USD 240

Employee Benefits

Medical, Financial & Other Benefits

• Medical -Medical Plan, Prescription Drug Benefit, Paid Preventative Benefit, Dental Plan, Vision Care Plan, Medical and Dependent Care Reimbursement (Section 125 Medical Flexible Spending Plan). Health Savings Account-HSA available with qualifying Medical plan.

• Financial - Life insurance, KPERS , Matching Annuity, Tax Sheltered Account Program - 403(b).

• Other – Disability Income Insurance, Workers' Compensation Insurance, Unemployment Insurance, Sick Leave , Holidays, Vacation (classified), Professional Development, Season Passes to district events.

MEDICAL REIMBURSEMENT PLAN Flexible Benefits Plan also known as Section 125 Cafeteria Plan

Through the Twin Valley School District Flexible Benefits Plan, eligible employees may be reimbursed for out-of-pocket health expenses with tax- sheltered dollars from a flexible spending account. This account is funded by pre-tax deductions from the participating employee's paycheck. Claimed expenses may include such items as deductibles, co-payments and other expenses not covered by insurance programs (i.e., orthodontia, excess chiropractic charges). Each Flex Enrollment period, the employee authorizes the dollar amount he/she would like deducted from his/her to cover expenses during the plan year, which runs from October 1 through September 30. Once the election has been made, it may not be changed during that plan year except for a change in family status (i.e., birth or adoption of a child, death of the employee's spouse or dependent, marriage or divorce of the employee, termination or commencement of employment of spouse). The employee will be reimbursed for eligible expenses as they are incurred. An employee must carefully forecast the expenses he/she intends to claim, since any unclaimed monies revert to the plan. The maximum amount an employee may allocate into a Medical Reimbursement Plan per plan year is $2,750.00 for 2020.

DEPENDENT CARE REIMBURSEMENT (Flexible Benefits Plan also known as Section 125 Cafeteria Plan)

This IRS-approved plan allows eligible employees to reduce their on a pre-tax basis to pay for dependent care. In this way, an employee can pay for these expenses with Income from which no Federal, State or FlCA taxes have been deducted.

Each Flex Enrollment period, the employee authorizes the dollar amount he/she would like deducted from his/her salary to cover expenses during the plan year, which runs from October 1 through September 30. Once the election has been made, it may not be changed for that plan year except for a change in family status (i.e., birth or adoption of a child, death of the employee's spouse or dependent, marriage or divorce of the employee, termination or commencement of employment of spouse). The maximum amount an employee may allocate into a Dependent Care Reimbursement Plan per plan year is $5,000.00. An employee must carefully estimate the total expense he/she will incur, as any unclaimed monies revert to the plan.

TAX-SHELTERED ACCOUNT PROGRAM - 403(b)

The 403b is a tax deferred retirement plan available to employees of educational institutions and certain non-profit organizations. Participants contribute to either annuity contracts with insurance companies, or to mutual funds with mutual fund companies. Contributions and investment earnings grow tax deferred until withdrawal (assumed to be retirement), at which time they are taxed as ordinary income. Withdrawals before age 59 1/2 are subject to a 10% federal income tax penalty. To be in compliance with IRS and Department of Labor regulations the district contracted with OFG Financial and Waddell and Reed to administer all tax sheltered plans.

LIFE INSURANCE

The District, through KPERS, provides, at no cost to the eligible employee, a life insurance policy that is worth 1 ½ their salary on each eligible employee. Employees may purchase additional life insurance on themselves and eligible dependents too. Employees are also offered a $10,000 life insurance policy through Greenbush Health (Advance Life) at no charge to them.

MATCHING ANNUITY

Certified staff are eligible to participate in the matching annuity program. The District will match up to $600/year to a 403(b) or 401(K). This benefit increases retirement savings by $1200/year.

RETIREMENT

KANSAS PUBLIC EMPLOYEE RETIREMENT SYSTEM Membership is mandatory for all eligible District employees who expect to work more than five consecutive months. Employees currently must contribute 6% of all earnings through payroll deduction. Withdrawal of employee contributions upon termination of employment will be subject to a 10% IRS penalty if the employee is not over age 59 1/2.

DISABILITY INCOME INSURANCE

Protecting the loss of your income due to illness or injury is an important component of financial planning. New District employees may enroll in a voluntary Long Term Disability plan. Current employees may make application at any time, but will be subject to proof of insurability.

WORKERS' COMPENSATION INSURANCE

District employees are covered against loss due to injuries or death sustained during employment. The District contributes the full premium.

UNEMPLOYMENT INSURANCE

District employees are protected against loss of income due to loss of employment. The District pays the full premium. This program is administered by the State Department of Employment.

FAMILY & MEDICAL LEAVE

Under the Family and Medical Leave Act of 1993, or "the Act", employers are required to recognize eligible employees with qualifying conditions or events, such as pregnancy, adoption, or a “serious health condition," as defined in the Act, who are eligible for up to 12 weeks of unpaid, job-protected leave with benefits. Federal legislation and District policy allows Family and Medical Leave to run concurrently with paid sick leave.

PROFESSIONAL DEVELOPMENT

Periodically, courses are offered through the District at little or no cost. Many of these courses may be taken for college for a nominal charge.

SICK LEAVE BANK

The Sick Leave Bank is a voluntary program designed to provide sick leave coverage after an eligible employee's earned sick leave has been exhausted due to serious illness or injury. To participate, an employee must contribute a moderate number of his or her earned sick leave days to the Sick Leave Bank in exchange for a larger number of days, which may be used in the event his or her normal sick leave has been exhausted.

HOLIDAYS

Eligible employees are paid for the following holidays: Labor Day, Thanksgiving, Christmas, New Year's Day, Memorial Day, and Independence Day.

VACATION

The Twin Valley School District feels it is important employees take time away from work. For this reason, the District has developed a paid vacation policy for 12-month classified employees. Vacation accrual varies according to employee category and length of contract.

DIRECT DEPOSIT

The district processes monthly payroll using direct deposit to the bank of your choice. You may request a Direct Deposit Authorization form from Payroll.

SEASON PASSES

Employees eligible for benefits receive a season pass to all District activities and home athletic events.

DISCLAIMER: In the event that the information presented in this summary disagrees with or contradicts the language in the current plan documents, the language of the current plan documents will rule.