Savings Bonds
The Town of Vienna offers its employees the opportunity to participate in the U.S. Savings Bond Program. Joining this plan is one of the most dependable ways to save money. Employees are able to set aside an amount each pay period towards the purchase of savings bonds. The smallest payroll deduction amount that can be made is $5.00 per paycheck. There are no limits for those deductions over $5.00. Savings bonds are available in the following denominations: $100, $200, $500, and $1,000.
An employee may sign up for this program at any time during the year. Simply contact the Administrative Services Office to obtain an enrollment form. Also, employees are able to discontinue their membership at any time. If this deduction is stopped in between purchase, these monies will be returned to the employee within 30 days from the end of the pay period in which the stop takes place.
Additional information on the savings bond program is available at the following website:
www.savingsbonds.gov
Direct Deposit
All new, full-time employees are required to enroll in the direct deposit program. Forms are available from the Administrative Services Office.
Flexible Spending Accounts
Medical Spending Account
Employees can make equal pre-tax contributions per pay period to an account used to pay out of pocket medical expenses incurred by the employee and/or their immediate family members during the calendar year, thereby exempting these expenses from tax. The maximum contribution cannot exceed $10,000 in a calendar year.
Participants receive a debit card for use at their time of service or can submit claim forms for reimbursement. The plan year runs from January 1 through December 31, so all expenses should be incurred during that time frame. There is an extended grace period that allows for new calendar year expenses to be applied to last year's remaining balance, for a limited amount of time - two months and fifteen days immediately following the end of the plan year. During this time period, claims can continue to be incurred against money left over at the end of the previous plan year.
DEPENDENT CARE ASSISTANCE PROGRAM
Employees can make equal pre-tax contributions per pay period to an account used to pay dependent care expenses incurred by the employee during the calendar year for child(ren) under the age of 13 and/or a disabled family member. The maximum contributions cannot exceed $5,000 per calendar year. Contributions to the Dependent Care Assistance Program are done in lieu of taking the Dependent Child Care Credit on your income tax return. Proof of expenses must be submitted for services rendered and received by the account administrator within 90 days after the end of the calendar year or the employee forfeits the balance of the account.
FORMS
For a direct link to claims and other forms related to the medical and child care reimbursement programs, visit the provider's website by clicking on the following link:
http://www.flex125.com/af_site2/employee/support/forms.asp.