The latest work-life information at IU
           
   


No. 37
March 2006


University Human Resource Services
www.indiana.edu/~uhrs

Inside this Issue:

Total Compensation Statements

Don't Delay, Start Today! Campaign

TSB Enhancements

Tobacco Use and Health: Quitting Smoking among Older Adults

Drug-Free Workplace

2006 Open Enrollment Results

2006 Holidays

Women’s Health and
Cancer Rights Act

Web Wise: The New Interactive
PERF Web Site

Retirement and Investment Counseling

Review Hourly Positions

Status of CSI Project

Beware of Outside Financial
Advisors

New UHRS Web Site

Preferred Providers and
Customer Service Contacts

Investment Fund Performance

 

The Informed Employee is published 2-3 times a year by University Human Resource Services for approximately 16,700 full-time appointed staff and academic employees across the eight Indiana University campuses.

University
Human Resource
Services
Indiana University
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400 E. 7th Street
Bloomington, IN 
47405-3085

 

Total Compensation Statements

Many factors contribute to the compensation package employees receive at Indiana University. IU’s compensation package includes various benefits in addition to base salary. In late March 2006, full-time Academic and Staff employees will receive Total Compensation Statements highlighting the estimated annualized value of the base salary and benefits associated with their employment at IU.

Specifically, the statement will include the following applicable IU-provided compensation:

  • Base salary
  • Social Security contributions
  • IU Retirement Plan or PERF retirement
  • Medicare contributions
  • Medical coverage
  • Dental coverage
  • Life insurance
  • Fee Courtesy (subsidized IU tuition)
  • Paid holiday time off
  • Paid time off

Voluntary benefits such as Supplemental Life, Tax Saver Benefit, and Tax Deferred Annuity plans will also be displayed. Estimates of these values will be based on data residing in the HRMS system as of early January. Allowances should be made for changes that may have occurred beyond this time period. Statements will be mailed to the employee’s home address.

Don’t Delay, Start Today! Campaign

Last fall, Indiana University launched the Supplemental Retirement Plans Campaign 2005 to promote the advantages of automatic pre-tax contributions for retirement savings. As a result of the campaign, hundreds of additional employees began to save for retirement by enrolling in an IU-sponsored supplemental retirement plan.

The need to save more money for retirement years continues to grow. The rising cost of living, including health care expenses and increasing life expectancy, has dramatically increased the amount of savings a person will need during retirement years. Contributing even small amounts can help boost retirement savings.

The two supplemental retirement plans sponsored by IU are the IU Tax Deferred Annuity (TDA) Plan and the IU Retirement Savings Plan. Benefits of participating include:

  • Ability to periodically start, stop, increase, or decrease salary deferrals
  • Hundreds of investment fund choices, including stocks, bonds, fixed income, and real estate
  • Contributions are deducted from salary before income taxes are calculated
  • Contributions and earnings are only taxed when withdrawn from the plan

Contact a campus Human Resource office to obtain more information, or visit www.indiana.edu/~uhrs/benefits/.

Don't delay, start today!

TSB Enhancements

Grace Period
Participants can use any remaining 2005 Tax Saver Benefit (TSB) health reimbursement account balances to pay for qualified expenses incurred in January and February 2006. Likewise, unused balances for 2006 health reimbursement accounts can be used to pay eligible expenses in January and February 2007. To take advantage of this grace period, participants must submit paper claims. The grace period does not apply to TSB dependent care accounts or to claims processed under the optional TSB heathcare debit card.

Claim Deadline Extended
Medical, dental or vision expenses allowed by the IRS and incurred during the 2005 tax year or the two-month grace period (January and February 2006) must be submitted for reimbursement by April 15, 2006. This is a two-week extension in comparison to previous years.

Claim Form
Claim forms are available at www.indiana/edu/~uhrs/pubs/forms-list.htm. Participants must clearly indicate on a claim form if they want January/February 2006 expenses to be reimbursed from their 2005 account. Claims are submitted to the plan administrator, Nyhart.

Tobacco Use and Health

Quitting Smoking among Older Adults

Quitting smoking has proven health benefits, even at a late age. When an older person quits smoking, immediate benefits include improved circulation and increased energy and breathing capacity. Additionally, the lungs begin to repair damage.

In one year, the added risk of heart disease is cut almost in half. Older adults who quit smoking also have a reduced risk of stroke, lung disease, and cancer. For people who have already developed cancer, quitting smoking reduces the risk of developing another primary cancer.

Quitting smoking, even later in life, appears to reduce the risk of low bone mass and fractures.

Sources: American Lung Association, National Institute of Health, and National Cancer Institute

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UNIVERSITY HUMAN RESOURCE SERVICES
Last updated: 3 March 2006
URL: www.indiana.edu/~uhrs/
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