Goingbacktocollege,orpursuingprofessional
development?Letyoureducationbenefitspay
By SHERRY HALBROOK •Applicationsshouldbesubmitted beganonorafterApril1,2009,through
TheVoucherprogramisback. beforeregistration,butmustbe March31,2010;
Infact,theeducationalbenefitoptions postmarkedwithin10daysafterthe •Applicationsmustbepostmarkedno
havebeenimprovedunderthePS&T coursestarts; laterthan60daysafterthecourseends;
contractandareupandrunningforthe •Onlycredit-bearingcoursesat •Onlycoursesinwhichyoureceivea
2009-10contractyear. participatingcollegesanduniversitiesare passinggradeareeligiblefor
Theeducationalbenefitsarefundedby eligible; reimbursement;
moneynegotiatedbyPEFandthestate •Vouchersarelimitedtotwoper •Onlycoursesataccreditedcolleges
andsetasideincontractArticle15.The employeeforfiscal2009-2010; anduniversitiesareeligible;
benefitsareadministeredjointlybyPEF •$600isthemaximumvouchervalue •Uptotwocoursesinfiscalyear2009-
andthestatethroughtheProfessional foranundergraduatecourseofupto 2010maybereimbursed;
DevelopmentCommittee(PDC). threecredithours; •$600isthemaximumreimbursement
Two foranundergraduatecourseofup
programshelp tothreecredithours;
payforcollege •$725isthemaximum
coursesandare reimbursementforan
availabletoall undergraduatecourseoffour
PS&Temployees credithoursormore;and
forthisfiscal •$1,200isthemaximum
year.Theyare reimbursementforagraduate
theVoucher course.
Programand
theCollege VoucherAlternative(VALT):
Tuition •Providesreimbursementto
Reimbursement currentPS&TUnitemployeesfor
(CTR)Program. qualifyingconferences,workshops,
Athird seminars,andnon-credit-bearing
program,the coursesbyaccreditedproviders
Voucher thatbeganonorafterApril1,
Alternative 2009,throughMarch31,2010;
(VALT)Program, •Applicationsmustbe
reimburses postmarkednolaterthan60days
registrationfees aftertheendofthecourse;
forworkshops, •Youmustsuccessfully
seminarsand completethenon-creditcourse
conferences. work,workshops,orseminarsto
Amaximumoftwocoursesper •$725isthemaximumvouchervalue beeligibleforreimbursement;
memberwillcoveredin2009-10through foranundergraduatecourseoffourcredit •$600isthemaximumVALT
eithertheVoucherortheCTRprogramor hoursormore;and reimbursementperemployeeforfiscal
acombinationofboth. •$1,200isthemaximumvoucher year2009-2010.
“Ifyouhaveusedanyofthese valueforagraduatecourse.
programsinthepast,youknowhow Benefitsmaybetaxable
valuabletheycanbe,”saidPEFDirectorof CollegeTuitionReimbursement Merchantcautionedthat,although
EducationandHumanResourcesClifford UnderpriorPS&Tcontracts,ifthe local,stateandfederalincometaxcodes
Merchant.“MostPEFmembershave collegethememberattendeddidnot arealwayssubjecttochange,any
investedconsiderabletimeandmoneyin participateintheVoucherProgram,the educationalbenefitsyoureceivebyvirtue
theireducationsandbuildingtheir onlyreimbursementthemembercould ofyouremployeestatusmaybetaxable.
professionalskills.Theseeducational receivewasamaximumof$600peryear TheOfficeoftheStateComptroller
programsareagreatwaytosupportthat undertheVALTProgram. typicallywaitsuntillatefalltowithhold
continuingeffort.” However,startingwiththiscontract fromyourpaythetaxesforsuchbenefits.
year,theCTRProgramisreimbursing Currently,educationalbenefitsmust
VoucherProgram tuitionforcollegecoursestakenat exceed$5,200peryeartobeconsidereda
TheVoucherProgram: accreditedschoolsnotparticipatinginthe taxablefringebenefit.However,taxlaws
•Providesvoucherstocurrenteligible VoucherProgram.Maximum maychange.
PS&TUnitemployeesforqualifying reimbursementisatthesamelevelsas Youmaywanttoconsultaprofessional
courses,takenatparticipatingschools, providedundertheVoucherProgram. taxadvisor.Or,forfurtherinformation,
betweenMay1,2009,andMarch31, OtherimportantprovisionsoftheCTR calltheIRSat(800)829-1040,orconsult
2010; include: theIRShomepageonlineatwww.irs.gov.
•Noapplicationspostmarkedbefore •ItreimbursescurrentPS&TUnit
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PEFInformationLine:1-800-553-2445
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