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EMPLOYEE EMERGENCY FUND
HHHunt has established a special fund to assist employees when a significant
emergency or disaster situation arises. This fund is intended to help our fellow
employees following personal tragedies such as natural disasters, house fires and
other times of loss. Occasionally, the Employee Emergency Fund Committee will
request contributions from employees to replenish the Employee Emergency
Fund. For more information on the Employee Emergency Fund, please see your
Executive Director.
SECTION 125
Under the provisions of Section 125 of the Internal Revenue Service Code, your
deductions for medical and dental insurance premiums will be deducted from
your gross pay before federal, state, and social security withholding taxes are
applied. The same applies to withholding for Flexible Spending Account (FSA)
deductions.
This method of paying your share of medical and dental insurance premiums
reduces your taxable income and will provide you greater net take-home pay than
the traditional method of paying premiums from after-tax pay.
BENEFIT CHANGES/DROPS/DELETIONS OF COVERAGE
As the HHHunt health, dental, and flexible spending accounts come under the
guidelines of Section 125, the regulations allow for enrollment changes to be
made only during open enrollment or within 30 days of a „Qualifying Life
Changing Event (QLCE).‰ Marriage, birth, adoption, divorce, death, loss of other
coverage, eligibility for Medicare/Medicaid, open enrollment of spouse, or a
substantial change in coverage, or cost of other coverage are qualifying life
changing events that would permit a change in enrollment. Any change due to a
QLCE must be submitted within 30 days of the event. Contact the Business Office
Manager for the appropriate paperwork.
SAVINGS AND RETIREMENT (401K) PLAN
The 401k Savings & Retirement Plan offers employees of HHHunt a method to
provide long-term financial security with substantial economic and tax benefits. To
encourage you to participate in the plan, the Company matches a percentage of
your contribution. After you have completed one (1) year of service, HHHunt
will match 50% of your deferral up to a maximum of 6% of your pay.
All employees, 21 years of age or older are eligible to participate in the plan on
the first (1
st
) day of the month following 60 days of continuous employment.
The plan is voluntary and no one is required to participate. You choose the
amount of money you want the Company to deduct from your pay - from a
minimum of 1%. For this purpose, your pay would include overtime and any
bonuses. Once you choose the rate of contribution, the Company will
automatically deduct that amount from your pay and contribute it to the plan until