area.

Summary of Benefits and Coverage - NYS Department of Civil Service website which provides printable, more detailed information than the CHOICES booklet for each health plan.  Use the link provided to obtain these documents or obtain them by calling Civil Service/NYSHIP at 1-877-769-7447.

Medical Insurances: Health Insurance, Dental & Vision Coverage - SUNY Geneseo's Human Resources & Payroll Services Benefits website.

KEY DATES:

dateDECEMBER 18, 2015 - Deadline for submitting a signed Health Insurance Transaction Form, required enrollment documention, and any other enrollment forms to Human Resources & Payroll Services in Doty Hall 318.  Office Hours are 8:00 am to 5:00 pm, Monday through Friday.

DECEMBER 31, 2015 - New health insurance begins.

DECEMBER 24, 2015 - Earliest paycheck in which an enrollee may see a deduction change in their paycheck.  

 

FORMS:

NYS HEALTH INSURANCE TRANSACTION FORM (PS-404)
NYS OPT-OUT PROGRAM ATTESTATION FORM (PS-409)

 

OPT-OUT PROGRAM - NYSHIP Code #700: 

For printable a printable PDF of this program -- CLICK HERE


An Opt-out program is available to eligible employees who have other employer-sponsored group health benefits in the following groups:  CSEA, M/C, PEF, NYSCOPBA, PBANYS and UUP.  If eligible, you may opt out of NYSHIP coverage in exchange for an incentive payment.  The annual incentive payment is $1,000 for opting out of indiviudal coverage or $3,000 for opting out of family coverage. The incentive payment is prorated and credited in your biweekly paycheck throughout the year (payable only when an employee is elgible for NYSHIP coverage at the employee share of the premium).  NOTE:  Opt-out incentive payments increae your taxable income.

ENROLLMENT IN THE OPT-OUT PROGRAM DOES NOT CONTINUE AUTOMATICALLY FROM YEAR TO YEAR.  To be eligible for incentive payments, you must enroll during each option transfer period and attest to ahving other coverage for the coming plan year.

For eligibility requirements and how to elect this option, see page 15 of the Choices Booklet and also the above printable PDF.   

 


2016 OPEN ENROLLMENT PERIOD EXTENDED - NYS FLEX SPENDING ACCOUNT

November 9, 2015 - November 24, 2015
 
We have been informed that the Open Enrollment deadline has been extended through November 24, 2015.  The online enrollment application is temporarily offline, but will become available again on Thursday, November 19, 2015 at 12:01 am. 
 
Eligible employees who wish to enroll for 2016 may do so by enrolling online at www.flexspend.ny.gov or calling 1.800.358.7202 (select option 1). Make sure you have your most recent pay stub available since you will need your Employee ID number, Department ID and Negotiating Unit code to apply.  You have until 10:00 pm onNovember 24, 2015  to apply for enrollment for 2016.  If you enroll after November 9, a confirmation notice will be sent to you late December. Select your election amount carefully since you will not have an opportunity to change your annual elections after November 24. f you wish to change your 2016 election amounts after you submit your application, submit a new application by 10:00 pm on November 24.  
 
The Flex Spending Account (FSA) is a state employee benefit that saves you money by allowing you to pay for certain expenses with pre-tax dollars. Under this program,
you can choose either or both benefits:

The Health Care Spending Account (HCSAccount) currently lets you set aside any amount from $100 up to $2,550 for the 2016 tax year to pay for health care expenses
that are not reimbursed by your health insurance or other benefit plan. However, only medically necessary medical, hospital, dental, vision, hearing, and prescription drug
expenses for you, your spouse, and your eligible dependents can be reimbursed by your HCSAccount. The maximum contribution may be subject to change annually
since it is indexed to inflation.

The Dependent Care Advantage Account (DCAAccount) is a negotiated employee benefit that helps state employee families who have to pay for custodial child care, elder care or disabled dependent care while they are at work.  Employees may set aside up to $5,000 pre-tax salary and employer contributions may be available to certain employees who qualify.  For details: http://www.flexspend.ny.gov/2016/dcaa.asp#EmployerContribution .

