Microsoft Word - 2015-4-29 HHHunt SL Handbook to Wordsprint


HHHunt has established a special fund to assist employees when a significant emergency or disaster situation arises. This fund is intended to help our fellow employees following personal tragedies such as natural disasters, house fires and other times of loss. Occasionally, the Employee Emergency Fund Committee will request contributions from employees to replenish the Employee Emergency Fund. For more information on the Employee Emergency Fund, please see your Executive Director. Under the provisions of Section 125 of the Internal Revenue Service Code, your deductions for medical and dental insurance premiums will be deducted from your gross pay before federal, state, and social security withholding taxes are applied. The same applies to withholding for Flexible Spending Account (FSA) deductions. This method of paying your share of medical and dental insurance premiums reduces your taxable income and will provide you greater net take-home pay than the traditional method of paying premiums from after-tax pay. As the HHHunt health, dental, and flexible spending accounts come under the guidelines of Section 125, the regulations allow for enrollment changes to be made only during open enrollment or within 30 days of a „Qualifying Life Changing Event (QLCE).‰ Marriage, birth, adoption, divorce, death, loss of other coverage, eligibility for Medicare/Medicaid, open enrollment of spouse, or a substantial change in coverage, or cost of other coverage are qualifying life changing events that would permit a change in enrollment. Any change due to a QLCE must be submitted within 30 days of the event. Contact the Business Office Manager for the appropriate paperwork. BENEFIT CHANGES/DROPS/DELETIONS OF COVERAGE The 401k Savings & Retirement Plan offers employees of HHHunt a method to provide long-term financial security with substantial economic and tax benefits. To encourage you to participate in the plan, the Company matches a percentage of your contribution. After you have completed one (1) year of service, HHHunt will match 50% of your deferral up to a maximum of 6% of your pay. All employees, 21 years of age or older are eligible to participate in the plan on the first (1 st ) day of the month following 60 days of continuous employment. The plan is voluntary and no one is required to participate. You choose the amount of money you want the Company to deduct from your pay - from a minimum of 1%. For this purpose, your pay would include overtime and any bonuses. Once you choose the rate of contribution, the Company will automatically deduct that amount from your pay and contribute it to the plan until SECTION 125 SAVINGS AND RETIREMENT (401K) PLAN


Made with