Feb 26, 2013
As you begin to access and receive your 2012 W-2's, please be aware of some additional information that has been included on your W-2 this year.
The Patient Protection and Affordable Care Act (PPACA) requires employers to report the value of health insurance coverage on employees' W-2 forms beginning in 2013. The purpose of the value of health coverage, as stated by the IRS, is to provide employees useful and comparable consumer information on the cost of health care coverage. This amount is not taxable and does not include the value of dental or life coverage.
The value of health insurance was reported by the Group Insurance Division of Central Management Services (CMS) to the comptroller, SURS and all universities, and appears in Box 12 of the W-2 form with the code "DD." The amount reported includes any pay period from January 2012 through December 2012 in which the employee had income that was reported on a state agency or state university W-2. Retirees were not included in the reporting.
More information may be obtained by accessing the IRS website here.
LINDA HOLLOWAY, Human Resources
Posted: Jan 25, 2013
'HOW WELL DO YOU UNDERSTAND YOUR STATE UNIVERSITY RETIREMENT BENEFITS?' INFORMATIONAL MEETING -- THURSDAY, MARCH 7
On Thursday, March 7, the State University Retirement System will conduct informational meetings to explain retirement plans and answer many frequently asked questions. Two informative sessions will be held: one in the morning at 10 a.m. and one in the afternoon at 1 p.m. Both will take place in the Oakland Room, third floor, MLK Jr. Union. The meetings will include a one-hour presentation, with an additional 30 minutes slotted for questions and answers.
Please call 581-5825 or email email@example.com to reserve your seat at one of these sessions.
PATTY HOOD, Benefits Office
Posted: Feb 25, 2013
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