We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byFredrick Welburn
Modified about 1 year ago
The Educational Assistance Plan of [Company Name] An Employee Communication Presentation
©SHRM 20082 Introduction We now accept the fact that learning is a lifelong process of keeping abreast of change. Peter F. Drucker Recognizing the accuracy of this statement by Peter Drucker, acclaimed management consultant and writer, the majority of employers include educational assistance in their employee benefit programs. This assistance is generally provided under Section 127 of the Internal Revenue Code which allows an exclusion of $5,250 per calendar year from an employee’s income for amounts received under an educational assistance program. This sample presentation is intended for presentation to all employees. It is designed to be presented by an individual who has knowledge of the employer’s tuition/educational assistance plan. This is a sample presentation that must be customized to include and match the employer’s own benefit package.
©SHRM 20083 Agenda During this meeting, we will review: What an Educational Assistance Plan is and the benefits it provides. Our plan’s policy including: Purpose Eligibility Covered expenses Service obligation Our plan’s procedures Q & A’s
©SHRM 20084 What is an Educational Assistance Plan? An Educational Assistance Plan is an employee benefit program under which an employer pays for or reimburses an employee’s educational expenses. An Educational Assistance program that complies with Section 127 of the Internal Revenue Code provides a significant benefit to employees as it permits the exclusion of up to $5,250 per calendar year from an employee’s income for amounts received for educational assistance.
©SHRM 20085 What is an Educational Assistance Plan? (cont’d) To qualify under Section 127, a program must: Have a written plan document. Provide employees with reasonable notification of the availability and provisions of the program. Not discriminate in favor of highly compensated employees. Not provide more than 5% of its total benefits each year to employees who own more than 5% of the company stock. The Educational Assistance Plan of [Company Name] is a qualified plan as it meets all of these conditions.
©SHRM 20086 Our Educational Assistance Plan Policy Note to Presenter: The slides for this agenda item are based on a sample Educational Assistance Plan. You will want to customize these for your own Plan. You will also want to distribute a copy of your policy and procedures to attendees at the beginning of this session.
©SHRM 20087 Our Educational Assistance Plan Policy (cont’d) 1.Purpose The purpose of the [Company Name] Educational Assistance Plan is to provide non-taxable educational assistance (to the maximum of $5,250 per calendar year) to eligible employees. 2.Eligibility All full-time, regular employees who have completed one year of service.
©SHRM 20088 Our Educational Assistance Plan Policy (cont’d) 3.Covered Expenses Tuition, registration fees, required fees such as lab or library fees, and required books for a business-related undergraduate or graduate course in an accredited college or university to the maximum of $5,250 per calendar year for successfully completed courses. (Employees will receive ½ of requested amounts initially and the other ½ upon submission of documentation of completing a course with a passing grade.)
©SHRM 20089 Our Educational Assistance Plan Policy (cont’d) 4.Service Obligation An employee who receives advance tuition payments or tuition reimbursement must sign a legally binding agreement that if he/she does not remain employed for at least one year following the completion of the course(s), he/she will be obligated to repay the assistance either through payroll deductions or other legal means.
©SHRM 200810 Our Educational Assistance Plan Procedures (cont’d) Procedures 1.Complete the Educational Assistance Request form available from Human Resources. Attach descriptive information regarding the course(s) you wish to take. If you are requesting reimbursement, attach a copy documenting any payment you have made. If you wish payment to be made directly to the school, be sure start this process at least 30 days in advance of the registration and fee deadline. 2.Meet with your immediate supervisor to discuss your request. If your supervisor approves your request, he/she will sign the form where indicated.
©SHRM 200811 Our Educational Assistance Plan Procedures (cont’d) Procedures (cont’d) 3.Submit the original, signed form along with documentation to Human Resources. 4.Once approved and received by Human Resources, Accounting will send you a check for ½ of your tuition and fees. 5.Upon completion of the course, submit documentation of successful course completion with a passing grade. The remaining ½ of your requested assistance will be reimbursed to you.
©SHRM 200812 Summary Our Educational Assistance Plan is a qualified plan under IRS Code 127. It provides non-taxable educational assistance for employees who take undergraduate and graduate courses up to $5,250 per calendar year. All full-time, regular employees who have completed one year of service are eligible for educational assistance. For full reimbursement of requested expenses, an employee must submit documentation of successfully completing the course with a passing grade and must remain employed for at least one year following completion of the course.
©SHRM 200813 Q & A’s Q - Does our plan cover online courses? A – Yes, as long as the online courses are business-related undergraduate or graduate courses given by an accredited college or university. Q - Do the courses have to be related to my current job? A – No, not as long as it is business-related. For example, the plan would cover an accounting course taken by an employee in the sales department but would not cover a course in art history taken by the employee.
©SHRM 200814 Q & A’s (cont’d) Q - Does this plan cover courses to obtain a MBA? A – Yes. Approval is on a course-by-course basis and each course must be business-related. Q – Do the repayment requirements apply only if I resign and not if I am involuntarily terminated? A – The repayment requirements apply for a resignation (voluntary termination) and for involuntarily terminations, such as those for poor performance. If our company is forced to have a reduction in force or layoff, we would make a decision at that time on whether to enforce this requirement for any employee who loses his/her job.
©SHRM 200815 Questions? Comments?
©SHRM 200816 Course Evaluation Please be sure to complete and leave the evaluation sheet you received with your handouts Thank you for your attention and interest !
Commuter Transportation Benefits Plan An Employee Communication Presentation.
September 2013 COMMUTER TRANSPORTATION BENEFITS PLAN AN EMPLOYEE COMMUNICATION PRESENTATION.
