Employees’ once-a-year opportunity to update and enroll in benefits is coming soon:Monday, Oct. 31 through Friday, Nov. 11. Staff and faculty are encouraged to review current elections and consider future options and changes. This year, University System of Georgia (USG) healthcare options are the same, and there are minimal changes to plans. However, premiums have increased again as the USG finally attains an equal, defined employer contribution across all plans.
To support your life and your health, USG will offer new benefit choices for 2017:
On May 18, 2016, the U.S. Department of Labor announced a rule change to the Fair Labor Standards Act (FLSA) that would extend overtime protections to nearly 5,000,000 workers within the first year of its implementation. The federally mandated date for nation-wide compliance with the new rule set is December 1, 2016. The most notable change for an employee to be considered exempt from overtime was the increase in the minimum salary threshold, from $23,660 annually to $47,476 annually.
Parking and Transportation Services introduces the Tech Square Express, a new route that will provide direct service from Clough Undergraduate Learning Center to Tech Square. Stops include Clough, Global Learning Center, Scheller College of Business and TSRB. The Tech Square Express will operate Monday through Friday from 7:30 a.m. to 6:30 p.m. (fall and spring semesters only).
The new Tech Square Express route was implemented to offer quick, convenient transportation from Tech Square to the main campus to serve the rapid growth occurring in Tech Square and the surrounding area.
A new software package will be implemented this fall that will improve efficiencies and compliance with procurement card (PCard) transactions. These enhancements will take affect beginning with the October 28, 2016, billing cycle.
The new reconciliation and approval process will provide PCard users with monthly online PCard statements, receipt imaging capabilities, and seamless approval workflows. Cardholders, approvers and auditors will benefit from the improved process.
Four groups on campus will be affected by this change:
More than 30 vendors will be present at the Benefits Fair for 2017 Open Enrollment including Blue Cross and Blue Shield of Georgia, Kaiser Permanente, Delta Dental, EyeMed and more. There will be door prizes, benefits counseling sessions, catered lunch, blood pressure checks and an onsite Open Enrollment computer lab.
The Board of Regents approved 2017 University System of Georgia (USG) healthcare plan design changes and premiums for active employees and pre-65 retirees at its meeting Aug. 10.
The Board also approved the 2017 USG funding for the contribution to the HRA for Medicare eligible retirees age 65 and older. This year, USG is taking the final step in moving to the defined contribution pricing model for healthcare premiums. This means that the employer subsidy will be the same for each plan, at each tier.
Georgia Tech Human Resources announces an enhancement to its supplemental retirement investment options. Employees now have access to a Roth 457(b). While there has been a Roth 403(b) option available for some time, this new offering gives employees the opportunity to defer compensation after taxes.