2016 NYS FLEX SPENDING ACCOUNT OPEN ENROLLMENT

Open Enrollment Period: 

Enrollment begins on October 5, 2015 and ends November 9, 2015.

Please Note: 
If you are currently enrolled in a Flex Spending Account for plan year 2015, you must re-enroll to continue participation for plan year 2016.

What is the FSA?

The Flex Spending Account (FSA) is a state employee benefit that saves you money by allowing you to pay for certain expenses with pre-tax dollars. Under this program, you can choose two benefits:

  • The Health Care Spending Account (HCSAccount) currently lets you set aside any amount from $100 up to $2,500 for the 2016 tax year to pay for health care expenses that are not reimbursed by your health insurance or other benefit plan. However, only medically necessary medical, hospital, dental, vision, hearing, and prescription drug expenses for you, your spouse, and your eligible dependents can be reimbursed by your HCSAccount. The maximum contribution may be subject to change annually since it is indexed to inflation.
  • The Dependent Care Advantage Account (DCAAccount) allows your family to set aside up to $5,000 in pre-tax salary for eligible child care, elder care, or disabled dependent care expenses that are necessary for you and your spouse, if you are married, to work.
Who is eligible to enroll?

Employees who wish to enroll in the HCSAccount must:

  • be either permanently employed or expect to be employed for the entire calendar year in which they plan to enroll in the HCSAccount (employees who work on a semester or school year basis are also eligible)
  • be annual-salaried
  • work at least half-time
  • meet the eligibility criteria for enrollment in the New York State Health Insurance Program (NYSHIP) and
  • be either M/C or represented by CSEA, PEF, UUP, NYSCOPBA, Council 82, PBANYS, DC-37, PBA, or NYSPIA.

Casual, seasonal, hourly, per diem, fee-basis, and session employees, as well as retirees, are not eligible to enroll in the HCSAccount. Employees of the SUNY Research Foundation and HRI are not eligible to enroll in either the HCSAccount or DCAAccount.

How to Apply?

Apply online with an easy paperless application process

  • It is easy to enroll in the Flex Spending Account. Just submit your application for enrollment in either or both programs online atwww.flexspend.ny.gov. If you do not have access to the Internet, apply by telephone at 1-800-358-7202. You will need your NYS EMPLID number, which is located on your paystub, to complete your application.

The deadline for 2016 enrollment is November 9, 2015 and is strictly enforced. Please be sure to enroll by November 9. If you are enrolled for the 2015 plan year, you must re-enroll to continue your benefits in 2016.

Employer Contribution

Executive branch state agency employees who are M/C or represented by CSEA, PEF, UUP, Council 82, or NYSCOPBA, or are employed by the Legislature are eligible for the DCAAccount Employer Contribution. Employees of Roswell Park Cancer Institute, NYS Energy Research and Development Authority, and the Environmental Facilities Corporation are also eligible for the Employer Contribution.

The 2016 Plan Year Employer Contribution Rates for Eligible Employees are:

If Your Salary Is... The Employer Contribution Is...

Under $30,000 $800

$30,001 - $40,000 $700

$40,001 - $50,000 $600

$50,001 - $60,000 $500

$60,001 - $70,000 $400

Over $70,000 $300

What’s the catch? Use it or lose it!

The key is to estimate your expenses carefully. According to IRS regulations, if you overestimate your costs you will lose any money that remains in your account at the end of the calendar year.

For more information or to enroll go to:  www.flexspend.ny.gov 

 


2015 Special summer health insurance deductions

Employees who receive their salary in less than 26 paychecks must have extra health insurance deductions taken prior to their removal from the payroll to pay for coverage during the summer months.  All extra deductions will be taken before the employee goes off the payroll for the summer.

