Page 28 - CC 2017 Benefits Booklet

2017 EMPLOYEE BENEFITS GUIDE
FREQUENTLY ASKED QUESTIONS
When Can I Become a Participant in the 403 (b)
Plan?
Before you become a member or a “participant”
in the 403 (b) plan, there are certain rules which
you must satisfy. First, you must meet the
eligibility requirements. After that, the next step
is to actually join the plan on the “entry date”
we have established for all employees. You may
also be required to complete certain application
forms.
What are the Eligibility Requirements for Our
403 (b) Plan?
You and your dependents first become eligible
to join the 403 (b) plan on you first day of
employment.
When is the Election Period for Our 403 (b)
Plan?
Your election period will start on the first day
of employment and end 30 days after.
Are There Employees Who Are Not Eligible?
Employees who work less than 30 hours
per week and adjunct faculty are not eligible
unless plan rules dictate otherwise.
Does the Group Health Plan Provide Benefits
for Domestic Partners?
Yes, Columbia College’s group health plan
is for eligible employees and their eligible
dependents, which includes domestic
partners.
Will My Social Security Benefits Be
Affected?
Your Social Security benefits may be slightly
reduced because when you receive tax-free
benefits under our plan, it reduces the amount
of contributions you make to the federal taxes
as well as reducing our contribution to Social
Security on your behalf. 26