Important information regarding your W-2

Employees’ 2006 IRS Form W-2s will be distributed on or before January 31, 2007. The university will also provide Employee Year-End Earnings Statements, which are similar to the earnings statements that were issued by the Bureau of State Payrolls, prior to the university’s devolution from the State of Florida.

The earnings statements will match the W-2 forms and provide detailed information on total gross earnings, non-salary earnings, and before- and after-tax deductions. It will also include other nontaxable items and the university’s contributions on behalf of the employees.

Employees may use the following calculation to match their calendar year-end gross earnings to their net pay as provided on the Employee Year-End Earnings Statements.

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In preparation for the distribution of W-2s this month, please review your home and work addresses in the directory to ensure that they are accurate by completing the following steps:

Log on to the myUFL portal with your GatorLink username and password. (Call 392-HELP if you don’t know your GatorLink username or password.)

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Florida Prepaid open enrollment runs through January 31

Open Enrollment for the Florida Prepaid College Plan is now underway and runs though January 31, 2007. Both the Florida Prepaid Plan and the Florida Investment Plan (a 529 Plan) offer affordable ways to save for your children’s future college expenses. Sign up today at www.florida529plans.com or call 1-800-552-GRAD (4723) to request an enrollment kit and application. To request payroll deduction, you must complete a separate payroll deduction form. Contact University Benefits and Retirement at 392-2477 (SC 622-1225) or benefits@ufl.edu to request a form.

Retirement Special Pay Plan implemented

The University of Florida implemented the Special Pay Plan administered by BENCOR on November 29, 2006. Employees separating from the University and receiving sick or vacation leave payments of $2,000 or more will be automatically enrolled in this program. Educational Sessions regarding this plan were held during the months of August through October of 2006. Materials from these sessions and additional information about the plan are available at the following web site:

http://www.hr.ufl.edu/retirement/other/specialpayplan.asp

Higher Education Opportunity applications due January 16

The University of Florida’s Higher Education Opportunity (HEO) provides children of full-time TEAMS employees with the opportunity of tuition assistance for an undergraduate education at the University of Florida. In March 2007, Human Resource Services will select, at random from a pool of eligible HEO applicants, 50 TEAMS employees to participate in this program. Each eligible employee may submit one child’s name into the drawing. To be considered for this benefit, the TEAMS employee must apply for the HEO by January 16, 2007.

or the child of each selected employee, the university will pay the in-state matriculation fees (the actual tuition minus any additional fees for activities, transportation, health, services, athletics, late registration, late payment, materials, supplies, labs, etc.) for up to 12 credit hours during the fall and spring semesters and 6 credit hours during the summer semester. Please note that any Bright Futures Scholarship award will be subtracted from the amount the student can receive through the HEO. As long as the student remains eligible for the HEO, the program will assist with the student’s tuition until he or she has accumulated a maximum of 132 credit hours or has been enrolled in college for six years. Please visit the HEO web site to read about additional HEO eligibility requirements.

To be entered into the HEO drawing, the full-time TEAMS employee must:

1. Submit a completed HEO application form to Training and Organizational Development no later than January 16, 2007.

The child of the full-time UF TEAMS employee must:

1. Have applied for admission to the University of Florida no later than January 16, 2007.
2. Graduate from high school no later than July 31, 2007.

Please note that the University of Florida admissions and the HEO selection processes are separate. Selection for the HEO benefit does not indicate admission into the University of Florida. Application to UF also does not automatically enter a child's name into the HEO drawing. In the event that a child is not accepted to UF, the benefit may be used at a public community college in Florida.

Please click here to view the Higher Education Opportunity online tutorial. For more information about the Higher Education Opportunity, please visit HRS’ web site or contact Amanda Moore, HEO coordinator, at 392-4626 (SC 622-4626) or amanda-moore@ufl.edu.