Health Savings Accounts How our plan works and its benefits for employees Presentation Subtitle/Description Presenter’s Name Date.
How Our Performance Appraisal Program Works An Employee Communication Presentation.
Understanding COBRA. ©SHRM Introduction The Consolidated Omnibus Budge Reconciliation Act (COBRA) is a federal law that was enacted in The.
Termination Decisions and Meetings Training for Supervisors Presentation Subtitle/Description Presenter’s Name Date.
HIPAA Privacy Rule Training. ©SHRM Introduction The Employee Benefits Security Administration (EBSA) administers several health care laws under.
September 2013 UNDERSTANDING COBRA. 2 INTRODUCTION The Consolidated Omnibus Budge Reconciliation Act (COBRA) is a federal law enacted in The act.
FLSA Training for Supervisors: Part IV. ©SHRM Introduction The Fair Labor Standards Act (FLSA) was passed in It set standards for child labor,
September 2013 HEALTH SAVINGS ACCOUNTS OUR PLAN AND ITS BENEFITS FOR EMPLOYEES.
Contingent Workers Training for Supervisors: Part IV.
Telecommuting– How Our Program Works An Employee Communication Presentation.
STUDENT FEDERAL WORK-STUDY ORIENTATION.
TUITION REMISSION POLICY February Human Resources Introduction Tuition Remission General Policy Human Resources Responsibilities –Determine Eligibility.
Georgia Tech Educational Assistance Programs BeNedra Williams OHR- Benefits Supervisor.
Educational Incentive Program Investing in your career!
Employee Education Benefit Program. Eligibility Employee must be: Accepted as UTSA Student Currently employed in Benefits Eligible position and.
General Information & Application Process Short-Term Disability Must have at least one year of contributing membership service in the Retirement System.
1 The Benefits of Flex. 2 Today’s Purpose Introduce the Concept of Pre Tax Benefits Eligible Benefits: POP & FSA’s How the Plan WorksWhat’s Next: Your.
Institutional Memberships November Institutional Memberships New Operational Guideline: Memberships Paid by University Funds can be found at
2016 Hospital Employee Scholarship Program Technical Assistance Webinar.
New 403(b) Regulations Pete Gautreau, CPA Partner Danielle Witten, CPA Senior Manager.
NH Department of Education Division of Program Support Bureau of Nutrition Programs and Services Verification Module for National School Lunch Program.
Payments to Individuals Independent Contractor/Consulting Agreements Purchasing Presented by: Michelle Hodge.
Office of Graduate & Professional Education May 21, 2009 Financial Support for Graduate Students.
Your Hidden Paycheck An Employee Communication Presentation.
Travel Update and Review Controller’s Office October 26, 2011.
University Travel Card Annual Training Program Travel Card Coordinator Laverne Beasley Phone: (434) Note: All hyperlinks.
Educational Assistance Plan Chapter 55 Employee Benefit & Retirement Planning Copyright 2009, The National Underwriter Company1 What is it? A plan that.
Office of Graduate & Professional Education 0 Financial Support of Graduate Students May 21, 2009 Part One of Two.
LEAVE OF ABSENCES A TRAINING WORKSHOP PROVIDED BY THE HUMAN RESOURCES DEPARTMENT.
A Guide to Student Support for 2009/10. What’s in this presentation? The Student Support available The Application Process The Assessment Procedure Loan.
Your Cafeteria Plan Benefit Cal State San Marcos Foundation Select F5 To Run Slide Show.
Sexual Harassment Training for Employees. ©SHRM Introduction Sexual harassment training is not required under federal law. However, many states.
Section 125 Premium Only Plan Tax Savings for You and Your Employees.
Tax Related Issues Lisa Riccardi Tax Manager, VonLehman & Company.
UNEMPLOYMENT CONSULTANTS, INC. SPECIALISTS IN CONTROLLING EMPLOYER'S UNEMPLOYMENT TAXES UNEMPLOYMENT PROGRAM SHRM Tuesday, February 12, 2013.
Education Assistance Programs Brantley Eaton Work Life Specialist Office of Human Resources
September 1, 2009 OPEN ENROLLMENT Overview of Workforce Solutions Benefits Package Financial Benefits Update Health and Welfare Update Changes.
Employee Recognition Training for Supervisors Presenter’s Name Date.
Payroll Services Update May 25, 2016 David Lerma, Director of Payroll Services.
Omnicom Group Employee Stock Purchase Plan (ESPP).
Arkansas Department of Emergency Management Arkansas’ Homeland Security & Preparedness Agency Sandy Recovery Improvement Act of 2013 Public Assistance.
Applications of University Travel Policies A Roundtable Discussion Lottayne Widemon – NCA&TSU Yolanda Hopkins – NCA&TSU.
Multnomah County Deferred Compensation Plan How to Access Your Deferred Compensation When You Leave the County Amanda Devilbiss Investment Advisor Representative.
Best Council, BSA Council Training Syllabus 1 Financial Management For Council Events & Activities.
Documenting Disciplinary Issues. ©SHRM Introduction This sample presentation is intended for presentation to supervisors and other individuals who.
6 th Annual Focus Users’ Conference 6 th Annual Focus Users’ Conference Human Resources/ESS Presented by: Andrew Schmadeke & Larry Kreeger Presented by:
Activity Fund Account Sponsor Training. Student Activity Funds Student activity funds belong to the students. These funds are generated through fundraising.
Workers’ Compensation Training for Supervisors presented by the Department of Human Resources.
© 2017 SlidePlayer.com Inc. All rights reserved.