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CU-FLEX
PLAN
Health Care Flexible Spending Account
Dependent Care Flexible Spending Account
The following information concerns CU-FLEX PLAN payroll deductions and dates of service from July 1, 2009 to June 30, 2010.
ENROLLMENT in the CU-FLEX PLAN must be completed within 31 days of a qualifying event as defined by the Plan Administrator and the IRS, e.g. New Hire, marriage or birth of a child, or during the open enrollment period (generally held in April/May)
Participation
in the CU-FLEX accounts IS NOT automatic. You must (re)enroll
during each open enrollment to begin or continue deductions. Enrollment
is IRREVOCABLE.
This Internal Revenue Code Section 125 Flexible benefit plan reduces
your taxable income by allowing you to pay for eligible out-of-pocket
health care or dependent care expenses from the contributions you have
made into the respective pre-tax spending account. You do not pay income
taxes on these dollars. Any expenses reimbursed via these accounts cannot
be claimed on your income tax return.
When you or your qualified dependent(s) have an eligible health care or dependent care expense, you submit the claim to Application Software, Inc., (ASI), the CU-Flex Plan Administrator, for reimbursement. These dollars are reimbursed to you from your account. (Claim forms are available via the internet at www.asiflex.com)
Carefully consider your contribution amount. The only way to access your money in this account is by filing a claim for reimbursement of eligible expenses. If you set aside more money than you actually spend and submit receipts for, you will lose the unspent difference.
Health
Care Flexible Spending Account
Allows pre-tax deduction from your salary, minimum of $10 per month
up to $6,000 each plan year, for eligible out-of-pocket expenses not
covered by your insurance.
Dependent
Care Flexible Spending Account
Allows pre-tax deduction from your salary, minimum of $10 per month
up to $5,000, to pay for the cost of caring for your qualified dependents
so you, (and your spouse if you are married) can work. The $5,000 maximum
contribution is per household.
The contribution you commit to with enrollment is for the plan year (July 1-June 30). You are responsible for keeping track of your total calendar year (Jan 1-Dec 31) contributions, including any contributions made by your spouse, for IRS/tax purposes.
Additional
information, questions, or to enroll
Print and complete the Enrollment/Change
Form. Your completed enrollment form must be returned DIRECTLY to
PAYROLL & BENEFITS SERVICES (PBS) and must be postmarked within
31 days of the qualifying event that allowed enrollment. (Address is
on the enrollment form). No exceptions are made to the enrollment deadline.
Contact a PBS Benefits Counselor, 303-735-6500, if you have any questions regarding the CU-Flex Plan. Remember, enrollment through PBS is for the CU-Flex Plan only. Your health, dental, life and disability plans are through CU GME.
NOTE: This is NOT the PBS website. If there are any discrepancies between this information and PBS policies and procedures, the plan documents, PBS policies and procedures, and any applicable federal and state laws will govern.
Revised June 2009
GRADUATE
MEDICAL EDUCATION
VOLUNTARY RETIREMENT PLANS FOR CU GME RESIDENTS
403(b) and 457 Tax-Deferred Investment Programs
As a CU GME Resident, you may choose to participate in two tax-deferred investment programs, a 403(b) and/or a 457 Plan.
Some considerations:
· Reduce current taxable income by the amount of your contributions.
· Accumulate money for retirement.
· Pay no income taxes on contributions made or interest earned
until money is withdrawn from the investment program.
· Begin participation or change contributions anytime throughout
the year (no mandatory open enrollment period).
· Directing your retirement plan contributions is a decision
that involves your personal financial goals and current situation. GME
personnel are not permitted to advise you. You may want to contact a
tax or investment advisor with questions.
About your
2009 contributions:
· Contributions to any combination of 403(b) or 401 plans, including
those at different employers, cannot exceed a total of $16,500, or 100%
of your total eligible income, whichever is less for individuals under
50 years of age. 401 plans are not available to CU GME Residents through
UC Denver.
· Contributions to a 457 Plan allow a separate, additional contribution
of up to $16,500.
· No "employer" match is available to the Resident
from the CU retirement plans.
University
of Colorado 403(b) Tax Deferred Annuity and Savings Plan
| AIG VALIC | (800) 448-2542, www.aigretirement.com |
| American Century Investments | (800) 345-3533,ext 4999 www.americancentury.com |
| Dreyfus Funds | (800) 358-0910, www.dreyfus.com |
| Fidelity Investments | (800) 343-0860, www.fidelity.com |
| Metlife | (800) 758-3231, www.metlife.com |
| DWS Scudder Funds | (800) 225-2470, www.dws-scudder.com |
| T. Rowe Price | (800) 492-7670, www.troweprice.com |
| TIAA-CREF | (800) 842-2776, www.tiaa-cref.org |
| Vanguard | (800) 523-1188, www.vanguard.com |
- If enrolling in a 403(b) plan(s), you must complete a fund sponsor application for each vendor you are participating with and attach it to the 403(b) tax Defferred Salary Reduction Agreement form.
- Complete the 403(b) Tax Deferred Salary Reduction Agreenent form (available on the PBS website at www.cu.edu/pbs/forms/).
- Submit completed 403(b) Tax Defferred Salary Reduction Agreement and fund sponsor application to: Payroll and Benefits Services, 3100 Marine Street, 6th floor, Campus Box 575 SYS, Boulder, CO 80309.
- All paperwork must be submitted by the 10th of the month in order to start that month's paycheck.
State
of Colorado Deferred Compensation 457 Plan
Call (800)
838-0457 or visit online at www.colorado457.com
for all information regarding this plan.
The University reserves the right to change all or any part of this benefit at any time. IRS provisions prevail over any written or verbal interpretation of this document. You are responsible for staying within the guidelines of these plans as defined by the IRS.
Vision
Care
Group #9674359 CU GME Vision Plan
EyeMed,
The Eyecare Plan of America,
is the vision care plan offered to CU GME Residents.
-
Vision
care services, such as routine eye examinations, prescription glasses
and contact lenses are not covered by the CU GME Health Benefits Plan.
Residents may purchase this optional vision care plan through payroll
deduction.
- OPEN
ENROLLMENT for the 2009-2010 plan year ends JULY 31. Coverage will
begin AUGUST 1 for Residents who enroll for vision coverage during
open enrollment. (Otherwise, special enrollments must be received
within 31 days of a qualifying event, and coverage will usually begin
the first day of the month following qualifying event enrollment.)
- TO ENROLL,
complete and return the Enrollment & Payroll Deduction Authorization
Form to:
Graduate Medical Education Mail Stop C293 13001 East 17th Place Room N4223 Aurora CO 80045 or fax to 303-724-6034. Late enrollment will not be accepted.
- TO CANCEL,
if you are already on the plan and do not wish to continue coverage,
indicate on the enrollment form you want to CANCEL your enrollment,
and return the form to the GME office. Re-enrollment is prohibited
for four years after cancellation.
- It is
NOT necessary to RE-ENROLL for the vision plan each plan year. If
you are already a member of this vision care plan, your coverage will
continue until GME is notified to cancel coverage.
Provider listing* for EyeMed is found on EyeMed's website (CU GME's Provider Network is the "access" network) or by calling Member Services at 1-877-226-1115.
*Please note: The provider network for EyeMed is NOT the same as the provider network for the CU GME Health Benefits Plan. University of Colorado Hospital, The Children's Hospital, and UPI are NOT providers for EyeMed.
Remember,
enrollment must be completed within 31 days of a qualifying event.
For Vision
Plan Summary and Enrollment and Payroll Deduction Authorization Form,
click here.