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University Human Resources

Tax Saver Benefit (TSB)

On this page: Eligibility | Plan Provisions | TSB Dos and Don'ts | Contributions | Enrollment and Coverage Period

Eligibility

All full-time (75% FTE or more) Academic (including Medical Residents) and Staff employees of Indiana University can elect participation in the Tax Saver Benefit Plan.

Plan Provisions

The Tax Saver Benefit Plan allows eligible Indiana University employees to reduce out-of-pocket costs for eligible health and dependent care expenses by using "tax-exempt" dollars. TSB dollars are never taxed by federal, state, local or FICA. Dollars usually paid in taxes end up in the employee's paycheck under the TSB plan. Employees do not have to be enrolled in an Indiana University-sponsored health care plan to take advantage of these tax savings.

Pre-Tax Premiums

Eligible employees automatically receive preferential tax treatment for their premiums upon enrollment in medical, dental and/or Personal Accident Insurance plans.

Health Care Expense Reimbursement Flex Plan Account*

Dependent "Day" Care Expense Reimbursement Flex Plan Account *

*Notes for Expense Reimbursement Accounts

TSB Dos and Don'ts

Plan Contributions

Indiana University covers the administrative costs of the TSB Plan.

Enrollment Provisions and Coverage Period

The TSB Plan is offered on a tax year basis, and elections for participation in reimbursement accounts expire automatically at the end of each calendar year. The employee determines the annual pre-tax contribution, which is then deducted from salary and deposited directly into the respective TSB reimbursement account in the employee's name. The annual election is divided equally by the number of regular pay periods remaining in the year.

Continuing employees must enroll each year during the Open Enrollment period in November for participation the following year in a reimbursement account.

New employees eligible for participation must complete the appropriate section of benefit enrollment within 30 days of the date of hire. Enrollment is not allowed during November and December for the current year.

Employees may change or stop the salary reduction agreement for participation in the Plan only when an IRS-defined change-in-status event is experienced.

Page updated: 10 October 2013
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