Page 15 - FINAL Crane Country Day School 2017-18 Benefits Guide

Additional Crane Country Day School Benefits 15

Cafeteria Plan Options

Crane Country Day School allows every full time employee (working 30+ hours per week) to participate in the
Cafeteria Plan with a contribution of $1,500 to be used on one the benefits of their choice as listed below.
Contributions will be made in two increments of $750 in line with our fiscal year beginning July.

• TIAA 403(b) Retirement Fund Contribution

• Contribution to Health Savings Account for those enrolled on the H.S.A. medical plan

• Tuition reduction for those with children currently enrolled with Crane Country Day School

• Contribution towards (FSA) Flexible Spending Account (administered through Paychex)

• Contribution towards dependent medical premiums (calculated on a monthly basis of $125)

TIAA-CREF | Retirement Plan

Following two years of employment, Crane Country Day School will contribute 5% of gross salary of all full time
(30+ hours per week) employees to a 403(b) tax deferred annuity with Teachers Insurance and Annuity Associ-
ation/College Retirement Equities Fund (TIAA/CREF).

After 5 years of full time employment, Crane Country Day School will contribute an additional 2% of gross sala-
ry for a total of 7% if the employee matches at least 2% of their gross salary.

In addition, to the employer provided contributions, any new employee who works at least 20 hours per week
(or 1,000 hours per year) will be able to participate in Crane Country Day School’s retirement program with
TIAA/CRED by electing tax deferred salary reduction.

Crane Country Day School | Reminders

 Pay days fall on the 15th and last day of the month

 Hot lunch is served on Mondays & Fridays

 Employees are encouraged to live a healthy lifestyle and take part in on-site & off-site formal and informal
wellness activities.

 Yoga Classes can be reimbursed from a special donor specified fun set aside for that purpose.

 All employees are entitled to join the Santa Barbara Teachers’ Federal Credit Union at 3970 La Colina Rd.
They can be reached at 805.682.2467