7 end-of-year tips for maximizing employee benefits
As 2020 comes to a close, the Office of Human Resources is offering tips for getting the most out of your employee benefits before the year ends.
- Donate unused annual leave and sick leave
Employees may carry over a maximum of 45 days of annual leave and 180 days of sick leave from one calendar year to the next. If you have excess annual leave and/or sick leave accruals that you anticipate forfeiting, take a minute to donate them to the Leave Transfer Program by December 31. Donations may be made to the general leave pool or to an individual faculty or staff member eligible to participate.
- Use State Vision Plan allowances
Employees enrolled in the State Vision Plan have access to a $150 annual allowance for glasses frames or a $130 allowance for contact lenses (in lieu of frames) each calendar year. Contact EyeMed (877-735-9314) to learn more or to find an in-network eye doctor.
- Use your optional holiday
The optional holiday does not carry over from year to year. Just remember to request the optional holiday in Kronos and obtain approval from your supervisor before using it.
- Sign up for an electronic W-2
To make tax preparation easier, active employees may elect to receive their W-2 forms electronically instead of by mail. Sign up or change your preference through Employee Self Service (Payroll and Compensation > W-2/W-2c Consent).
- Use all Dependent Care Spending Account (DCSA) funds
Employees participating in DCSAs must use their 2020 account funds by December 31, 2020. Funds not used by December 31 will be forfeited to ASIFlex. Employees have until March 31, 2021, to file reimbursement for qualifying expenses. Access DCSA claim form.
- Use any Medical Spending Account (MSA) funds that won’t roll over into 2021
If you have up to $500 of unused funds in your MSA as of December 31, 2020, you may carry them over into the 2021 plan year. Any additional unused funds will be forfeited to ASIFlex. Access PEBA’s MoneyPlus webpage for more information.
- Revisit the 2021 Holiday Calendar
The 2021 Holiday Calendar is a helpful resource when planning for the year ahead.
Just Ask-HR or call 864-656-2000.