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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, 2008 - June 30, 2009.
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 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 dollars used 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 these accounts is by filing a claim for 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, to pay for eligible out-of-pocket medical
and dental 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
Your completed enrollment form must be returned DIRECTLY to PAYOLL
& BENEFIT 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 teh enrollment deadline.
2008-2009
Plan Year Enrollment Form
Remember, enrollment through PBS is for the CU-Flex Plan only. Your health, dental, life and disability plans are through CU GME.
Contact a PBS Benefits Counselor, 303-735-6500, if you have any questions regarding the CU-Flex Plan.
The above information is not provided by PBS. If there are any discrepancies between this information and PBS policies and procedures or the plan document, PBS policies and procedures, the plan document and any applicable federal and state laws will govern.
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
2008 contributions:
· Contributions to any combination of 403(b) or 401 plans, including
those at different employers, cannot exceed a total of $15,500, 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
CU.
· Contributions to a 457 Plan allow a separate, additional contribution
of up to $15,500.
· No "employer" match is available to the Resident
from the CU retirement plans.
Grant funded stipend portions of a Resident's salary are not eligible
for 403b or 457 contributions.
University
of Colorado 403(b) Tax Deferred Annuity and Savings Plan
| AIG VALIC | (800) 448-2542, www.aigvalic.com |
| AIM Distributors | (800) 241-9799, www.invesco.com |
| American Century | (800) 345-3533, www.americancentury.com |
| Dreyfus Funds | (800) 358-0910, www.dreyfus.com |
| Fidelity Investments | (800) 343-0860, www.fidelity.com |
| Metlife Resources | (800) 758-3231, www.metlife.com |
| Scudder Funds | (800) 225-2470, www.scudder.com |
| T. Rowe Price | (800) 492-7670, www.troweprice.com |
| TIAA-CREF | (800) 842-2776, www.tiaa-cref.org |
| Vanguard Group | (800) 523-1188, www.vanguard.com |
Step
one: Contact
the fund sponsor(s) to obtain information and investment application.
If
you are enrolling for the FIRST time with a new Fund Sponsor, you are
required to contact each Fund Sponsor that you select, complete their
investment application, and mail it directly to the Fund Sponsor BEFORE
your first payroll deduction occurs. (A copy of the application must
also be attached to the 403b Tax Deferred Salary Reduction form.)
Step two:
Complete the 403b Salary Reduction Agreement form (available
at the GME office or online here)
Step three: Submit completed 403b Salary Reduction Agreement
and copy of investment application to: Payroll and Benefits Services;
3100 Marine Street, 6th Floor, Campus Box 575 SYS; Boulder CO 80309.
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 2008-2009 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 4200 East 9TH Avenue, C293 Denver, CO 80262, OR fax to 303-315-7399. 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.