Extra deductions, in addition to your regular health insurance deduction will be taken.  The paychecks impacted by the special deductions will be as follows:

 

Part-time Employees that receive 20 paychecks

Check Date                Deductions

5/06/2015                    2 extra deductions for 6/17 & 7/01

5/20/2015                    2 extra deductions for 7/15 & 7/29

6/03/2015                    2 extra deductions for 8/12 & 8/26

 

Full-time Employees that receive 21 paychecks

Check Date                Deductions

5/20/2015                    2 extra deductions for 7/01 & 7/15

6/03/2015                    2 extra deductions for 7/29 & 8/12

6/17/2015                    2 extra deductions for 8/26 & 9/09


 

Anthem Security Breach-BlueCross & BlueShield-Impacts NYS Empire Plan enrollees

Anthem, Inc., the parent organization for Empire BlueCross and BlueShield (administrator for The NYS Empire Plan) reported that an extensive security breach of  member data occurred, including names, dates of birth, member IDs/Social Security numbers, addresses, telephone numbers, e-mail addresses and employment information of current and former members (including dependents & retirees). In the coming weeks, Anthem will send letters to impacted members home addresses with an offer of free credit monitoring and identity protection services.  Anthem has advised that their investigation to date indicates no medical claim data was compromised and information accessed did not include credit card numbers.

Current and former enrollees should stay informed and take prudent preventative measures. Please direct your inquiries to www.anthemfacts.com or call toll-free 1-877-263-7995. The following web site includes a FAQ and will be updated as additional information becomes available:

http://www.anthemfacts.com/
http://www.anthemfacts.com/faq

 


2015 HEALTH INSURANCE OPTION TRANSFER PERIOD

The New York State Health Insurance Choices Booklet and Plan Rates have been released for Plan Year 2015.  Here is all the relevant information:

  • The NYSHIP Option Transfer Period 2015 ends January 16, 2015.
  • To make changes to your health insurance plan, complete the  PS-404 Health Transaction Form.
  • Forms must be submitted to Human Resources by January 16, 2015. (Close of business).
  • Health Coverage for Plan Year 2015 will be effective January 1, 2015.
  • The earliest paycheck in which a deduction change will be made is the check of December 31, 2014. (If you change plans, because of processing time, most paycheck changes will be made later in January and will include retroactive adjustments for coverage beginning January 1, 2015.)
  • No action is required if you wish to keep your current health insurance option and you still qualify for your current plan.

 I encourage you to complete the option transfer forms as soon as possible. This will help to avoid retroactive premium adjustments and should allow you to receive new health plan identification cards timely. Choices 2015, a summary of health insurance plans, and Rates and Deadlines are available at:   Medical Insurance Information.

 

Choices Book 2015:

Choices 2015 for All Employees

 

Local Plan Rates 2015:

Local Plan Rate Chart 2015

 

Choosing the health insurance plan to cover your needs and the needs of your family requires careful research. As with most important purchases, there is more to consider than cost. The first step in making a good choice is to understand the similarities and the differences between your NYSHIP options. There are two types of health insurance plans available to you under NYSHIP: The Empire Plan and NYSHIP Health Maintenance Organizations (HMOs). The Empire Plan is available to all employees. Specific NYSHIP HMOs are available in the various geographic areas of New York State. Depending on where you live or work, one or several NYSHIP HMOs will be available to you. The Empire Plan and NYSHIP HMOs are similar in many ways, but also have important differences. In addition to reviewing the Choices 2015 booklet for co-pay costs, read through the booklet for helpful information that highlight differences in your available health plan choices. 

NYSHIP Online – For more information.


2015 HEALTH INSURANCE OPT OUT PROGRAM

OVERVIEW:

Effective January 1, 2015, the New York State Health Insurance Program (NYSHIP) will again offer the Opt-out Program.  This program allows eligible employees, who have other employer sponsored group health insurance, to opt-out of their NYSHIP coverage in exchange for an incentive payment. 

