Human Resources and Payroll

 

SPOTLIGHT ON MASON


 

Posted April 9, 2014

Health and Flex Open Enrollment Dates and Premium Award Information for 2014-2015 Plan Year

Health and Flexible Spending Account (FSAs) Open Enrollment is scheduled for May 1 through May 23, 2014. Please follow open enrollment updates on the Benefits site.

Posted January 16, 2014

New Recordkeeper for the 457 Deferred Compensation Plan

On January 1, 2014, VRS changed recordkeepers for the 457 Deferred Compensation Plan from ING to ICMA-RC. While the fund options did not change, the process for enrolling and making changes has changed. VRS is now requiring employees to call ICMA-RC directly at 877.327.5261 or go online to make changes to their 457 plans.

Any change made in one month will be effective on the 1st day of the following month (e.g. a change made in January will go into effect on February 1 and will show on the February 16th pay check). Please note that any time employees wish to change, stop or start deductions, they will need to call ICMA-RC prior to the month in which the change goes into effect.

Please contact Benefits at benefits@gmu.edu or 703.993.2600 with any questions.

Posted January 16, 2014

Additional Leave Hours

Just before winter break, the Governor granted an additional 4 hours of holiday leave for Tuesday, December 31, 2013.  Because Mason was already closed for winter break, the 4 hours have been added to eligible employee’s leave balances as a special flex holiday.  The hours can be used through December 24, 2014.

Posted January 15, 2014

W-2s are Available Online: Download Yours Now!

Your 2013 W-2s are available on line. Retrieving your electronic copy is easy and immediate. Simply log in to http://patriotweb.gmu.edu, select "Employee Services," then "Tax Forms," and "W2 Year End Earnings Statement." By electing to access your W-2 form electronically, a Mason generated paper W-2 will not be mailed to you. Going electronic puts time on your side; download yours today.

Please contact the W-2 Hotline at 703-993-2311 or w2info@gmu.edu should you have questions.

For those who do not download an electronic copy, paper W-2 forms will be mailed no later than January 31, 2014. Please remember: You must ensure that your Permanent Mailing Address is accurate in Patriot Web Self Service.

Posted January 14, 2014

Employee of the Month

Mason's best and brightest deserve recognition. If you know a superstar, nominate them for Mason’s employee of the Month. Additional information can be found at Employee of the Month. Contact HR Reward & Recognition at awards@gmu.edu with questions.

Posted December 12, 2013

2014 Tax Implications for Employee Graduate Tuition Waiver

Per the Internal Revenue Service (IRS), beginning with calendar year 2014, employees who currently utilize a tuition waiver for graduate study will have amounts in excess of $5,250 reported as taxable earnings. This means that your tax withholding will increase in the pay period in which the excess amount is reported. We expect to report amounts in excess of $5,250 as taxable income in October 2014. Anything less than or equal to $5,250 is not reportable.

Tuition waivers for employees in undergraduate programs are not impacted by this change.

Additional information is available in IRS Publication 970, Chapter 11.

If you have any questions, please contact Mira Halilovic at 703.993.2625 or mhalilov@gmu.edu.

Posted December 11, 2013

VRS Hybrid Plan Information Session Available Online

The VRS Hybrid Plan information session is now available online (once on the site, please click on the "Silverlight" tab in the upper right corner of the site). 

In-person sessions have also been scheduled. For dates, times, and locations, please visit http://hr.gmu.edu/learning and click on the "Course Calendar" tab.  The next in-person session is scheduled for Thursday, January 9 to be held in Fairfax and videoconferenced to Arlington and Prince William.

Posted November 25, 2013

VRS Hybrid Plan and Changes to the 457 Record Keeper

The Virginia Retirement System (VRS) is adding a new retirement plan as of January 1, 2014. We want to bring it to your attention because it will impact:

• all new classified staff who are hired January 1, 2014 and after as they will be automatically enrolled in the Hybrid Plan;
• all new faculty hired January 1, 2014 and after as they will choose between the Optional Retirement Plan (ORP) and the Hybrid Plan;
• all current VRS members, as they will have the option to change to the Hybrid Plan during an opt-in period from January 1 – April 30, 2014.

At the same time, the record keeper for 457 accounts (both supplemental accounts and the defined contribution portion of the Hybrid Plan) will be changing as of January 1, 2014 from ING to ICMA-RC. For current faculty and staff who have supplemental 457 accounts, your investment options will not change, only the vendor who manages the account.

HR & Payroll is holding information sessions on the new Hybrid plan and the move to ICMA-RC. For details, please visit http://hr.gmu.edu/learning. We plan to have a video version of the session online shortly.

You can also learn more about the plan directly from VRS. If you have any questions, please call 3.2600 and ask for the Benefits Team or email them directly at benefits@gmu.edu.

Posted November 4, 2013

Retirement Tax Savings Limits for 2014

The IRS did not change the limits for 2014. Participants under age 50 can contribute up to $17,500 in the Supplemental Retirement Plan (403(b)) program and the Virginia Deferred Compensation Plan (DCP) (457(b)). Participants age 50 and over can contribute $23,000 in each plan. If you wish to change your contribution, please complete a 403(b) salary reduction agreement and/or a 457 salary authorization agreement (2014 procedure coming soon) and return to benefits at MS 3C3.

 

 

 

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