From Our Friends in Human Resources and Payroll
If it applies to you, don’t forget to use your flex holidays!
Senior leadership provided 16 hours of flex holiday leave in 2018 for benefited faculty and staff hired before February 1, 2018. With supervisor approval, qualifying benefited faculty and staff can use these flex holiday hours anytime during the 2018 calendar year. Part-time faculty and staff were given leave proportionately.
Be sure to use your flex holiday hours! They expire at the end of the 2018 calendar year and are not eligible for payout. Enter the number of flex holiday hours used on your timesheet under “Special Flex Holiday.”
Visit the Benefits page for the regular holiday schedule and additional information.
Human Resources and Payroll Staff Page
Need to contact an HR/Payroll team member? Visit the up-to-date online staff page!
IRS Limits for Retirement Plan Contributions in 2019
The Internal Revenue Service (IRS) announced adjustments affecting retirement plan contribution limits for the 2019 tax year.
- Participants under age 50 can contribute up to $19,000 (a $500 increase from 2018) to their Supplemental 403(b) Retirement Plan and to their Virginia Deferred Compensation Plan DCP-457.
- Participants age 50 and over can contribute $25,000 (a $500 increase from 2018) to their Supplemental 403(b) Retirement Plan and to their Virginia Deferred Compensation Plan DCP-457.
How to Increase Contributions:
- Complete a salary reduction agreement
- Return to the Benefits team by emailing it to email@example.com, faxing it to 703-993-2601, or dropping it off at the HR & Payroll office in Merten Hall, Room 4100
- Contact ICMA-RC at 1-877-327-5261 or click to log into your account.
Contact firstname.lastname@example.org with any questions.
Posted: December 6, 2018