Other employer sponsored group health insurance coverage means coverage through employment other than employment with the Executive, Legislative or Judicial branch of New York State government, including the State University of New York. Therefore, if the other coverage is through a NYS employee or retiree, the employee is not eligible for the Opt-out.

 

ELIGIBILITY:
To be eligible for the Opt-out Program, an employee must meet the eligibility criteria below to receive the incentive payment:

  • The employee must currently participate in the Opt-out Program; or
  • The employee must have been enrolled in NYSHP continuously from April 1, 2014 (or the first date of NYSHIP eligibility if that date is later than April 1), through the end of 2014 (enrollment is required only when the enrollee is eligible for coverage with an employer contribution); and
  • The employee must provide plan information and attest to having other employer sponsored group health insurance coverage in effect as of the Opt-out effective date.

 

INCENTIVE PAYMENTS:
The annual incentive amount for opting out of NYSHIP coverage is $1,000 for Individual coverage or $3,000 for Family coverage. The incentive payments will be prorated and reimbursed through the employee's biweekly paychecks throughout the year (payable only when an employee is on the payroll and meets the requirements to be eligible for the State to contribute to the cost of NYSHIP coverage).

The incentive amount will be credited to the employee's bi-weekly payroll check and will be treated as taxable income. The bi-weekly incentive amounts will be $38.47 for opting out of Individual coverage ($1,000/26 paychecks) or $115.39 for opting out of Family coverage ($3,000/26 paychecks).

 

WHAT DO I NEED TO DO?

Employees currently participating in the Opt-out Program:  Employees currently participating in the Opt-out Program will receive a notice from the NYS Employee Benefits Division regarding Opt-out for Plan Year 2015.  Forms that are not received timely will end employee's payment with the last bi-weekly payroll check for plan year 2014.

Employees who are currently enrolled in NYSHIP in a Health Insurance Option or who are currently participating in the Opt-out program must elect to opt out during the Annual Option Transfer Period and complete the following forms: 

PS – 404 Health Insurance Transaction Form

PS – 409 Opt Out Attestation Form

The actual effective date of the Opt-out (i.e., the date NYSHIP coverage will no longer be in effect) will be January 1, 2015All forms will need to be submitted to Human Resources/Payroll Services; Doty 318 during the Annual Option Transfer Period which ends January 16, 2015.

 


2015 PRODUCTIVITY ENHANCEMENT PROGRAM (PEP)

Overview:

The Productivity Enhancement Program (PEP) for 2015 allows eligible employees to exchange previously accrued annual leave (vacation accruals) and/or personal leave in return for a credit to be applied toward their employee share of NYSHIP premiums on a bi-weekly basis.  In no case can the credit available under the program be applied to the employer share of NYSHIP premiums.

Enrollment:

The enrollment period for the 2015 plan year is now through November 28, 2014.

Return completed enrollment forms to Human Resources & Payroll Services – DOTY 318 by End of Day November 28, 2014.

Forms:

CSEA, PEF, M/C Classified Enrollment Form – Click Here

UUP Enrollment Form – Click Here

M/C Professional Enrollment Form – Click Here

 

CSEA, PEF, M/C Classified (NU 2, 3, 5 & 6): 

Eligibility:

  • For CSEA and PEF represented employees, be a classified or unclassified service employee in the Executive branch in a title at Salary Grade 24 or below or equated to a position at or below Salary Grade 24;
  • For M/C employees, be a classified or unclassified service employee in the Executive branch in a title at Salary Grade 23 or below or equated to a position at or below Salary Grade 23.
  • Have a minimum combined balance of annual and personal leave of at least 8 days after making the forfeiture; and
  • Be a NYSHIP enrollee (contract holder) in either the Empire Plan or an HMO at the time of enrollment.

