B E N E F I T S
NOTICE ABOUT ELIGIBILITY TO PARTICIPATE IN 403(b) PLANS
Did you know that Southeastern offers several 403(b) tax deferred savings plans for employees?
You have the opportunity to save for retirement by participating in one or more of these 403(b) plans through payroll deduction. You can participate in Southeastern’s 403(b) plans by making pre-tax contributions to one or more of the 403(b) plans offered.
What do I have to do to contribute to one of the 403(b) plans sponsored by Southeastern?
You can contribute to one of the 403(b) plans once you have completed a salary reduction agreement and returned it to the Benefits Section of the Human Resources Office and enrolled with one of the approved investment providers, approved by Southeastern. The salary reduction agreement gives Southeastern the right to take the elected dollar amount or percentage from your paycheck and contribute those amounts to your 403(b) plan. For a complete list of investment providers available to you through the plan, and their contact information, please visit www.selu.edu/HRO and click on the link, the Link and then click on .
How do I know if I am eligible to participate in my school’s 403(b) plan?
All Faculty, Unclassified and Classified Staff are eligible to participate in the 403(b) plans whether Full-time or Part-time.
How much can I contribute?
In general, you may contribute up to $16,500 in 2010. This amount may be adjusted annually. Also, if you have at least 15 years of service with Southeastern or you are at least 50 years old, you may also be able to make additional catch-up contributions. Contact Sue Jones in the Human Resources Office for additional information on the amount that you can contribute to a 403(b) plan.
I am already participating in the 403(b) plan. What other rules about participating should I know?
If you are already contributing to one of the approved 403(b) plans, you may change your contribution amount or percentage by completing a new salary reduction agreement and returning it to the Benefits Section of the Human Resources Office. If you are increasing your payroll deduction you must have a calculation performed to ensure that you're within the limits to contribute. Your “Total Maximum Exclusion Allowance” calculation may be obtained by contacting your 403(b) plan provider or contacting Sue Jones in the Human Resources Office for assistance. Please refer to www.selu.edu/HRO Benefits link for specific plan rules regarding how frequently you are allowed to change your contribution amount or percentage.
Correction to 403B and 457 Salary Deferral Limitations for Calendar Year 2010
The IRS has announced Salary Deferral Limitations for Calendar Year 2010. There is no change in the limitations from the prior year.
Basic Limit: $16,500.00
Age 50+: 5,500.00
*15 Year Catch Up: 3,000.00
Total Allowed: $25,000.00
*The 15 Year Catch Up cannot exceed $3,000 per year or exceed cumulatively $15,000 over the lifetime of the 403B participant. NOTE: Employees who request the total allowable amount sheltered must provide a Maximum Exclusion Allowance Calculation from the 403B agent/company.
(457 Deferral Limits)
Basic Limit: $16,500.00
Age 50+: 5,500.00
**Catch Up: $16,500.00
Total Allowed: $33,000.00
**The special Catch Up is available for employees participating in an eligible 457 deferred compensation plan who have elected the special catch up available in the three years prior to the year of normal retirement age. NOTE: This limit is not available if the participant is currently using age 50+ catch up limit. Special forms must be completed with the 457 plan prior to starting this catch up limit.
2010 LASERS Prep Seminars
Southeastern Louisiana University will host the LASERS PREP Seminars on March 24 and June 9, 2010 in Room 139 of the University Center beginning at 8:00 am. Employees are reminded to apply in advance and that supervisory approval is required. These seminars are conducted by LASERS staff and address topics such as eligibility requirements for retirement and benefits, Initial Benefit Option (IBO), survivor benefits, DROP and purchase of service credit. PREP seminars also feature presentations from the Social Security Administration and the Office of Group Benefits.
To register, members can visit the LASERS web-site and complete an on-line registration form. The link is: http://www.lasers.state.la.us/
Overage Dependents Spring 2010
The deadline to submit the Enrollment Verifications of Full-Time Student Status to the Office of Group Benefits for eligible dependent children, ages 21-24 for the Spring 2010 is January 31, 2010. It is the plan member’s responsibility to provide this documentation each quarter or semester. If you have not yet submitted your dependents’ enrollment verification to either the office of Group Benefits or the Human Resources Office, please do so as soon as possible. Please be advised failure to provide the enrollment verification can lead to your over age dependent being dropped from your insurance. If your dependent is dropped you will have to reenroll him/her as a late applicant and Pre-existing Condition restrictions may apply.
Procedures to follow for all Employee Accidents/Incidents
If you have any questions concerning the above procedures, please contact the Human Resources Office at 549-5451 or log on to: http://www.selu.edu/admin/hr/benefits/workers_compensation/index.html
T R A I N I N G N E W S
CPTP Programs Scheduled on Campus in January and February
The Comprehensive Public Training Program (CPTP), a section of the Louisiana Division of Administration located in Baton Rouge, is offering a number of free professional development programs on campus. The Human Resources office is pleased to sponsor these programs here in an effort to make them more accessible. Courses are offered for both supervisory and non-supervisory employees. Topics offered from January 22nd through February 12th include: Civil Service Essentials for Supervisors, Common Myths that Affect Good Supervision, Correcting Performance Problems, Developing Effective Teams: Part I, Documenting for Performance & Discipline, and PPR for Supervisors. Several other programs are offered at the Hammond Medicaid Office. A link to detailed descriptions of the programs follows:
Advance registration is required for these programs and space is limited. For more information, please contact Jan Ortego at Jan.Ortego@selu.edu or at extension 5771.
New Employee Orientation
The next orientation for new classified and unclassified employees will be held on Wednesday, March 3rd in the Human Resources Office Conference Room. Registration begins at 8:30 a.m. and the program will run from 8:45 a.m. to 11:45 a.m. Attendance is mandatory for classified employees and unclassified employees are expected to attend. To register for the program, please contact Jan Ortego at Jan.Ortego@selu.edu or at phone extension 5771.
In an effort to maintain accurate employee professional development and training records, faculty and staff are asked to inform the Training Section of any conference, seminar or other training attended. A training questionnaire can be found on the Human Resources website at
Once the form is completed, it may be emailed to Jan Ortego at Jan.Ortego@selu.edu or faxed to the Human Resources Office at 549-2308. Additionally, if the training resulted in a license or certification, a copy of that document should be faxed to 549-2308 or sent via campus mail to SLU 10799. If there are any questions, please email Jan Ortego or call at extension 5771.
Mind Leaders On-Line Training Programs
The State Division of Administration, through its CPTP program, offers a state of the art, e-learning program for state employees called “Mind Leaders”. This is a computer-based source of interactive courses available over the Internet 24 hours a day, 7 days a week. The three categories of courses offered online are Computer Skills Courses, Professional Development Courses and Business Skills Videos.
In order to access these classes, employees will need an enrollment key that they can obtain by contacting Jan Ortego via email at Jan.Ortego@selu.edu . Graduate assistants and student workers are not eligible to use these courses.
IF YOUR SUPERVISOR MANDATES THIS TRAINING, IT WILL NEED TO BE COMPLETED DURING WORK HOURS. IF YOU CHOOSE TO DO THIS TRAINING AFTER WORK HOURS, IT WILL BE CONSIDERED VOLUNTARY AND WILL NOT BE COMPENSATED.
Employee Self Service
Step by Step instructions on using the Employee Self-Service module in PeopleSoft 9 are available to help faculty and staff members navigate to view their personal information. Please access the link below for detailed assistance: