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Benefits 2006 RAB Benefits Update 2006. Benefits 2006 2 RAB 2006 Benefits Overview Vacation Holidays Bereavement Leave Military Leave RAB Paid Short –Term.

Published byRosalind Patience Crawford Modified over 9 years ago

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Presentation on theme: "Benefits 2006 RAB Benefits Update 2006. Benefits 2006 2 RAB 2006 Benefits Overview Vacation Holidays Bereavement Leave Military Leave RAB Paid Short –Term."— Presentation transcript:

1 Benefits 2006 RAB Benefits Update 2006

2 Benefits 2006 2 RAB 2006 Benefits Overview Vacation Holidays Bereavement Leave Military Leave RAB Paid Short –Term Disability RAB Paid Long-Term Disability Educational Assistance

3 Benefits 2006 3 RAB 2006 Benefits Overview Vacation Length of ServiceMonthly AccrualAnnual Accrual 1-5 years.83 of a day10 days 6 years +1.25 days15 days

4 Benefits 2006 4 RAB 2006 Benefits Overview Holidays The RAB will observe the following twelve (12) paid holidays in 2006: New Years Day - January 1 st Martin Luther King Day - Monday after January 15 th President’s Day — Third Monday in February *Good Friday – ½ day *Friday before Memorial Day – ½ day Memorial Day - Last Monday in May Independence Day Bonus – July 3 rd Independence Day - July 4 th *Friday before Labor Day – ½ day Labor Day - First Monday in September Columbus Day — Second Monday in October *Wednesday before Thanksgiving Day – ½ day Thanksgiving Day - Fourth Thursday in November Day after Thanksgiving Day - Fourth Friday in November Christmas Preparation Day - Friday before Christmas Day Christmas Day - December 25 th

5 Benefits 2006 5 RAB 2006 Benefits Overview Sick Leave –8 days per calendar year Personal Days –2 day per calendar year Bereavement Leave Military Leave RAB Paid Short –Term Disability RAB Paid Long-Term Disability

6 Benefits 2006 6 RAB 2006 Health Benefits Overview The following benefit programs are available to eligible employees: Medical Dental Vision Insurance RAB Paid Basic Life and AD&D Insurance Voluntary Supplemental Life Insurance RAB Paid Employee Assistance Program (EAP) 401(k) Plan Flexible Spending Account

7 Benefits 2006 7 RAB 2006 Benefit Plan Changes Group Health Plan RAB Inc 401(k) Retirement Plan Flexible Spending Account ADP iPay Statements

8 Benefits 2006 8 RAB Group Health Plan Changes Premiums per pay period: Individual $50 Individual Plus 1 Dependant $85 Individual Plus 2 Dependants $100 Individual Plus 3 Dependants $115 Individual Plus 4 Dependants $130

9 Benefits 2006 9 RAB Group Health Plan Changes Calendar Year Deductible –Employee: $600 –Family: $1,800 Prescription Co-Pay –Generic: $10 –Brand Name: The greater of 20% or $20 Mail Order Maintenance Drug 90 day supply –Generic: 2 X Co-pay –Brand Name: 2 X Co-pay

10 Benefits 2006 10 RAB Inc 401(k) Retirement Plan 2006 Maximum Deferral Limits –$15,000 –$20,000 Catch-up Maximum age 50 or over 23 Investment Options RAB Matching Contribution –25% of the first 6% of Employees’ contributions

11 Benefits 2006 11 RAB Flexible Spending Account 2006 Maximum Contribution: $2,500 2005 FSA One-time Extension –Employees’ 2005 Balance may be used through March 15, 2006 –All claims must be filed by March 31, 2006 –No additional extensions or exceptions Plan Carefully – Use it or Lose it!

12 Benefits 2006 12

13 Benefits 2006 13 What is it? ADP iPayStatements is a browser based application which enables employees of ADP’s clients to access their own pay statements and W2’s from any PC, anywhere in the world!

14 Benefits 2006 14 Key Features: Employees can view, print and save their: Pay Statements (for Vouchers and Checks) W2’s Actual image of pay statements and W-2s (PDF Format) Pay Check Modeling - Calculators Feedback Site Email notification when new pay documents are available for viewing

15 Benefits 2006 15 Employees start here!

16 Benefits 2006 16 Users Key their SSRPC

17 Benefits 2006 17 User subscribes to iPay by clicking on the radio button

18 Benefits 2006 18 Employee enters specific information from either the pay stub or W-2.

19 Benefits 2006 19

20 Benefits 2006 20 User chooses a Challenge Question and Response

21 Benefits 2006 21

22 Benefits 2006 22 User ID is automatically assigned !  First Initial of first name  Complete last name  @ company defined name  (i.e. jdoe@company) User ID is automatically assigned !  First Initial of first name  Complete last name  @ company defined name  (i.e. jdoe@company)

23 Benefits 2006 1099s Content options are listed at the top Profile options are listed under the tab section 1099s

24 Benefits 2006 24 1099s

25 Benefits 2006 25 03/29/2002 1099s

26 Benefits 2006 26

27 Benefits 2006 27 2006 IRS Limits Social Security Tax 6.20% Medicare Tax 1.45% SS Taxable Wage Limit $94,200.00 Maximum SS Tax Payable $5,840.40 401K Maximum Deferral $15,000.00 401K Catch-up Maximum $20,000.00 457(b) Maximum $15,000.00 457(b) Catch-up Maximum $20,000.00

28 Benefits 2006 28 RAB Benefit Websites RAB 401(k) –www.eretirement.aul.com Flexible Spending Account –www.theflexcard.com iPay Statement –https://ipay.adp.com RAB Group Health Plan Network –www.phcs.com Immediate Pharmaceutical Services Mail Order –http://www.ipsrx.com/ Magellan Health Services –https://www.magellanassist.com/default.asp

29 Benefits 2006

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