Employee Benefits Presentation - ncmcs.org · •State retirement/Individual retirement ......

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Moore County Schools Employee Benefits Presentation (Rev 08/14)

Transcript of Employee Benefits Presentation - ncmcs.org · •State retirement/Individual retirement ......

Page 1: Employee Benefits Presentation - ncmcs.org · •State retirement/Individual retirement ... •Excess over 30 days rolls into sick leave ... i.e., absence slip

Moore County Schools

Employee Benefits

Presentation(Rev 08/14)

Page 2: Employee Benefits Presentation - ncmcs.org · •State retirement/Individual retirement ... •Excess over 30 days rolls into sick leave ... i.e., absence slip

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Agenda

• Website – www.ncmcs.org

• Compensation– Salary supplements and longevity

• Leave benefits

• Health insurance

• State retirement/Individual retirement

• Other benefits (flex, life insurance, etc.)

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Compensation

• Pay date – 25th of each month

• 10-month employees – 12-month pay options

– Credit Union Summer Cash

– Individual bank (employee/bank manage summer cash)

– State installment pay-only available to teachers (State holds summer cash; employee earn -0-interest)

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Compensation

Salary deductions• Social Security (FICA)/Medicare

• Federal/State Income Tax Withholding

• State Retirement (6% employee rate)

• Employee-authorized

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Salary Supplements

• Teachers – 8% (half in November; half in June)

• Classified employees - $100/year state service

credit plus:

Years of State Service Classified Supplement

0-2 $500

3-8 $650

9-15 $800

16-19 $950

20+ $1,000

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Longevity (includes 30+ hr/week employees)

Years of State Service Longevity Pay Rate %

10 but less than 15 years 1.50

15 but less than 20 years 2.25

20 but less than 25 years 3.25

25 or more years 4.50

Effective July 1, 2014 – Longevity is now part of the

Teacher Pay Scale

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Professional Development

Professional development program

Teacher Assistants, Information Technology,

Maintenance, Transportation, Office Professionals

Certification

$42/month up to $165/month based on

certification level; $175/month for teacher

assistants

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Annual (Vacation) Leave

• Employee must be working one-half or more of the workdays in a monthly pay period

• Can accumulate up to 30 days

• Excess over 30 days rolls into sick leave

• 10 days of annual leave are built into the school calendar

• Teachers may not take annual leave on a student day

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Sick Leave

• Employee must be working one-half or more of the workdays in a monthly pay period

• Sick leave granted for -• Personal illness, injury or other temporary

disability, or

• Illness in the employee’s immediate family that necessitates the employee’s attendance, or

• Death in the immediate family, or

• Medical appointments

Page 10: Employee Benefits Presentation - ncmcs.org · •State retirement/Individual retirement ... •Excess over 30 days rolls into sick leave ... i.e., absence slip

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Sick Leave

• Earned at one day per month

• Unused sick leave can be credited to state

retirement (20 days = 1 month)

• For example - 160 days = 8 months of

service

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Other LeaveExtended Sick Leave

- For teachers only, less $50/day deduction for substitute

(regardless of whether a substitute is actually employed)

- Up to 20 days per fiscal year

Holiday Leave

- Established as part of the school calendar

Personal Leave

- For teachers only, less $50/day deduction (if taken on student day)

- Earned at the rate of .2 days/month

- May be accumulated to a maximum of 5 days

with excess rolled into sick leave

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“Blue Sheet”

• An employee who is not at work for any reason must complete a “blue sheet,” i.e., absence slip

– This includes illness (self or immediate family), death in immediate family, personal leave, professional leave or annual leave

– The exception is for 10-month employees and the 10 days of annual leave built into the school calendar; it is not necessary to complete a “blue sheet” for those 10 days of annual vacation leave

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Recording hours/absences

• Timekeeper

• Sub finder

• Other

– Accuracy

– Established work day

– Excessive absences

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Health Insurance

State Health Plan - Blue Cross and Blue

Shield of North Carolina

– Employee cost paid by MCS for 70/30 plan

– Dependent care premiums are pre-tax

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State Retirement

• Employee pays 6% of earnings pre-tax

• Employer pays 15.21%

• Short-term and long-term disability

• Unused sick leave counts towards years of

service

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State Retirement• Benefit calculation

– Years of state service

– Times 1.82%

– Times 4 highest years – average

compensation

• Example

– 30 years of service at 1.82% = 54.6%

– 54.6% times $30,000 avg. compensation

– = $16,380 annual retirement benefit

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Individual Retirement

• 3 options – 401K, 403B, 457

• Supplement to State retirement and Social

Security

• Pre-tax benefit (Roth available)

• Example – deferring $100 will reduce net

pay by only $70 to $80, depending on your

tax bracket

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Individual Retirement• State of NC Deferred Compensation Plans

Contact - Kelly Martindale, Prudential

910-949-3366

Providers

- NC 401K/457 (Prudential)

- Lincoln (Annuity Investors; ING; LSW)

- AXA Equitable

- Horace Mann

- VALIC

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FLEX - Pre-tax Medical and Dependent Care

• Example - $100/month in medical bills

– Fund thru the pre-tax plan

– Net pay will decrease by only $70 to $80

depending on tax bracket

– Pay medical expenses with a debit card

• Same concept for dependent care (except

not on a debit card)

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Other Benefits

• Group life insurance - $10,000 provided by

Moore County Schools

– Employee option to purchase additional

coverage at group rates

• Dental and vision plans – employee paid

• Other voluntary coverage (disability,

accident, etc.) – employee paid

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Other Benefits

• State Employees Credit Union

Contact – Shannon Bullard, NCSECU

910-692-4013

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Other Benefits

• Horace Mann auto insurance – can be

paid thru payroll deduction

Contact – Tito Massol, Horace Mann Agent

910-246-1717

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Direct Deposit Online Info

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Agenda

• Website – ncmcs.org

• Compensation– Salary supplements and longevity

• Leave benefits

• Health insurance

• State retirement/Individual retirement

• Other benefits (flex, life insurance, etc.)

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Moore County Schools

Thank you

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Employee Benefits Quiz

• When is pay day?

• In which 2 months do we pay semi-

annual salary supplements?

• After how many years of service is an

employee eligible for longevity?

• What happens to accrued vacation

leave in excess of 30 days?

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Employee Benefits Quiz

• How much sick leave does a full-time

employee earn each month?

• Who manages the NC State

Employees Health Plan?

• What is the name of our employee

attendance/timekeeping system?

• What is the payroll deduction % for the

employee share of State retirement?

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Employee Benefits Quiz

• Which of the following is not one of our

individual retirement plans?

401K; 403B; 457; Section 125

• What is the Medical Flex Plan?

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Individual Retirement

• Maximum annual deferral $16,500 (additional $5,500 if age 50 or over)

• By using the 457 plan with one of the other plans (401K and 403B), you can double your maximum deferral

• Individual retirement plan allows you to defer income to future years and a potentially lower tax bracket

• Investment options range from conservative to aggressive

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Substitute Payroll

•Paperless payroll – no printing/mailing

of paystubs

•Info available on line at all school

campuses

•Tax withholdings – speak with your tax

advisor as necessary

•Option – withhold an extra $10 federal and

$5 state – W-4 and NC-4 tax forms