CSEA, PEF, M/C Classified (For full plan description – click here):

Full-time employees in Salary Grades (SG) 1–17 (or non-statutory employees equated to SG 1–17, or employees with an annual salary rate no greater than job rate of SG 17) who enroll in the program may elect to forfeit a total of either 3 days (22.5 or 24 hours for 37.5 and 40 hour workweeks, respectively) or 6 days (45 or 48 hours for 37.5 and 40 hour workweeks, respectively) of annual and/or personal leave standing to their credit at the time of enrollment in return for a credit of up to either $500 or $1000, respectively, for the 2015 program year to be applied toward the employee share of NYSHIP premiums deducted from biweekly paychecks during the program year, January 1–December 31, 2015.

Full-time CSEA- and PEF-represented employees in SG 18–24 (or non-statutory employees equated to SG 18–24, or employees with an annual salary exceeding the job rate of SG 17 but with an annual salary no greater than the job rate of SG 24), who enroll in the program will be eligible to forfeit a total of either 2 days (15 or 16 hours for 37.5 and 40 hour workweeks, respectively) or 4 days (30 or 32 hours for 37.5 and 40 hour workweeks, respectively) of annual and/or personal leave standing to their credit at the time of enrollment in return for a credit of up to either $500 or $1000, respectively, for the 2015 program year to be applied toward the employee share of NYSHIP premiums deducted from biweekly paychecks during the program year. In cases where the payroll percentage of these employees results in a leave forfeiture that is not a quarter-hour increment, the leave forfeiture should be rounded to the nearest quarter-hour (rounding up when the resulting figure is exactly between two quarter-hour increments).

Full-time M/C employees in SG 18–23 (or non-statutory employees equated to SG 18–23, or employees with an annual salary exceeding the job rate of SG 17 but with an annual salary no greater than the job rate of SG 23), who enroll in the program will be eligible to forfeit a total of either 2 days (15 or 16 hours for 37.5 and 40 hour workweeks, respectively) or 4 days (30 or 32 hours for 37.5 and 40 hour workweeks, respectively) of annual and/or personal leave standing to their credit at the time of enrollment in return for a credit of up to either $500 or $1000, respectively, for the 2015 program year to be applied toward the employee share of NYSHIP premiums deducted from biweekly paychecks during the program year. In cases where the payroll percentage of these employees results in a leave forfeiture that is not a quarter-hour increment, the leave forfeiture should be rounded to the nearest quarter-hour (rounding up when the resulting figure is exactly between two quarter-hour increments).

 

UUP (NU 8):

Eligibility:

  • Be employed on a Calendar Year or College Year basis;
  • Be a full-time employee with an annual salary below $90,022 OR part-time employee with an annual full-time equivalent salary below $90,022;
  • Be an employee covered by the 2011-16 New York State/UUP Collective Bargaining Agreement;
  • Be a NYSHIP enrollee (contract holder) in either the Empire Plan or an HMO;
  • Be eligible to receive an employer contribution toward NYSHIP premiums (or be on leave without pay from a position in which the employee is normally eligible for an employer share contribution toward NYSHIP premiums); and
  • Have a sufficient annual leave balance to make the full leave forfeiture without bringing their annual leave balance below 8 days or a prorated balance for part-time employees respectively

UUP (For full plan description – click here):

Eligible full-time employees with an annual salary of $62,998 and below who enroll in PEP for the 2015 plan year will forfeit a total of 3 days of annual leave at the time of enrollment in return for a credit of up to $500 to be applied toward the employee share of NYSHIP premiums.  Additionally, eligible full-time employees earning more than $62,998 and below $90,022 who enroll in PEP for the 2015 plan year will forfeit a total of 2 days of annual leave at the time of enrollment in return for a credit of up to $500 to be applied toward the employee share of NYSHIP premiums.  Eligible part-time employees who enroll in PEP will forfeit annual leave on a prorated basis in accordance with their payroll/employment percentage in return for a prorated credit. 

The credit will be divided evenly among the pay periods in the 2015 plan year to offset the cost of the enrollee’s employee share of the NYSHIP premium, up to the total biweekly employee premium cost.  The biweekly value of the credit will NOT be adjusted for enrollees who do not pay all biweekly employee share deductions during the plan year. Therefore, employees who do not expect to make all employee share premium payments during a plan year may not wish to participate in that plan year.

