Page 81 - Police Federal Credit Union

OTHER EDUCATIONAL/PROFESSIONAL

DEVELOPMENT

Credit Union Required Coursework, Certification, Etc.

Requests for attendance and reimbursement consideration must be submitted to the employee’s
immediate supervisor in advance and must include course/certification overview, total cost, and any
other information such as, the name of the facility offering the course, course title, number of credit
hours pursued, and a brief explanation regarding how the course/certification will benefit the
employee in his/her role at Police FCU.

When course work is completed, the employee shall submit the final grade from the accredited
institution to immediate supervisor within four weeks of course completion for verification of grade
and processing of any reimbursement.

EMPLOYEE ASSISTANCE PROGRAM

Employees have access to an Employee Assistance Program (EAP) which is a confidential counseling
and referral service that can help employees deal with issues such as stress, family and relationship
challenges, anxiety, depression, alcohol, or drug dependency and coping with grief. The EAP offers up
to 3 face-to-face counseling sessions for employees and family members, as well as legal and financial
consultations, unlimited referrals, and online resources. Employees in need of this assistance should
refer to the current year’s Summary of Employee Benefits to access this free, confidential service.

FLEXIBLE BENEFIT PLANS

Flexible benefits plans, which are permitted under Section 125 of the federal tax code, enable
employees to contribute to their costs for certain types of benefits through pretax deductions from
their wages. Under Section 125, an employee's costs for specific benefits that he or she has selected
can be deducted from the employee's salary without being subject to federal income, Social Security,
and Medicare taxes or to state and local taxes. At its core, a flexible benefits plan gives employees a

choice between at least one taxable benefit and at least one qualified benefit—that is, a benefit
whose costs to the employee are, the Internal Revenue Service (IRS) says, "excludable from an
employee's gross income."

Flexible benefits plans can help soften the financial impact of employees' higher contributions. The
tax savings for employees using pretax dollars to pay for benefits can be substantial. For example, an
employee who spends $200 a month in pretax dollars for benefits through a flexible benefits plan can,
in effect, save $60, assuming about 30 percent of the $200 would have gone to federal, state and local

income taxes and to FICA (Federal Insurance Contributions Act)—the taxes deducted for Social
Security and Medicare.

POLICE FEDERAL CREDIT UNION EMPLOYEE MANUAL - APRIL 2017 81 | PAGE