HR News
2011 W-2s Available Online
Banner Self Service allows you to print your 2011 W-2 on demand. If you lose your original W-2 or need an additional copy for any reason, you have the ability to access and reprint your W-2 using Banner Self-Service. Banner Self Service W-2 reprints conform to federal and state government standards and can be used for filing your tax returns. For instructions on accessing and printing a copy of your W-2, click here.
Retirement Savings Limits for 2012
The federal government has announced contribution limits for the University's 403b and 457b Retirement Savings Plans for 2012. Participants contribute to these plans through TIAA-CREF, VALIC, and/or RSA-1. Participants can contribute up to $17,000 to each plan on a pre-tax basis this year. Participants who are age 50 or above in 2012 can contribute an additional $5,500 to each plan, giving them a total maximum of $22,500 for each plan. Plan participants can change their contributions to the plans through Retirement Manager by clicking here.
Please contact the HR Service Center at 348-7732 with any questions.
Introductory Period Evaluations Go Online January 2012
Human Resources is excited to announce the implementation of an online system for initiating and completing Introductory Period Performance Evaluations. Introductory Period evaluations are due prior to the completion of a new employee’s first six months of employment. The online process will be effective with Introductory Period evaluations due in January 2012. Training sessions have begun for supervisors who have employees due an upcoming evaluation. For training dates and time go to www.hrtraining.ua.edu/hrtrain. This is for the Introductory Period Performance evaluation only and does not include the annual evaluation process.
Investment Fund Scorecard
The University’s 403b and 457b plans through TIAA-CREF and VALIC have more than 80 investment funds available to plan participants. Free, professional investment advice is available to participants through both vendors. For investors who want to track the performance of our retirement funds themselves, it can be a difficult task. The Department of Human Resources has an Investment Fund Scorecard to help you in the process. The Scorecard is designed to show the performance of our investment funds over the last ten years. It is updated quarterly and is housed on the Benefits-Retirement web page. Click here for more information, including advisor contact information.
Roth Retirement Plan Contributions
Roth post-tax 403(b) contributions became a plan option beginning in September. Most employees contribute to the 403(b) plan using pre-tax contributions. Pre-tax 403(b) contributions allow employees to save on their taxes now and pay taxes when the money is withdrawn, when they expect their tax rates will be lower. Some employees, however, believe their tax rates will be higher when they retire so they contribute to a Roth post-tax 403(b) account. Contributions made to a Roth account are made on a post-tax basis, so money withdrawn at retirement is generally tax-free. Other employees may want to save both ways to provide options in retirement. Employees should contact a TIAA-CREF or VALIC financial advisors to discuss the options. Click here for TIAA-CREF and VALIC contact numbers. To start Roth post-tax contributions, click here to access the Retirement Manager.
State Retirement System Changes
The Alabama Legislature passed a bill requiring participants in the Teachers’ Retirement System to pay 2.25 percent more toward their retirement plan beginning Oct. 1, 2011, and an additional increase of 0.25 percent effective Oct. 1, 2012. The total 2.50 percent increase is mandatory for all regular full-time and regular part-time employees. To review the legislation, visit http://www.rsa-al.gov/Legislation/house%20bills/HB414-enr.pdf.
Changes in the PEEHIP Law
The Alabama Legislature enacted legislation (Act 2011-704)
that establishes changes to the Public Education Employees’
Health Insurance Plan (PEEHIP). The new legislation
will slowly but significantly raise health care premiums for public
education and state retirees who retire on or after January 1, 2012.
For additional information, click here.
The new Retiree Premium Calculator is now available. For more information and to access the calculator click here.
Donate to the UA Acts of Kindness - Employee Relief Fund
The UA Acts of Kindness - Employee Emergency Relief Fund will be used to provide financial assistance to employees who qualify under the guidelines of the Fund.
Decisions regarding the distribution of funds will be made by a committee of UA employees who are appointed by the President. Cases will be presented anonymously to committee for consideration.
Now employees may payroll deduct contributions to the UA Acts of Kindness - Employee Emergency Relief Fund. Click here to access the new UA Acts of Kindness - Employee Emergency Relief Payroll Deduction Authorization Form.
BAMA E-mail Address Is Official Means of E-mail Communications from HR
Employees are reminded that the BAMA e-mail address is the "official" e-mail of record. When HR communicates to employees or when departments are approved to send mass e-mail distribution that requires assistance from HR, the BAMA e-mail address is utilized. All employees have a BAMA e-mail address established in Banner even if it is not used routinely. If you do not check BAMA e-mail regularly, to ensure timely receipt of any HR e-mail communications, please set up your BAMA e-mail account to forward to your work e-mail. Instructions on how to set up the forward can be found on the HelpDesk website http://helpdesk.ua.edu/mail/index.html. To set up automatic forward of BamaMail, click here.