 

M/C Professional (NU 13):

Eligibility:

  • Be employed on a Calendar Year or College Year basis;
  • Be a full-time employee with an annual salary no greater than $79,003 at the time of enrollment OR part-time employee whose annual salary rate does not exceed $79,003;
  • Be a NYSHIP enrollee (contract holder) in either the Empire Plan or an HMO;
  • Be eligible to receive an employer contribution toward NYSHIP premiums (or be on leave without pay from a position in which the employee is normally eligible for an employer share contribution toward NYSHIP premiums);and
  • Have a sufficient annual leave balance to make the full leave forfeiture without bringing their annual leave balance below 8 days or a prorated balance for part-time employees respectively

M/C Professional (For full plan description – click here):

In the 2015 plan year, eligible full-time employees earning up to $60,498 who enroll will forfeit a total of either 3 days of Annual leave at the time of enrollment in return for a credit of up to $500, or a total of 6 days for a credit of up to $1,000.  Additionally, eligible full-time employees earning more than $60,498 and up to $79,003 who enroll will forfeit a total of either 2 days of Annual leave at the time of enrollment in return for a credit of up to $500, or a total of 4 days for a credit of up to $1,000.  All eligible part-time employees who enroll in PEP will forfeit Annual leave on a prorated basis in accordance with their payroll/employment percentage in return for a prorated credit.  This credit will be applied to the biweekly employee share NYSHIP premium deductions paid for the 2015 NYSHIP plan year.

The credit will be divided and distributed over 26 pay checks issued in 2015 and applied toward the biweekly premium payments required for coverage under NYSHIP in that plan year, up to the biweekly cost of the enrollee’s employee share of NYSHIP premium.  The biweekly value of the credit will NOT be adjusted for enrollees who do not pay all biweekly employee share deductions during the plan year. Therefore, employees who do not expect to make all employee share premium payments during a plan year may not wish to participate in that plan year.

 


2015 SUNY VOLUNTARY SAVINGS PLAN UNIVERSAL AVAILABILITY NOTICE

The State University of New York (“SUNY”) provides employees with the opportunity to save for their retirement through the SUNY Voluntary Savings Plan (the “Plan”).  Participation in the SUNY Voluntary Savings Plan is a great way to build your retirement savings and reduce current taxes. 

Whether you want to enroll in the plan for the first time, or you are already enrolled but wish to change the amount of your deferral, you can accomplish your goal by filling out a “Salary Reduction Agreement” form.  You can obtain a copy of the Salary Reduction Agreement and information on the plan from the SUNY Benefits Web Site. 

 

ELIGIBILITY

All employees of SUNY who receive compensation reportable on an IRS Form W-2 are eligible to participate in the plan. 

Please take a moment to review the plan materials before enrolling. Once you are enrolled, you can review and change the amount of your contributions as often as once per pay period by submitting a new Salary Reduction Agreement form.  The exact date your investment allocations will take effect may vary depending upon the policies of the Investment Provider managing the investment options you chose for Plan contributions.


The Tax-Deferred Plans listed below provide a way for you to contribute to a retirement account on a pre-tax basis through payroll deduction.  Your contributions, plus earnings are not taxed until you withdraw the funds.  Usually this will be during your retirement, when your income may fall within a lower tax bracket.

 

HOW MUCH CAN I CONTRIBUTE?

For 2015 you can contribute up to $18,000 per year.

If you are age 50 or older anytime in 2015, you can contribute an additional $6,000 to your tax-deferred account, for a maximum of $24,000.

If you have worked for SUNY for more than 15 years you may be eligible to contribute up to an additional $3,000.  To do this you must obtain a calculation from your Investment Provider indicating that you are eligible to defer the additional amount.  Please send the calculation along with a new Salary Reduction Agreement indicating the annual amount to be contributed to the Human Resources & Payroll Services Office, Doty 318.

