Month: January 2016

Sick leave cashout program to discontinue after June 2016

Beginning July 1, 2016, no payments for sick leave will be made for any type of separation from employment for TEAMS, USPS and faculty who are not part of the collective bargaining unit.

Verify your benefits deductions for 2016

Whether or not you made changes during Open Enrollment, the New Year is a good time to review your paycheck to ensure your coverage selections are accurate.

New reporting requirements for 2015 federal income tax

In addition to filing your W-2, the IRS has a new requirement starting with the 2015 federal income tax reporting year. Information from IRS Form 1095-B and/or Form 1095-C must now be included with individuals’ income tax return. Please be sure to watch your mail for important tax documents and safeguard your form(s) with your other tax reporting documents.

New flexible spending account, health savings account vendor for 2016

If you participated in a State of Florida flexible spending account or health savings account in 2015, please note that the vendor with which People First has contracted will change from WageWorks to Chard Synder effective Jan. 1.

Employees obtaining health insurance through the Healthcare Marketplace should be on the lookout for tax credit notices

The Affordable Care Act (ACA) requires large employers to offer healthcare coverage to full-time employees. Employees have the opportunity to utilize the Healthcare Marketplace to obtain health insurance coverage and, as such, may qualify for a premium tax credit. Because large employers like the University of Florida may be subject to a substantial penalty if even one full-time employee offered coverage from the university receives a premium tax credit, UF has partnered with Ernst & Young to help administer portions of the ACA.

Tenure, permanent status and promotion workshops available for faculty and staff

Workshops to discuss the preparation of tenure and promotion packets and the university evaluation process for 2016-17 will be held in March.

Vacation leave conversion slated for January 14

The annual vacation leave conversion process will take place at the end of the pay period covering Jan. 1–14, 2016. Employees’ vacation hours exceeding the annual maximum will automatically be converted into sick leave and added to their sick leave balance.

Florida Prepaid open enrollment runs through Feb. 29

Open enrollment for the Florida Prepaid College Plan is underway and runs through Feb. 29. Both the Florida Prepaid Plan and the Florida Investment Plan (a 529 plan) offer affordable ways to save for your children’s future college expenses.

Resolve to save in 2016

Is saving for retirement one of your New Year’s resolutions? The new year is a great time to maximize your tax savings and work towards a secure financial future or take a course to enhance your financial and retirement literacy.

Funding cycle for 2016 Tech Fee grants due Feb. 12

The 2016 funding cycle for Technology Fee grants is now open. “Tech Fee” funding is awarded to projects that can enhance the technology used in UF’s instructional environment. Recent Tech Fee awards include the Levin College of Law Library book scanner, MADE@UF expansion into Infinity Hall, and the iPad checkout service in the Libraries.