Important Dates for Benefit Choices

November 30, 2006

·        Deadline for electing to participate in the Productivity Enhancement Program (PEP) for 2007. Eligible full- and part-time employees may exchange previously accrued vacation credits and/or personal leave in exchange for a credit of up to $400 to be applied toward their health insurance premium.

·        Deadline if you want to change your Pre-Tax Contribution Program (PTCP) status. The PTCP allows you to have your health insurance premiums deducted from your pay before taxes are withheld. This lowers your taxable income and gives you more spendable income.  Under IRS regulations, if you participate in the PTCP, you may not make the following changes during the year without a qualifying event:  1) change from Family to Individual coverage while at least one dependent remains eligible; and 2) voluntarily cancel your coverage.

To Be Announced

 ·        Deadline for changing your health plan option. Rates for 2007 have not been set. PS&T employees are entitled to 30 days from the date rates are delivered to the agencies to change their health plan option. No action is required if you do not wish to change health plans.