Each participant only gets one limit for contributions to all 403(b) plans, so if you are also a participant in a 403(b) plan of another employer, your combined contributions to that plan and to the SUNY Tax-Deferred Annuity Plan in 2015 are generally limited to $18,000.  If you do participate in more than one 403(b) plan, you are responsible for tracking and reporting the amount of all of your contributions to the plans so that the total amount of all your contributions to all plans in which you participate do not exceed the limit. Note also that the sum of all of your contributions, and those of your employers, to all 403(b) plans that you participate in are generally limited to the lesser of $53,000 or 100% of your compensation in 2015.

State employees are able to maximize contributions to both the SUNY Tax-Deferred Savings Plans 403(b) and the NYS Deferred Compensation 457 Plan concurrently.

WHAT DO I NEED TO DO?

If you are enrolling in a plan for the first time, you will need to complete the appropriate Investment Provider enrollment materials in addition to a Salary Reduction AgreementForm.

If you are currently enrolled and wish to contribute the same BI-WEEKLY amount in 2015, no action on your part is necessary unless you are currently contributing additional monies under the Age 50 or “15 year catch-up rule outlined above.  Please check your pay stub to be sure your current bi-weekly contribution (Code 404, 408 or 415 for NYS employees) multiplied by the number of pay periods in the year does not exceed the allowable  limit.

 

Please be mindful that if you made a change mid year, you will need to make sure that your current biweekly amount will result in the correct annual amount you want deferred for 2015.

To change the amount you are now contributing, please complete a new Salary Reduction Agreement Form and return it to the Human Resources & Payroll Service Office, Doty 318.


HEALTH INSURANCE MARKETPLACE - FOR ACTIVE EMPLOYEES

The Health Insurance Marketplace, commonly known as the Health Insurance Exchange, was created under the Patient Protection and Affordable Care Act (Federal Healthcare reform).

What is the Health Insurance Marketplace?

The Marketplace is designed to help you find health insurance that meets your needs and fits your budget.  The Marketplace offers “one stop shopping” to find and compare private health insurance options.  You may also be eligible for a new kind of tax credit that lowers your monthly premium right away.  Open Enrollment for health insurance coverage through the Marketplace begins October 1, 2013 for coverage starting as early as January 1, 2014.

Does Employer Health Coverage Affect Eligibility for Premium Savings through the Marketplace?

Yes.  If you have an offer of health coverage from your employer that meets certain standards, you will not be eligible for a tax credit through the Marketplace and may wish to enroll in your employer’s health plan.  However, you may be eligible for a tax credit that lowers your monthly premium, or a reduction in certain cost – sharing if your employer does not offer coverage to you at all or does not offer coverage that meets certain standards.  If the cost of a plan from your employer that would cover you (and not any other members of your family) is more than 9.5% of your household income for the year, or if the coverage your employer provides does not meet the “minimum value” standard set by the Affordable Care Act, you may be eligible for a tax credit¹.

 Note:  Because the State provides very comprehensive benefits and pays a high percentage of the cost of coverage, the vast majority of State employees who are eligible for NYSHIP coverage will not be able to obtain lower cost coverage under the Marketplace. A customer service representative for The Marketplace can be reached at 1-855-355-5777.

If you purchase a health plan through the Marketplace instead of accepting health coverage offered by your employer, then you may lose the employer contribution (if any) to the employer-offered coverage.  Also, this employer contribution-as well as your employee contribution to employer-offered coverage-is often excluded from income for Federal and State income tax purposes.  Your payments for coverage through the Marketplace are made on an after-tax basis.

 How Can I get More Information:

More information about the Marketplace can be found at http://www.nystateofhealth.ny.gov or https://www.healthcare.gov.  NYSHIP's General Information Book provides details of the coverage provided to employees.  It can be access by clicking here.

¹An employer-sponsored health plan meets the “minimum value standard” if the plan’s share of the total allowed benefit costs covered by the plan is no less than 60% of such costs.