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Benefit Deduction Holiday 1/4/13

With 2012 drawing to completion our benefits and payroll teams are hard at work preparing for the upcoming benefit year. 2013 will have 53 payroll cycles, and this makes it an odd year because our benefit deductions are taken over a 52-week period. 

Because of this oddity everyone will in effect have a "Deduction Holiday" - one pay check (dated 1/4/2013) where there will be no regularly scheduled benefit deductions taken other than those for 401k elections. This will affect all insurance benefits and the Flexible Spending Accounts (FSA).

All new 2013 benefit plans will go into effect on 1/1/2013, and the first payroll deduction for the 2013 benefit year will occur on 1/11/2013. Should you have any questions or concerns about this deduction cycle please feel free to reach out to us at any time.


Posted in: Employees