1.
2009
Maximum Contributions to Social Security, Alternate Retirement Program,
and Defined Contribution Plans 403(b) and 457
The Social
Security Administration has announced that the 2009 social security wage
base will increase to $106,800. The maximum social security tax employees
and employers can each pay in 2009 is $6,621.60. The IRS has announced that
the annual compensation limit for 401(a) plans (Alternate Retirement Program)
has increased from $230,000 to $245,000. The limitation on the exclusion
for elective deferrals under 403(b) and 457 plans has increased from $15,500
to $16,500. The limitation under '414(v)(2)(B)(i) for catch-up contributions
to 403(b) and 457 plans, for individuals age 50 or over, has increased from
$5,000 to $5,500.
2.
Check Distribution for the Week of New Year's
Due to
the New Year's holiday, checks and direct deposit statements dated 01/02/09
will be available for distribution to departments on Wednesday, 12/31/08.
Distribution will take place at the Natatorium from 11:00 a.m. to 1:00 p.m.
Please note the change of both date and time. To ensure that all employees
will receive this payment within the same tax year, direct deposit payments
and checks will both be issued with a date of 01/02/09 (Friday). Because
funds are usually accessible from direct deposits on alternating Thursdays,
employees are asked to plan accordingly for this adjustment.
Additional information regarding check distribution and timecard deadlines
for the week of New Year's will be distributed to departments with checks
dated 12/19/08. If you have any questions regarding check distribution,
please contact the Payroll Department at (860) 486-2423.
3.
W-4 Deadline for First Payment of 2009
Employees
who wish to make changes to their tax status for check date 01/02/09, must
submit updated W-4 forms to Payroll by 12/23/08.
Both
the federal and state (CT) W-4 forms are available on the Payroll website
at: http://payroll.uconn.edu/forms/forms.html
4.
Maximum Vacation Carryover for Unclassified Staff
Unclassified
staff (UCPEA, management-exempt and management-confidential) are limited
to carrying 60 vacation days into the next calendar year. Vacation accruals
over the 60-day maximum are dropped on the payroll card that includes January
1st. While the year-end vacation balance must be 60 days or less, vacation
accruals may exceed this maximum at any point during the calendar year up
to the limit of 120 days.
Employees
who could not reduce their vacation accruals to 60 days or less by the end
of the year may request permission in writing to carry over their total
vacation balance into the next calendar year. Requests should be submitted
to the appropriate Dean/Director/Department Head and are granted on a one-time
basis only. Once the vacation balance is below 60 days, it cannot exceed
the maximum at year's end again.
Vacation
carryover requests should include a plan for reducing the balance to 60
days or less over the course of the following year. The administrator's
approval letter should include a target date by which the accruals must
be reduced below the maximum. Approvals should be copied to Human Resources
and Payroll.
Sample
request memo:
As of
December 31, 2008 my vacation balance was _______ days above the permitted
60-day maximum. I am requesting your permission to carry over ______ days
into 2009. I intend to use these extra days next year during _______ [March,
June and July, etc.], thus reducing my year-end balance to 60 days or less
by December 31, 2009.
For additional
information contact Labor Relations at (860) 486-5684. UCPEA Members may
refer to Article 6 of the UCPEA
contract.
5.
Requests for Vacation Carryover into 2009
Members
of the classified bargaining units (NP-2, NP-3, NP-5, P-2 and P-5) must
obtain agency permission to carry over more than 10 days of vacation accruals
earned during the current calendar year into the next year. Failure to request
vacation carryover will result in loss of the accrued time over the maximum.
For 2008
carryover accruals to be reflected for pay period ending January 15, 2009,
please submit completed Vacation
Carryover Form to Labor Relations on or before January 7, 2009. Forms will be processed as they are received and notification will be made to employees when their accrual adjustments are made.
Refer
to your labor contract for specific language regarding vacation carryover.
Questions
may be directed to the Labor Relations Unit at (860) 486-5684.