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Benefits News You Can Use

Published: February 1, 2011

Benefits Services at CSULB continues to provide benefits news you can use. Below is a summary of information available in the recently released Benefits Alert for January. To view the full Benefits Alert, access its website and click on Benefits Publications.

  • New CalPERS Retirement Plans

Recent legislation establishes new retirement formulas for certain newly hired individuals. The new regulations do not apply to current CSU employees.

  • Wondering About Retirement?

Attend a “Understanding Your CalPERS Retirement Benefits” workshop to get answers. This workshop is offered monthly and dates have been scheduled through July. Registration is required as seating is limited. To register, access it website and click on Benefits Workshops.

  • Healthy Lifestyle Rewards Programs

It’s a new year, so why not get fit, stay healthy and be rewarded? Blue Shield and Kaiser HMO plans offer incentives (cash and gift certificates) for members to adopt more healthy lifestyles. Contact your health plan to find out what’s available to you.

  • Children’s Health Insurance Program Reauthorization Act of 2009 (CHIPRA)

This Act provides special enrollment rights and potential opportunities for health premium assistance under Medicaid and CHIP (or the equivalent program(s) under the State of California) for health coverage, whether or not the employee has chosen or is eligible for a health plan.

  • Money Wise: 403(b) Financial Workshop

This workshop is designed to assist employees in exploring investment options available in the CSU TSA Program. Come learn how to supplement your retirement. Fund sponsor representatives will present information about their fund offerings, answer questions, and assist employees in selecting the fund(s) to help meet their retirement goals. Two sessions of this workshop will be offered on Jan. 20. Registration is required as seating is limited. To register, access its website and click on Benefits Workshops.

  • 2011 Retirement Savings Plans [403(b), 401(k) and 457] Contribution Limits

The annual contributions limits for the 403(b), 401(k) and 457 tax-deferred retirement plans remain unchanged for 2011. For more information on these voluntary retirement savings accounts, access it website and click on Retirement Programs.

  • Health Care Reimbursement Account Plan (HCRA)

The Patient Protection and Affordable Care Act (PPACA) was signed into law as part of the health care reform initiative. Included with the law is a new rule that limits the eligibility of over-the-counter (OTC) drugs and medications for reimbursement through a Health Care FSA, a Health Reimbursement Arrangement (HRA) and a Health Savings Account (HSA) such as the CSU’s HCRA plan. For more information, contact ASI, the Plan Administrator at 800/659-3035, or visit it website.

  • Hello Wallet

The CSU is partnered with HelloWallet to make available affordable financial guidance to all CSU employees. HelloWallet is an easy-to-use, online personal finance tool that can help you achieve your financial goals. HelloWallet has announced that the limited-time free trial of the HelloWallet service has been extended to April 1. To learn more, and get started today by accessing HelloWallet. Enter Promo Code: HELLOCSULB.