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Dependent Care Subsidy Program

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Policy Information
  • Issue Date: January 1, 2003
  • Revision Date: February 16, 2010
  • Primary Contact: Director of Human Resources
  • Responsible Member of Directorate: President and Director
  • Responsible Office: Human Resources
Contents
Policy Information
Overview


Overview
I. General

    The Institution offers a plan for an eligible employee to receive reimbursement of $2.00 per hour worked, per dependent for dependent care expenses incurred enabling the employee (and spouse) to work. Reimbursement is up to $2,000 per year per eligible dependent. Maximum reimbursement is for 80 hours per pay period, exclusive of overtime.

II. Eligibility

A. Any Regular employee is eligible to participate. 

B. A participant must have:

  1. At least one child under age 13 who resides with the participant, and for whom the articipant is entitled to a federal tax deduction;
    or
  2. A family member as defined in Internal Revenue Code section 152; and
  3. Eligible expenses by a service provider for dependent care that enables the participant to work.
III. Participation

A. Each eligible employee can receive up to $2,000 per year per eligible dependent. Reimbursement is based upon $1.00 per hour worked per dependent, for a maximum of 80 hours per pay period.

B. Reimbursement is based upon:

  1. Actual time worked, including occasional absence, vacation, or holiday.
  2. The lesser hours worked by the participant or spouse.  
C. Appropriate documentation must be received by the Benefits Specialist by the 8th of each month, for reimbursement in the second pay of the month. Documentation must show
  1. Number of hours of dependent care and expense,
  2. (If applicable) spouse's hours of employment, and
  3. A copy of participant's timecard.
D. Any and all reimbursement requests must be submitted by January 15 for the prior year's expenses.

E. Up to $5,000 ($2,500 if married filing separately) of the dependent care subsidy may be tax-free. The maximum tax-free amount is reduced by amounts contributed to the Dependent Care Flexible Spending Account. Dependent care subsidy paid in excess of the maximum, or in excess of submitted expenses will be reported as taxable income.

F. Dependent care service provider is any individual or day care center which provides dependent care that it in compliance with the Internal Revenue Code.

Should you require assistance in the interpretation  of this procedure, please contact your Benefits Specialist.



Last updated: December 4, 2013
 


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